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  • Apple Rolls Out ‘Affordable’ iPhone During Global Coronavirus Pandemic
    SmarterAnalyst

    Apple Rolls Out ‘Affordable’ iPhone During Global Coronavirus Pandemic

    Apple Inc. (AAPL) is launching a smaller iPhone, which the tech giant named its “most affordable” second-generation smartphone device, at a time when the global economy is expected to fall into a recession amid the coronavirus pandemic.The smaller iPhone SE priced at $399 will be available to pre-order on Apple’s website and via Apple Store app from  April 17, with delivery expected to start April 24, in the U.S. and more than 40 other countries and regions. The new iPhone comes with a 4.7-inch HD display, paired with Touch ID, the same processor chip as the iPhone 11 and iPhone 11 Pro, and a 12-megapixel camera.“The first iPhone SE was a hit with many customers who loved its unique combination of small size, high-end performance and affordable price; the new second-generation iPhone SE builds on that great idea and improves on it in every way, including our best-ever single-camera system for great photos and videos, while still being very affordable,” said Phil Schiller, Apple’s senior vice president of Worldwide Marketing.Apple shares advanced 1.2% to $287.89 in pre-market trading in the U.S. on Thursday.Five-star analyst Harsh Kumar at Piper Sandler reiterated his Buy rating on the stock  with a $300 price target, saying that Apple's second-generation iPhone is the "right phone at the right time."“The new, lower cost offering is a great way to preserve Apple's customer base given the increasing competitive pressure in China from 5G phones and the consumer feeling pressure in the current economic environment,” according to Kumar.Moreover, Kumar contends that the timing "corresponds perfectly" with U.S. customers who may be receiving their stimulus checks over the next several days, and it should also "help fill the gap" until Apple releases its 5G offering.Overall, Apple has a Moderate Buy analyst consensus rating based on 26 Buys, 7 Holds and 2 Sells. The $308.42 average price target indicates a 7.6% upside potential for the shares in the coming 12 months. (See Apple stock analysis on TipRanks).In addition, Apple announced that a portion of iPhone SE sales will go directly to global funds dedicated to provide coronavirus assistance to countries in need of diagnostics treatment, lab equipment, public safety communications, supply chain support and more.Related News: Bank of America’s Quarterly Profit Almost Halves as U.S. Bank Sees Bleak Economic Outlook Nvidia Receives Chinese Approval For Long-Awaited Mellanox Deal Citigroup Shares Take a Hit as Loan Losses Widen in the First Quarter More recent articles from Smarter Analyst: * Gilead Files Government Lawsuit For HIV Research Breach * Translate Bio Pops 24% On Sanofi’s Covid-19 Vaccine Enthusiasm * Gap to Shore Up Liquidity Amid Cash Squeeze Warning * Gilead’s Remdesivir US Trial Currently Ahead of Schedule- Reuters

  • Apple in Deal With Amazon Allows Prime Video Users to Make In-App Purchases
    SmarterAnalyst

    Apple in Deal With Amazon Allows Prime Video Users to Make In-App Purchases

    Apple Inc. (AAPL) is allowing Amazon.Com Inc.’s (AMZN) Prime Video subscribers to buy or rent video content using the e-commerce company’s app on their iPhones and other Apple devices.The deal marks a change in Apple’s policy. Previously the tech giant had a policy of taking a 30% cut from all content purchased inside video apps on its iOS devices. Now providers can charge consumers directly using their own payment systems without paying a commission to Apple.Five-star analyst Jim Kelleher at Argus Research this week reiterated his Buy rating for the stock, citing Apple’s "multiple strengths" to carry it through a difficult period, which includes wearables, services, and a strong online business.Overall, Apple has a Moderate Buy consensus rating based on 35 analysts covering the stock. The consensus rating breaks down into 24 Buys, 9 Holds and 2 Sells. The $316.16 average price target indicates a 32% upside potential for the shares in the coming 12 months. (See Apple stock analysis on TipRanks)Amazon enjoys a Strong Buy consensus rating from the 37 Wall Street analysts covering the stock in the last three months who are split into 36 Buys and 1 Hold. The $2,432.91 average price target implies a 28% potential gain in the shares in the coming 12 months. (See Amazon stock analysis on TipRanks)Related News: RingCentral Takes On Zoom, Launches Highly Anticipated Video Chat Product Wells Fargo: 2 Big 11% Dividend Stocks to Buy (And 1 to Avoid) Qualcomm (QCOM) Stock Is a Buy at These Levels, Says 5-Star Analyst More recent articles from Smarter Analyst: * Apple Boosts Covid-19 Effort With New Mobility Data Tool * American Airlines To Receive $5.8 Billion in Payroll Support From US Treasury * Tesla Settles Zoox Lawsuit, Stock Now Rallied 70% YTD * Fiverr (FVRR) Stock Is a COVID-19 Winner; Analyst Says 'Buy'

  • Apple Buys Weather App Dark Sky in Undisclosed Deal
    SmarterAnalyst

    Apple Buys Weather App Dark Sky in Undisclosed Deal

    Apple Inc. (AAPL) has acquired Dark Sky, a weather app, for an undisclosed sum.As a result of the deal, Dark Sky, which provides minute by minute weather forecasts, will terminate its Android and Wear OS versions in July, the company said in a blog post. Dark Sky's API will continue to function "through the end of 2021," but won't be accepting new signups to use the API, company co-founder Adam Grossman said in the post.Apple has a Moderate Buy consensus rating based on 35 analysts covering the stock. The consensus rating breaks down into 24 Buys, 9 Holds and 2 Sells. The $316.16 average price target indicates 24% upside potential for the shares in the coming 12 months. (See Apple stock analysis on TipRanks) Timothy Arcuri, five-star analyst at UBS this week lowered Apple's price target to $290 from $335, while reiterating his Buy rating for the stock. Related News: Is Amazon Stock a Buy Right Now? This 5-Star Analyst Says Yes Nvidia Stock at $330 a Share? This 5-Star Analyst Thinks It’s Possible Facebook’s User Engagement and Business Interaction Make It Unstoppable, Says Top Analyst More recent articles from Smarter Analyst: * Microsoft’s Bill Gates to Spend Billions of Dollars on Coronavirus Vaccine Development * 3 Biotech Stocks Under $2 With Massive Upside Potential * PayPal Gets Okay to Participate in U.S. Government’s $350 Billion Relief Package * Google, Apple Join Forces to Develop Coronavirus Tracking Technology