VirnetX loses rulings in patents case with Apple, Bloomberg reports » 14:5607/1407/14/20
VirnetX's (VHC) '135 and '151 patents were invalidated in an agency review in the company's patent case against Apple (AAPL), according to Bloomberg.
Notable open interest changes for July 14th » 08:5507/1407/14/20
AAPL, TSLA, JPM, NIO
Monday's total option volume of 35.5 million contracts resulted in net open interest growth of 4.48 million calls and 3.36 million puts. Apple (AAPL), Tesla (TSLA), JPMorgan (JPM) and NIO (NIO) saw the greatest growth. Top five new positions opened include 38k Snap Inc. (SNAP) 7/31 weekly 24.5 calls, 31k AT&T (T) Jul-20 29.5 puts, 20k Bed Bath & Beyond (BBBY) Jul-20 8 calls, 20k STMicroelectronics (STM) Aug-20 35 calls and 17k Nordic American Tankers (NAT) Aug-20 4.5 calls.
Afterpay introduces Apple Pay for in-store payments » 07:5807/1407/14/20
Afterpay announced that…
Afterpay announced that its customers can now use Apple Pay to make purchases through Afterpay in physical retail stores and online. Beginning in July, select retail stores in the U.S. will begin offering Afterpay. Customers can initiate a purchase by simply tapping the "card" icon in the Afterpay app, which activates the Afterpay card in the Apple Wallet. Similar to using Afterpay online, customers in the U.S. will be able to pay securely and simply for their in-store purchases in four installment payments, without the need to take out a traditional loan or pay upfront fees or interest. The service is completely free for consumers who pay on time.
Apple sees 2020 return to offices unlikely, pushes remote work, Bloomberg says » 15:5607/1307/13/20
Apple is readjusting…
Apple is readjusting operations as COVID-19 cases continue to spike in the U.S. and some other parts of the world, Bloomberg's Mark Gurman reports. The technology giant is pushing retail staff to work remotely as the virus forces the company to shut some of its stores again, according to a video message sent to employees. It is also shipping COVID-19 test kits to employees' homes, and told staff in a memo that a full return to U.S. won't occur before the end of the year, the author adds. Reference Link
Actor Idris Elba enters first-look deal with Apple, Variety reports » 11:1807/1307/13/20
Actor Idris Elba and his…
Actor Idris Elba and his production company Green Door Pictures has entered a first-look deal at Apple, under which the company will produce series and features for Apple TV Plus, Variety's Joe Otterson reports, citing sources. Elba, who founded Green Door in 2013, is the latest star to sign a deal with Apple following Oprah Winfrey, Alfonso Cuaron, Julia Louis-Dreyfus, Justin Lin, Kerry Ehrin, Jason Katims, Lee Eisenberg, Monica Beletsky, Sharon Horgan, Alena Smith and Simon Kinberg.Reference Link
Wedbush boosts Apple target to $450 ahead of 'massive' iPhone cycle » 07:4207/1307/13/20
Wedbush analyst Daniel…
Wedbush analyst Daniel Ives raised the firm's price target on Apple to $450 from $425 and keeps an Outperform rating on the shares. The stock closed Friday up 95c to $383.68. During 2021 Apple will be the first company valued at $2 trillion given its "5G tailwinds and services momentum potential over the coming years," Ives tells investors in a research note. The analyst is seeing a "continued demand snapback" in China and believes the stage is setting up for a "massive pent up" iPhone 12 cycle heading into the fall. He estimates roughly 20% of iPhone upgrades will be coming from China over the coming year. Between 60M to 70M iPhones are in the window of an upgrade opportunity over the next year, says Ives, who has increasing confidence in the iPhone 12 growth story following channel checks in Asia. Apple is the analyst's favorite name to play the 5G theme and he "strongly" believes a "further re-rating of Apple's stock is on the horizon."
Data indicates 'strong recovery' in Apple iPhone sales, says KeyBanc » 07:3907/1307/13/20
AAPL, AVGO, QCOM, SWKS
KeyBanc analyst John Vinh…
KeyBanc analyst John Vinh notes that his Key First Look Data indicates a "strong recovery" in Apple's (AAPL) iPhone sales in June as Apple retail stores reopened. The strong uptick at brick-and-mortar stores was partially offset by month-over-month drop in online sales, which is likely driven by a shift to in-store purchasing, he contends. The analyst's latest carrier store surveys indicate demand remains subdued with sell-through demand largely tracking in line with lowered store expectations. While sell-through year-over-year is down significantly, store inventories remain at healthy levels, mitigating risk of a greater correction, Vinh argues. His favorite mobile names are Broadcom (AVGO), Qualcomm (QCOM), and Skyworks (SWKS).
Apple price target raised to $419 from $340 at Morgan Stanley » 06:4007/1307/13/20
Morgan Stanley analyst…
Morgan Stanley analyst Katy Huberty raised the firm's price target on Apple to $419 from $340 and keeps an Overweight rating on the shares. The firm's recent survey of 10,000 consumers across the U.S., UK, Germany, China and India indicated that 77% of consumers expect to trade in electronics by 2021, noted Huberty, who argues that if one assumes that iPhone trade-in adoption reaches the 77% level implied by the survey that affordability will improve by at least 10% over the next five years. She has raised her FY21 and FY22 iPhone shipment forecasts by 6% and 3%, respectively, citing improving iPhone affordability, an aging installed base, a broader phone line-up and "compelling" new features, Huberty tells investors.
Apple to see MacBook shipments rise over 20% in Q3, DigiTimes reports » 06:2407/1307/13/20
Apple is set to…
Apple is set to significantly increase its new MacBook Pro orders in late third-quarter 2020 and will see its overall MacBook shipments rise over 20% sequentially in the third quarter, DigiTimes' Aaron Lee and Joseph Tsai report, citing sources from the upstream supply chain. Reference Link
Gravity: Ragnarok Origin hits top 4 on Google Play, Apple App store in Korea » 06:1307/1307/13/20
GRVY, GOOG, GOOGL, AAPL
Gravity (GRVY) announced…
Gravity (GRVY) announced that Ragnarok Origin recorded meaningful performance in just five days after its launch on July 7, 2020 in Korea. Ragnarok Origin ranked as the fourth in sales of Google (GOOG,GOOGL) Play games and the fourth in sales of Apple's (AAPL)App Store games as of July 13. Even though so much traffic on the server was created by large numbers of users than expected from the first day of its release, it has succeeded as ranking at the top 4 of sales in such a short period of time. Gravity is doing its best to monitor for stable service and respond to users in real time.