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☆ Apple expected to post third consecutive down quarter, but its forecast is more important
▼ + stars: | 2023-08-01 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

David A. Grogan | CNBCEmerging markets and ChinaSome analysts are eager to see Apple give data points on India sales. India became one of Apple's top five iPhone markets during the quarter, according to analyst estimates. If Apple stockpiled parts and has enough to make what it needs to produce, it could help margins, analysts say. Wall Street likes to see Apple's services business grow regularly and smoothly, because the margins on services are so much higher than when Apple sells hardware. Apple suggested a 5% year-over-year increase in services, and FactSet's estimates more than $20.7 billion in revenue.

Persons: Tim Cook, Valley's Allen, David A, Cook, D.A, Davidson, Tom Forte, Piper Sandler, Harsh Kumar, Kumar, Apple, Sidney Ho, Wells, Aaron Rakers Organizations: Company, Grogan, CNBC, Apple, Google, Apple Pay, Services, Deutsche Bank, Bloomberg Locations: Sun Valley , Idaho, China, India, Hong Kong, Taiwan

☆ India will account for 20% of Apple's user growth over the next five years, Morgan Stanley estimates
▼ + stars: | 2023-07-17 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Cook officially opened Apple Inc.'s first company-owned store in India, betting the iPhone maker's retail outlets will help accelerate sales growth. Photographer: Indranil Aditya/Bloomberg via Getty ImagesIndia will likely be a major driver of Apple's five-year revenue and installed base growth, Morgan Stanley analysts said in a note Monday, citing Apple's investment in manufacturing in India and the country's "economic boom." Morgan Stanley analysts forecast that over the next five years, the country could account for 15% of Apple's revenue growth — in contrast to 2% in the past five years and $6 billion today — and 20% of the company's installed base growth. The revenue growth, which Morgan Stanley forecasts at $40 billion over the next 10 years, would be the "equivalent to Apple ramping an entirely new product category." A survey commissioned by Morgan Stanley suggested Indian consumers have an increased desire and ability to purchase iPhones.

Persons: Tim Cook, Cook, Indranil Aditya, Morgan Stanley, Morgan Organizations: Apple Inc, Apple, Bloomberg, Getty Images Locations: Mumbai, India, Getty Images India, China

☆ Butter, Garlic, Spice, Sweetness, Umami and Starch
▼ + stars: | 2023-07-14 | by ( Sam Sifton | More About Sam Sifton | ) www.nytimes.com time to read: +1 min

Make any recipe more than three or four times and you’re going to change it, either for reasons of taste or expediency, occasionally both. Make that recipe six or seven times and it’s altered forever. That’s where I am with Eric Kim’s recipe for gochujang buttered noodles (above). Make Eric’s dish as he intended, or take it in whatever direction your pantry allows and your taste desires. It’s just butter, garlic, spice, sweetness, umami and starch.

Persons: Eric Kim’s, cheong, Cook Organizations: ssamjang Locations: spiciness

☆ Biden's Federal Reserve Board nominees clear key Senate committee
▼ + stars: | 2023-07-12 | by ( Christina Wilkie | In | ) www.cnbc.com time to read: +2 min

WASHINGTON — The Senate Banking Committee approved President Joe Biden's three nominees to the Federal Reserve Board of Governors on Wednesday, teeing up a vote in the full Senate later this year. The committee unanimously approved Philip Jefferson as Biden's nominee for vice chair of the Federal Reserve. Lisa Cook, who Biden has nominated for a full, 14-year term on the Federal Reserve Board, was approved 13-10 by the panel. The third nominee the committee advanced was Adriana Kugler, whom Biden tapped in May to join the Federal Reserve Board of Governors for the first time. Jefferson would be only the second Black person to hold the vice chair position in the history of the Fed board.

Persons: Philip Jefferson, WASHINGTON —, Joe Biden's, teeing, Jefferson, Lael Brainard, Lisa Cook, Biden, Cook, Adriana Kugler, Kugler, South Dakota Republican Sen, Mike Rounds Organizations: Federal, Capitol, WASHINGTON, Federal Reserve, Governors, Fed, National Economic, Federal Reserve Board, South Dakota Republican, World Bank, World Bank Group, U.S, American, Fed's, of Governors Locations: Washington , U.S

☆ Private jets are descending on a small-town airport as the 'summer camp for billionaires' kicks off
▼ + stars: | 2023-07-11 | by ( Grace Kay | Taylor Rains | ) www.businessinsider.com time to read: +4 min

Private jets are already arriving in Sun Valley, Idaho ahead of the "summer camp for billionaires." Private jets have already begun piling up outside of small town Sun Valley, Idaho as some of the world's most powerful people head to Allen & Co's annual conference — also known as "summer camp for billionaires." Since Tuesday morning, over 40 private jets have flown through the nearby Friedman Memorial Airport ahead of the conference, with at least another 100 scheduled to arrive throughout the day, according to FlightAware. In 2021, the airport was so swamped with private jets that the FAA had to delay incoming flights until traffic dropped. Amazon founder Jeff Bezos and OpenAI CEO Sam Altman are expected to attend the event, according to Bloomberg.

Persons: Bill Gates, Jeff Bezos, Mark Zuckerberg, —, Drew Angerer, Tim Cook —, Louis Vuitton, Bernard Arnault, Chris Pomeroy, he's, Pomeroy, Sam Altman, Bob Iger Organizations: Private, Allen, Friedman, Federal Aviation Administration, FAA, Nike, The New York Times, Staff, Getty, Embraer, Cessna, Bombardier Global, Apple, Sun, Friedman Memorial Airport, New York Times, The Washington Post, ABC, Amazon, Bloomberg, Disney, Variety Locations: Sun Valley , Idaho, Valley , Idaho, Friedman, Sun Valley

☆ What’s a Georgia Summer Without Peaches? Not So Sweet.
▼ + stars: | 2023-07-06 | by ( Kim Severson | More About Kim Severson | ) www.nytimes.com time to read: +1 min

A winter that was a touch warm, followed by a series of hard freezes in March, has devastated the Georgia peach crop. “If we made 2 percent of a crop, I would be surprised,” said Jeff Cook, a University of Georgia cooperative extension coordinator who helped put together an application for federal relief. Last week, the U.S. Department of Agriculture granted it, declaring 18 Georgia counties natural-disaster areas and making an additional 38 counties eligible for federal loans. The cost to the state, including lost jobs and peach sales, Mr. Cook said, could reach $200 million. In a state where eating a peach over the kitchen sink is a birthright, cobbler recipes are passed down through the generations and a baffling number of streets in Atlanta are named Peachtree, a summer without peaches is unfathomable.

Persons: ”, Jeff Cook, Cook Organizations: University of Georgia, U.S . Department of Agriculture Locations: Georgia, Atlanta, Peachtree

☆ Fed nominees stress importance of inflation, job mandates in Senate hearing
▼ + stars: | 2023-06-21 | by ( Michael S. Derby | ) www.reuters.com time to read: +4 min

Since joining the Fed last year, Cook said she's worked with her colleagues to combat high inflation and if she is confirmed for more time at the Fed, Cook said that's how she will continue to work. Cook attended the hearing with Philip Jefferson, a Fed governor nominated to become vice chair, and Adriana Kugler, the U.S. executive director to the World Bank who has been nominated to fill a governor slot. Kugler is prospectively the first-ever Latina to serve on the Fed in its just over a century long history. "I spent my childhood in Colombia, where in the late 1970s and early 80s inflation was very high, hovering about 25%. The three nominees did not offer any guidance about what they think the Fed should do with monetary policy beyond affirming the importance of bringing inflation back to the 2% target.

Persons: Philip Jefferson, Lisa Cook, Adriana Kugler, Read, Cook, she's, Vance, Kugler, Jefferson, Tim Scott, Michael S, Andrea Ricci Organizations: Federal, Federal Reserve, Capitol, U.S, Banking Committee, Fed, World Bank, Republican, South Carolina Republican, Thomson Locations: Washington , U.S, Ohio, Colombia

☆ CEOs do matter when picking stocks. 5 things we look for in a leader and examples from our portfolio
▼ + stars: | 2023-06-21 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +16 min

It's not unusual for a company's stock price to soar — or sink — on news of a CEO shakeup. So, CEOs matter when picking stocks — and at the Club, these are the five things we look for when evaluating the leaders of our holdings. A stock's day-to-day and even month-to-month performance may not truly reflect how well a CEO is leading a company. Trust has value, and the stocks of companies led by reputable CEOs with competent management teams can trade at premium valuations. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Mary Dillon, Locker, J im Cramer, buybacks, Rainer Blair, —, Kevin Johnson, Marc Benioff, Mark Zuckerberg, Zuckerberg, we've, Bruce Broussard, Humana, Jeff Smith's, Craig Jelinek, who's, that's, Jelinek, it'd, Andy Jassy, Tim Cook, he's, Cook, Jim Cramer's, Dan Schulman, Sanjiv Lamba, Linde, Lamba, Eli Lilly, Dave Ricks, Eli Lilly's, Jim, Lilly, Jim Farley, Farley, Elon Musk's Tesla, Ford, LLY, Jim Cramer, Spencer Platt Organizations: Club, McKinsey & Co, Natural Resources, GE Life Sciences, SVB Securities, Starbucks, Humana, Bain & Co, Costco, CNBC, Apple, Amazon's, Football, MGM, Management, PayPal, Linde, LIN, Ford Motor, Wall, EV, Ford, The New York Stock Exchange, Financial, Getty Locations: U.S, Manhattan, New York City

☆ Tim Cook bets his legacy on augmented reality
▼ + stars: | 2023-06-13 | by ( Clare Duffy | ) edition.cnn.com time to read: +11 min

David Paul Morris/Getty Images Cook speaks in front of an image of an iPhone 4S at Apple headquarters in 2011. Yui Mok/PA Images/Getty Images Tim Cook puts on a Boston Red Sox jersey before a baseball game between the Red Sox and the Detroit Tigers in June 2017. Justin Sullivan/Getty Images Tim Cook signs the box of a new iPhone X at an Apple Store in Palo Alto in November 2017. Andrew Harrer/Bloomberg/Getty Images Cook speaks via video conference at a House Judiciary subcommittee hearing on online platforms and market power in July 2020. In pictures: Apple CEO Tim Cook Prev NextFollowers of the company are divided on what the headset could ultimately mean for Cook.

Persons: Tim Cook, Steve Jobs, Cook, It’s, … it’s, ”, Margaret O’Mara, Andrew Burton, Phil Schiller, Jobs, David Paul Morris, Apple, Tom Williams, Marcio Jose Sanchez, Bono, Justin Sullivan, Tony Avelar, Stephen Lam, George Washington University's, Alex Brandon, Stephen Colbert, Jeffrey R, Pope Francis, Shutterstock Cook, Maddie Ziegler, AirPods, Monica Davey, James Corden, Pharrell, Beck Diefenbach, Reuters Cook, Yui Mok, Billie Weiss, Donald Trump, Jonathan, Oprah Winfrey, Win McNamee, Theresa Goh, Edgar Su, Andrew Harrer, Graeme Jennings, Noah Berger, Sajid Moinuddin, India's, Francis Mascarenhas, Brooks Kraft, it’s, Mike Bailey, “, Tim Bajarin, ’, ” Bajarin, Bajarin, they’ll Organizations: New, New York CNN, Apple, Vision, Apple Watch, University of Washington, Washington Post, Getty, Reuters, Alamy, Homeland Security, Governmental, Flint Center, Performing Arts, Cook, CBS, Serviziofotograficoor, Primary School, Boston Red Sox, Red Sox, Detroit Tigers, American Technology, White House, Steve Jobs Theatre, Carnegie Library, Central Public Library, Bloomberg, Singapore, Apple Worldwide, Conference, Epic Games, Apple Inc, FBB Capital Partners, Jobs Locations: New York, Cupertino , California, Cupertino, Palo Alto , California, Palo Alto, San Francisco, Down, London, Washington , DC, Oakland , California, Mumbai

☆ I tried Apple’s new headset. Here’s what it’s like to use
▼ + stars: | 2023-06-06 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +8 min

The headset blends both virtual reality and augmented reality, a technology that overlays virtual images on live video of the real world. The new Apple Vision Pro headset is displayed during the Apple Worldwide Developers Conference on June 05, 2023 in Cupertino, California. Apple CEO Tim Cook kicked off the annual WWDC23 developer conference with the announcement of the new Apple Vision Pro mixed reality headset. During another demo, an Apple employee wearing a Vision Pro headset FaceTimed me from the other side of campus. The Vision Pro has the potential to do all of that in an even more striking way.

Persons: I’d, Alicia Keys, Tim Cook, Apple, Justin Sullivan, “, Alan Dye, else’s, ”, Cook, Bob Iger Organizations: CNN, Apple, Apple Vision, Apple Worldwide, Vision Pro, Vision, Hollywood, Disney, Geographic, Marvel, ESPN, Apple Watch Locations: Cupertino , California

Club holding Apple (AAPL) on Monday unveiled its long-awaited mixed-reality headset, known as Apple Vision Pro, expanding the technology giant's unrivaled hardware-and-software ecosystem into a new realm of computing. Of course, some investors may not be wowed by the Vision Pro. Vision Pro — Apple's first new major piece of hardware since the Apple Watch in 2014 — joins a fledgling field of mixed- and virtual-reality headsets. Bottom line More important than anything announced Monday, we're finally getting a glimpse of Apple's vision for this next-generation computing platform. It's too early to tell where Apple's headset business will be in five or 10 years.

Persons: Morgan Stanley, Steve Jobs, it's, Tim Cook, Cook, Apple, —, Bob Iger, we're, It's, Jim Cramer's, Jim Cramer, Jim, Brittany Hosea, BRITTANY HOSEA Organizations: Apple, Apple Vision, Developers Conference, Vision, Pro, Apple Watch, Meta, PlayStation, Club, Disney, Vision Pro, CNBC, Getty, Afp Locations: Cupertino , California, AFP

☆ Saudi Soccer League Creates Huge Fund to Sign Global Stars
▼ + stars: | 2023-06-02 | by ( Tariq Panja | Ahmed Al Omran | ) www.nytimes.com time to read: +1 min

The people spoke on condition of anonymity because the deals involved were private. League officials also did not respond to requests for comment about the plans. The project comes on the heels of a surprisingly strong performance by Saudi Arabia at last year’s men’s World Cup in Qatar. The team’s run included a stunning victory over the eventual champion, Argentina, which stoked pride on the Saudi streets and in the halls of power in Riyadh. The project’s goal is not so much to make the Saudi league an equal of century-old competitions like England’s Premier League or other top European competitions, but to increase Saudi influence in the sport, and perhaps boost its profile as it bids for the 2030 World Cup.

Persons: Ronaldo, Lionel Messi, Karim Benzema, Garry Cook, Cook Organizations: Saudi, Real Madrid, British, Nike, Manchester City, United Arab Emirates, League, England’s Premier League Locations: Argentina, French, Saudi Arabia, Qatar, Saudi, Riyadh

☆ Elon Musk: CEOs flock to China as risks to trade and investment rise
▼ + stars: | 2023-05-31 | by ( Michelle Toh | ) edition.cnn.com time to read: +8 min

To drum up business, Chinese leaders have urged foreign companies to invest more in the country, promising them an open and level playing field. “The interests of the United States and China are intertwined like conjoined twins,” he was quoted as saying by the foreign ministry. Over time, “there will be less trade” between China and the United States, Dimon predicted. The move was seen as retaliation for restrictions the United States has imposed on Chinese chipmakers. The interests of the United States and China are intertwined like conjoined twins.

Persons: Elon, Laxman, Jamie Dimon, Qin Gang, Tesla, Elon Musk, Musk, ”, Warren Buffett, Dimon’s, Dimon, That’s, Bain, “ who’s, ” Michael Hart, Ben Cavender, Nick Marro, Tim Cook, Cook, Marro, ‘, ” —, Sophie Jeong, Martha Zhou Organizations: Hong Kong CNN, Tesla, Starbucks, JPMorgan, Apple, Samsung, Aramco, Volkswagen, HSBC, Standard Chartered, Foreign, China's Ministry of Foreign Affairs, Reuters, China’s Foreign, Shanghai’s Communist Party, Bloomberg, Group, American Chamber of Commerce, CNN, British, of Commerce, China Market Research Group, US, Micron, Economist Intelligence Unit, “ Companies, China Development Forum Locations: Hong Kong, China, Beijing, United States, Shanghai, Taiwan, Washington, New York, American, Xinjiang

COOK SMART From left: Masienda x Made In Comal, Messermeister Adventure Chef 6” Folding Chef’s Knife, ThermoPop 2A GOOD READ The ThermoPop2 makes it easy to get grilling, deep-frying and more exactly right. ThermoPop 2Some grillers favor the poke test to determine a steak’s doneness. Another finger contortion for those who trust the fate of a great steak to such a move: the L-for-loser sign. An instant-read thermometer is far more accurate. To guarantee cooking to the precise point you want, you can’t do better than the ThermoPop 2.

☆ Opinion | If You’re Reading This, You’re Probably ‘WEIRD’
▼ + stars: | 2023-05-26 | by ( The Ezra Klein Show | ) www.nytimes.com time to read: +83 min

You’re probably very weird, and not just for all the obvious reasons you’re thinking of. Because, obviously, there’s going to be some overlap in the curve here. How you’re going to behave with your professor is quite different than how you’re going to behave with your friends. But it’s really kind of faceless, and you’re not really helping anybody you know. I think things are dynamic, and directions are changing, and that sort of thing.

☆ Apple execs were reportedly skeptical on headset, with one likening it to a 'science project'
▼ + stars: | 2023-05-18 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +3 min

Apple's headset project suffered from CEO Tim Cook's "distant" approach and lacked the confidence of key company executives at times, Bloomberg reported Thursday. Cook isn't alone in keeping his distance, Bloomberg reported. Top executives including Apple software chief Craig Federighi and hardware executive Johny Srouji have both shown concern about the project, Bloomberg reported. Federighi seemed "wary" and kept his distance, Bloomberg reported citing people familiar, and Srouji compared the headset effort to a "science project." Apple made the decision to sell the headset product at cost as opposed to at a loss, as it originally planned to do, Bloomberg reported.

☆ Fed Governor Philip Jefferson named as new vice chair to succeed Lael Brainard
▼ + stars: | 2023-05-12 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

Federal Reserve Governor Philip Jefferson will be nominated by President Joe Biden to be vice chairman of the central bank's board, the White House announced Friday. As vice chair, he takes a position last occupied by Lael Brainard, who is now Biden's director of the National Economic Council. Before coming to the Fed, Jefferson was a professor of economics as well as vice president for academic affairs and dean of faculty at Davidson College. The nomination was not unexpected; multiple media outlets had reported that Jefferson was Biden's likely choice as vice chair. If confirmed, Jefferson would be the second Black person to hold the vice chair position.

☆ How to talk about mental health across generations
▼ + stars: | 2023-05-05 | by ( Julia Chan | ) edition.cnn.com time to read: +9 min

We are born to connect, so if we don’t do that, that’s probably the biggest hit on your mental health. Gen Z is moving the needle when it comes to bringing mental health up everywhere, like language, workplace, to their bosses. There’s a little bit more wiggle room to talk about mental health. What you can do in each generation is match mental health resources. We are going to talk about mental health, damn it!” The goal is for you to connect with your family member and understand what makes them tick.

☆ Apple beats revenue, profit estimate on iPhone sales growth
▼ + stars: | 2023-05-04 | by ( Stephen Nellis | ) www.reuters.com time to read: +4 min

Profit was flat at $1.52 per share, compared with estimates of a 5.7% fall to $1.43 per share, according to Refinitiv data. IPhone sales rose 1.5% to $51.33 billion, compared with analyst expectations of a 3.3% decline to $48.9 billion, according to Refinitiv. Mac sales fell more than 30% to $7.17 billion compared with analyst estimates of a 25% decline to $7.8 billion, according to Refinitiv. Apple's sales fared only slightly better than PC unit shipments in the market, which fell 33% in the calendar first quarter, according to Canalys data. Both were roughly the same as the 23 cents-per-share dividend and previous $90 billion share repurchase increase the company announced a year ago.

☆ Vegan food blogger Nisha Vora tried ChatGPT for recipes. She says they're edible — but not exactly great.
▼ + stars: | 2023-04-29 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +6 min

Nisha Vora is a vegan recipe developer and the creator of the popular food blog Rainbow Plant Life. She tested a cauliflower curry recipe written by ChatGPT to evaluate the bot's recipe-writing skills. Vora is the creator of Rainbow Plant Life, a vegan food blog that she updates with new recipes weekly. She also has her own recipe for a vegan curry with cauliflower and tofu that is well-liked by her readers. Chat GPT's 'cauliflower curry' recipe Prompt: I have tomatoes and onions and cauliflower.

☆ Tim Cook is bullish on India being the new China for Apple. These 3 charts show there's a long way to go.
▼ + stars: | 2023-04-24 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +6 min

This first store comes 14 years after Apple first opened in China, and Cook has sometimes compared the two markets. And so I'm very, very bullish and very, very optimistic about India," Cook told investors on an earnings call in 2017. In the same year, Apple only took 6% of the market share in India compared to Android's 94%. Apple has increased iOS device sales over the years to claim 17% market share from rivals, per Counterpoint Research's data. For Cook, India could offer similar tantalizing growth.

☆ Google CEO Sundar Pichai made $226 million last year
▼ + stars: | 2023-04-22 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +3 min

Sundar Pichai, the CEO of Google and Google’s parent company Alphabet, made nearly $226 million in 2022, according to a new filing from Alphabet. It is a big boost for Pichai, who made just over $6 million in 2021 and $7.4 million in 2020. Pichai’s stock boosts come every three years, in 2019 he received a similar package of $281 million. Ballooning CEO compensation has been a controversial topic in recent years. The vast majority of Cook’s 2022 compensation — about 75% — was tied up in company shares, with half dependent on share price performance.

☆ Tim Cook uses a 1-sentence mantra to process criticism—without it, he 'wouldn't be able to function'
▼ + stars: | 2023-04-20 | by ( Ashton Jackson | ) www.cnbc.com time to read: +3 min

When Cook took the helm of the tech giant in August 2011, he faced widespread skepticism that he could effectively fill Steve Jobs' shoes, he recently told GQ. The criticism didn't stop there — Cook has since faced backlash for his pay package, Apple's return to work policy and his idea of innovation. Cook even faced criticism from Jobs himself, according to Walter Isaacson's 2011 biography "Steve Jobs." Cook himself has a net worth of $1.9 billion, according to Forbes — much of that due to Apple's financial success. I think he was a once-in-a-hundred-years kind of individual, an original by any stretch of the imagination," Cook told GQ.

☆ Apple CEO Tim Cook Meets India Prime Minister Modi as Tech Giant Diversifies From China
▼ + stars: | 2023-04-19 | by ( Yang Jie | Rajesh Roy | ) www.wsj.com time to read: 1 min

Photo: Punit Paranjpe/AFP via Getty ImagesApple Inc.’s Chief Executive Tim Cook met with Indian Prime Minister Narendra Modi in New Delhi on Wednesday, visiting the country where the iPhone maker wants to expand both its manufacturing footprint and smartphone sales. Apple is committed to growing and investing across the country, Mr. Cook said in a tweet after the meeting, alongside a picture of the two men shaking hands. Mr. Modi said they had spoken about the “tech-powered transformations taking place in India.”

☆ Apple CEO Tim Cook Meets Prime Minister Modi, as Tech Giant Looks to Expand in India
▼ + stars: | 2023-04-19 | by ( Yang Jie | Rajesh Roy | ) www.wsj.com time to read: 1 min

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