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Fly News Breaks for September 21, 2018
Sep 21, 2018 | 11:27 EDT
Publicly available teardowns released so far for Apple's (AAPL) iPhone XS and XS Max have not identified a Qorvo (QRVO) part in either of the flagship phones, according to Nomura Instinet analyst Krysten Sciacca, who called this "surprising." Sciacca, who said she would have expected to find an envelope tracker alongside the Intel (INTC) baseband, continues to believe Qorvo has won additional tuning/antenna content, "which has historically been difficult, if not nearly impossible, to identify from a board photo." She also thinks Qorvo likely has higher content in the lower-cost iPhone XR, which will be released next month. Sciacca has a Neutral rating on Qorvo shares.
News For QRVO;AAPL;INTC From the Last 2 Days
Nov 15, 2018 | 16:31 EDT
Intel Corporation announced that its board of directors has approved a $15B increase in its authorized stock repurchase program. The company had $4.7B remaining under its existing repurchase authorization as of Sept. 29, 2018. Under this authorization, Intel is not required to purchase shares, but may choose to do so in the open market or through private transactions at times and amounts determined by the company based on its evaluation of market conditions and other factors.
Nov 15, 2018 | 15:44 EDT
Apple is enlisting indie studio A24 to produce a slate of films for the tech giant, according to Variety. The partnership comes as Apple is delving more deeply into making its own shows and movies, having previously signed deals with the likes of Steven Spielberg, Reese Witherspoon, and Oprah Winfrey, the report added. Apple did not provide many specifics about the deal beyond saying it was a "multiyear agreement" and involved multiple movies, the publication noted. Reference Link
Nov 15, 2018 | 11:15 EDT
Check out today's top analyst calls from around Wall Street, compiled by The Fly. MORGAN STANLEY DEFENDS... To see the rest of the story go to See Story Here
Nov 15, 2018 | 11:12 EDT
Calling the recent weakness in Apple (AAPL) shares following Lumentum's (LITE) and Qorvo's (QRVO) negative pre-announcements this week a “buying opportunity,” Morgan Stanley analyst Katy Huberty told investors that she is still bullish on the iPhone maker’s Services growth. This comes a... To see the rest of the story go to See Story Here
Nov 15, 2018 | 08:55 EDT
Wednesday's total option volume of 23.4 million contracts resulted in net open interest growth of 3.14 million calls and 2.92 million puts. Kinder Morgan (KMI), Apple (AAPL), Micron (MU) and Cisco (CSCO) saw the greatest growth. Top five new positions opened include 44k Kinder Morgan (KMI) Nov-18 18 calls, 43k Kinder Morgan (KMI) Nov-18 18 puts, 42k Kinder Morgan (KMI) Jan-19 18 puts, 42k Macy's (M) Nov-18 33 puts and 42k Kinder Morgan (KMI) Jan-19 18 calls.
Nov 15, 2018 | 07:25 EDT
Morgan Stanley analyst Katy Huberty called the 8.5% decline in Apple (AAPL) shares following Lumentum's (LITE) and Qorvo's (QRVO) negative pre-announcements this week a buying opportunity, noting that she is still bullish on the iPhone maker's Services growth. Services will "take the growth baton" from Devices as the smartphone market matures, contends Huberty. While she believes investors should focus on Services rather than iPhone units, Huberty also believes Apple's December quarter guidance incorporates the revisions made by Lumentum and Qorvo, adding that unit revisions are typically more severe for the supply chain than Apple given inventory fluctuations and the company's steps to ensure adequate supply early in a product launch. Huberty keeps an Overweight rating and $253 price target on Apple shares.
Nov 15, 2018 | 06:15 EDT
Yesterday, The New York Times published an article about the past two years at Facebook (FB). Facebook says in a statement that there are "a number of inaccuracies" in the story, including: " The story asserts that we knew about Russian activity as early as the spring of 2016 but were slow to investigate it at every turn. This is not true... We did not name Russia in our April 2017 white paper - but instead cited a US Government report in a footnote about Russian activity - because we felt that the US Director of National Intelligence was best placed to determine the source." Facebook also says: "We did decide that President Trump's comments on the Muslim ban, while abhorrent to many people, did not break our Community Standards for the same reasons The New York Times and many other organizations covered the news: Donald Trump was a candidate running for office. To suggest that the internal debate around this particular case was different from other important free speech issues on Facebook is wrong." The company also says: " Tim Cook has consistently criticized our business model and Mark has been equally clear he disagrees. So there's been no need to employ anyone else to do this for us. And we've long encouraged our employees and executives to use Android (GOOG, GOOGL) because it is the most popular operating system in the world." "Lastly we wanted to address the issue of Definers, who we ended our contract with last night. The New York Times is wrong to suggest that we ever asked Definers to pay for or write articles on Facebook's behalf - or to spread misinformation. Our relationship with Definers was well known by the media - not least because they have on several occasions sent out invitations to hundreds of journalists about important press calls on our behalf. Definers did encourage members of the press to look into the funding of 'Freedom from Facebook,' an anti-Facebook organization. The intention was to demonstrate that it was not simply a spontaneous grassroots campaign, as it claimed, but supported by a well-known critic of our company. To suggest that this was an anti-Semitic attack is reprehensible and untrue." Reference Link
Nov 15, 2018 | 05:36 EDT
Facebook (FB) CEO Mark Zuckerberg was so enraged by criticism from Apple (AAPL) CEO Tim Cook that he personally instructed executives to stop using iPhones in favor of Android (GOOG, GOOGL) devices, according to a report from The New York Times. Additionally, after Cook repeatedly and publicly called out Facebook for its privacy record, Facebook hired a public affairs company whose staffers wrote negative content about Apple, according to the report. Reference Link