Tag - Finance
According to a filing from Apple with the US Securities and Exchange Commission, the iPhone maker is planning to set up another bond sale to raise money for initiatives such as US expansion, stock buybacks, and dividend payouts. Apple, which has spent some $110 billion on share repurchases over the last few years, borrows money despite having a $216 billion dollar treasury because interest rates are low enough that the company saves billions compared to "repatriating" its foreign-held funds.
Apple is ending an investigation into its tax affairs by Italian authorities, by paying a settlement of €318 million ($347.5 million) to the country, far less than it could have ended up paying. The payment effectively ends Italy's probe into Apple's local subsidiary's finances, with authorities suspecting Apple of tax fraud by failing to comply with local tax laws for a five-year period ending in 2013.
An investigation into the tax-related finances of Apple in Europe will be completed by the end of this year, according to Ireland's finance minister. Michael Noon advised earlier today that the investigation by European Union regulators into whether or not Apple and other major multinational companies have benefited from using "illegal tax sweeteners" on the continent will be ruled upon in the coming weeks, one that could potentially cost companies millions.
You're rubbish with money, and that's one reason we feel a personal bond with you. However, you and we are also Mac users, and there is a way to get OS X to help us. It won't earn us anything, it won't save us anything, but if we work this right, then it will automate how we record our finances. That's a bigger thing than it sounds, because always knowing where you stand means always knowing whether you can afford that iPad Pro.
In what has now started to become a routine occurrence, AAPL on Friday ended the week with a new all-time record high for its stock, as well as its market capitalization. The stock closed on Friday at a price of $129.49 per share, though it is down a nickel in after-hours trading at the time of this article. The market cap for the company now stands at $754.28 billion after the stock rose 0.81 percent on the day, compared to $710 billion just 10 days ago.
Electronics retailer RadioShack has applied for Chapter 11 bankruptcy. Following a week of speculation, the troubled company filed its papers earlier today, and confirmed plans to sell off a large proportion of its stores to Sprint and Standard General, one which will provide the carrier with a considerable boost to its overall outlet count.
Apple's stock closed on Wednesday at a new all-time high, closing at $119.56 for the day, breaking the record set on November 26 when it closed at $119 even. The company, now valued at $696.41 billion -- more than a third more than the next most valuable publicly-traded company -- recently reported the best all-time quarterly revenue and profit of any company ever. The latest peak comes after a spike a week ago, following the results of the quarter.
Apple's stock closed on Monday at a year-to-date high-water mark, closing in on $600 as the repeated message of last week's earnings call -- Tim Cook's "we believe the stock to be undervalued" mantra -- appeared to sink in on the back of better-than-expected iPhone sales, an expansion of the stock buyback program and an announced 7-to-1 stock split taking place next month. The stock has jumped almost exactly $70 since last Thursday.
Though many analysts have already noted that Apple revenues in the Americas were down one percent year-over-year -- with global iPhone sales failing to meet the 55 million mark of consensus estimates -- less reported is that in most other areas, the company exceeded expectations. Sales of both Macs and iPads hit higher-than-predicted levels, and the company also beat consensus estimates for earnings per share (EPS) and gross margins. The 51 million iPhones sold, however, had serious repercussions on the stock.
T-Mobile is attempting to take on the banking industry by launching a personal finance service that allows users to manage their funds via smartphone apps. Working with Bancor, Mobile Money allows users to add funds to a prepaid Visa debit card and perform most of the tasks typically associated with a checking account, though for a large number of every-day actions, there will apparently be no fees charged to customers.
Now AAPL Stock: 136.53 ( -0.58 )
Cirrus creates Lightning-headphone dev kit
Apple supplier Cirrus Logic has introduced a MFi-compliant new development kit for companies interested in using Cirrus' chips to create Lightning-based headphones, which -- regardless of whether rumors about Apple dropping the analog headphone jack in its iPhone this fall -- can offer advantages to music-loving iOS device users. The kit mentions some of the advantages of an all-digital headset or headphone connector, including higher-bitrate support, a more customizable experience, and support for power and data transfer into headphone hardware. Several companies already make Lightning headphones, and Apple has supported the concept since June 2014. http://bit.ly/29giiZj
Apple Store app offers Procreate Pocket
The Apple Store app for iPhone, which periodically rewards users with free app gifts, is now offering the iPhone "Pocket" version of drawing app Procreate for those who have the free Apple Store app until July 28. Users who have redeemed the offer by navigating to the "Stores" tab of the app and swiping past the "iPhone Upgrade Program" banner to the "Procreate" banner have noted that only the limited Pocket (iPhone) version of the app is available free, even if the Apple Store app is installed and the offer redeemed on an iPad. The Pocket version currently sells for $3 on the iOS App Store. [32.4MB]
Porsche adds CarPlay to 2017 Panamera
Porsche has added a fifth model of vehicle to its CarPlay-supported lineup, announcing that the 2017 Panamera -- which will arrive in the US in January -- will include Apple's infotainment technology, and be seen on a giant 12.3-inch touchscreen as part of an all-new Porsche Communication Management system. The luxury sedan starts at $99,900 for the 4S model, and scales up to the Panamera Turbo, which sells for $146,900. Other vehicles that currently support CarPlay include the 2016 911 and the 2017 models of Macan, 718 Boxster, and 718 Cayman. The company did not mention support for Google's corresponding Android Auto in its announcement. http://bit.ly/295ZQ94
Apple employees testing wheelchair features
New features included in the forthcoming watchOS 3 are being tested by Apple retail store employees, including a new activity-tracking feature that has been designed with wheelchair users in mind. The move is slightly unusual in that, while retail employees have previously been used to test pre-release versions of OS X and iOS, this marks the first time they've been included in the otherwise developer-only watchOS betas. The company is said to have gone to great lengths to modify the activity tracker for wheelchair users, including changing the "time to stand" notification to "time to roll" and including two wheelchair-centric workout apps. http://bit.ly/2955JDa
SanDisk reveals two 256GB microSDXC cards
SanDisk has introduced two 256GB microSDXC cards. Arriving in August for $150, the Ultra microSDXC UHS-I Premium Edition card offers transfer speeds of up to 95MB/s for reading data. The Extreme microSDXC UHS-I card can read at a fast 100MB/s and write at up to 90MB/s, and will be shipping sometime in the fourth quarter for $200. http://bit.ly/294Q1If
Apple's third-quarter results due July 26
Apple has advised it will be issuing its third-quarter results on July 26, with a conference call to answer investor and analyst queries about the earnings set to take place later that day. The stream of the call will go live at 2pm PT (5pm ET) via Apple's investor site, with the results themselves expected to be released roughly 30 minutes before the call commences. Apple's guidance for the quarter put revenue at between $41 billion and $43 billion. http://apple.co/1oi1Pbm
Twitter stickers slowly roll out to users
Twitter has introduced "stickers," allowing users to add extra graphical elements to their photos before uploading them to the micro-blogging service. A library of hundreds of accessories, props, and emoji will be available to use as stickers, which can be resized, rotated, and placed anywhere on the photograph. Images with stickers will also become searchable with viewers able to select a sticker to see how others use the same graphic in their own posts. Twitter advises stickers will be rolling out to users over the next few weeks, and will work on both the mobile apps and through the browser. http://bit.ly/29bbwUE