Apple Inc. (AAPL)
Pressure From Rivals Causes Apple to up Discounts on iPhones in China
Apple has reportedly begun a campaign of heavy discounting on its iPhone in China. The markdowns — up to 2,300 yuan (about $320) on select iPhone models on the company's Tmall site — come as Apple faces increased competition from local tech companies like Huawei, Reuters reported Monday (May 20).
Apple's imminent AI chatter could change this common investor perception
Apple Inc.'s hardware events are usually the most exciting to investors. But this time around, Wall Street is highly anticipating the company's annual software preview.
Apple Is About to Make Its AI Announcement. Here's What to Expect.
Apple is set to make a joint announcement with OpenAI at its Worldwide Developer Conference next month, according to a report.
Naples Money Management LLC Takes Position in Apple Inc. (NASDAQ:AAPL)
Naples Money Management LLC acquired a new position in shares of Apple Inc. (NASDAQ:AAPL – Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 17,991 shares of the iPhone maker’s stock, valued at approximately $3,464,000. Apple makes up approximately 3.2% of Naples Money Management LLC’s holdings, making the stock its 7th biggest position. Other hedge funds and other institutional investors have also bought and sold shares of the company. Wyrmwood Management LLC lifted its position in shares of Apple by 69.0% in the fourth quarter. Wyrmwood Management LLC now owns 169 shares of the iPhone maker’s stock worth $33,000 after purchasing an additional 69 shares in the last quarter. Gilfoyle & Co LLC increased its stake in Apple by 118.0% in the 4th quarter. Gilfoyle & Co LLC now owns 218 shares of the iPhone maker’s stock valued at $40,000 after buying an additional 118 shares during the last quarter. PayPay Securities Corp lifted its position in Apple by 70.2% during the 3rd quarter. PayPay Securities Corp now owns 509 shares of the iPhone maker’s stock worth $87,000 after buying an additional 210 shares in the last quarter. Friedenthal Financial acquired a new position in shares of Apple during the 4th quarter worth about $111,000. Finally, Cordant Inc. grew its holdings in shares of Apple by 27.7% in the 3rd quarter. Cordant Inc. now owns 645 shares of the iPhone maker’s stock valued at $110,000 after acquiring an additional 140 shares in the last quarter. Institutional investors and hedge funds own 60.41% of the company’s stock. Insider Activity at Apple In other news, CEO Timothy D. Cook sold 99,183 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the completion of the transaction, the chief executive officer now directly owns 3,377,407 shares in the company, valued at $574,260,512.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Timothy D. Cook sold 99,183 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $170.03, for a total transaction of $16,864,085.49. Following the sale, the chief executive officer now directly owns 3,377,407 shares in the company, valued at $574,260,512.21. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Deirdre O’brien sold 54,732 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $168.91, for a total transaction of $9,244,782.12. Following the completion of the transaction, the senior vice president now owns 136,572 shares of the company’s stock, valued at approximately $23,068,376.52. The disclosure for this sale can be found here. Insiders sold a total of 371,270 shares of company stock valued at $64,605,696 in the last quarter. Insiders own 0.06% of the company’s stock. Analyst Ratings Changes Several research analysts recently commented on AAPL shares. Rosenblatt Securities reissued a “neutral” rating and set a $196.00 price target (up from $189.00) on shares of Apple in a research report on Friday, May 3rd. Piper Sandler cut their price objective on Apple from $205.00 to $190.00 and set a “neutral” rating for the company in a report on Friday, February 2nd. Wedbush restated an “outperform” rating and set a $250.00 target price on shares of Apple in a report on Monday, May 13th. Maxim Group began coverage on shares of Apple in a research note on Wednesday, April 17th. They issued a “hold” rating and a $178.00 price target for the company. Finally, The Goldman Sachs Group boosted their price objective on shares of Apple from $223.00 to $232.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $204.71. View Our Latest Report on Apple Apple Stock Up 0.0 % NASDAQ AAPL opened at $189.87 on Monday. The business has a fifty day moving average price of $174.13 and a two-hundred day moving average price of $182.67. The stock has a market capitalization of $2.91 trillion, a PE ratio of 29.53, a PEG ratio of 2.28 and a beta of 1.26. Apple Inc. has a fifty-two week low of $164.07 and a fifty-two week high of $199.62. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.04 and a quick ratio of 0.99. Apple (NASDAQ:AAPL – Get Free Report) last released its quarterly earnings data on Thursday, May 2nd. The iPhone maker reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.02. The business had revenue of $90.75 billion for the quarter, compared to analyst estimates of $90.37 billion. Apple had a return on equity of 148.33% and a net margin of 26.31%. Apple’s revenue was down 4.3% compared to the same quarter last year. During the same period last year, the firm posted $1.52 earnings per share. Equities analysts expect that Apple Inc. will post 6.57 earnings per share for the current fiscal year. Apple declared that its Board of Directors has approved a stock buyback program on Thursday, May 2nd that authorizes the company to buyback $110.00 billion in outstanding shares. This buyback authorization authorizes the iPhone maker to repurchase up to 3.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued. Apple Increases Dividend The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Monday, May 13th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.53%. This is a boost from Apple’s previous quarterly dividend of $0.24. The ex-dividend date was Friday, May 10th. Apple’s dividend payout ratio is currently 15.55%. Apple Profile (Free Report) Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.
Check Capital Management Inc. CA Decreases Stake in Apple Inc. (NASDAQ:AAPL)
Check Capital Management Inc. CA lessened its holdings in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 0.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,814 shares of the iPhone maker’s stock after selling 241 shares during the period. Apple accounts for approximately 0.2% of Check Capital Management Inc. CA’s investment portfolio, making the stock its 14th biggest position. Check Capital Management Inc. CA’s holdings in Apple were worth $6,510,000 as of its most recent SEC filing. A number of other hedge funds also recently bought and sold shares of the business. Headinvest LLC boosted its holdings in Apple by 1.7% in the 3rd quarter. Headinvest LLC now owns 53,155 shares of the iPhone maker’s stock valued at $9,236,000 after purchasing an additional 872 shares during the last quarter. Sound Income Strategies LLC lifted its holdings in Apple by 16.1% in the fourth quarter. Sound Income Strategies LLC now owns 75,110 shares of the iPhone maker’s stock valued at $14,461,000 after acquiring an additional 10,425 shares during the last quarter. DNB Asset Management AS grew its position in Apple by 6.9% in the fourth quarter. DNB Asset Management AS now owns 4,307,068 shares of the iPhone maker’s stock worth $829,240,000 after acquiring an additional 279,311 shares during the period. Boltwood Capital Management increased its stake in Apple by 2.8% during the fourth quarter. Boltwood Capital Management now owns 37,178 shares of the iPhone maker’s stock worth $7,158,000 after acquiring an additional 1,021 shares during the last quarter. Finally, NewEdge Wealth LLC raised its position in Apple by 16.2% in the fourth quarter. NewEdge Wealth LLC now owns 808,709 shares of the iPhone maker’s stock valued at $155,701,000 after purchasing an additional 112,980 shares during the period. Institutional investors and hedge funds own 60.41% of the company’s stock. Apple Trading Up 0.0 % NASDAQ AAPL opened at $189.87 on Monday. Apple Inc. has a 12 month low of $164.07 and a 12 month high of $199.62. The company has a market capitalization of $2.91 trillion, a price-to-earnings ratio of 29.53, a price-to-earnings-growth ratio of 2.28 and a beta of 1.26. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.04 and a quick ratio of 0.99. The firm’s fifty day moving average price is $174.13 and its 200 day moving average price is $182.67. Apple (NASDAQ:AAPL – Get Free Report) last posted its earnings results on Thursday, May 2nd. The iPhone maker reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. Apple had a return on equity of 148.33% and a net margin of 26.31%. The business had revenue of $90.75 billion for the quarter, compared to analysts’ expectations of $90.37 billion. During the same quarter in the previous year, the firm earned $1.52 earnings per share. The business’s revenue was down 4.3% compared to the same quarter last year. On average, sell-side analysts expect that Apple Inc. will post 6.57 earnings per share for the current fiscal year. Apple announced that its board has approved a stock buyback program on Thursday, May 2nd that authorizes the company to buyback $110.00 billion in shares. This buyback authorization authorizes the iPhone maker to reacquire up to 3.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued. Apple Increases Dividend The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Monday, May 13th were paid a $0.25 dividend. The ex-dividend date was Friday, May 10th. This represents a $1.00 dividend on an annualized basis and a yield of 0.53%. This is a boost from Apple’s previous quarterly dividend of $0.24. Apple’s payout ratio is currently 15.55%. Insider Activity In related news, Director Arthur D. Levinson sold 100,000 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $180.94, for a total value of $18,094,000.00. Following the completion of the sale, the director now owns 4,434,576 shares in the company, valued at approximately $802,392,181.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Chris Kondo sold 4,999 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $190.40, for a total transaction of $951,809.60. Following the transaction, the insider now owns 29,278 shares of the company’s stock, valued at $5,574,531.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Arthur D. Levinson sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $180.94, for a total value of $18,094,000.00. Following the sale, the director now directly owns 4,434,576 shares of the company’s stock, valued at $802,392,181.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 371,270 shares of company stock valued at $64,605,696. 0.06% of the stock is currently owned by company insiders. Wall Street Analysts Forecast Growth A number of brokerages recently issued reports on AAPL. Robert W. Baird raised their price objective on Apple from $186.00 to $200.00 and gave the stock an “outperform” rating in a research report on Monday, January 29th. The Goldman Sachs Group lifted their price target on shares of Apple from $223.00 to $232.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. UBS Group restated a “hold” rating and issued a $190.00 price objective on shares of Apple in a report on Monday, March 25th. Bank of America lifted their target price on shares of Apple from $225.00 to $230.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Finally, Sanford C. Bernstein upgraded Apple from a “market perform” rating to an “outperform” rating and set a $195.00 price target on the stock in a research note on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and a consensus target price of $204.71. Get Our Latest Stock Analysis on AAPL About Apple (Free Report) Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.
What's New In Consumer Tech World Last Week? News That You Should Know (May 12-May 19, 2024)
Here’s what happened in the world of consumer tech in the last week: In a significant development, Chinese chipmakers are making headway in producing high bandwidth memory (HBM) semiconductors, a crucial component in artificial intelligence (AI) chipsets. This marks a key step in China’s efforts to diminish its dependence on foreign suppliers amid ongoing tensions with the U.S. Tech Mark Zuckerberg, the CEO of Meta Platforms Inc. META, is reportedly set to celebrate his 40th birthday on his new superyacht, Launchpad, in Panama. Also Read: Elon Musk Reacts After Doge Designer Says Meta ‘Would Be Trillionaires By Now’ If They Had A Dollar For Every Child Safety Investigation Alphabet Inc.’s GOOG GOOGL Google slipped in a pair prototype version of augmented reality (AR) glasses at the Google I/O 2024 conference, sparking speculation about a potential revival of the once-abandoned Google Glass project. Also Read: Beating US Sanctions, Chinese Scientists Achieve Mass Production Of Optical Chips At Low Cost Elon Musk Tesla Inc. TSLA and SpaceX CEO Elon Musk has expressed skepticism about the capabilities of ChatGPT-parent OpenAI’s latest AI model development. Also Read: Elon Musk’s Neuralink Patient, Noland Arbaugh, Shares His Journey From Paralysis To Cyborg: ‘Once You Get A Taste For Using It…’ Elon Musk revealed that his AI-powered chatbot, Grok, will soon offer a humorous take on the news. Also Read: Elon Musk Says ‘High Priority Fix’ Is In Works For Live Content On X, Days After Acknowledging It’s Not Female-Friendly Media & Streaming Platform Comcast Corporation CMCSA is set to introduce a new streaming bundle featuring Apple Inc. AAPL TV+, Netflix Inc. (NASDAQ: NFLX), and Peacock, a service by NBCUniversal. To prioritize streaming services, Walt Disney Co DIS has significantly reduced its investment in traditional television networks, said CEO Bob Iger. Also, Walt Disney and Airbnb, Inc ABNB have joined forces to offer fans a unique experience. Starting May 24, guests can stay in a recreation of the iconic Edna Mode house from the Pixar film “The Incredibles.” Video sharing platform, Rumble Inc. RUM has initiated legal proceedings against Google, accusing it of monopolistic practices in its digital advertising products. Rumble is seeking damages in excess of $1 billion. Tech & Smartphone Apple and Alphabet are collaborating to support alerts for unwanted Bluetooth tracking device recognition across operating systems. In a bid to curb the rising incidents of mobile phone theft, Google has announced a new feature that will use artificial intelligence to detect theft and lock the screen of Android smartphones. Also Read: Samsung’s ‘UnCrush’ Ad Mocking Apple Invites Barrage Of Criticism Online: ‘You Think This Will Make People Switch?’ Apple has announced a groundbreaking set of accessibility features that will allow users to control iPhones and iPads with their eyes. Related: Tim Cook Hyped ‘Thinnest Apple Product Ever’ At Recent iPad Event, But Cupertino’s Newest Gadget Flunks Durability Test In ‘Catastrophic Failure’ Apple is reportedly close to finalizing a partnership with OpenAI that could bring significant AI features to its devices. Gaming Sony Group Corp. SONY announced this week that it shipped 4.5 million PS5 units during the three-month period ending March 31, 2024, a decrease from the 6.3 million shipped in the same period the previous year. Also, Sony announced that “Helldivers 2” sold over 12 million copies in its first 12 weeks, making it PlayStation’s fastest-selling game ever. Moreover, the company revealed the complete list of PlayStation Plus Games Catalog additions for May 2024, headlined by the highly anticipated return of Red Dead Redemption 2. Also Read: Marvel Rivals Creators Were Banned From Making Negative Reviews, NetEase Apologizes Take-Two Interactive Software Inc TTWO has reaffirmed that Grand Theft Auto VI (GTA 6) is set for release in the fall of 2025, dispelling rumors of a potential delay to 2026. Electronic Arts Inc’s (NASDAQ: EA) Madden NFL 25 is reportedly set for release on August 16, with early access on August 12 for Deluxe Edition buyers and EA Play subscribers. Also Read: Black Ops 6: Next Call Of Duty Game Might Skip Numbered Title Ubisoft Entertainment SA UBSFF announced the arrival of Skull and Bones Season 2, citing a “tremendous response” from the community following the game’s launch. Microsoft Corp. MSFT unveiled the second wave of Xbox Game Pass additions for May 2024, featuring a variety of games spanning different genres. Related: Xbox Exec Sarah Bond Addresses Microsoft’s Studio Closures: ‘It’s Always Extraordinarily Hard To Make Decisions Like That’ GameStop Corp GME, the U.S. video game retail chain, is expanding its market reach by venturing into the lucrative collectibles domain. Artificial Intelligence (AI) To enhance data privacy for educators and students, Google is set to introduce its Gemini AI to schools. The tech giant has assured that it will not use the data for AI model training or share it with any third parties. OpenAI dropped GPT-4o on Monday after several weeks of rumors about the AI startup’s next big reveal. The company showed off several examples of what this updated version of GPT is capable of. OpenAI has skipped its biggest investor, Microsoft’s Windows 11, instead launching the ChatGPT app for Apple’s macOS operating system while unveiling the new GPT-4o model. OpenAI introduced a more efficient and cost-effective version of its AI model, GPT-4, which has existed for over a year. John Schulman, the co-founder of OpenAI, has shared his insights on the performance of GPT-4 and the potential challenges it faces due to a limited amount of training data being available. OpenAI CEO Sam Altman is currently leading one of the biggest AI startups in the world, but less than six months ago, he was at the center of a “palace coup.” Also Read: OpenAI CEO Sam Altman Seems To Be On The Same Page With Elon Musk About One Thing — To Ensure ‘Reasonable Safety’ In AI Era Via Strong Regulation OpenAI’s chief scientist Ilya Sutskever, who announced departure from his post on Wednesday, might now be heading to Elon Musk’s xAI, according to Deepwater Asset Management’s managing partner, Gene Munster. Related: Meet Jakub Pachocki, OpenAI’s New Chief Scientist After Ilya Sutskever’s Exit: Sam Altman Hails Him As ‘One Of The Greatest Minds Of Our Generation’ Sam Altman expressed his support for international regulation of AI, echoing similar statements shared previously by Elon Musk. Also Read: Elon Musk Recalls Breaking Friendship With Google’s Larry Page Over Ilya Sutskever: ‘Linchpin For OpenAI Being Successful’ Alphabet’s Sundar Pichai thinks that key AI rival, OpenAI, should be the one to answer if it violated YouTube’s terms of service after it allegedly scraped over a million hours of videos to train its AI model, Sora. Google and Amazon.com Inc. AMZN-backed AI startup Anthropic has introduced its Claude chatbot and subscription plans in Europe. Related: Google Advances AI Integration, While Apple May Partner with OpenAI to Enhance Siri, Analysts Say Humane, the company behind the AI Pin, which received some bad reviews after the initial hype, has announced a significant upgrade to its product. To bolster China’s artificial intelligence sector, renowned AI pioneer and founder of Beijing-based startup — 01.AI — Kai-Fu Lee is launching the company’s first consumer AI application. Photo via Pixabay. © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Apple's ‘Big Assumption' on App Store Fees Draws Judge's Ire
A federal judge is questioning Apple's 27% fee on in-app purchases via outside payment platforms. U.S. District Judge Yvonne Gonzalez Rogers has been hearing evidence concerning the tech giant's compliance with an order she handed down in 2021.
Tim Cook Feels China's Homegrown Heat As Apple Slashes iPhone Prices Second Time This Year In Asian Nation
Apple Inc. AAPL has initiated a significant price reduction for its iPhone models in China, as it faces mounting competition from local rivals like Huawei Technologies Co. What Happened: Apple has launched a substantial discounting campaign on its official Tmall site in China, offering discounts of up to $318 (CNY 2,300) on select iPhone models, reported Reuters. This move comes as Apple seeks to maintain its position in the high-end smartphone market, where it is facing increased competition from local players such as Huawei. The discounting campaign, which runs from May 20 to May 28, is more substantial than the one Apple offered in February. The highest discount in the February campaign was $159, but this time, discounts are up to $318. The steepest discount applies to the 1TB iPhone 15 Pro Max model, while other models also see significant price cuts. See Also: Elon Musk Recalls Breaking Friendship With Google’s Larry Page Over Ilya Sutskever: ‘Linchpin For OpenAI Being Successful' Apple’s previous discounting effort in February appears to have helped the company mitigate a sales slowdown in China. Apple’s shipments in China increased by 12% in March, according to Reuters’ calculations based on data from the China Academy of Information and Communications Technology (CAICT). Even then, Apple’s iPhone 16 launch in September is expected to be countered by Huawei with its Mate 70 series. Subscribe to the Benzinga Tech Trends newsletter to get all the latest tech developments delivered to your inbox. Why It Matters: This increased competitive pressure on Apple comes after Huawei introduced its new series of high-end smartphones, the Pura 70, last month, following the launch of the Mate 60 last August. Apple’s recent struggles in China have been well-documented. The company’s CEO, Tim Cook, even made a high-profile visit to China in March to reassure the Chinese government of Apple’s commitment to the market. Despite the challenges, some analysts, such as Dan Ives from Wedbush, have expressed optimism about Apple’s future in China. However, the recent launch of the Pura 70 series by Huawei has added to Apple’s woes in the region. Price Action: Apple's shares were trading 0.71% lower in premarket trading on Monday, after closing at $189.87 on Friday, according to Benzinga Pro. Check out more of Benzinga's Consumer Tech coverage by following this link.
Forget Apple: This Other Buyback Stock Soared 28% Over the Last Year, and Could Be Headed Even Higher
Companies may buy back shares if management views the stock as undervalued. AutoNation has a rich history of buying back shares, and just announced a $1 billion program.
Magnificent 7 Still Magnificent as the Halfway Mark Approaches?
As we approach the midpoint of 2024, it's an opportune moment to revisit the performance of the "Magnificent Seven" tech giants and their evolving market narratives.
Is Apple Stock A Buy Ahead Of iPhone 15 Introduction?
Apple has been an American success story several times over with the Mac, iPod, iPhone and other inventions. But is Apple stock a buy now?
Apple slashes iPhone prices in China amid fierce Huawei competition
Apple has launched an aggressive discounting campaign on its official Tmall site in China, offering discounts of up to 2,300 yuan ($318) on select iPhone models.
