Apple becomes first company to hit $3 trillion market value, then slips

Apple Inc on Monday became the first company to hit a $3 trillion stock market value, before ending the day a hair below that milestone, as investors bet the iPhone maker will keep launching best-selling products as it explores new markets such as automated cars and virtual reality.

On the first day of trading in 2022, the Silicon Valley company's shares hit an intraday record high of $182.88, putting Apple's market value just above $3 trillion. The stock ended the session up 2.5 percent at $182.01, with Apple's market capitalization at $2.99 trillion.

The world's most valuable company reached the milestone as investors bet that consumers will continue to shell out top dollar for iPhones, MacBooks and services such as Apple TV and Apple Music.

"It's a fantastic accomplishment and certainly worthy to be celebrated," said Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa, Oklahoma. "It just shows you how far Apple has come, and how dominant it is seen as in the majority of investors' eyes."

Apple shared the $2 trillion market value club with Microsoft Corp, which is now worth about $2.5 trillion. Alphabet Inc, Amazon.com Inc and Tesla Inc have market values above $1 trillion. Saudi Arabian Oil Co is valued at about $1.9 trillion, according to Refinitiv.

"The market is rewarding companies that have strong fundamentals and balance sheets, and the companies that are hitting these sort of huge market caps have proven they are strong businesses and not speculation,” said Scott Wren, senior global market strategist at Wells Fargo Investment Institute.

Apple's shares have climbed around 5,800 percent since co-founder and former chief executive Steve Jobs unveiled the first iPhone in January 2007, far outpacing the S&P 500's gain of about 230 percent during the same period.

Under Tim Cook, who in 2011 became chief executive following Jobs' death, Apple has sharply increased its revenue from services like video streaming and music. That helped Apple reduce its reliance on the iPhone to about 52 percent of total revenue in fiscal 2021 from over 60 percent in 2018, pleasing investors worried the company relied too much on its top-selling product.

Still, some investors worry Apple is hitting the limits of how much it can expand its user base and how much cash it can squeeze from each user, with no guarantees that future product categories will prove as lucrative as the iPhone.

The rapid embrace of technologies such as 5G, virtual reality and artificial intelligence has also increased the allure of Apple and other Big Tech companies.

In China, the world's largest smartphone market, Apple continued to lead for the second straight month, beating rivals such as Vivo and Xiaomi, recent data from CounterPoint Research showed.

With Tesla now the world's most valuable automaker as Wall Street bets heavily on electric cars, many investors expect Apple to launch its own vehicle within the next few years.

"The icing on the cake, which may turn out to be the cake, is the potential for an EV car," Rhys Williams, chief strategist at Spouting Rock Asset Management said.

Just as Apple's market capitalization hits the $3 trillion milestone, its share price as a percentage of the Nasdaq 100 index's value is bumping up against a key technical level. In recent prior times, the stock price has risen above such a level and then subsequently declined.

-reuters-

Apple adding privacy fact labels to App Store items

SAN FRANCISCO, United States - Apple on Monday began adding labels that reveal what user data is gathered by games, chat or other software offered in the App Store for its popular mobile devices.

The iPhone maker announced plans for such "privacy labels" when it first unveiled the new version of its iOS mobile operating system, which it released in September.

"App Store product pages will feature summaries of developers' self-reported privacy practices, displayed in a simple, easy-to-read format," Apple said in a blog post when iOS 14 launched.

"Starting early next year, all apps will be required to obtain user permission before tracking."

Apple began pushing out the labels on Monday, with the rule applying to new apps for iPhones, iPads, Apple Watch, Apple TV and Mac computers.

The labels will contain information provided by developers when they submit apps for approval to appear on the App Store's virtual shelves, according to the Silicon Valley-based company.

Apple last week began requiring developers to submit privacy information for use in labels.

"Apple recently required that all apps distributed via their App Store display details designed to show people how their data may be used," Facebook-owned smartphone messaging service WhatsApp said in a blog post explaining what data the app gathers.

"We must collect some information to provide a reliable global communications service."

The aim, according to Apple, is for users to be able to easily see and understand what apps do with their data, from lists of contacts to where they are.

Data types added to labels will include tracking in order to target advertising or sharing with data brokers, as well as information that could reveal user identity.

Apple and Android mobile operating systems provide tools for controlling the kinds of data apps can access once they are installed.

Agence France-Presse

Apple TV+ gives US poet Dickinson a 21st century reboot

NEW YORK, United States—Apple's new streaming service is taking a 21st century look at the life of 19th century poet Emily Dickinson in hopes it will strike a chord with America's youth.

The series, simply called "Dickinson," stars 22-year-old actress Hailee Steinfeld in the leading role, and hums with updated language and music by teen idol Billie Eilish and rapper Travis Scott. 

"It's a great opportunity for younger people to look at Emily Dickinson's life and work in a very new way and a modern way," said Jane Krakowski, who plays the poet's mother.

"If we could do all history this way, I think kids would love history in school," she added during a panel discussion with reporters in New York this month.

The series lands on Friday when Apple TV+, the giant's new subscription service, goes online.

Apple is not the first broadcaster to tackle the enigmatic life of Dickinson, who only became famous after her death in 1886 at age 55.

"A Quiet Passion" hit movie screens in 2016 and "Wild Nights with Emily" came out in 2018. Both received glowing reviews but failed to connect with viewers at the box office.

The new Apple series, created by Alena Smith, takes a rather unique approach. 

The black comedy focuses on Dickinson's rebellious youth during an upbringing in a conventional middle-class New England household.

While the costumes and props make it look like a period drama, some of the slang used in conversation and popular music is distinctly modern.

"I see this as a coming-of-age story about a young radical artist who was ahead of her time," said Smith.

"I use modern language and modern music to show the way Emily's inner consciousness is bursting at the seams against the corseted repressive rules and norms of the 19th century that she's living in."


'APPLE TAKING RISK'

Steinfeld first gained attention in Hollywood about a decade ago, when she earned an Oscar nomination for her work opposite Jeff Bridges in a reboot of "True Grit."

But the target audience for "Dickinson" -- teens and young adults -- will know her from her roles in the "Pitch Perfect" films and the action movie "Bumblebee," part of the "Transformers" franchise.

"It's an incredibly contemporary story for young people because it's about a young queer poet wondering if there's space for her in the world," said Anna Baryshnikov, who plays Dickinson's sister Lavinia.

"Dickinson" focuses heavily on the protagonist's passionate relationship with her sister-in-law Susan Gilbert. 

Although there has never been any clear evidence of an affair, many experts suspect their relationship was more than just friendship.

With its mischievous tone and digressions, the series strives to reflect the richness of Dickinson's inner world to overcome what appears on the outside to be a monotonous existence. 

The poet spent almost her entire life in the family home, with little outside relief. She sought solace in poetry; the majority of her more than 1,000 poems were published after she died.

Apple TV+ is one of several new on-demand streaming platforms launching in the coming months to take on the might of Netflix and Amazon Prime. 

The surge in the number of services is providing fertile ground for unconventional series such as "Dickinson," its creators and cast say.

"I'm so grateful that Apple is taking this real risk. Because the space is so saturated right now, it leaves room for people to try things," said Baryshnikov.

source: news.abs-cbn.com

Oprah picks slavery novel for Apple TV book venture, says done with talk shows

Oprah Winfrey on Monday announced the first pick of her revamped popular book club with Apple's new television streaming service but made clear she had no plans to return to hosting a regular TV talk show.

Winfrey, one of the most influential women in U.S. television, chose “The Water Dancer” by critically acclaimed author Ta-Nehisi Coates, his debut novel about slavery.

"It is one of the best books I have ever read in my entire life," Winfrey said on CBS "This Morning." The inaugural "Oprah's Book Club" will premiere on Apple TV+ on Nov. 1.

Winfrey said the new book club venture would feature interviews with authors from Apple stores in world cities.

"It's the reason why I wanted to partner with Apple because you can build an entire community around the world, and you can have everyone in the world reading the same book," Winfrey told Ellen DeGeneres in a separate interview on "The Ellen DeGeneres Show" on Monday.

Winfrey is one of several big names, including Steven Spielberg and Jennifer Aniston, who have partnered with Apple for its venture into streaming original content.

Winfrey, however, ruled out any return to the kind of daily show that she ended in 2011 after 25 years.

"I'm kinda done with the talk show," she told DeGeneres.

"I can do whatever I want; that what's wonderful with Apple. I'm going to be doing documentaries. I'll do interviews when something comes along that feels like 'OG! I want to sit down and talk with that person.' But I'm kinda done with the every day," she said.

Apple said a new episode of "Oprah's Book Club" will be available every two months.

Coates, who won the 2015 National Book Award for his non-fiction work "Between the World and Me" about race in the United States, said on Monday that being picked was a "tremendous, tremendous honor."

source: news.abs-cbn.com

Apple unveils iPhone 11 models, with price cut

Apple unveiled its iPhone 11 models Tuesday, touting upgraded, ultra-wide cameras as it updated its popular smartphone lineup and cut its entry price to $699.

The newest handsets come as Apple seeks to spur new upgrades in a slumping global smartphone market.

The new iPhones are "jam packed with new capabilities and an incredible new design," Apple chief executive Tim Cook told a launch event in Cupertino, California.

The surprise from Apple was the reduction in the entry-level price at $699, down from the starting level of $749 for the iPhone XR a year ago even as many premium devices are being priced around $1,000.

Apple additionally unveiled a more expensive "Pro" model of the iPhone 11.

It also set launch dates for its original video offering, Apple TV+, and its game subscription service as part of efforts to reduce its dependence on the iPhone.

The TV+ service will launch November 1 in more than 100 countries at $4.99 per month and will include a "powerful and inspiring lineup of original shows, movies and documentaries."

Apple is featuring scripted dramas, comedies and movies as well as children's programs in the service, which will compete against streaming giants like Netflix and Amazon.

"With Apple TV+, we are presenting all-original stories from the best, brightest and most creative minds, and we know viewers will find their new favorite show or movie on our service," said Zack Van Amburg, Apple's head of video.

Apple said customers who purchase an iPhone, iPad, Apple TV, iPod touch or Mac will get the first year of the service for free.

The company's online gaming subscription service, Apple Arcade, will launch next week, offering exclusive titles for mobile and desktop users.

The new service, which will also cost $4.99 per month, will include more than 100 game titles made for Apple devices.

"You can't find these games on any other mobile platform or subscription service, no games service ever launched as many games, and we can't wait for you to play all of that," product manager Ann Thai told the Apple media event.

Apple also unveiled updates to its iPad tablet and Apple Watch smartwatch.

source: news.abs-cbn.com

Apple presses deeper with new iPhones and more

SAN FRANCISCO -- Apple is bolstering its money-pumping iPhone line while looking to dive deep into businesses with iPads and dominate living rooms with Apple TV hardware tuned to app-loving lifestyles.

Tricked-out new iPhone 6 models, along with overhauled Apple TV hardware and iPad Pro tablets with enlarged screens, were major announcements at the technology titan's media event Wednesday in San Francisco.

"Apple did the typical good job at the event," Gartner analyst Brian Blau told AFP. "Overall, I don't think it is going to push the needle for Apple in a good or a bad direction. These are great devices and cool features."

Apple shares ended the official trading day down slightly less than 2 percent at $110.15, and danced around that price in after-market trades.

"If you are an investor, you are probably not that excited about today because you didn't hear numbers and these features won't impact sales this quarter," Blau said.

3D touch

Apple introduced two updated iPhones to build on the success of large-screen handsets introduced last year that have dominated the high-end smartphone market.

The iPhone 6S and 6S Plus have the same overall dimensions as the previous versions, but with new technologies under the hood.

One of the key new features is called "3D touch," which responds to pressure exerted on the screen to allow users to look inside messages and applications.

"Apple has performed the ultimate conjuring trick: Change everything about the iPhone, but make it look almost identical to the old model," IHS Technology said in a posted analysis.

By responding to sensing pressure, the phones enable users to dip in and out of content without losing their place.

"It will further refine our use of touch as a main user interface," Blau said.

The 6S has the 4.7-inch display of its predecessor and the 6S Plus -- which updates one of the more popular handsets in the "phablet category" -- has the same 5.5-inch screen.

But the devices have more powerful processors that allow for improved graphics, harder glass and a new aluminum body. Pricing will be kept at the same levels as the earlier versions.

For those buying without carrier subsidies, Apple will sell the devices on a 24-month installment plan at $27 per month for the $650 iPhone 6S and $31 for the 6S Plus, making the price nearly $750.

Apple will take pre-orders starting Saturday and deliver the phones September 25 in the US, Britain, Australia, Canada, China, France, Germany, Hong Kong, Japan, New Zealand, Puerto Rico and Singapore.

iPad Pro

The new iPad Pro has the power and capabilities to replace a laptop computer, Apple said. It had aspects reminiscent of Microsoft Surface Pro tablets, such as covers that double as keyboards.

Apple chief executive Tim Cook called the device "the biggest news in iPad since the iPad."

The new tablet with a 12.9-inch display also includes a detachable keyboard and stylus, sold separately.

According to Apple senior vice president Phil Schiller, the device features "desktop-class performance" and operates faster than 80 percent of portable PCs that shipped in the last 12 months.

The new iPad will be available in November starting at $799.

The iPad Pro stylus, called Apple Pencil, was designed for high-precision illustration and 3D design applications. Apple Pencil will be sold for $99 more and the keyboard for $169.

Avi Greengart at the research firm Current Analysis tweeted that the new tablets "are aimed directly at enterprises. That's a long sales cycle, but could finally stop (the tablet market's) sales slide."

Upgraded TV box
Upgraded Apple TV includes voice search, touchscreen remote control and an app store in a challenge to Google, Amazon and Roku.

Apple TV was overhauled as people increasingly stream films and television shows on-demand online and turn to mobile applications for entertainment.

"We believe the future of television is apps," Cook said.

Apple released a software kit for outside developers, and showed off early versions of Apple TV applications already being crafted by show streaming services Netflix and Hulu, as well as HBO.

Apple TV has the potential to take the kinds of "casual game" apps popular on mobile devices and put them on television screens, according to analysts.

Ask for something funny

Siri virtual assistant software newly built into Apple TV will allow for natural language searches for shows -- for example, by asking for something funny or a certain actor by name.

The new Apple TV will launch in late October at a starting price of $149.

Apple TV has lagged rivals with similar devices. According to the research firm Parks Associates, Roku leads the US market with a 37 percent market share, to 19 percent for Google Chromecast and 17 percent for Apple TV. Amazon's Fire TV devices have 14 percent.

"For Apple TV to succeed it will have to give people what they already want on a TV: TV shows," said Forrester analyst James McQuivey.

Apple also said the operating system for its Apple Watch, watchOS 2, would be made available as a free update September 16.

The company offered no sales figures but Cook said customers "love using Apple Watch," and that user satisfaction "is an incredible 97 percent."

The latest iteration of the Watch, created with French fashion house Hermes, features a hand-stitched leather band and starts at $1,100.

source: www.abs-cbnnews.com

Apple TV overhauled for games, shows, shopping

SAN FRANCISCO -- Apple on Wednesday unveiled a new streaming television device with voice search, touchscreen remote control and an app store in a challenge to Google, Amazon, and video game console titans.

Apple TV was overhauled as people increasingly stream films and television shows on-demand online and turn to mobile applications for entertainment.

"Our vision for TV is simple, and perhaps a little provocative," Apple chief executive Tim Cook said at a media event in San Francisco. "We believe the future of television is apps."

Apple released a software kit for outside developers, and showed off early versions of Apple TV applications already being crafted by show streaming services Netflix, Hulu, and HBO.

Game makers are already working on applications, as are home-sharing service Airbnb and real estate-focused service Zillow, according to Apple executive Eddie Cue.

Siri virtual assistant software built in Apple TV allowed for natural language searches for shows, say by asking for something funny or a certain actor by name.

The new Apple TV will launch in late October at a starting price of $149.

Apple TV has lagged rivals with similar devices. According to the research firm Parks Associates, Roku leads the US market with a 37 percent market share, to 19 percent for Google Chromecast and 17 percent for Apple TV. Amazon's Fire TV devices have 14 percent.

source: www.abs-cbnnews.com

New ultrathin MacBook, Apple watch launched

SAN FRANCISCO - Apple Inc Chief Executive Tim Cook began showing off features of the new Apple Watch on Monday at a presentation in which he is expected to give details of the launch of the product, the first created under his leadership.

Shares of Apple were up about 1.4 percent at $128.41.

The watch will track exercise, remind wearers of events with a tap on the wrist, and make calls through an electronically tethered phone, since the watch has a built in speaker and microphone.

"I have been wanting to do this since I was five years old," said Cook, who called the device revolutionary. He also laid out other product successes and launched a new MacBook notebook computer that starts at $1,299 and weighs as little as 2 pounds.

Every major car brand had committed to delivering Apple's CarPlay entertainment system, and the new iPhone 6 and 6 Plus have 99 percent customer satisfaction rates, he said. The Apple Pay payment system is now accepted at 700,000 locations, and Time Warner Inc's HBO in April will debut its streaming HBO NOW service on Apple TV.

Apple also is offering researchers new development tools, called ResearchKit, to help medical researchers design apps for clinical trials, the company said. (Reporting by Edwin Chan and Alexei Oreskovic; writing by Peter Henderson; Editing by Bernard Orr)

source: www.abs-cbnnews.com

Is Apple worth $1.3 trillion? Icahn thinks so

Activist investor and major Apple Inc shareholder Carl Icahn said the iPhone maker's stock should be trading at $216, far above its record high of $124.92 hit on Wednesday.

At $216 per share, Apple - already the world's most valuable company - would be worth about $1.3 trillion, or about the size of South Korea's gross domestic product.

The company is valued at just over $700 billion currently.

Icahn said Apple should be trading at 20 times earnings per share, which taken together with net cash of $22 per share works out to $216 per share.

"This is why we continue to own approximately 53 million shares worth $6.5 billion, and why we have not sold a single share," Icahn said in a letter to his Twitter followers.

"Also, to the extent Apple introduces a TV in FY 2016 or FY 2017, we believe this 20X multiple is conservative," he wrote.

Icahn, one of Apple's top 10 investors, has long urged the company to buy back more shares and raise its dividend.

He said in October that Apple shares could double in value and urged the board to buy back more shares using its cash pile. At the time, the shares were trading at $100.

"...We look forward to the capital return program update in April, anticipating it will include a large increase to share repurchases," Icahn wrote.

Apple had cash reserves of about $178 billion as of Dec. 27, enough to buy IBM or the equivalent of $556 for every American.

Apple said last April it would return more than $130 billion to shareholders by the end of 2015.

According to StarMine's intrinsic valuation model, Apple should be trading at $140.90. That implies a compounded annual earnings growth rate of 9.9 percent over the next 10 years.

Apple shares closed 2.3 percent higher at $124.88 on the Nasdaq on Wednesday. Up to Tuesday's close, the stock had gained more than 22 percent since Oct. 9.

source: www.abs-cbnnews.com