|Bid||0.00 x 900|
|Ask||0.00 x 800|
|Day's Range||210.10 - 212.72|
|52 Week Range||142.00 - 233.47|
|Beta (3Y Monthly)||1.08|
|PE Ratio (TTM)||17.86|
|Earnings Date||Oct 30, 2019 - Nov 4, 2019|
|Forward Dividend & Yield||3.08 (1.49%)|
|1y Target Est||223.03|
U.S. stocks rallied Monday morning in an at least temporary reprieve after a mid-August rout. U.S. government bond yields rose across the curve, led by yields on 30-year bonds and 10-year notes.
Apple's CEO met with President Trump to discuss the ongoing trade war. While the company is concerned it will be hit by tariffs, there's little it can do in the long run.
Yahoo Finance's Dan Roberts, Brian Cheung, Anjalee Khemlani, and Dan Howley discuss President Trump and Tim Cook's meeting which focused on the impact of tariffs.
While President Trump had a lot to say this weekend about the ongoing trade war with China, he also talked about his meeting with Apple CEO Tim Cook. Yahoo Finance’s Alexis Christoforus, Brian Sozzi and Dan Howley discuss.
Stock futures: About a dozen states reportedly plan a Big Tech antitrust probe, likely ensnaring Apple, Facebook, Amazon and Google. Baidu, spinoff iQiyi and Fabrinet moved on earnings.
(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. When Japan decided to step up its fight with South Korea last month, it dug deep into the supply chain to impose sanctions on three obscure materials made by a handful of Japanese companies few have ever heard of.The most powerful weapon in Tokyo’s campaign against its neighbor turned out to be a half-dozen or so niche firms with names like JSR Corp., Shin-Etsu Chemical Co. and Tokyo Ohka Kogyo Co. They make fluorinated polyimide, hydrogen fluoride and photo-resist: essential ingredients for the manufacture of the displays and semiconductors that go into every piece of modern consumer electronics, from Apple Inc. iPhones and Dell Technologies Inc. laptops to the full range of Samsung Electronics Co. devices. Japan prohibited the export of those materials, allowing an exception only if suppliers secure a license and renew that license regularly.How did they become so indispensable? And how did they manage to stay on top even after their Japanese clients ceded the chip and display markets to Taiwanese and South Korean rivals? The answer lies in a series of well-timed investments decades ago, combined with a willingness to explore foreign markets and an unceasing refinement of manufacturing standards too exacting for anyone else to try and match.“JSR is an interesting case in that they became big in photo-resists because they succeeded overseas first,” said Damian Thong, an analyst at Macquarie Group Ltd. “And much of this success was because of the strategy of one man — Mitsunobu Koshiba.”The JSR chairman’s story shows just how hard it would be for a newcomer to fill the shoes of one of these suppliers. Koshiba spearheaded the company’s pivot into photo-resists, a light-sensitive liquid used to imprint circuits as narrow as a few strands of DNA onto silicon wafers in a process called lithography. Gadgets keep getting slimmer, more powerful and cheaper because chip companies are able to etch ever smaller circuit patterns onto silicon. When it comes to the most advanced chip processes, JSR is one of the few that can deliver the goods.When 25-year-old Koshiba joined JSR in 1981, the company’s biggest business was still tire rubber. (The name is an abbreviation of Japan Synthetic Rubber.) As luck would have it, photo-resist at that time used resins that JSR had access to for its existing business, and the company saw an opportunity to break into a new growth industry. Japanese semiconductor makers were just beginning their rise to global dominance, and suppliers were positioning themselves to go along for the ride.The problem for JSR was it didn’t belong to any of the local keiretsu, a grouping of suppliers that receives preferential access to contracts. And the company was also up against Tokyo Ohka or TOK, the first in Japan to manufacture photo-resist. By the mid-1980s, TOK controlled as much as 90% of the domestic market.“As a neutral company without keiretsu affiliations, we had to look outside Japan,” Koshiba said in an interview, outlining JSR’s decades-long rise but declining to talk in detail about sensitive trade negotiations now underway between Tokyo and Seoul.JSR’s decision to get into that market was bold but Koshiba seemed like the right person for the job. He’d spent two years studying materials science at the University of Wisconsin-Madison on a Rotary Club scholarship, was one of the few English speakers at the company and was eager to work abroad. In 1990, JSR sent him to Belgium to set up a photo-resist joint venture with the country’s biopharmaceutical giant UCB SA. The goal was to target the American market.As timing would have it, JSR was going overseas just as Japan was approaching the peak of its semiconductor prowess. That same year, NEC Corp., Toshiba Corp. and Hitachi Ltd. were the world’s biggest chipmakers, pushing aside Intel Corp. and Texas Instruments Inc. Japanese firms occupied six spots in the industry’s top 10 ranking by revenue, a level of concentration that hasn’t been matched by any country since, according to IC Insights.Japan’s seemingly unshakable control of the computer memory market gave the country renewed national confidence. The mood was reflected in the book “The Japan That Can Say No,” in which right-wing politician Shintaro Ishihara and Sony Corp. co-founder Akio Morita argued for a more muscular foreign policy. In an eerie echo of recent events, the authors contended that the Japanese government had the power to determine the outcome of the Cold War just by directing its national companies to sell the chips used in intercontinental ballistic missiles (ICBMs) to the Soviets instead of the U.S.But the Cold War ended before that theory could be tested. Over the following decade, personal computers overtook ICBMs as the primary destination for chips and demand shifted to prioritize low unit costs over military-spec quality. By 2006, Samsung had risen to No. 2 on the list of the world’s biggest chipmakers, with Korean compatriot SK Hynix Inc. ranking seventh and only three Japanese names remaining among the top 10.For JSR, the turning point came in 2000. Koshiba, who was based in California at that time, recalls being dragged into an emergency meeting on a Sunday wearing a T-shirt and shorts. Word was a rival company was about to clinch an agreement with IBM for joint research on a next-generation photo-resist material. “Get it back,” he was told. Koshiba leaned on the network of American industry contacts he had spent a decade building, people who had known him through the worst of U.S.-Japanese trade tensions. Within a month, IBM signed with JSR.“Without that deal, we wouldn’t have gotten to No. 1,” Koshiba said.In lithography, the formula for shrinking transistors has only two levers: increase the light power or use a lens that lets more light through. Every time the chip process shifts to a higher-energy band of light, resist makers have to go back to the drawing board, opening up new opportunity. The research partnership with IBM ushered in the fourth such shift since integrated circuits replaced vacuum tubes in the 1970s, and JSR rode it all the way to the top.The company now commands about 40% of the market for the latest generation of resist used in mass production. It also supplies more than 30% of the photo-resist for 3D NAND, the most advanced flash memory chips, which are among the few product lines where Japan still competes with Korean rivals. In 2019, JSR is expected to generate about three times the revenue and five times the profit it did in the early ‘90s.What makes this business inaccessible to newcomers is the extreme degree of purity and quality demanded by customers. TOK says a single drop of coffee in two Olympic-sized swimming pools would be considered an unacceptable defect. JSR’s analogy is to a handful of tainted golf balls being enough to spoil a batch the size of the entire Japanese archipelago.In addition to being technically challenging, the markets these companies operate in are small and don’t promise fantastic growth. According to research firm Fuji Keizai Group, the industry’s sales rose just shy of 8% last year to $1.3 billion. Koshiba jokes that even the market for ramen noodles is bigger than that.“To recreate JSR, you basically need to spend as much as they did in the past 20 years on R&D and relationships, and also rebuild their reputation,” Macquarie’s Thong said. “These materials are used in such moderate quantities that to rebuild the whole infrastructure is probably not worth the investment.”And that’s the irony of the current situation. By stoking trade tensions, Japan may encourage its neighbor to subsidize competition to JSR and TOK that wouldn’t make sense under normal market conditions. It’s a matter of survival: Korean corporations now depend on Japan for over 90% of all the fluorinated polyimide and resists they need, and 44% of hydrogen fluoride requirements, Societe Generale estimates.Read more: Japan Grants South Korea Export License, Lessening Trade FearsFor the time being, JSR and TOK retain dominance over one prized material that keeps the consumer electronics industry ticking. According to South Korean Prime Minister Lee Nak-yon, Japan has approved exports of photo-resist for the next-generation of lithography currently under development by Samsung and Taiwan Semiconductor Manufacturing Co. But one of Japan’s last strongholds of tech industry domination may be under threat.“They have the engineers, and once national pride is involved they can possibly make it even if it loses money,” Koshiba said. “We don’t have an impregnable wall.”\--With assistance from Jason Clenfield.To contact the reporters on this story: Pavel Alpeyev in Tokyo at email@example.com;Yuki Furukawa in Tokyo at firstname.lastname@example.orgTo contact the editors responsible for this story: Peter Elstrom at email@example.com, Vlad Savov, Edwin ChanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Apple Inc. plans to roll out the Apple TV+ movie and TV subscription service by November, part of a drive to reach $50 billion in service sales by 2020.The company will introduce a small selection of shows and then expand its catalog more frequently over several months, people familiar with the matter said. A free trial is likely as Apple builds up its library, said the people, who asked not to be identified because the plans aren’t public.The iPhone maker is entering an increasingly crowded field, led by streaming pioneer Netflix Inc. and Amazon.com Inc. In the coming months, Walt Disney Co., AT&T Inc. and Comcast Corp.’s NBCUniversal will debut new offerings -- all targeted at the growing ranks of viewers who are canceling cable-TV subscriptions or watching on mobile devices.With its Apple Shows Off Apple TV+ Video Service, Taking on Netflix’s first foray into video subscriptions, Apple is weighing different release strategies for shows. The company is considering offering the first three episodes of some programs, followed by weekly installments, the people said. Netflix tends to release whole seasons at once for bingeing, while AT&T’s HBO and Disney’s Hulu often release episodes weekly. The service will launch globally in over 150 countries.Apple TV+ will be one of five major digital subscription services in Apple’s portfolio, along with Apple Music, the upcoming Apple Arcade gaming service, Apple News+ and iCloud storage subscriptions. The company also generates recurring revenue from products like AppleCare extended customer service and its bank-operated iPhone upgrade program. It will also likely start pulling in revenue from the Apple Card, which began rolling out earlier this month.An Apple spokesman declined to comment.Apple hasn’t announced pricing for Apple TV+, but is weighing $9.99 a month, the people said, which would match Apple Music and Apple News+. Netflix and Amazon Prime charge as little as $8.99, while Disney+ plans to seek $6.99 when its service debuts in November.Revenue DriveApple is pushing into services to generate added revenue from its large base of iPhone, iPad, Mac, and Apple Watch users. Consumers have been slower to replace hardware recently due to higher prices, market saturation, economic headwinds and a lack of breakthrough new features.Read More: Apple Faces Life After IPhone But Still Banks on the IPhoneThe company could head off a revenue slowdown by coaxing users to subscribe to the new services. Cupertino, California-based Apple could also potentially boost revenue by tying services to the iPhone upgrade program, which lets customers update to new models annually via monthly payment plans.Apple’s initial slate of shows will include “The Morning Show,” Steven Spielberg’s “Amazing Stories,” “See” with Jason Momoa, “Truth Be Told” with Octavia Spencer, and a documentary series about extravagant houses called “Home.”On Monday, the company released the second trailer for “The Morning Show,” starring Jennifer Aniston, Reese Witherspoon and Steve Carell.The TV service will be part of Apple’s TV app, which comes installed on the company’s devices, and will also be accessible from third-party products, like Roku and Amazon Fire TV boxes, and Samsung televisions.In the fiscal third quarter, services represented a record 21% of Apple’s sales, while the iPhone continued to dip below 50% of the total.Analysts have suggested Apple TV+ could top 100 million subscribers in the next half-decade, which would make it a major challenger to Netflix and Amazon.The company is making a big commitment to video, including around $300 million alone to two seasons of “The Morning Show,” according to people familiar with the matter.That’s only a fraction of Netflix is expected to spend this year. Analysts forecast it will lay out more than $14 billion on films and TV shows.(Updates with geographic availability in fourth paragraph.)To contact the reporters on this story: Mark Gurman in San Francisco at firstname.lastname@example.org;Anousha Sakoui in Los Angeles at email@example.com;Lucas Shaw in Los Angeles at firstname.lastname@example.orgTo contact the editors responsible for this story: Nick Turner at email@example.com, Rob GolumFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Apple Inc. has committed to spending more than $6 billion on original content for its upcoming streaming-video service, which it expects to launch within two months, the Financial Times reported Monday. That would beat the launch of rival Disney+ from Walt Disney Co. , which is set to debut Nov. 12. Apple has not yet announced a price for its TV+ service, nor many other details, though a separate Bloomberg News report Monday said Apple is weighing a price of $9.99 a month, with a likely free trial period. The FT reported the first-year budget for TV+ has grown from $1 billion to more than $6 billion as it attempts to create a strong library of content to compete with a growing field of rivals. In comparison, streaming leader Netflix Inc. spent $13 billion on original content last year, and is expected to spend even more this year. The FT report said Apple is winning support in Hollywood with deals offering more money earlier in the production process.
Fitbit's health care business is showing considerable gains in a rapidly growing market with competitors like Apple and Garmin.
U.S. stocks climbed on Monday as reports of stimulus efforts in China and Germany calmed fears of a severe downturn in the global economy that were stoked last week as bond yields fell. China's central bank unveiled a key interest rate reform on Saturday to help steer borrowing costs lower for companies. After the market close, the Washington Post reported that White House officials have discussed the possibility of a temporary payroll tax cut to spur the U.S. economy, joining other global economic stimulus efforts.
It's time to check out 3 tech stocks that came through our screen today that growth investors might want to consider as we move beyond Q2 earnings season...
A low price point plus one-month free trial could make Apple Arcade an appealing option for millions of gamers worldwide, but old habits could still prove hard to break.
It is no secret that President Trump watches the stock market. It is less well understood that he has an uncanny sense of stock market timing. Having said that, even opponents of Trump with some objectivity ought to give him credit for his sense of market timing.
How do you make sure a car is really safe to drive? You crash it. That sounds a little crazy, but it makes perfect sense. There's really no better way to see how effective the seatbelt, airbags and any other safety feature is than to simulate the crash. And because these test crashes are used with dummies, you don't have to worry about anyone getting hurt. So, no harm, no foul.Source: Shutterstock Aside from testing how good the current safety features are, this kind of testing helps scientists identify the dangers they've missed. And that has led to new and more effective safety features on every vehicle on the road today.Let me use NASCAR as an example. When you've got somewhere between 30 and 40 race cars doing laps at over 100 mph, a pileup is almost unavoidable. So, the safety of the driver, pit crew and fans are of the utmost importance.InvestorPlace - Stock Market News, Stock Advice & Trading TipsSo, NASCAR crash tests to not only make sure the safety features work, but to find new ways to protect everyone involved. In fact, they even test their courses days before the race. And NASCAR (and the drivers) are not afraid of crashing the cars, either. Just take a look at the picture below.Source: AutoweekIt's a smart idea that has helped the races become much safer for drivers over the years since NASCAR first revved its engines in 1947.Now, companies are "crash testing" their own products and platforms to protect them from cyberhackers. Microsoft, Inc. (NASDAQ:MSFT) invited folks to try to hack their Azure Security Lab; Apple, Inc. (NASDAQ:AAPL) announced that it is going to give security researchers "special" iPhones to find weaknesses; and now the military is doing the same. Crash Testing CybersecurityRecently, the military gave seven hackers physical access to its F-15 military fighter jet. And after just two days, they found enough holes in the wall to shut down the Trusted Aircraft Download Station, which "collects reams of data from video cameras and sensors while the jet is in flight."Source: Defenseworld.netEven worse, the hackers found bugs they had flagged during a similar test back in November, which the Air Force had tried to fix, but, clearly, it failed.Will Roper, the Air Force's top acquisition official, believes it's due to putting cybersecurity on the backburner for so long.When speaking with the Washington Post, he stated that "There are millions of lines of code that are in all of our aircraft and if there's one of them that's flawed, then a country that can't build a fighter to shoot down that aircraft might take it out with just a few keystrokes."This is a great example of why cybersecurity is so important. Technology, whether it be in the cloud or on a plane, becomes a cybercriminal's playpen when it is not adequately secured.With cyberattacks expected to increase, companies are preparing for battle by spending more money on cybersecurity to keep them at bay. Globally, Gartner expects security spending to be more than $124 billion in 2019. That number is set to about double to $248 billion by 2023.For investors, this means incredible tailwinds on the legal side of the table. And I believe I've found the company to lead the charge. It's seen strong demand, a double-digit year-over-year increase in revenue and more than a 40% increase in annual earnings growth. And that's why I recommended it in my Growth Investor newsletter.In fact, it soared on its most-recent earnings results. And thanks to its strong underlying fundamentals and growth in the booming cybersecurity industry, I don't expect this stock to run out of fuel any time soon.To get the name of this company, as well my full research report on the cybersecurity industry titled The One AI Company Set to Corner the Booming Cybersecurity Industry, sign up here. I'll also give you two other must-read reports, The A.I. Master Key and The 1 Investment for the Coming 5G Revolution, which focus on artificial intelligence (AI) and 5G, respectively, absolutely free. These two industries are also set to see tremendous growth over years to come and I don't want you to miss out either. You can access them by clicking here.Louis Navellier is a renowned growth investor. He is the editor of four investing newsletters: Growth Investor, Breakthrough Stocks, Accelerated Profits and Platinum Growth. His most popular service, Growth Investor, has a track record of beating the market 3:1 over the last 14 years. He uses a combination of quantitative and fundamental analysis to identify market-beating stocks. Mr. Navellier has made his proven formula accessible to investors via his free, online stock rating tool, PortfolioGrader.com. Louis Navellier may hold some of the aforementioned securities in one or more of his newsletters. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Cheap Dividend Stocks to Load Up On * The 10 Biggest Losers from Q2 Earnings * 5 Dependable Dividend Stocks to Buy The post Cybersecurity Stocks: Why Companies 'Crash Test' Their Technology appeared first on InvestorPlace.
Good news about tariffs on iPhone, iPads, Macs, etc not kicking in until Dec 15 more than offset things like the FAA restricting some risky devices on flights, an antitrust probe in Russia and other.