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☆ Apple is no longer No. 1 in smartphones. Here's why that may not matter
▼ + stars: | 2024-04-15 | by ( Morgan Chittum | ) www.cnbc.com time to read: +4 min

New data showing a sharp decline in iPhone shipments due to weakness in China is unwelcome news for investors in Apple. Sluggish iPhone sales this year have been well documented, and they're the reason Apple shares have fallen roughly 9% in 2024. First-quarter numbers from International Data Corporation (IDC) show the extent of the weakness, with iPhone shipments dropping 9.6% year-over-year to 50.1 million units — its sharpest year-over-year loss out of the top five smartphone brands. That put Samsung back in first place for phone shipments, after Apple held the crown for all of 2023 . AAPL YTD mountain Apple YTD Echoing Jeff's remarks, Jim Cramer has advised members to have patience and "own, don't trade" Apple stock despite these headwinds overseas.

Persons: Jeff Marks, it's, Jim Cramer, Apple, iPhones, that's, Jim, Apple hasn't, Jim Cramer's, Alexi Rosenfeld Organizations: Apple, International Data Corporation, IDC, Samsung, Apple's Worldwide, Nasdaq, Microsoft, Nvidia, JPMorgan, 5G, The, Bloomberg, CNBC, Getty Locations: China, New York City

☆ CNBC Daily Open: Risk aversion in vogue
▼ + stars: | 2024-04-05 | by ( Clement Tan | In Clemtan | ) www.cnbc.com time to read: +3 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Hong Kong's Hang Seng Index edged up 0.1%., while mainland China markets remain shut for a public holiday. The Dow Jones Industrial Average closed down Thursday 1.35% at 38,596.98 in its biggest loss since March 2023 and fourth-straight daily loss. The profit guidance for 6.6 trillion Korean won ($4.89 billion) exceeded even LSEG's estimate of 5.24 trillion won.

Persons: Korea's Kospi, Brent, nonfarm payrolls, Dow, Janet Yellen, Yellen, hasn't Organizations: CNBC, Japan, Federal Reserve, Nikkei, West Texas, Dow Jones, U.S . Federal, Treasury, American, of Commerce, Chips, Samsung Electronics, Tech, Apple Locations: Asia, China, China U.S, Guangzhou, California

☆ Apple lays off over 600 California employees after shuttering car project
▼ + stars: | 2024-04-04 | by ( Kif Leswing | ) www.cnbc.com time to read: +1 min

Tim Cook, CEO of Apple, during an event at Apple Park campus in Cupertino, California, Sept. 12, 2023. Apple is laying off 614 workers in California, according to a new state filing, the company's first significant round of job cuts since the pandemic. The affected Apple employees worked at eight different facilities in Santa Clara, according to the WARN notice posted by California. The filing comes weeks after Apple canceled a long-running project to build an electric, self-driving car in a team called the Special Projects Group. Positions that were cut include machine shop managers, hardware engineers and product design engineers, according to the San Francisco Chronicle.

Persons: Tim Cook, Apple hasn't Organizations: Apple, San Francisco Chronicle Locations: Cupertino , California, California, Santa Clara, Cupertino

☆ British telco giant BT expects to launch 5G standalone — or 'true' 5G — later this year
▼ + stars: | 2024-03-01 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

Jason Alden | Bloomberg | Getty ImagesBARCELONA — British telecommunications giant BT says it expects to launch its first so-called "standalone 5G" network in 2024. Howard Watson, BT's chief technology officer, told CNBC that the telco group plans to switch on its standalone 5G network, which is often referred to in the industry as "true" 5G, later this year. "We've already been ensuring that the SIM cards that our customers have in their current 5G devices can do 5G standalone," Watson added. 5G standalone is different from 5G Advanced, though. 5G standalone refers to the development of a 5G network that isn't being built on top of 4G cores.

Persons: Jason Alden, Howard Watson, Watson, Milind Kulkarni, Kulkarni Organizations: BT Group, Bloomberg, Getty, BT, CNBC, Mobile, Congress, Swedish, Ericsson, Qualcomm, Apple, Samsung Locations: Reading, BARCELONA, British, Barcelona, Europe

☆ Apple CEO Tim Cook says company is 'investing significantly' in generative AI
▼ + stars: | 2024-02-28 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

The company sees "incredible breakthrough potential for generative AI, which is why we're currently investing significantly in this area," Cook said at Apple's annual shareholder meeting, which was held virtually. He also reframed several announced Apple products as "AI-powered," to emphasize that the company has been working on the technology for years. Current features that use Apple's AI technology include the Vision Pro's hand-tracking tool and Apple Watch's heart rate alerts, Cook said. At the meeting, Cook was not asked about the Apple Car project, which he'd previously called the "mother of all AI projects." The remarks came after Apple shareholders rejected a proposal that would compel the company to produce a report on AI risks.

Persons: Tim Cook, we're, Cook, Apple hasn't, Apple, he'd, Michael Forsythe, Wanda Austin, Al Gore, James Bell Organizations: Apple, Apple Watch, Employees, AFL, CNBC Locations: New York City

☆ People are trying to resell the Apple Vision Pro outside the US for more than double its $3,500 list price
▼ + stars: | 2024-02-08 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +1 min

Days after its launch, users are listing the Vision Pro at highly inflated prices outside the US. Some listed it for more than double the official price, adverts seen by Business Insider show. AdvertisementResellers are listing Apple Vision Pro headsets at highly inflated prices in marketplaces outside the US. One Gumtree advert seen by Business Insider shows the Vision Pro listed for £7,500, or $9,400. Apple is yet to announce an official launch date for the UK and markets outside the US.

Persons: — Organizations: Pro, Business, Apple, Service, Business Insider, Facebook

☆ Apple's sales plunged in China — these are the iPhone giant's 5 biggest problems right now
▼ + stars: | 2024-02-02 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +4 min

Andrew Caballero-Reynolds | AFP | Getty ImagesApple is facing renewed challenges in China, one of its most critical markets. The iPhone giant's sales in the greater China region in the December quarter fell nearly 13% to $20.8 billion. "This increased competition exerts pressure on both Apple's older models and the base models of its new series." For a long time, Apple has been seen as a luxury brand in China with high appeal among younger audiences. GeopoliticsAnd like many foreign technology firms operating in China, the specter of geopolitics constantly hangs over.

Persons: Tim Cook, Andrew Caballero, Reynolds, Will Wong, Shah, Josh Koren, CNBC's, Gen, Koren, Apple Organizations: Economic Cooperation, APEC, Apple, AFP, Getty, Huawei, IDC, CNBC, Musketeer Capital Partners, Samsung, Bloomberg Locations: Asia, San Francisco, China, Cupertino , California, 4Q23, Xiaomi

☆ Apple will report earnings after the bell
▼ + stars: | 2024-02-01 | by ( Kif Leswing | ) www.cnbc.com time to read: +5 min

Apple reports fiscal first-quarter earnings after the bell. Investors will be closely watching to see if Apple guides to growth again in the current quarter. Some analysts believe Apple's iPhone revenue may look good in a soft market quarter, outperforming rivals that are also seeing weak demand. But a strong quarter of iPhone sales over the holiday season could mean a seasonally weak March quarter. "We remain comfortable with our current assumption of muted uptake for the device under 1% of Apple sales this year and next," Rosenblatt analyst Barton Crockett wrote in a note Wednesday.

Persons: Tim Cook, Samik Chatterjee, Apple hasn't, Apple, Morgan Stanley, Erik Woodring, IPhones, Chatterjee, Rosenblatt, Barton Crockett Organizations: Apple, Management, Vision, JPMorgan, Apple Watch, Huawei, Amazon, Apple's, CNBC PRO Locations: Cupertino , California, China, F1Q24, U.S, F4Q, C4Q

☆ Spotify to begin in-app sales on iPhone in Europe after new EU law requires Apple to allow it
▼ + stars: | 2024-01-24 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

Spotify said Wednesday it will update its iPhone app in Europe to allow users to buy in-app subscriptions and audiobooks. In most regions, Apple's App Store rules prohibit companies such as Spotify from billing users directly within the app. Apple says app makers should instead use Apple's App Store billing service, which takes a cut of up to 30%. Spotify said it will use the new regulation to allow users to subscribe to Spotify Premium, allow users to buy audiobooks, and run promotional campaigns, all within the app. The company will also allow iPhone users to directly download other Spotify apps from its website, such as Spotify for Artists, it said.

Persons: gatekeepers, Tim Cook, Morgan Stanley, Erik Woodring Organizations: Spotify, Apple, Markets, SEC, Artists, App Locations: Europe

☆ Apple's products are great, even if they're boring
▼ + stars: | 2023-11-18 | by ( Michael Gartenberg | ) www.businessinsider.com time to read: +7 min

AdvertisementIn the past, I've argued that Apple products have become boring because Apple seems to have lost its way with useful product innovation. But the truth is, there's a very good reason why Apple doesn't do drastic changes to its products: slow, steady and reliable products are keeping Apple on top. To be fair, under CEO Tim Cook, Apple has had several big hit new products: Apple Watch and Air Pods, come to mind. While Air Pods will work with others, they are really designed to work best with Apple products. But ultimately, even if you find Apple products boring rather than classic, they are a great choice for those looking for long-lasting, high-quality, user-friendly, reliable technology.

Persons: I've, Tim Cook, Steve Jobs, —, Apple, Ai Pin, haven't, Sperry Docksiders, it's, Ive, Cook, Siri Organizations: Apple, Service, Vision, Apple Watch, Microsoft, Ferraris, Honda, BMW, Microsoft Kin, Rolex, Porsche, Jobs, Google, Ford Locations: Cook, Milan

☆ Apple expected to post fourth consecutive quarterly sales decline Thursday
▼ + stars: | 2023-11-01 | by ( Kif Leswing | ) www.cnbc.com time to read: +2 min

Apple is expected to post its fourth consecutive quarterly revenue decline when it reports earnings after the bell Thursday. They will also be paying close attention to any clues about how demand for the iPhone 15 lineup is faring. The September quarter isn't Apple's biggest or slowest quarter of the year and only includes about a week or so of iPhone 15 sales. Apple's fiscal fourth quarter period typically includes a little bit of back-to-school laptop and tablet spending benefitting its Mac and iPad divisions. The mood among analysts, especially in regard to expectations for the fourth quarter, is changing.

Persons: Tim Cook, haven't, They'll, Apple hasn't, Luca Maestri, Morgan Stanley, Erik Woodring, Samik Chatterjee Organizations: Apple Inc, Apple Locations: New York, China

☆ Apple TV+ is raising prices and expanding its content ambitions — here are the shows and movies it wants now, per leaked Hollywood agency documents
▼ + stars: | 2023-10-27 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

Apple TV+ is a small but influential player in the streaming wars. And Apple has signaled it wants to grow its streaming content slate at a time when other media companies are contracting. Apple is "always looking" for films that "highlight humanity," according to one of the agency documents. As a side hustle of a massive retail business, Apple TV+ can fly under the radar, insulated from economic pressures that have roiled the entertainment business. (Apple TV+ was the first streamer to win the best picture Oscar, in 2022, for "CODA," which it acquired at the Sundance Film Festival).

Persons: Martin Scorcese's, Reese Witherspoon, Apple, execs, Apple hasn't, Jason Sudeikis, Ted Lasso, Rose Byrne, Seth Rogen, Jon Stewart's, Isaac Asimov's, John Krasinski, Stephen Curry, Ridley Scott's, Napoleon, They're Organizations: Apple, Netflix, Disney, New York Times, Major League Soccer, Major League Baseball, New England Patriots, Sundance Locations: China

☆ The pressure just got stronger for Bob Iger to carve up Disney
▼ + stars: | 2023-10-09 | by ( Madeline Berg | ) www.businessinsider.com time to read: +3 min

This means pressure is on for CEO Bob Iger to turn the company's stock around. AdvertisementAdvertisementThe pressure knob for Bob Iger just got turned a little higher. AdvertisementAdvertisement"We wish the very best to Bob, this management team, and the board," Peltz said on CNBC at the time. Since Disney's stock price peaked for the year in February at about $113 per share, it's fallen more than 25% to about $84 per share. AdvertisementAdvertisementABC and Disney's other linear networks, like FX and The Disney Channel, could be among the first to go.

Persons: Nelson Peltz, Bob Iger, —, Iger's, Peltz, Peltz's, he's, Peltz hasn't, Iger, Dan Ives, Apple hasn't, what's, Peter Csathy Organizations: Disney, ABC, ESPN, Service, Fund Management, Street Journal, CNBC, FX, Sun, Apple, Wedbush Securities

☆ Apple users are slamming the new iPhone 15 Pro, saying it can get so hot they can't even hold it
▼ + stars: | 2023-09-28 | by ( Kylie Kirschner | ) www.businessinsider.com time to read: +4 min

There have been numerous reports saying the new iPhone 15 Pro can encounter overheating issues. The new iPhones released last week, and the iPhone 15 Pro lineup is the first with titanium frames. AdvertisementAdvertisementPeople are talking about how hot the new new titanium iPhone 15 Pro can be — literally. Some iPhone 15 Pro owners have taken to social media sites in the US and China to complain about the issue. Justin Sullivan / Getty ImagesThe iPhone 15 Pro model is notably the first smartphone made by Apple with a titanium enclosure.

Persons: —, There's, It's, Apple hasn't, Max, Apple, Justin Sullivan, Chi Kuo Organizations: Service, Apple, Bloomberg Locations: China

☆ Apple is marketing a feature that makes it easier for users to have their accounts stolen — despite a major WSJ investigation
▼ + stars: | 2023-09-22 | by ( Aaron Mok | ) www.businessinsider.com time to read: +5 min

Apple is marketing a security feature after the WSJ revealed it can be used by iPhone thieves. Thieves have reportedly taken up to $10,000 through iPhones by using the Apple ID reset feature. Earlier this week, Apple made a post on X, previously known as Twitter, that included a short video on how Apple users can change the passwords to their Apple ID accounts. "I absolutely cannot believe Apple is marketing this as a feature," Stern wrote on X. "Of course, I tried it like minute three, I tried it," Ayas told Insider in reference to the "Find my iPhone" feature.

Persons: they've, Apple, Joanna Stern —, Stern, John Gruber, Gruber, wasn't, Ayas, — Apple, Apple hasn't, Gruber didn't Organizations: Apple, Service, Street, Mac, . Apple Locations: Wall, Silicon, New York

☆ Apple buying Disney would be a storybook ending for Iger, but fairy tales aren't real
▼ + stars: | 2023-09-06 | by ( Alex Sherman | ) www.cnbc.com time to read: +3 min

Apple co-founder Steve Jobs became Disney's largest individual shareholder after Disney acquired Pixar, then owned by Jobs, for $7.4 billion in 2006. The deal also gave Jobs a seat on the Disney board and fostered a close friendship between Jobs and Disney Chief Executive Bob Iger. Buying Disney wouldn't even classify as a bet-the-company transaction. Still, it's not clear Apple would have any interest in buying Disney. On one hand, buying Disney would supercharge those fledging businesses, which could help with Apple device churn while growing subscription revenue.

Persons: Will Apple, Steve Jobs, Bob Iger, Iger, Jobs, Steve, Steve —, it's, Apple, Apple hasn't, that's Organizations: Apple, Beats Electronics, Microsoft, Activision Blizzard, Disney, Pixar, Jobs, ESPN

☆ The iPhone 15 could get one of the biggest upgrades in years: A new charging port
▼ + stars: | 2023-08-18 | by ( Kif Leswing | ) www.cnbc.com time to read: +2 min

The next iPhones, expected in September as usual, could have a feature that no iPhone has ever had: a generic charging port. The new iPhone models could include a USB Type-C charger port on the phone's bottom, according to analysts and media reports. That's the same charging port that's used on nearly every laptop sold in the past few years, as well as Android phones, iPads, and other gadgets from Kindles to headphones to drones and heated blankets. The USB-C connector would replace Apple's proprietary port, the Lightning port, which has graced the bottom of every iPhone model released since 2012. While Apple hasn't confirmed that its new iPhones will feature a USB-C charging port, and didn't respond to a request for comment, the change is bound to happen.

Persons: Greg Joswiak, Apple's, Apple hasn't, Apple Organizations: Apple, Union, European Union, EU Locations: EU

☆ How Apple Lost the K-12 Education Market to Google
▼ + stars: | 2023-08-10 | by ( Michael Gartenberg | ) www.businessinsider.com time to read: +6 min

Apple used to dominate the K-12 education market. By missing out on schools, Apple is losing the unique relationship it once had with students. Long before music was part of Apple's DNA and computers were something to be strapped to one's face, Apple was the de facto standard for K-12 education. Apple's share of the K-12 education market has been under siege since at least 2017 , when low-cost Windows computers and Google's affordable Chromebooks with its suite of cloud apps, began to own the market. But maybe more importantly, Google now owns the K-12 market because Apple appears to be uninterested in it.

Persons: Apple, Michael Gartenberg, Long, Mavis Beacon, Chromebooks, Apple hasn't, They're Organizations: Apple, Morning, Los, Google, Schools, Mac Locations: Los Angeles, Cupertino

☆ Apple earnings live updates: What analysts are looking for
▼ + stars: | 2023-08-03 | by ( Kif Leswing | ) www.cnbc.com time to read: +1 min

Apple CEO Tim Cook next to Apple's new Vision Pro virtual reality headset, at the Apple Park campus in Cupertino, California, on June 5, 2023. Apple is expected to post its third consecutive year-over-year decline in quarterly revenue on Thursday, according to FactSet estimates, with declines in iPhone, iPad, Wearables, and Mac sales. However, analysts expect the company's profitable services division to be a bright spot, rising over 5%. Apple's forward-looking statements may also give clues to the state of global economies, and whether consumer confidence is wavering or strengthening. Apple hasn't provided guidance since 2020, citing uncertainty, but it gives investors data points that they can use to figure out whether Apple expects sales to rise or fall.

Persons: Tim Cook, Apple hasn't Organizations: Apple Locations: Cupertino , California

☆ 'Android's now better than iOS': Instagram boss weighs in on the age-old iPhone vs. Android debate
▼ + stars: | 2023-07-23 | by ( Haley Tenore | ) www.businessinsider.com time to read: +3 min

Instagram head Adam Mosseri said Android is "now better" than Apple's iOS. Which is better: iPhone or Android? "Android's now better than iOS," Mosseri posted on Threads in response to tech YouTuber Marques Brownlee, aka MKBHD, who had asked for people's best tech "hot takes." Both Android and iOS have been wildly successful since the introduction of the first iPhone and Android phones in 2007 and 2008, respectively. As of the first quarter of 2023, Apple held an estimated 52% US smartphone market share, with Samsung the runner-up with a 27% share.

Persons: Adam Mosseri, YouTuber Marques Brownlee, reigniting, Android's, Mosseri, Marques Brownlee, MKBHD, Apple hasn't, Sameer Samat Organizations: Android, Morning, iOS, Meta, Counterpoint Research, Apple, Samsung, Google, Lenovo

☆ A top analyst says Apple is on the cusp of another monster sales cycle for the iPhone 15 and its share price will break more records
▼ + stars: | 2023-06-11 | by ( Julie Bort | ) www.businessinsider.com time to read: +3 min

He's predicting massive sales of the iPhone 15 and growth of its services business. Despite some signs that iPhone sales have slowed, one Apple watcher is predicting iPhone sales to bounce back and push its stock into stratospheric levels. Right now, prices for Apple's state-of-the-art iPhone 14 Pro Max start at $1099, with the slightly smaller pro starting at $999. Services is on pace to approach $100 billion compared to the roughly $50 billion it had in 2020, he writes in his note. But he's not wrong that Services growth is astounding and that it is quickly marching toward $100 billion.

Persons: Dan Ives, haven't, Ives, he's, Max Organizations: Morning, Apple, Wall, Services

☆ Meta's heated rivalry with Apple enters new phase as the tech giants go after headsets
▼ + stars: | 2023-06-05 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +5 min

But Apple hasn't said exactly when Vision Pro will be available, only that it will be early next year. Meta's Quest family of VR headsets include the $300 Quest 2 and the $500 Quest 3, which will be available in the fall. Apple CEO Tim Cook stands next to the new Apple Vision Pro headset is displayed during the Apple Worldwide Developers Conference on June 05, 2023 in Cupertino, California. And Apple has its own new operating system for the Vision Pro that it's calling visionOS. "And we believe Apple Vision Pro is a revolutionary platform that can make our vision a reality."

Persons: Mark Zuckerberg, Michael Nagle, Leo Gebbie, hasn't, Zuckerberg, Cook, Tim Cook, Justin Sullivan, visionOS, Bob Iger, Iger, We're, Meta didn't Organizations: Meta, Inc, Bloomberg, Getty, CCS, Vision, VR, Labs, Apple, Google, Facebook, Apple Vision, Apple Worldwide, Disney Locations: New York, Covid, Cupertino , California, Brussels

☆ Google's AI chatbot Bard is still being rushed
▼ + stars: | 2023-04-05 | by ( Asia Martin | ) www.businessinsider.com time to read: +4 min

Google contractors say they don't have enough time to verify correct answers from the company's AI chatbot, Bard. Bard got off to a less-than-ideal start when it gave an incorrect answer at Google's launch event earlier this year. Some of the contractors told Insider that they just aren't given enough time to corroborate and check the most accurate answer. Google CEO said he sticks to fun and creative questions with Google's Bard AI chatbot. Sundar Pichai, Google's CEO, told The New York Times that he learned through trial and error what type of questions to ask Google's AI chatbot.

☆ CHARTS: We analyzed revenue per employee to show why Amazon, Meta, and others are axing workers with brutality and speed
▼ + stars: | 2023-03-31 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +6 min

One productivity metric to watch is revenue per employee, which has fallen at some big firms. Tech companies swelled in the years up to and during the pandemic, but more manpower didn't necessarily mean more money. The chart shows Amazon, Meta, and Twitter in particular hired heavily from 2018, but also experienced declining revenue per employee. Size isn't everythingAnd how have tech companies fared against each other? The chart above shows Amazon and Salesforce are producing roughly the same revenue per employee as Twitter despite having tens of thousands more workers: each employee at Amazon generated $333,550 in revenue last year, while Salesforce employees generated $394,911.

☆ Tech CEOs increasingly admire Elon Musk's harsh leadership style, but they should actually take cues from Apple's Tim Cook
▼ + stars: | 2023-03-27 | by ( Paayal Zaveri | ) www.businessinsider.com time to read: +5 min

Experts attribute Apple's stability and durability to CEO Tim Cook's steady leadership style. Experts say that Cook, not Twitter's Elon Musk, is the model that more execs should look to. The lessons CEOs can learn from Cook, the experts say, are that quiet prudence and practicality are always in fashion. By contrast, Cook's approach at Apple is often described as "pragmatic" and "risk averse," as Insider previously reported. Some workers see it as a precursor to the company firing employees who don't meet the requirement, Bloomberg reported.

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