|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||5.26 - 5.39|
|52-week range||3.87 - 6.31|
|Beta (5Y monthly)||0.72|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||0.29 (5.27%)|
|Ex-dividend date||23 Jul 2020|
|1y target est||N/A|
In this wide-ranging exclusive interview, Nano-X's CEO Ran Poliakine answers pressing questions about the company's technology, market opportunity, business model, and more.
(Bloomberg) -- Apple Inc. has asked suppliers to build at least 75 million 5G iPhones for later this year, roughly in line with last year’s launch, in a sign that demand for the company’s most important product is holding up in the midst of the global pandemic and recession.The Cupertino, California-based technology giant anticipates shipments of these next-generation iPhones may reach as high as 80 million units in 2020, according to people familiar with the situation. Apple plans to launch four new models in October with fifth-generation wireless speeds, a different design and a wider choice of screen sizes, said the people, who asked not to be identified discussing unannounced products.Among a comprehensive product refresh in the fall, Apple is also preparing a new iPad Air with an edge-to-edge iPad Pro-like screen, two new Apple Watch versions and its first over-ear headphones outside the Beats brand. A smaller HomePod speaker is in the works, too. An Apple spokeswoman declined to comment.Suppliers to the Silicon Valley giant rose on Tuesday. Taiwan Semiconductor Manufacturing Co. and LG Display Co. closed 2% up, lens supplier Largan Precision Co. climbed 4.1% and headphones assembler Goertek Inc. gained 2.1%. Apple rose 2% at 10:07 a.m. in New York.Apple and its manufacturing partners always ramp up production ahead of the rollout of new iPhones each fall. In the summer of 2019, suppliers were preparing to make components for as many as 75 million handsets. The target in 2018 was similar, so this year’s goal of 75 million to 80 million units is a bullish sign. Key iPhone assembly partner Hon Hai Precision Industry Co., also known as Foxconn, has put up several notices on WeChat over the past month recruiting workers for its main iPhone campus in the central Chinese city of Zhengzhou.While the Covid-19 outbreak has hammered the global economy and disrupted supply chains, Apple is seeing strong demand for iPhones, iPads and Mac computers from people working and studying remotely. Revenue from iPhones crushed Wall Street expectations in the most recent quarter. The device still generates almost half of Apple’s sales, and that often tops 60% in the holiday season. Apple shares have soared 76% this year, making it the first U.S. company to surpass $2 trillion in market value.The four new phones will be split into two basic and two high-end models for the first time, and all will feature OLED displays with improved color and clarity. The two regular iPhones will come in a new 5.4-inch size and a 6.1-inch option, while the Pro devices will offer a choice of a 6.1-inch or an enlarged 6.7-inch display, which will be the largest Apple’s ever put in an iPhone.All of the new smartphones will have updated designs with squared edges similar to the iPad Pro, and the high-end phones will continue to use stainless steel edges versus aluminum sides on the cheaper variants. The company is also planning a dark blue color option on the Pro models to replace the Midnight Green of 2019’s iPhone 11 Pro line.Read more: Apple Plans iPad-Like Design for Next iPhone, Smaller HomePodAt least the larger of the Pro phones will have the same LIDAR camera as on the latest iPad Pro, which allows augmented-reality apps to have a greater understanding of their surrounding environment. Among the most significant improvements of the new handsets will be the new A14 processor, upgrading speed and power efficiency.Some Apple employees testing the new devices think that the new 6.7-inch screen is one of this year’s most notable improvements, the people familiar with the situation said. A few testers have also found that some of the current 5G networks are not improving connection speeds much, the people added.Apple plans to ship the lower-end phones sooner than the Pro devices, according to people familiar with the staggered release strategy. During a recent conference call, Apple said the new iPhones would ship a “few weeks” later than last year’s models, which started shipping Sept. 20. This year’s rollout is on course to be the latest since the release of the iPhone X in November 2017.The design of this year’s iPhones and many features were finished before Covid-19 spread, but the pandemic did create issues for final testing and delayed the start of production by several weeks. While the new iPhones won’t ship until later, Apple’s iOS 14 software will arrive in September, the people said.Read more: Apple Culture of Secrecy Tested by Employees Working RemotelyThe new Apple Watch lineup will include a successor to the Apple Watch Series 5 and a replacement for the Series 3 that will compete with lower-cost fitness devices such as those from Fitbit Inc.The smaller HomePod will help Apple renew its push into the smart home at a lower price, albeit with fewer speakers inside the device than the current $299 model. While the first HomePod was praised for its audio quality, consumers have panned its limited Siri functionality and price. Earlier this year, Apple merged some of the Apple TV and HomePod engineering teams as it looks to renew its focus on home devices.Apple has also been developing a new Apple TV box with a faster processor for improved gaming and an upgraded remote control, however that device might not ship until next year, according to people familiar with its development. The company is working on a feature for the new remote similar to Find My iPhone that would make the TV accessory easier to find. The company’s other product in development is called AirTags, designed for locating physical items, which will be equipped with a leather carrying case, Bloomberg News has reported.(Updates with Apple shares in fourth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg) -- A key supplier to Apple Inc. and a dozen other tech giants plans to split its supply chain between the Chinese market and the U.S., declaring that China’s time as factory to the world is finished because of the trade war.Hon Hai Precision Industry Co. Chairman Young Liu said it’s gradually adding more capacity outside of China, the main base of production for gadgets from iPhones to Dell desktops and Nintendo Switches. The proportion outside the country is now at 30%, up from 25% last June.That ratio will rise as the company -- known also as Foxconn -- moves more manufacturing to Southeast Asia and other regions to avoid escalating tariffs on Chinese-made goods headed to U.S. markets, Liu told reporters after his company reported financial results.“No matter if it’s India, Southeast Asia or the Americas, there will be a manufacturing ecosystem in each,” Liu told investors on a conference call, adding that while China will still play a key role in Foxconn’s manufacturing empire, the country’s “days as the world’s factory are done.”Foxconn said in a statement Thursday that, contrary to “inaccurate media reports,” management’s comments during the call did not refer to any specific companies, facilities or products, and were intended to reflect macroeconomic and industry trends.Intensifying trade tensions between Washington and Beijing have pushed device manufacturers to diversify their production bases away from China, and Liu last year said that Apple’s most prized product, the iPhone, can be made outside China if needed. The two nations remain in trade talks, but Liu’s comments affirm a growing expectation that the China-centric electronics supply chain will fragment over the longer term.Read more: Trump Tumult Has Gadget Giants Splitting Along U.S.-China LinesThe Taiwanese company reported better-than-expected net income of NT$22.9 billion ($778 million) for the quarter ended in June, a period that saw increased demand for iPads and MacBooks. Revenue was NT$1.13 trillion, but Hon Hai warned it expects its third-quarter sales will be down by double digits relative to 2019. Apple is expected to delay its iPhone launch this year.Hon Hai is bouncing back from a record profit slump in the first quarter as production at its factories recovered and shelter-in-place orders spurred demand for home computing equipment. The pandemic likely boosted iPad and Mac sales, even as Apple store closures weighed on iPhone sales, Apple CEO Tim Cook said on July 31 after reporting quarterly revenue that crushed estimates. Apple accounts for half of Hon Hai’s sales.Read More: Apple Smashes Revenue, IPhone Estimates on Pandemic DemandEven as Apple outperformed, Hon Hai’s other customers have fared less well. Hong Kong-listed subsidiary FIH Mobile Ltd. said in its Aug. 7 earnings release that while Huawei Technologies Co.’s new phones have been popular in China, they missed expectations elsewhere following U.S. sanctions. Another key customer Xiaomi Corp. suffered a backlash in the Indian market amid growing tensions between China and the South Asian country. FIH lost $100 million in the first half.Foxconn has been shaking up its traditionally China-focused operations. Hon Hai is among Apple assembly partners that plan to expand operations in India, potentially helping the iPhone maker grow its presence in the country of 1.3 billion and shift some of the U.S. company’s supply chain outside of China as ties between Washington and Beijing fray.Chinese rivals are also posing a growing challenge. Local electronics titan Luxshare Precision Industry Co. is poised to become the first Chinese homegrown iPhone assembler after sealing a deal in July to buy an Apple handset production plant from Wistron Corp. While Hon Hai will keep assembly orders for premium iPhones, Luxshare will eat into the business for mid-to-entry-level Apple handsets, Fubon Securities analyst Arthur Liao wrote in a July 23 note.Foxconn will work on its component business to maintain tech leadership and it also benefits from its long-term relationship with Apple, Liu said in response to several analysts’ questions about Foxconn’s competitive strategy against the rising Chinese supplier.Orders could be further affected after President Donald Trump issued an executive order barring U.S. residents from doing business with Tencent Holdings Ltd.’s WeChat. Annual iPhone shipments could plunge 25%-30% if Apple is forced to remove the app from its app stores worldwide, TF International Securities analyst Kuo Ming-chi warned in an August 9 note.(Updates with Foxconn’s statement from the fifth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.