Microsoft's co-founder, former CEO, philanthropist and longtime Apple rival Bill Gates has called Apple “an amazing company” with the best profit potential in the technology sector.
Bill Gates: Apple is “an amazing company”
Finance
Tim Cook talks succession, dividend distribution, and more at shareholder meeting
Tim Cook spoke at length regarding succession planning, divisent distribution, Apple Pay success, and more at Apple's annual shareholder's meeting today.
App Store to eclipse worldwide box office revenues sometime this year
App Store revenues may become bigger than the entire worldwide movie-making business sometime this year, with both industries likely to hit the $40 billion mark in the near future.
As Bitcoin surges, so does the Coinbase app in App Store
The price of Bitcoin has reached insanely ridiculous levels in the past few weeks, and no one knows exactly why. And as the popular blockchain cryptocurrency continues its surge, the Coinbase app for iPhone has now risen to the top of the free apps chart in App Store.
Apple denies reports that it moved untaxed offshore cash to the Channel Island of Jersey
Apple on Monday issued a press releasing denying today's reports from the BBC, The New York Times and others alleging that Tim Cook & Co. may have found creative new ways to sidestep a major EU crackdown on its controversial tax practices in Ireland.
Apple Pay support in Spain extended to CaixaBank and ImaginBank
Apple's mobile payment service in Spain has gained support for credit cards issued by the local bank CaixaBank and its mobile banking brand, called ImaginBank.
Apple to report June quarter earnings on August 1
According to an update on the Investor Relations website, Apple is scheduled to report its fiscal 2017 third quarter earnings on August 1. The Cupertino technology giant has scheduled a conference call with Wall Street analysts and investors to discuss the quarterly results for Tuesday, August 1, at 2pm Pacific Time / 5pm Easter Time.
A press release announcing the earnings typically goes out 30 minutes ahead of the earnings call. You'll be able to listen to the conference call live via Apple's website. Apple states that live audio streaming uses its HTTP Live Streaming (HLS) technology.
HLS requires an iPhone, iPad, or iPod touch with Safari on iOS 7.0 or later, a Mac with Safari 6.0.5 or later on OS X 10.8.5 or later or a PC with Microsoft Edge on Windows 10.
We'll be covering the earnings and any interesting tidbits from the conference call.
Apple has never been more valuable
Apple just notched a new market cap record. As the company's shares opened at a price of $149.06 per share on Monday, its market capitalization increased to a cool $776.60 billion. In other words, the iPhone maker just broke its own record after setting a market-cap peak in February 2015 at $774.7 billion.
As per The Wall Street Journal, Apple's stock has set record highs 17 times since February.
Shares of Apple rose 3.7 percent last week after the Cupertino firm reported earnings that were in line with Wall Street expectations and company forecasts. The most recent jump in Apple's stock price has pushed the company's valuation on Wall Street to $776.60 billion at Friday’s close, a new record for Tim Cook & Co.
The previous high for Apple’s market value was $774.7 billion in February 2015.
At the time of writing, the company's stock was trading above $150 for the first time ever—that's after factoring in a 7-for-1 split in 2014. At $151.62 per share, the company's market capitalization was about $790.6 billion this morning.
In a note distributed to clients Monday, Drexel Hamilton analyst Brian White set his Apple price target to $202 per share from $185. Were $AAPL to hit $202 per share, its market capitalization would be valued at $1.053 trillion.
Apple's stock is up 29 percent this year. According to public records on the Apple Investor website, the company has 5.213 billion shares outstanding.
Will Apple become the world's first trillion dollar company?
Let us know what you think in comments below.
Apple-backed Didi Chuxing raises $5.5+ billion from investors for international expansion
Chinese ride-hailing service Didi Chixung has successfully raised more than $5.5 billion from investors to bankroll an expansion beyond China and into driver-less technology.
Bloomberg reported Friday that Didi, which counts Apple as one of its backers, disclosed the latest round of financing in an emailed statement.
Chinese ride-hailing service Didi to receive $5B in funding for automated driving expansion
Chinese ride-hailing giant Didi Chuxing is near an agreement to raise $5 billion to $6 billion for automated driving expansion, Bloomberg reported Wednesday. The financing round will lift Didi’s valuation to a cool $50 billion, up from a previous $34 billion after its acquisition of Uber’s China business. It would make the Beijing-based company the country's top startup by market valuation, even surpassing handset maker Xiaomi, and the most valuable startup in the world after Uber.
iPhone manufacture Foxconn reports highest-ever holiday quarter net profit
Hon Hai Precision Industry, also known as Foxconn Technology Group, counts Apple as its key client. Foxconn assembles iPhones and their Apple contract accounts for more than half of the Taiwanese company's earnings. Yesterday, Foxconn reported both its highest-ever holiday quarter net profit and highest-ever gross margin since first-quarter 2013.
Warren Buffett’s stake in Apple now twice as large, reaches more than $18 billion
Berkshire Hathaway's position in Apple is now more than twice as large as previously disclosed at $18.2 billion, investment tycoon Warren Buffett told CNBC in an interview on Monday. At the end of last year, Berkshire Hathaway owned 61 million Apple shares, worth $7 billion at the time.
Buffet's annual letter to shareholders, which included a regulatory disclosure of its long positions, has revealed that his conglomerate had purchased about 120 million shares of Apple in 2017.