Internet doing just fine during pandemic, Barron's says » 09:5204/0404/04/20
VZ, T, CMCSK, CMCSA, NFLX, AMZN, AAPL
With everyone stuck…
With everyone stuck working and studying from home, Americans have become sensitive to any news about internet slowdowns, Eric Savitz writes in this week's edition of Barron's. Last month, European Union Commissioner Thierry Breton tweeted that everyone should all stream video in lower-quality standard definition in order to "secure Internet access for all." In response, Apple (AAPL), Amazon.com (AMZN), Netflix (NFLX), and Google's YouTube all announced plans to reduce their video streaming quality in Europe, the author notes. The good news is that U.S. networks are handling the traffic spikes without any major hiccups, with Comcast (CMCSA), the largest U.S. internet service provider, saying that its network is working well, with tests done 700,000 times a day through customer modems showing average speeds running 110% to 115% of contracted rates. AT&T (T), the No. 2 U.S. internet service provider, likewise asserts that its network is performing "very well" during the pandemic, Savitz adds, while Verizon (VZ) also saying its network is handling the traffic well. Reference Link
Apple acquires AI startup Voysis, Bloomberg reports » 17:3704/0304/03/20
Apple has purchased…
Apple has purchased Voysis, an AI startup that developed a platform for digital voice assistants to better understand users' natural language, Bloomberg's Mark Gurman reports. The startup focused on improving digital assistants within online shopping apps, so the software could respond more accurately to voice commands, Gurman notes. Reference Link
Apple buys voice tech company Voysis to improve Siri, Bloomberg says » 17:0704/0304/03/20
Apple has acquired…
Apple has acquired Voysis, an AI and voice technology company that the tech giant seeks to use to improve Siri, Bloomberg reports. Apple said it acquires smaller tech companies from time to time, Bloomberg notes.
Apple retail stores to remain closed until May, Bloomberg reports » 09:1004/0304/03/20
Apple said that its…
Apple said that its retail stores in the U.S. will remain closed and work-from-home procedures will stay in place until early May due to the COVID-19 pandemic, Mark Gurman of Bloomberg reported, citing a memo to employees from Apple senior VP of retail and people Deirdre O'Brien. The company anticipates that flexible work arrangements will remain in place. Reportedly, some retail outlets outside of the U.S. could open as early as the first half of April. Reference Link
Notable open interest changes for April 3rd » 08:5504/0304/03/20
LK, CCL, GE, AAPL
Thursday's total option volume of 22.5 million contracts resulted in net open interest growth of 2.80 million calls and 3.26 million puts. Luckin Coffee (LK), Carnival (CCL), General Electric (GE) and Apple (AAPL) saw the greatest growth. Top five new positions opened include 25k Energy Transfer (ET) Apr-20 5.5 calls, 23k Luckin Coffee (LK) Apr-20 13 calls, 20k Baker Hughes (BKR) Jan-21 25 calls, 20k Luckin Coffee (LK) Apr-20 5 puts and 19k Carnival (CCL) 4/3 weekly 9 calls.
Apple price target lowered to $335 from $370 at Cowen » 07:5604/0304/03/20
Cowen analyst Krish…
Cowen analyst Krish Sankar lowered the firm's price target on Apple to $335 from $370 and keeps an Outperform rating on the shares. The analyst lowered his iPhone unit estimates as well including no stock buybacks until at least June. He remains cautiously optimistic on 2021 with modest +4% growth.
Morgan Stanley trims Apple price target to $298 while suggesting to buy the dip » 07:1604/0304/03/20
Morgan Stanley analyst…
Morgan Stanley analyst Katy Huberty lowered the firm's price target on Apple to $298 from $328 as she cut her estimates further to align with the firm's weaker global GDP forecast. However, she keeps an Overweight rating on the shares, calling Apple her top IT Hardware Overweight idea given her continued view on the company's loyal customer base, strong balance sheet, and upcoming 5G catalyst. At $242, shares appear to be pricing in her bear case scenario that embeds a 4.4 year iPhone replacement cycle, which Huberty views as unlikely given the upcoming 5G iPhone launch, she stated in a note to investors titled "Embedding a Deeper Recession Outlook But Still Buying The Dip."
Apple price target lowered to $260 from $290 at Credit Suisse » 06:3004/0304/03/20
Credit Suisse analyst…
Credit Suisse analyst Matthew Cabral lowered the firm's price target on Apple to $260 from $290 and keeps a Neutral rating on the shares. In a research note to investors, Cabral says that with many iPhone users home around the world, he sees potential for the uptick in "screen time" translating into faster Services growth, but that to date, the data does not support this view with Sensor Tower suggesting App Store decelerated ~3 points quarter over quarter to +19% year over year in Q1 as the cadence in China slowed January to February to March and Rest of World remained consistent. Cabral says the stock is still not "cheap," especially given his view that iPhones are a large discretionary purchase at risk of being postponed against a backdrop of weak consumer spending, even with the addition of 5G.
AirTags confirmed in Apple Support YouTube channel, Appleosophy reports » 17:2204/0204/02/20
Pururaj Dutta of…
Pururaj Dutta of Appleosophy, says "Apple just uploaded a video on their Apple Support YouTube channel titled "How to erase your iPhone". This tutorial tells us about the process of erasing an iPhone to factory settings from the iPhone itself or through a computer." The Appleosophy story noted that " Under "Enable Offline Finding", Apple mentions "Offline finding enables this device and AirTags to be found when not connected to Wi-Fi or cellular." This phrase clearly mentions AirTags and can be seen if the video is paused at 1:42. " Reference Link
Spotify begins Siri suport for Apple Waches , 9TO5 Mac says » 13:0804/0204/02/20
Michael Potuck from 9TO5…
Michael Potuck from 9TO5 Mac wrote earlier that music streaming service Spotify (SPOT) has upgraded its app on Thursday "to take advantage of Siri support on Apple (AAPL) Watch in watchOS 6. "Spotify first released its Apple Watch app back in 2018, but it's been lagging behind on features like streaming music from the wearable, offline playback, and support for Siri," added the 9TO5 Mac story. Reference Link