(Bloomberg) -- Sign up for Next China, a weekly email on where the nation stands now and where it's going next.President Donald Trump said Apple Inc. Chief Executive Officer Tim Cook voiced concerns about chief competitor Samsung Electronics getting an edge because its products, unlike Apple’s, won’t be subject to tariffs when imported by the U.S.Cook and Trump had dinner on Friday night, while the president was at his golf club in Bedminster, New Jersey. Trump described the conversation to reporters as he prepared to travel back to Washington.The majority of Apple’s products are due to be hit with 10% tariffs in the next weeks or months. Levies on the iPhone, iPad, and Apple laptops have been pushed back to Dec. 15, but the tariff hit on the Apple Watch, AirPods, and many accessories is still planned for Sept. 1.Trump said Cook made a “good case” about the difficulty in competing with Samsung if Apple products are subject to import tariffs. “I thought he made a very compelling argument.”Apple will be hit by tariffs because it makes the majority of its devices in China before importing them to the U.S. and other parts of the world.Samsung, however, builds its products across several countries, including Vietnam and South Korea in addition to China. That means their tariff impact will be far less than the impact to Cupertino, California-based Apple.“It’s tough for Apple to pay tariffs if it’s competing with a very good company that’s not,” Trump said.Apple needs to incorporate the cost of tariffs into the cost of goods, while Samsung currently won’t, putting Apple at a competitive disadvantage. Samsung is launching its latest device, the Note 10, later this month, while Apple is planning upgrades to the Apple Watch, iPhone, and its computers for later this year.To contact the reporters on this story: Jennifer Jacobs in Washington at firstname.lastname@example.org;Mark Gurman in San Francisco at email@example.comTo contact the editors responsible for this story: Alex Wayne at firstname.lastname@example.org, Ros Krasny, Matthew G. MillerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Apple is suing startup Corellium for selling virtual copies of the iPhone and iPad operating systems under the pretense of detecting security flaws, in a copyright-infringement lawsuit filed Thursday in West Palm Beach, Florida.
'We are doing very well with China, and talking!' wrote the president over Twitter on Sunday, before also saying Apple's CEO makes a good 'case' about tariffs.
Following Apple's recall of a number of 15-inch MacBook Pro laptops due to concerns over the lithium ion battery and the potential to catch fire, owners of any 15-inch macOS powered laptops face an uncertain and chaotic landscape if they try to fly with them. In a statement, the U.S. Federal Aviation Administration said it was “aware of the recalled batteries that are used in some Apple MacBook Pro laptops” and stated that it alerted major U.S. airlines about the recall. The awkward twist is that this is not a blanket ban on the MacBook Pro 15 inch models purchased between September 2015 and February 2017 years, or even those purchased between those dates which are affected by the recall… strictly speaking it's the ongoing FAA ban on airlines carrying any lithium-ion battery that has been recalled by any manufacturer of any piece of consumer electronics.
Benzinga has examined the prospects for many investor favorite stocks over the past week. Bullish calls included tech leaders and a retail colossus. Bearish calls also included tech giants, as well as ...
Apple’s Mac notebook shipments outperformed the global market in Q2 with 19.8% YoY growth to 3.2 million units. Global notebook PC shipments rose 0.9% YoY.
While some Apple investors fret about declining iPhone sales, wearables are beginning to pick up the slack. One Wall Street analyst sees big opportunities for AirPods and the Apple Watch.
Good communicators know how they're going to answer questions about their company's products, financials, or vision. They don't ramble or give convoluted responses. They use words that are precise and assertive. And there are few leaders who do it better than Apple CEO Tim Cook. If you're an entrepreneur, small-business owner, or the CEO of a Fortune 500, most people don't understand your company as well as you do. You have a deep and unique knowledge of the company's vision, the market, and the customer. Controlling a conversation to clarify your company's business is a valuable skill to build. Here's how Tim Cook does it. When Apple released its most recent quarterly report, it showed that
We love big screens, and they don't get much bigger than the enormous 6.8-inch display in the Samsung Galaxy Note 10 Plus. With a stunning edge-to-edge design and a hole-punch selfie camera, the Note 10 Plus is beautiful as well as big. That extends to the screen technology too, with Samsung's most advanced Dynamic AMOLED tech being used to incredible effect. The Note 10's display is absolutely one of the best around right now. With all that going on, it makes sense to keep it protected. We've already highlighted the best Galaxy Note 10 Plus cases, but if you're also worried about your screen, then adding extra protection there might be a good idea. We've dug through a pile of screen protectors
(Bloomberg) -- Apple Inc.’s 13 billion-euro ($14.4 billion) battle with the European Union reaches the bloc’s courts next month in a hearing set to throw the spotlight on antitrust commissioner Margrethe Vestager’s crackdown on tax deals doled out to big companies.The EU’s General Court, its second-highest tribunal, will hear arguments in the challenges by the iPhone maker and Ireland over two days set for Sept. 17-18. The U.S. last year lost a bid to intervene in the case in support of Apple.The European Commission in August 2016 ordered Ireland to recoup the record sum plus interest, saying the world’s richest company was handed an unfair advantage. The EU decision reverberated across the Atlantic, triggering criticism from the U.S. Treasury that the EU was making itself a "supra-national tax authority" that could threaten global tax reform efforts.The Irish government said in an email it “profoundly disagrees” with the EU’s decision and “is engaging fully with the process and ensuring the best presentation of the state’s position.” The commission in Brussels declined to comment.Apple didn’t immediately respond to requests for comment.Appeals over tax cases have been piling up at the EU’s courts since 2015, when the commission issued its first orders against Luxembourg and the Netherlands to recoup unpaid taxes from a Fiat Chrysler Automobiles NV unit and Starbucks Corp. respectively.The court heard arguments in both cases last year with rulings yet to come. A first ruling in the series of decisions by EU antitrust chief Vestager ended in a setback in February for the EU when Belgium won a bid to overturn an order to recoup about 800 million euros from 35 companies, including Anheuser-Busch InBev NV.(Updates with EU response in fourth paragraph.)\--With assistance from Peter Flanagan.To contact the reporter on this story: Stephanie Bodoni in Luxembourg at email@example.comTo contact the editors responsible for this story: Anthony Aarons at firstname.lastname@example.org, Peter Chapman, Christopher ElserFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Loup Ventures Managing Partner Gene Munster says he doesn’t expect tariffs on Apple products despite Wall Street’s widespread speculation that the tech giant will be among the companies hurt by the U.S.-China trade war. “This is a critical misunderstanding. Ultimately, Apple products really don't have much tariff risk,” Munster said in an interview with Yahoo Finance’s The Final Round. “The reason is that Apple is an iconic U.S. brand that the U.S. government doesn't want to jeopardize. We don't expect tariffs on Apple products.”
Apple (AAPL) received some good news this week from an unexpected place: Trade War. The tech giant has been caught in the crosswinds of the US-China tariff battle, but the US announced it would delay the 10% tariff on about $300 billion of Chinese-made products like phones and laptops until December. While not out of the woods just yet, the delay gives Apple a bit more breathing room and more time for the two countries to come to a resolution. On the news, 4-star Wedbush analyst Daniel Ives maintained an Outperform rating on Apple stock, with $245 price target, which implies about 20% from current levels. (To watch Ives' stock ratings, click here)Though investors have expressed concern over US-China and Apple, Apple's stock has soared in 2019, and is only about 10% off its all-time high set in 2018. The company has faced other challenges over the past year, including the Chinese economy, price challenges on non-iPhone products, as well as iPhone demand. But in Asia, Ives says he has confidence that Apple will produce “between 75 million to potentially 80 million iPhone 11 units heading into the September launch period.” The analyst says these estimates are “roughly in line with the year ago period,” and backs up his thesis that Apple is seeing stable demand and still feeling confident heading into September. Further, even though the US-Chinese battle has contributed to blossoming success for Huewei — as Chinese customers are opting for Chinese-made products over US-made — Ives says Heuwei competition is not a major challenge for Apple. The analyst believes the “vast majority” of the 60 to 70 million Chinese consumers due for an iPhone upgrade will convert. Ahead of next month’s launch season, Ives expects a “trifecta of iPhone 11 releases,” including versions that have three-lens camera functionality. The analyst also expects the company to release an updated AirPods towards the end of the year, including new designs and waterproof capability. All in all, for a long time, nothing could stop Apple, but the recent US-China tensions have shown that the company is vulnerable. While the company received good news this week, questions remain. Adding to the uncertainty is the recent recession alarm sounded in the US. But nonetheless, Wall Street still views the company in good light. TipRanks analysis of 28 analyst ratings shows a consensus Moderate Buy, with 15 analysts saying Buy, 11 suggesting Hold and only two recommending Sell. The average price target among these analysts stands at $222.20, which represents about 10% upside from current levels. (See AAPL’s price targets and analyst ratings on TipRanks)
On Thursday, Apple shared an update on its promise. The company is on track to hit its promise of contributing $350 billion to the US economy by 2023.