AAPL - Apple Inc.

NasdaqGS - NasdaqGS Real-time price. Currency in USD
+3.90 (+1.25%)
At close: 4:00PM EST

316.60 +1.36 (0.43%)
Pre-market: 9:22AM EST

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Previous close311.34
Bid316.06 x 1100
Ask316.85 x 900
Day's range312.09 - 315.62
52-week range151.70 - 317.57
Avg. volume26,604,166
Market cap1.382T
Beta (5Y monthly)1.24
PE ratio (TTM)26.51
EPS (TTM)11.89
Earnings date27 Jan 2020
Forward dividend & yield3.08 (0.99%)
Ex-dividend date05 Nov 2019
1y target est285.60
  • OneRepublic frontman Ryan Tedder thinks the future of music is in wearables
    Yahoo Finance

    OneRepublic frontman Ryan Tedder thinks the future of music is in wearables

    Apple and Spotify are giving artists and record labels a place to put their music, but OneRepublic frontman Ryan Tedder thinks wearables are what's really fueling the music industry.

  • Trump just scored two big wins on trade — but here's why stocks may still tank
    Yahoo Finance

    Trump just scored two big wins on trade — but here's why stocks may still tank

    Stocks are overbought and could be headed for a pullback.

  • Amazon’s Snooping on Alexa Chats Spurs EU Privacy Response

    Amazon’s Snooping on Alexa Chats Spurs EU Privacy Response

    (Bloomberg) -- European Union privacy watchdogs are gearing up to police digital assistants after revelations that Amazon.com Inc. workers listened in on people’s conversations with their Alexa digital assistants.Bloomberg first reported in April that Amazon had a team of thousands of workers around the world listening to Alexa audio requests with the goal of improving the software.Similar issues have been raised over Google and Apple Inc.’s digital assistants, triggering privacy fears across the world, as intimate conversations in some users’ homes were laid bare to technicians fine-tuning the technology.EU regulators are now working on a common approach on how to police the technology, said Tine Larsen, head of the data protection authority in Luxembourg, where the U.S. retail giant has its European base and employs a staff of more than 2,000.“Because it’s a question of principle, the members of the EDPB should work out a common position in line with the consistency mechanism to apply data protection rules in a harmonized way for this type of treatment,” she said, referring to a panel of regulators from across the 28-nation EU.The revelations of the snooping into people’s homes came after regulators across Europe were handed beefed-up powers with its General Data Protection Regulation in May 2018, including the right to levy fines of as much as 4% of a company’s global annual sales for the most serious violations. But the move toward common guidelines for digital assistants means companies should avoid fines -- for now.Larsen’s comments echo those of Helen Dixon, head of the Irish watchdog, responsible for overseeing the likes of Apple and Google.She told Bloomberg in November that the regulator first has to “bottom out fully on whether it’s true” when companies say they need to do transcripts of people’s interactions with the assistants. That’s why a focus will be first on coming up with guidelines, instead of investigations or inquiries, she said.Amazon said in a statement that “to help improve Alexa, we manually review and annotate a small fraction of 1% of Alexa requests” and that “access to data annotation tools is only granted to a limited number of employees who require them to improve the service.”EU regulators are working on a common position on the privacy issues surrounding voice assistant systems, said Johannes Caspar, head of the watchdog in Hamburg, Germany. “We urgently need common and reliable industry standards on this to better regulate” privacy protections, he said in an email.Caspar’s office initiated a number of probes into the issue, including one into Facebook over audio transcriptions from its Messenger users, he said. The questions his office has asked of Facebook have been discussed within the EDPB, the EU body of national regulators. The plan is to use the results to have a more coordinated approach by all European regulators affected by the issue, he said.Europe Mulls New Tougher Rules for Artificial IntelligenceThe U.K., which is set to leave the EU at the end of the month, will soon publish the results of a consultation into security features for smart speakers and other connected devices, with proposals for mandatory industry requirements that could lead to potential new regulation, U.K. Digital Secretary Nicky Morgan told Bloomberg Wednesday.Siri ChangesApple, whose Siri virtual assistant is embedded in its operating phone and desktop computer operating systems, pointed to an August blog post about the issue.“We know that customers have been concerned by recent reports of people listening to audio Siri recordings as part of our Siri quality evaluation process — which we call grading,” it said. “We heard their concerns, immediately suspended human grading of Siri requests and began a thorough review of our practices and policies. We’ve decided to make some changes to Siri as a result.”Google, which offers similar technology, didn’t immediately respond to requests for comment.While Amazon is escaping penalties over Alexa, Luxembourg, which is the company’s main privacy watchdog in Europe, is probing the company for other potential breaches.This follows complaints from activists that the online retailer is illegally tracking and profiling internet users without their permission, as well as not providing full access to users’ data.Amazon ‘Cooperating’The company says it’s “cooperating” with the authority, “which is at an advanced stage of its fact finding,” according to an emailed statement. The data commission declined to comment on any probes, citing local rules.French privacy activists La Quadrature du Net, filed one of the complaints on behalf of more than 10,000 customers. They urge regulators to crack down on “behavioral analysis and targeted advertising” by Amazon and levy a fine that is “as high as possible” due to the “massive, lasting and manifestly deliberate nature” of the alleged violations without the consent of its users.None of Your Business (Noyb), a group created by Austrian activist Max Schrems, followed up with a separate complaint last January over data access concerns, accusing Amazon of violating EU law by not handing over all personal data requested by a user of its Amazon Prime service.Arthur Messaud, a lawyer with La Quadrature du Net, and Schrems said they’d had no updates from the Luxembourg regulator, which is bound by strict secrecy provisions under national law, meaning it can’t reveal details until after any fines have been levies and all avenues of appeal have been exhausted.(Updates with Amazon, German regulator responses from ninth paragraph)\--With assistance from Natalia Drozdiak.To contact the reporter on this story: Stephanie Bodoni in Luxembourg at sbodoni@bloomberg.netTo contact the editors responsible for this story: Anthony Aarons at aaarons@bloomberg.net, Peter Chapman, Giles TurnerFor 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.

  • 5 Top-Ranked Stocks to Ride on the S&P 500 Rally in 2020

    5 Top-Ranked Stocks to Ride on the S&P 500 Rally in 2020

    The S&P 500 Index reached a milestone on Jan 16 after closing, above the technical threshold of 3,300 for the first time.

  • Hate TV Ads? Peacock May Change Your Mind

    Hate TV Ads? Peacock May Change Your Mind

    (Bloomberg Opinion) -- Comcast Corp.’s soon-to-launch Peacock service shows that advertising is the future of streaming TV. Consumers may be OK with that. On Thursday, the cable giant’s NBCUniversal entertainment division showcased Peacock to investors ahead of the app’s soft launch slated for April 15. Like Netflix, Disney+ and HBO Max (and to some extent, the content-lite Apple TV+), Peacock offers a library of movies; older and current network TV shows, such as “The Office” and “This Is Us”; and original programming made exclusively for its streaming audience. But it differs from the other services in one significant way: Peacock’s primary source of revenue will be ads, not subscriptions, allowing viewers the option of streaming for free. Let’s face it, paying for individual streaming-video apps at $7, $13 and $15 a pop isn’t all that cord-cutting was cracked up to be. The streaming-TV subscription model is brand new and broken. One app isn’t enough, yet having multiple subscriptions can get so expensive customers are left to wonder why they even got rid of cable. The streaming wars haven’t been a delight for the entertainment giants and their shareholders, either: These new apps are extremely costly to build and to stock with content, and they’ll cannibalize the larger revenue streams generated by traditional TV networks. Put it this way: TV just seems to work better for everyone when the consumer is the product, able to be sized up by advertisers desperate for a few moments of our time in hopes of activating a shopping reflex.Anecdotally, it’s said that viewers can’t stand ads. But in fact, research has shown that the No. 1 gripe for video subscribers is how much they’re paying. In a survey of about 6,000 North Americans conducted for TiVo Corp. toward the end of last year, about 70% said their reason for cutting the cord was that pay TV was too expensive. A separate survey by Ampere Analysis Ltd. similarly found price to be by far the biggest motivator for consumers switching to ad-supported apps, and 39% said they don't mind seeing ads while they watch. “We continue to believe consumers do not hate ads,” Rich Greenfield, an analyst for LightShed Partners, wrote in a report this week. “They hate heavy ad loads of un-targeted, repetitive ads in contrast to Instagram where the ads feel more like content.” Peacock is promising just five minutes of ads per hour.Media companies developing streaming services shouldn't underestimate the power of “free,” my colleague Sarah Halzack and I wrote last year in a column highlighting the appeal of ad-supported streaming offerings, such as Tubi, The Roku Channel and Pluto TV, which is now owned by ViacomCBS Inc. But compared to the quality of those apps, Peacock doesn’t feel free — it has plenty of premium content, carefully thought-out navigation and features, and with the option to watch some programming live and other stuff on-demand. A fuller content library can be accessed with Peacock Premium for $5 a month, although Comcast subscribers — even those who only have internet service — can get that version at no extra cost. For $10 a month, Peacock can be ad-free. But Comcast is probably hoping everyone will opt for the ads. About 70% of Hulu’s subscribers are on its ad-supported version, Peter Naylor, who heads up advertising sales for Hulu, said at a conference last year. And according to LightShed’s Greenfield, Hulu makes more money from its ad-supported version than from its ad-free subscriptions.For Comcast, it’s about “light advertising and bundling,” Jeff Shell, the newly installed CEO of the NBCUniversal unit, said during Thursday’s presentation. It’s one of the first signs of ”the great re-bundling” that I wrote about in November, as media giants realize they need to do something about the big consumer pain point of streaming: too many subscriptions.Comcast predicts Peacock will have at least 30 million active accounts and $2.5 billion of revenue by 2024, and that Ebitda will break even by then. Walt Disney Co. estimates Disney+ will turn profitable that same year, but it will take at least twice as many subscribers paying about $7 a month to do so. Similarly, AT&T Inc. is forecasting HBO Max won’t start making money until 2025, even though its fee is $15 a month. Meanwhile, Netflix has insisted it won’t adopt ads, despite the company’s $19 billion of content obligations as it burns through billions of dollars of cash each year.Of course, if ads are the name of the game, the industry has work to do to make them less annoying. Hulu, which is controlled by Disney, has been on the forefront of trying new advertising methods that are less interruptive than traditional commercials. It rolled out “pause ads” last year, which promote a brand’s product on screen while a video is paused.Comcast may be the only media giant to fully embrace ads so far for its streaming debut, but others will probably transition to a model more like Peacock’s over time. After all, birds of a feather flock together.To contact the author of this story: Tara Lachapelle at tlachapelle@bloomberg.netTo contact the editor responsible for this story: Beth Williams at bewilliams@bloomberg.netThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Tara Lachapelle is a Bloomberg Opinion columnist covering the business of entertainment and telecommunications, as well as broader deals. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Amphenol (APH) to Report Q4 Earnings: What's in the Cards?

    Amphenol (APH) to Report Q4 Earnings: What's in the Cards?

    Amphenol's (APH) fourth-quarter 2019 results are likely to reflect lower demand across automotive and industrial end markets.

  • Product Strength to Aid Texas Instruments' (TXN) Q4 Earnings

    Product Strength to Aid Texas Instruments' (TXN) Q4 Earnings

    Texas Instruments' (TXN) Q4 performance may have been affected by weakness in overall demand, and increased competition in the auto and industrial space.

  • Bloomberg

    Senate Becomes a Hushed Courtroom for Trump Impeachment Trial

    (Bloomberg) -- The impeachment trial of President Donald Trump next week will transform the Senate into a packed but somber chamber where the most contentious matters will be hashed out behind closed doors.Chief Justice John Roberts will preside over the entire trial where 100 senators will sit silently in their seats, separated from their iPhones -- a stark contrast to the usual lengthy speeches delivered by senators to a nearly empty chamber.Here are some ways that the “world’s greatest deliberative body” will be transformed into a hushed courtroom:Silence or suffer ‘pain of imprisonment’Senators will be admonished at the start to “keep silent, on pain of imprisonment.” No talking or debate is allowed in the chamber during the trial. Theoretically, a senator could get thrown into the slammer for chatting up a neighbor or making an outburst during the proceedings. But it’s never been done before. Senators also are directed to stay in their seats throughout the proceedings -- no standing -- and have been told to restrict reading material at their desks to matters relevant to the trial.Checking cell phones at the doorSenators, staff and the press are forbidden from carrying phones and other electronic devices into the chamber, though Democratic Senator Mark Warner of Virginia was seen stealing a glance at his Apple Watch. Large cubbyholes have been installed just outside the chamber and in the cloakrooms to store phones and other electronics.Debating in secret sessionsArguments by House prosecutors and the president’s lawyers will be televised, but the senators’ discussions on the most sensitive aspects of the trial will be in closed session. Under Senate rules, senators serving as jurors are supposed to listen, not publicly debate the trial’s rules or even Trump’s guilt or innocence. The proceedings will go into secret session when the arguing takes place, unless most senators agree to an effort by Minority Leader Chuck Schumer or other Democrats to keep things open.Trial rules based on Clinton impeachmentSenate rules on impeachment trials date to 1986 and provide little structure. Majority Leader Mitch McConnell will offer a resolution Tuesday to lay out the trial’s terms. He said it will largely follow the structure of President Bill Clinton’s 1999 impeachment, putting off the question of witnesses until after both sides present their case and answer senators’ questions, which will be submitted through the chief justice. McConnell said he will be able to pass the resolution with just Republican votes.The first fight -- likely to take place out of public view -- will be over what amendments to trial procedures Schumer can offer, including his proposal to call White House acting Chief of Staff Mick Mulvaney and former National Security Advisor John Bolton as witnesses. Based on the Clinton trial, the public will only see the roll call votes on amendments and McConnell’s resolution on trial rules.Rare Saturday work days for senatorsWhile the Senate is usually in session just four days a week, the trial is expected to keep the chamber at work every afternoon for six days a week starting Tuesday. But mid-trial procedural issues may give the senators -- including four who are seeking the Democratic presidential nomination -- a chance to leave town.News media in velvet-roped pensThe level of security goes far beyond the Senate’s normal operations, with more Capitol Police, restrictions on staff and public spectators, and other rules senators say are intended to limit disruptions.The news media must get special passes limiting who can roam around the Capitol, and they’ll be almost entirely limited to talking with senators within velvet-roped pens, enforced by the Capitol Police. That will make it easier for senators to avoid being asked questions, although reporters can still catch senators boarding underground trains to their office buildings.Casting a tie-breaking voteWith the Senate converted to an impeachment court, there are open questions about how Roberts will enforce the rules. One of the most important questions could be how to break a tie vote, especially on whether to call witnesses or seek documents withheld by Trump. This issue may be addressed in McConnell’s proposed ground rules.All eyes will be on a handful of Republican senators to see if at least four will vote with Democrats on questions such as calling witnesses. Senator Susan Collins, who is seeking re-election in Maine this year, said she’s “likely” to support new witnesses after both sides’ presentations and senators’ questions. Senators Mitt Romney of Utah and Lisa Murkowski of Alaska have also indicated they would be open to hearing additional testimony.To contact the reporters on this story: Laura Litvan in Washington at llitvan@bloomberg.net;Steven T. Dennis in Washington at sdennis17@bloomberg.netTo contact the editors responsible for this story: Joe Sobczyk at jsobczyk@bloomberg.net, Anna Edgerton, Laurie AsséoFor 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.

  • Foxconn May Be About to Prove Elon Musk Wrong

    Foxconn May Be About to Prove Elon Musk Wrong

    (Bloomberg Opinion) -- Five years ago, in a routine display of trash talking, Tesla Inc.’s Elon Musk made a now infamous quip about how hard it is to manufacture automobiles.“Cars are very complex compared to phones or smartwatches,’’ he told German newspaper Handelsblatt. “You can’t just go to a supplier like Foxconn and say: Build me a car.”He may be proven wrong. Foxconn Technology Group, through its Hon Hai Precision Industry Co. unit, will establish a joint venture with Fiat Chrysler Automobiles NV, the Taiwanese company said in an exchange filing Thursday. While not yet signed, they expect their 50-50 enterprise will “develop and manufacture electric vehicles and engage in IOV (internet of vehicles) business,” referencing a growing ecosystem of connected cars that share location, weather, traffic and vehicle information.Hon Hai would be responsible for design, components and supply chain management, Chairman Young Liu told Debby Wu of Bloomberg News. Foxconn might not actually do final assembly, he said.If you’ve ever visited Foxconn’s global headquarters on the outskirts of Taipei, you’d know that the prospect of the company designing cars is disconcerting. It truly is one of the ugliest office buildings in the world. So let’s hope Fiat Chrysler takes the driver’s seat on that.However, components, supply chain management, and manufacturing are right up Foxconn’s alley. The company makes most of Apple Inc.’s iPhones and iPads, as well as a lot of the electronics that go into cars, including Teslas.Tesla’s then-head of vehicle engineering, Doug Field, whose resume includes Apple and Ford Motor Co., in February 2018 subtly dissed the Foxconn-Apple relationship. “The model at Foxconn was very different” from Tesla, because the Taiwanese company uses manual labor to achieve economies of scale quickly. The iPad is a product “whose simplicity is orders of magnitude below ours.” Field returned to Apple later that year.Let’s agree, cars are indeed more complicated than tablets or smartphones. But I’ll say that there’s no way Elon Musk could churn out half a million handsets per day, consistently, with quality and on time.By contrast, Foxconn, because of the reasons Field outlined, could be well placed to leverage its 40 years of experience in manufacturing, scale and manual processes to get Fiat Chrysler to mass production of electric vehicles quicker than almost anyone in the world. After all, Foxconn’s giant workforce and scale mean it’s the only company that can churn out 5 million iPhones a week at launch every year for the past decade.With scale comes not just cost advantages but supply-chain leverage, an important element when you’re hunting down parts that may be in short stock. Batteries, for example, have been a bottleneck for Tesla deliveries in the past. But when your client list includes Apple, Dell Inc., HP Inc. and a dozen other companies that need batteries by the container, suppliers are likely to put you higher on the priority list. Given that they’re the largest cost of an electric vehicle, solving both the supply problem and then using scale to force costs down could give Foxconn and Fiat Chrysler an edge.Having electric vehicles more readily available and delivered on time might even take the gloss off the cult of Tesla, which is driven in part by the difficulty of getting your hands on one. Yet Fiat Chrysler needs to ensure that Foxconn doesn’t mess it up. It’s known to be domineering in partnerships, with an obsession toward efficiency and cutting costs, rather than value-added branding. Its venture with HMD Global Oyj to revive the Nokia name looked promising until Foxconn executives started pulling rank, overruling those who truly knew how to design and market phones. Many of the talented members of the consortium left and the brand is unlikely to see the revival that many had expected.Sure, Fiat Chrysler is taking a risk by betting on Foxconn. But the U.S.-Italian car company doesn’t have much to lose, and knows that it has little time to waste. Chief Executive Officer Mike Manley is hoping to merge with France’s PSA Group, and told investors in October that electrification could happen on a grand scale after that.It’s also likely to join a self-driving car venture being set up by BMW AG and Daimler AG, Bloomberg reported this month. Such plans necessitate the kind of electric vehicle technologies it doesn’t currently have. Foxconn doesn’t, either, but between them there’s every chance the two companies can develop or acquire what’s needed.If Foxconn really wants to make it in electric vehicles, it will need to learn from Fiat Chrysler the importance of good design, marketing savvy, and brand mystique. In other words, a little bit of Elon Musk.Just not too much.To contact the author of this story: Tim Culpan at tculpan1@bloomberg.netTo contact the editor responsible for this story: Patrick McDowell at pmcdowell10@bloomberg.netThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Tim Culpan is a Bloomberg Opinion columnist covering technology. He previously covered technology for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Europe Scrambles to Fight Off Threat of U.S. Tariffs on France

    Europe Scrambles to Fight Off Threat of U.S. Tariffs on France

    (Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. The European Union’s trade chief said the race is on to avert an escalation in transatlantic commercial tensions as a result of U.S. objections to a French digital-services tax.European Trade Commissioner Phil Hogan said coming days could determine whether the EU succeeds in helping broker an international agreement on the taxation of digital businesses through the Organization for Economic Cooperation and Development.“Next week is a very important week to try and see, could we come to a positive outcome on this,” Hogan said in a Bloomberg Television interview on Thursday in Washington. “I’m not going to prejudge the outcome.”President Donald Trump is threatening to hit $2.4 billion of French goods with tariffs in retaliation for the digital-services tax in France. The U.S. alleged on Dec. 2 -- the day after Hogan became EU trade chief -- that France’s levy discriminates against American technology companies such as Google, Apple Inc. and Amazon.com Inc.If realized, this would mark the first time the Trump administration had deployed against Europe a policy tool -- Section 301 of a 1974 American law -- reserved so far for the trade war with China. The prospect has alarmed the EU, which is already scrambling to expand its policy arsenal in response to a separate U.S. threat to the rules-based international system.Hogan signaled that talks on the matter between French Finance Minister Bruno Le Maire and U.S. Treasury Secretary Steven Mnuchin are key.Le Maire and Mnuchin “are in daily communication to see how we can move this process along toward some compromise,” Hogan said.To contact the reporters on this story: Jonathan Stearns in Washington at jstearns2@bloomberg.net;Vonnie Quinn in Washington at vquinn@bloomberg.netTo contact the editors responsible for this story: Brendan Murray at brmurray@bloomberg.net, Michael Heath, Alexandra VeroudeFor 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.

  • IPhone Manufacturer Gets Into Electric Cars Via Fiat Venture

    IPhone Manufacturer Gets Into Electric Cars Via Fiat Venture

    (Bloomberg) -- Hon Hai Precision Industry Co., the main assembler of Apple Inc.’s iPhones, will establish a joint venture with Fiat Chrysler Automobiles NV to develop and make electric vehicles in China.Hon Hai and its subsidiaries will hold 50% of the venture and Fiat Chrysler the rest, the Taiwanese company said in an exchange filing. While the two companies have yet to sign a formal agreement, they plan to target the Chinese market first and consider exporting cars later. They aim to ink the agreement in the first quarter, according to a person familiar with the matter, and Hon Hai’s Hong Kong-listed unit FIT Hon Teng will also be involved. Fiat Chrysler declined to comment beyond the filing.Shares of Hon Hai were up as much as 2.7% in Taipei trading Friday, their biggest intraday rise since mid-November and the main driver behind the benchmark Taiex’s gain.Hon Hai, the primary listed vehicle for Terry Gou’s Foxconn Technology Group, seeks to diversify from its role as the assembler of a swath of the world’s electronics from Macbooks to Sony Playstations. The company aims to employ its expertise in precision manufacturing and supply chain management to grow the automotive business to 10% of revenue in the long run, Chairman Young Liu told Bloomberg News.“Hon Hai will be responsible for design, components and supply chain management,” he said in a text message, adding that the company will not get into car assembly.Hon Hai and Fiat Chrysler are focusing on the Chinese market because of sheer volume, the executive said. While consumers in the country buy more electric vehicles than anywhere else in the world, sales have slumped since the government pared back subsidies amid a broader market downturn in demand.Hon Hai relies on Apple for about half of sales. Past attempts to diversify its product lines haven’t been entirely successful. The company has tried to invest in a number of electric-vehicle ventures but none has borne fruit. Hon Hai, which competes globally with the likes of Flex Ltd. and Jabil Inc., may now be counting on transferring years of consumer electronics production experience to an automotive arena that’s increasingly going high-tech.“As autos get more and more electrified and more and more digital components replace mechanical ones -- especially with EVs but also just traditional vehicles -- there’s scope for a real opportunity here,” said Matthew Kanterman, an analyst with Bloomberg Intelligence. “Vertical expertise is key in auto, and so a deal like FCA -- if it proves successful -- can help unlock doors for Hon Hai as that would be a strong reference account.”While Hon Hai has limited automotive experience, it does bring enormous supply-chain understanding to the table, said Michael Dunne, chief executive officer of consultant ZoZo Go. Tesla Inc. CEO Elon Musk told shareholders in 2014 that Foxconn was supplying some components to the electric-vehicle pioneer.From Fiat Chrysler’s perspective, the automaker has struggled to crack the Chinese market for years, and tightening fuel-economy standards and electric-vehicle mandates make the task even more challenging. Its market share in the world’s largest car market was less than 1% in 2018, well behind Ford Motor Co.’s 2.3% and General Motors Co.’s 13.8%.Chief Executive Officer Mike Manley is trying to reboot Fiat Chrysler’s money-losing Chinese operations. He restructured the automaker’s decade-old joint venture with Guangzhou Automobile Group in April, calling the shakeup an attempt to “more rapidly respond to changes in the Chinese market.”Read more: Mega Merger Wouldn’t Fix PSA-Fiat Chrysler’s China Woes(Updates with share price move and analyst comment)\--With assistance from Daniele Lepido.To contact the reporters on this story: Debby Wu in Taipei at dwu278@bloomberg.net;Gabrielle Coppola in New York at gcoppola@bloomberg.netTo contact the editors responsible for this story: Craig Trudell at ctrudell1@bloomberg.net, ;Edwin Chan at echan273@bloomberg.net, Cécile Daurat, Vlad SavovFor 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.

  • What You Need To Know About The US-China Deal

    What You Need To Know About The US-China Deal

    US-China made substantial headway in their trade conflict with phase 1 underway

  • Why Apple (AAPL) Stock is a Strong Buy Heading into Earnings

    Why Apple (AAPL) Stock is a Strong Buy Heading into Earnings

    With Apple's first quarter fiscal 2020 financial results due out on January 28, it's time for investors to see why AAPL stock appears to be a strong buy...

  • Alphabet Joins Apple and Microsoft in the $1 Trillion Club

    Alphabet Joins Apple and Microsoft in the $1 Trillion Club

    (Bloomberg) -- Alphabet Inc. hit a milestone on Thursday, as a rally in the stock took it above a $1 trillion valuation for the first time, solidifying the dominance of technology and internet stocks as the biggest titans of Wall Street.Shares rallied in the last half hour of trading to close at $1,450.16, up 0.8% on the day.With the gain, Alphabet became the newest member of an elite club to trade with the historic 13-digit market capitalization. Only two other U.S. names are past the threshold: Apple Inc., valued at about $1.38 trillion, and Microsoft Corp., at $1.27 trillion. Globally, the list is topped by Saudi Aramco, Saudi Arabia’s national oil company, which went public last month and currently has a market cap of about $1.8 trillion.Amazon.com Inc. flirted with the level last year, but the e-commerce company would have to rise more than 7% for its current valuation of $931.1 billion to return above $1 trillion.These four companies are by far the largest on Wall Street, and their huge size gives them an outsized impact on overall market direction. Together, they represent more than 15% of the weight of the S&P 500.The rest of the market is, at best, hundreds of billions of dollars away from trillion-dollar valuations. The fifth-largest U.S. stock by market cap, Facebook Inc., currently has a valuation of $632.9 billion. The biggest company outside the tech or internet sector is Berkshire Hathaway Inc. in sixth place, valued around $559 billion.Alphabet’s move above the level is just the latest step higher for the Google parent company. Shares are up about 40% from a June low, with the rally largely fueled by optimism over its 2020 prospects, particularly with respect to ad revenue. Alphabet will report fourth-quarter results on Feb. 3.Among recent commentary, Evercore ISI raised its price target on the stock to $1,600 from $1,350, writing that it expects the company will continue “to compound on its defensible dominance in Search and video advertising with YouTube.” Earlier this week, Deutsche Bank raised its own target to a Street-high view of $1,735, writing that the stock “trades too cheaply.” The firm cited more ad product launches, an expanded stock buyback program, and “improving competitiveness in the Cloud business.”To contact the reporter on this story: Ryan Vlastelica in New York at rvlastelica1@bloomberg.netTo contact the editors responsible for this story: Catherine Larkin at clarkin4@bloomberg.net, Steven Fromm, Jeran WittensteinFor 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.

  • High Times Plans Flagship Retail Stores, Clearing Way to Sell Cannabis through Dispensaries

    High Times Plans Flagship Retail Stores, Clearing Way to Sell Cannabis through Dispensaries

    Deals Signed with Holders of Dispensary Licenses in Los Angeles and Las Vegas By John Jannarone High Times announced it will open two flagship retail stores offering cannabis under dispensary licenses, giving the strongest brand in the marijuana industry a new engine of growth as it prepares for a public listing. Formally known as Hightimes […]

  • Is Apple (AAPL) Stock Outpacing Its Computer and Technology Peers This Year?

    Is Apple (AAPL) Stock Outpacing Its Computer and Technology Peers This Year?

    Is (AAPL) Outperforming Other Computer and Technology Stocks This Year?

  • Bloomberg

    Apple Music, NBA Strike Deal for Playlist, Songs in Highlights

    (Bloomberg) -- Apple Inc. and the National Basketball Association on Thursday announced a partnership that includes an Apple Music playlist featuring independent artists from an emerging label.The Base:Line playlist will have about 40 songs with a hip-hop vibe and will be refreshed weekly, Jeff Marsilio, the NBA’s senior vice president of new media distribution, said in an interview. The tracks will also be available on the NBA app and website, and will be used in game highlights shared on social media, the NBA said.Eddy Cue, Apple’s services chief and a well-known NBA fan, was involved in the deal. He said Apple is excited about the partnership and that the playlist is designed to support emerging and established independent “urban artists.”While the playlist will be maintained by Apple, many of the songs will come from UnitedMasters, a relatively new music label that connects about 190,000 independent artists to audiences through direct partnerships with brands.“There’s more supply than the conventional legacy labels can handle,” UnitedMasters founder Steve Stoute said in an interview. “Artists today are getting to audiences before getting to a record company.”Apple is relying on digital services to buoy revenue as growth of hardware products like the iPhone slows. Apple Music has more than 60 million paying subscribers, trailing Spotify Technology SA globally. New partnerships such as the NBA deal may bring in new subscribers who are fans of the game.To contact the reporters on this story: Mark Gurman in Los Angeles at mgurman1@bloomberg.net;Scott Soshnick in New York at ssoshnick@bloomberg.netTo contact the editors responsible for this story: Tom Giles at tgiles5@bloomberg.net, Alistair Barr, Molly SchuetzFor 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.

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