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☆ Apple co-founder Wozniak suffers possible stroke in Mexico -local media
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +2 min

Steve Wozniak, co-founder of Apple, talks to people during a launch event in Cupertino, California, U.S., September 12, 2017. REUTERS/Stephen Lam/File Photo Acquire Licensing RightsMEXICO CITY, Nov 8 (Reuters) - Apple co-founder Steve Wozniak was hospitalized in Mexico City on Wednesday due to a possible stroke, Mexican media outlets reported, but a TMZ report citing sources suggested the illness was potentially a less serious bout of vertigo. Event organizers did not immediately respond to a request for comment. U.S. media outlet TMZ, citing sources with direct knowledge, reported that Wozniak finished his speech but then told his wife he was "feeling strange". Individuals affiliated with Wozniak's website woz.org did not immediately respond to a request for comment.

Persons: Steve Wozniak, Stephen Lam, Wozniak, Steve Jobs, woz.org, Anthony Esposito, Valentine Hilaire, Daniel Trotta, David Alire Garcia, Shri Navaratnam Organizations: Apple, REUTERS, MEXICO CITY, Reuters, TMZ, Apple Computer, Thomson Locations: Cupertino , California, U.S, MEXICO, Mexico City, Mexican, Santa Fe, California

CUPERTINO, Calif. (AP) — Apple has agreed to pay $25 million to settle allegations that it engaged in a pattern of discriminatory hiring practices when filling some of its jobs during 2018 and 2019. Federal regulators said an inquiry that began in 2019 determined that Apple's hiring practices discriminated against U.S. candidates for jobs that were awarded to some immigrant workers seeking to be granted permanent resident status in the country. Apple vehemently denied any wrongdoing in the formal seven-page settlement defended its hiring record in a statement to The Associated Press. Most of the settlement amount — $18.25 million — will be funneled into a fund to compensate victims of Apple's alleged discrimination. The rest of the money covers the fine that Apple is paying for its hiring practices during the timeframe covered in the settlement.

Persons: Apple, “ Apple, Apple's Organizations: Department of Justice, U.S, Apple, Associated Press, DOJ Locations: CUPERTINO, Calif, United States, Cupertino , California

☆ Here's why shares of Apple are ready for their 'next leg up'
▼ + stars: | 2023-11-07 | by ( Morgan Chittum | ) www.cnbc.com time to read: +4 min

"I think Apple is about to have the next leg up," Jim said earlier Tuesday, citing both the headset launch and upbeat data out of China. The U.S. and China comprised the two biggest app store markets for the company, at 58% of total app revenue. Most notably, in September, The Wall Street Journal reported that Beijing had banned government employees from using iPhones and other foreign-branded devices at work — fueling a massive selloff of Apple stock. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Tim Cook, chief executive officer of Apple Inc., holds an iPhone 15 Pro Max during an event at Apple Park campus in Cupertino, California, US, on Tuesday, Sept. 12, 2023.

Persons: Jim Cramer, Jim, Jim Cramer's, Tim Cook, Max, David Paul Morris Organizations: Apple, Bank of America, Street Journal, " Bank of America, Huawei, Big Tech, CNBC, Apple Inc, Bloomberg, Getty Locations: China, U.S, Beijing, India, Cupertino , California

☆ How big should any one stock in your portfolio get? Here's a way to figure it out
▼ + stars: | 2023-11-05 | by ( Zev Fima | ) www.cnbc.com time to read: +4 min

We always recommend an investor's first $10,000 should go to an S & P 500 index fund. So one option for putting all your money to work without making any one stock position too big is to keep adding to your index fund. Or maybe you own five names at 8% each, 15% in cash, and the remaining 45% in an index fund. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Scott L, Jim, Josh Edelson Organizations: Apple, Nvidia, Microsoft, CNBC, Apple's Worldwide, Afp, Getty Locations: Cupertino , California

☆ CNBC Daily Open: A perfect day for markets and a falling Apple
▼ + stars: | 2023-11-03 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

In this article AAPL Follow your favorite stocks CREATE FREE ACCOUNTTim Cook, chief executive officer of Apple Inc., holds an iPhone 15 Pro Max during an event at Apple Park campus in Cupertino, California, US, on Tuesday, Sept. 12, 2023. David Paul Morris | Bloomberg | Getty ImagesThis report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. What you need to know todayThe bottom lineIt was an astounding day for markets, with everything falling into place as perfectly as investors could have hoped for. Labor costs actually fell for a three-month period ending September — compared with an expected increase — while unemployment claims ticked up.

Persons: Tim Cook, Max, David Paul Morris, Stocks, there's, it's Organizations: Apple Inc, Apple, Bloomberg, Getty, CNBC, Treasury, U.S, Labor, Dow Jones, Nasdaq Locations: Cupertino , California, U.S

☆ Asia shares, bonds rally as Powell feeds hopes of end to rate hikes
▼ + stars: | 2023-11-02 | by ( Stella Qiu | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) surged 1.7% to the highest level in one week. Tokyo's Nikkei (.N225) gained 1.4% to cross the 32,000 level for the first time in two weeks. EUROSTOXX 50 futures rose 0.8% early in Asia, while S&P 500 futures added 0.3% and Nasdaq futures increased 0.5%. While Chair Jerome Powell did not rule out another hike, markets judged he was not quite as hawkish as he might have been. Brent crude futures climbed 1.2% to $85.61 a barrel while U.S. West Texas Intermediate futures were at $81.43 a barrel, up 1.2%.

Persons: nonfarm payrolls, Hong, HSI, Jerome Powell, Treasuries, Tiffany Wilding, Seema Shah, Stella Qiu, Edwina Gibbs Organizations: Apple, SYDNEY, Tokyo's Nikkei, Stock, Nasdaq, Fed, Treasury, PIMCO, Global, Asset Management, Bank of Japan, East, Brent, West Texas, Thomson Locations: Cupertino California, Asia, Pacific, Japan, Europe, U.S, 4Q24

Apple shares, which have risen 37% so far this year, dropped 3.4% after-hours, following the forecast. Maestri said Apple expects to have higher iPhone sales for the fiscal first quarter, even though this year's holiday quarter has one fewer week of sales than the year-ago. Cook said the company's new high-end handset models - the iPhone 15 Pro and Pro Max devices - are facing supply constraints. Apple's sales in China fell to $15.08 billion from $15.47 billion in the fourth quarter a year ago. Cook said that after accounting for foreign-exchange rates, Apple's business in China grew year-over-year, driven by iPhone sales and services revenue.

Persons: Tim Cook, Apple, Cook, Luca Maestri, Bob O'Donnell, Davidson, Tom Forte, Aly, Max, Nabila Popal, Lionel Messi, Stephen Nellis, Yuvraj Malik, Sayantani Ghosh, Peter Henderson, Matthew Lewis, Leslie Adler Organizations: Huawei, Apple, TECHnalysis Research, Mac, REUTERS, Huawei Technologies, U.S, Reuters, Pro, Apple Watch, Thomson Locations: China, Cupertino , California, Shanghai, San Francisco, Bengaluru

☆ Apple lacks a clear path to growth this holiday season after four straight quarters of shrinkage
▼ + stars: | 2023-11-02 | by ( Kif Leswing | ) www.cnbc.com time to read: +1 min

Apple CEO Tim Cook looks on during an Apple event at their headquarters in Cupertino, California, September 7, 2022. Apple indicated on Thursday that investors shouldn't expect revenue growth in the December quarter, the busiest and most important time of the year for its business. Still, revenue fell about 1% from a year ago to $89.5 billion, marking a fourth straight quarter of shrinkage. That's the first time Apple has experienced such a stretch since before the iPhone was launched in 2007. Instead, Maestri said revenue for the current quarter will be "similar" to where it was last year, suggesting the company faces some challenges during the all-important holiday season.

Persons: Tim Cook, Luca Maestri, Apple doesn't, Maestri Organizations: Apple Locations: Cupertino , California

☆ Apple now has $162 billion in cash on hand, slightly less than last quarter
▼ + stars: | 2023-11-02 | by ( Ashley Capoot | ) www.cnbc.com time to read: +1 min

Apple now has $162.1 billion in cash on hand, according to the company's fiscal fourth-quarter earnings report released Thursday. The figure is below the company's cash pile from its fiscal third quarter of 2023, when it reported $166.5 billion. Apple had around $166.3 billion in cash during its fiscal second quarter in 2023. The company regularly maintains one of the largest cash piles in the U.S.Analysts expected Apple to post its fourth-consecutive quarter of revenue decline Thursday. The company reported $89.50 billion in revenue and $1.46 in earnings per share for its fiscal fourth quarter.

Persons: Tim Cook, Apple, Kif Leswing Organizations: Apple Inc, Apple, U.S, Wall Locations: Cupertino , California

It’s the first time Apple’s fiscal year revenue has dropped since 2019 when sales fell by 2%. Although Apple's revenue in the latest quarter deceased 1% from last year to $89.5 billion, its profit rose 11% to $22.96 billion, or $1.46 per share. To help juice its revenue, Apple has been raising some of its prices. In a bright spot, Apple's iPhone sales climbed 3% to $43.8 billion — a sign the company's latest models are being well received heading into the holiday shopping season. Apple’s service division also turned in a robust quarter with revenue of $22.31 billion, a 16% increase from last year.

Persons: Tim Cook, Cook, ”, Jesse Cohen, Max, Apple, “ Organizations: Apple, Research, U.S, Huawei, Google Locations: U.S, China, iPhones, Cupertino , California

☆ Apple set to report fourth-quarter earnings after the bell
▼ + stars: | 2023-11-02 | by ( Kif Leswing | ) www.cnbc.com time to read: +1 min

Apple will report fourth-quarter earnings after the bell on Thursday. Analysts expect Apple to report its fourth straight quarter of overall revenue decline, but many hope that finance chief Luca Maestri will signal a return to growth on the earnings call. Here's what Wall Street expects, per LSEG (formerly Refinitiv) consensus estimates:EPS : $1.39 estimated: $1.39 estimated Revenue : $89.28 billion estimated: $89.28 billion estimated iPhone revenue: $43.81 billion estimated$43.81 billion estimated Mac revenue : $8.63 billion estimated: $8.63 billion estimated iPad revenue: $6.07 billion estimated$6.07 billion estimated Other Products revenue: $9.43 billion estimated$9.43 billion estimated Services revenue : $21.35 billion estimated: $21.35 billion estimated Gross margin: 44.5% estimatedThe quarter will include 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 that benefits its Mac and iPad divisions. But Apple warned in August that it expected Mac and iPad revenue to decline by "double-digit" percentages during the quarter.

Persons: Tim Cook, Luca Maestri Organizations: Apple, Huawei Locations: Cupertino , California, China

☆ Apple hints at an AI-focused future and ‘scary fast’ upgrades
▼ + stars: | 2023-11-01 | by ( Samantha Kelly | ) edition.cnn.com time to read: +4 min

The focus of the event, which featured the tagline “scary fast,” was Apple’s new custom-made M3 chips, the M3, M3 Pro and M3 Pro Max. The chips will ship with Apple’s latest MacBook Pro and iMac lineup. “This deep integration is something only Apple can deliver, and we never stop innovating.”At a time companies such as Microsoft, Google and Meta have openly discussed their plans for an AI future, Apple has been less forthcoming. Apple said it shipped about 26 million Macs in 2022, making up 9.1% of the overall market (up from 7.8% the year prior). At the same time, the overall PC market shipped about 292 million computers the same year, down 15% from the year before.

Persons: Tim Cook –, –, they’re, ” Cook, Apple, ”, Dipanjan Chatterjee, Forrester, “, Tim Cook, Chatterjee, David McQueen, ” McQueen, Kieren Jessop Organizations: CNN, Apple, Max, Microsoft, Google, Meta, Lenovo, Dell, HP, IDC Research, Apple Music, ABI Research, Intel, Qualcomm, AMD, NVIDIA, MacBook Locations: Cupertino , California, China

☆ How Apple's thinking about AI spending and deployment differs from Big Tech rivals
▼ + stars: | 2023-11-01 | by ( Bob Woods | ) www.cnbc.com time to read: +9 min

And, of course, we've been doing research across a wide range of AI technologies, including generative AI, for years," he said. The upgraded camera uses machine-learning AI to tell the difference between a person and an animal in the frame. Laura Martin, a tech analyst at Needham, is among those who say Apple is "far behind" its big tech rivals. The early edge in generative AI is paying off for rivals, as was evidenced by Microsoft's recent earnings report. "We believe they are on the cusp of what will be the introduction of an AI App Store over the next year," he said.

Persons: Brendan Burke, That's, Tim Cook, Cook, we've, Siri, Apple, it's, Laura Martin, Martin, I'm, Ives, that's, what's, OpenAI, Google's Bard, Burke, Claude Organizations: Apple, Microsoft, Google, Vision Pro, Amazon Web Services, Bloomberg, Meta, Financial Times Locations: Cupertino, California, Seattle, Paris, Beijing, Anthropic

☆ Here's why investors shouldn’t sell on the typical hate-Apple-trade headlines
▼ + stars: | 2023-10-31 | by ( Morgan Chittum | ) www.cnbc.com time to read: +7 min

Investors should not jump to offload Apple (AAPL) shares because of a handful of cautious reports ahead of this week's quarterly results. Jim Cramer points out that this has been happening since the first iPhone was released in 2007 and even before that. Even in high-conviction stocks like Apple, we do the homework to constantly test our investment thesis against new developments. "It's a classic negative piece on the company that crystalizes the 'hate Apple trade' that's been going on," Cramer wrote in his Top 10 Things to Watch Tuesday. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer, Jim's, that's, Cramer, there's, Apple, China hasn't, Needham, Jim Cramer's, Jim, Tim Cook, Loren Elliott Organizations: Apple, Wall Street, Google, Justice Department, IDC, Street Journal, U.S, MacBook, CNBC Locations: China, India, Cupertino , California

☆ Premarket stocks: It’s a spooky Halloween for markets. Here’s why
▼ + stars: | 2023-10-31 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +10 min

Here’s what’s causing the market fears:High bond yieldsSurging yields have contributed to one of the worst periods for bond market performance in history and pressured equity markets. The company reported quarterly profits of $9.9 billion, also beating estimates. Shares of Meta slid last week after the Facebook parent company reported that advertising revenue had been soft this quarter. Jerominski told CNN that there have been at least 25 store closures. Fraser Engerman, a Walgreens spokesperson, told CNN that just two stores closed on Monday and no more than 12 pharmacists walked out across the entire country.

Persons: Dow, Rob Almeida, ”, Jason Pride, “, don’t, Erik Weisman, Seema Shah, JPMorgan Chase, Jamie Dimon, Wall, Shane Jerominski, Jerominski, Fraser Engerman, Max —, Tim Cook, Apple Organizations: CNN Business, Bell, New York CNN —, Traders, Nasdaq, MFS Investment Management, Federal Reserve, Asset Management, LPL Research, JPMorgan, Big Tech, Meta, Facebook, Reality Labs, Google, CVS, Walgreens, Staff, CNN, Workers, Apple Locations: New York, United States, Israel, Russia, Ukraine, China, Arizona , Washington , Massachusetts, Oregon, Southern California, Chicago, Deerfield, Apple’s Cupertino , California

A new Apple Watch Ultra 2 is displayed during the 'Wonderlust' event at the company's headquarters in Cupertino, California, U.S. September 12, 2023. Masimo's 2021 complaint said the 2020 Apple Watch Series 6, the first model with blood-oxygen monitoring capabilities, infringed its patents. Apple has since shifted some of its Apple Watch production to Vietnam. Irvine, California-based Masimo has accused Apple of stealing its technology and incorporating it into several Apple Watch models. Apple is also facing an Apple Watch import ban in a separate patent dispute with medical technology company AliveCor.

Persons: Loren Elliott, Joe Biden's, Masimo, Joe Kiani, Apple's wearables, AirPods earbuds, Blake Brittain, David Bario, Grant McCool, Bill Berkrot Organizations: Apple Watch, REUTERS, U.S . International Trade Commission, Apple, U.S ., Appeals, Federal Circuit, ITC, Thomson Locations: Cupertino , California, U.S, China, Vietnam, Irvine , California, California, Delaware, Washington

☆ Apple announces Oct. 30 event, new Macs expected
▼ + stars: | 2023-10-24 | by ( Kif Leswing | ) www.cnbc.com time to read: +1 min

Apple sent invites on Tuesday for a launch event that will be streamed on its website on Oct. 30. New Mac laptops are expected, according to reports. Apple's iMac, and some of its MacBook laptops have not been updated yet this year. An event page posted on the Apple website shows a Finder logo animation, which is a Mac app. Apple held a launch event at its campus for new iPhones and Apple Watch models in September.

Persons: Tim Cook, Apple Organizations: Apple, Apple Park, Apple Watch Locations: Cupertino , California

☆ China vice premier pushes for more Apple investment, cooperation
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +1 min

Apple CEO Tim Cook attends the 'Wonderlust' event at the company's headquarters in Cupertino, California, U.S. September 12, 2023. Sales of iPhone 15 models in their first 17 days in China were down 4.5% compared to the iPhone 14, Counterpoint Research said, without providing specific figures. China in September widened curbs on the use of iPhones by state employees, telling staff at some central government agencies to stop using their Apple handsets at work. "China is willing to provide more opportunities for foreign-funded enterprises including Apple to develop in the country," Ding told Cook in a meeting on Thursday, according to Chinese state radio. Cook said Apple was confident in the prospects of Chinese market, and was willing to strengthen cooperation with China in fields including high-end manufacturing and digital economy, the state radio reported.

Persons: Tim Cook, Loren Elliott, Ding Duexiang, Cook, Cook's, Ding, Apple, Ethan Wang, Bernard Orr Organizations: Apple, REUTERS, Rights, U.S, Huawei, Research, Thomson Locations: Cupertino , California, U.S, Rights BEIJING, Beijing, China

☆ Rite Aid is closing nearly 100 stores as part of its bankruptcy. See the list
▼ + stars: | 2023-10-18 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +6 min

New York CNN —Rite Aid, which had filed for Chapter 11 bankruptcy protection, is now preparing to shed almost 100 stores nationwide as part of its restructuring efforts. Over the past six years, Rite Aid has tallied nearly $3 billion in losses. in Costa Mesa, California139 North Grand Ave. in Covina, California20572 Homestead Road in Cupertino, California24829 Del Pradoin Dana Point, California7859 Firestone Blvd. in Yorba Linda, California25906 Newport Road in Menifee, California1600 North Main St. in Meridian, Idaho5808 Ritchie Hwy. in Mill Creek, Washington601 South Grady Way in Renton, Washington2707 Rainier Ave. in South Seattle, Washington– CNN’s David Goldman contributed to this story

Persons: Del, Dana, Glen, Ephraim Ave, Arnold St, Nicholas Ave, Reed, Washington – CNN’s David Goldman Organizations: New, New York CNN — Rite, Real Estate Partners, Rite Aid, Amazon, Walmart, Target, Costco, Aid, Solutions, SEC Alabama, Valley, Firestone, Alvarado St, Fulton, Yorba, Bel Air, Pulaski, Garfield, Main St, Clinton St, Michigan, Whittemore St, Hamilton St, Sunrise, Elmwood, New Carlisle , Ohio Euclid, Gettysburg, Medford, 9th St, Liberty, Eisenhower, Stevenson, 5th St, Reed St, Oxford, 63rd, Brighton, East Central, St, Evergreen, Grady Locations: New York, California, Maryland, Michigan, New Jersey, Ohio, Oregon, Pennsylvania, Washington, Alabama, Idaho, Pike, Monroeville , Alabama, Alhambra , California, Bellevue, Atwater , California, Costa Mesa , California, Covina , California, Cupertino , California, Dana Point , California, Downey , California, Irvine , California, La Mirada , California, Laguna Niguel , California, South Centinela, Los Angeles , California, Alvarado, Monterey , California, St, Ramona , California, Fulton Ave, Sacramento , California, Santa Cruz , California, Yorba Linda , California, Menifee , California, Main St, Meridian , Idaho, Baltimore , Maryland, Bel Air , Maryland, Elkton , Maryland, Glen Burnie , Maryland, Gratiot, Clinton Township , Michigan, Detroit , Michigan, Farmington Hills , Michigan, Fremont , Michigan, Clinton, Grand Ledge , Michigan, Jackson , Michigan, Macomb , Michigan, U.S, Manistee , Michigan, Redford , Michigan, Shelby Township , Michigan, St . Johns , Michigan, Centerville, Sturgis , Michigan, Taylor , Michigan, Wixom , Michigan, Berlin , New Hampshire Grove St, Peterborough , New Hampshire, Browns Mills , New Jersey, Camden , New Jersey, Lumberton , New Jersey, Bridgeton Pike, Mantua , New Jersey, Mullica Hill , New Jersey, Edinburg, Robbinsville , New Jersey, Hamilton, Somerset , New Jersey, Williamstown , New Jersey, Bay Shore , New York, Buffalo , New York, Copiague , New York, East Northport , New York, Floral, , New York, Jamaica , New York, Elmwood Ave, Kenmore , New York, Hempstead, Levittown , New York, Patchogue, Yaphank, Medford , New York, New York , New York, Port Jefferson , New York, Sayville , New York, Smithtown , New York, West Patchogue , New York, New Carlisle , Ohio, Strathmore, East Cleveland , Ohio, Dayton , Ohio, Cleveland , Ohio, Medford , Oregon, Cully, Portland , Oregon, 9th, Chester , Pennsylvania, Coraopolis , Pennsylvania, Erie , Pennsylvania, Greensburg , Pennsylvania, Hanover , Pennsylvania, New Castle , Pennsylvania, New Kensington , Pennsylvania, Pennsburg , Pennsylvania, 5th, Philadelphia , Pennsylvania, Venango St, 63rd St, Pottsville , Pennsylvania, Rochester , Pennsylvania, East Central Ave, Titusville , Pennsylvania, White Haven , Pennsylvania, Bellevue , Washington, Bellingham , Washington, Blaine , Washington, Covington , Washington, Everett , Washington, Lynnwood , Washington, Mill Creek, Renton , Washington, Rainier, South Seattle

☆ China's commerce minister meets with Apple's Tim Cook in Beijing
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: 1 min

Apple CEO Tim Cook gestures at Apple's annual Worldwide Developers Conference at the company's headquarters in Cupertino, California, U.S. June 5, 2023. REUTERS/Loren Elliott/File Photo Acquire Licensing RightsBEIJING, Oct 18 (Reuters) - China's commerce minister Wang Wentao met with Apple's Chief Executive Tim Cook in Beijing on Wednesday, according to a statement by the Chinese commerce ministry. They discussed Apple's development in China and also the Sino-US trade relationship, the statement said. China will firmly promote high-level opening up and continue to expand market access, the ministry statement quoted Wang as saying, adding that China welcomes multinational companies including Apple to achieve win-win development. Reporting by Beijing newsroom; Editing by Alexandra HudsonOur Standards: The Thomson Reuters Trust Principles.

Persons: Tim Cook, Loren Elliott, Wang Wentao, Wang, Alexandra Hudson Organizations: Apple, Developers, REUTERS, Rights, Apple's, Beijing, Alexandra Hudson Our, Thomson Locations: Cupertino , California, U.S, Rights BEIJING, Beijing, China

☆ Top Apple analyst says MacBook demand has fallen 'significantly'
▼ + stars: | 2023-10-18 | by ( Ashley Capoot | ) www.cnbc.com time to read: +1 min

Tim Cook, chief executive officer of Apple Inc., during an event at Apple Park campus in Cupertino, California, US, on Tuesday, Sept. 12, 2023. Top Apple analyst Ming-Chi Kuo said Wednesday that shipments for the company's MacBook computers will decline around 30% year over year, to 17 million units, during 2023. He said demand for the new 15-inch MacBook Air has slipped "significantly" in the wake of the back-to-school shopping period, and that MacBook shipments during Apple's fourth quarter will be lower than they have been in years past. Apple's fourth quarter has historically been important for the company as consumers purchase devices as part of their holiday shopping. He said shipments of the 15-inch MacBook Air are projected to be down more than 20% this year.

Persons: Tim Cook, Ming, Chi Kuo, Apple's, Kuo Organizations: Apple Inc, Apple, Top Apple Locations: Cupertino , California

☆ Rite Aid is planning to close about 150 locations. See if your local store is on the list.
▼ + stars: | 2023-10-17 | by ( Alex Bitter | ) www.businessinsider.com time to read: +9 min

Rite Aid filed plans to close 154 stores on Monday as part of its Chapter 11 bankruptcy. Rite Aid is the smallest of the three major drugstore chains, well behind CVS and Walgreens. Rite Aid was expected to close stores as part of its bankruptcy. Rite Aid told Insider that it considers a variety of factors when deciding to close a store, "including business strategy, lease and rent considerations, local business conditions and viability, and store performance." "We will also strive to transfer associates to other Rite Aid locations where possible," the company said.

Persons: —, Glen, Taylor, Daniel Webster, Merrick, William Penn, Redmond, Lacey Organizations: CVS, Walgreens, Service, Pennsylvania . Rite Aid, Wall Street Journal, Rite Aid, Rite, Crenshaw, Hollywood Way, San, Niguel, Yorba, Santa, Thompson Boulevard, Ventura, Atwater, Overland, Meridian, Main, Bel, Bel Air South, Park, Main Street, Lafayette, Garfield, Garden, Ford, Flint, Farmington, Whittemore Street, New Jersey :, Marshall, Bridgeton Pike, Whiting, Pike, Huntington, Jericho Turnpike, Jeff, North Street, Cesar, Chavez, Pennsylvania, Stevenson, Bethel, Union, Allentown, Fourth Street, Fifth, Washington Lane, Street, Central Avenue, Grady, Everett Locations: California, New York, Pennsylvania, Los Angeles, Rock, Centinela, Downey, Beach, Burbank, Hollywood Way Covina, Puente, Alhambra, Oceanside, San Diego, Yorba Linda, Santa Ana, Thompson, Thompson Boulevard Oxnard, Cupertino, Santa Clara, Cruz, Bellevue, Sacramento, Boulevard Ontario, Irvine, Monterey, Alvarado Street Connecticut, Bethel, Greenwood, Delaware, Newark, Hill, Wilmington, Idaho, Boise, Maryland, Elkton, Pulaski, Baltimore, Glen Burnie, Baltimore Annapolis Boulevard Massachusetts, Webster, Main Street Michigan, Fremont, Greenville, Clinton, Macomb, Sturgis, Centerville, Clinton Township, Gratiot, Shelby Township, Dyke, Jackson, Michigan, Manistee, Garden City, North, Detroit, Farmington Hills, St, Johns, Whittemore Street Lansing, Hampshire, Merrimack, New Jersey, New Jersey : West Milford, Mantua, Bridgeton, Irvington, Somerset, Williamstown, Pike New York, Brooklyn, Shore, Merrick, East Northport, Jericho, Jericho Turnpike Medford, Patchogue, West Patchogue, Kenmore, Rochester, Flushing, Levittown, Ohio, Massillon, East New Carlisle, Dayton, Youngstown, Springfield, North Street Bellefontaine, Oregon, Portland, Kensington, Brighton, Bethel Park, Pittsburgh, Greensburg, Bethlehem, Fourth Street Philadelphia, Venango, Washington, Conshohocken, Hanover, Mechanicsburg, Erie, Abington, York, Johnstown, Ardmore, Lancaster, Pittston, Wyoming, Yardley, Chester, Street Titusville, Central Avenue Virginia, Chesapeake, Pleasant, Seattle, Graham, Renton

☆ Apple CEO Tim Cook makes surprise visit to China as iPhone 15 gets off to a challenging start
▼ + stars: | 2023-10-17 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

Apple CEO Tim Cook holds up a new iPhone 15 Pro during an Apple event on Sept. 12, 2023, in Cupertino, California. Apple CEO Tim Cook cheered on gamers at an event during a surprise visit to China, underscoring the market's importance to the iPhone giant at a time when it faces mounting challenges. Gamers gathered at an Apple store in Chengdu in southwestern China to play "Honor of Kings," a game developed by TiMi Studio, which is owned by Chinese tech giant Tencent . "The action-packed Honor of Kings started here in Chengdu and is now a global phenomenon on the App Store," Cook said in a post on Chinese social media service Weibo. Honor of Kings is one of the biggest mobile games in China and a substantial revenue driver for Apple's App Store in the country.

Persons: Tim Cook, Kings, Cook Organizations: Apple, TiMi, Huawei Locations: Cupertino , California, China, Chengdu, Weibo

☆ Apple's iPhone loses top spot in China to Huawei: Analysts
▼ + stars: | 2023-10-16 | by ( Ashley Capoot | ) www.cnbc.com time to read: +2 min

Apple's iPhone has officially been dethroned from its position as the smartphone market share leader in China, according to a Monday report from Jefferies analysts. But Apple's iPhone has seen a significant, double-digit decline, and its volume growth year over year has been negative since the iPhone 15 launched, according to the analysts. "We believe weak demand in China would eventually lead to lower-than-expected global shipments of iPhone 15 in 2023," the analysts wrote, adding that the trend suggests the iPhone will "lose" to Huawei next year. The analysts noted that resale iPhone 15 devices are all "trading at discounts to official selling prices," which also reflects the weak demand in China. The Morgan Stanley analysts said they will be watching Apple's total revenue, services revenue growth, gross margin and revenue growth in China from its September quarter, but that the December quarter guide "is what will matter most."

Persons: Tim Cook, Morgan Stanley, Apple, Michael Bloom Organizations: Apple, Jefferies, Huawei, Xiaomi Locations: Cupertino , California, China

☆ Google, Amazon, Apple could see antitrust bills put on hold if Jim Jordan is House speaker
▼ + stars: | 2023-10-16 | by ( Brian Schwartz | ) www.cnbc.com time to read: +3 min

"If Jim Jordan becomes Speaker, it is very unlikely that Congress will do anything on big tech in the near future," said Jon Schweppe, a policy director at the conservative American Principles Project. As Jordan's internal campaign gained momentum on Monday, Washington's thousands of lobbyists raced to determine how a Jordan speakership might impact their clients' bottom lines. "Instead, you'll see more performative anger over petty issues, designed to redirect attention away from the things that could actually hold big tech accountable," said the lobbyist. As chairman of the powerful House Judiciary Committee, Jordan has accused tech companies of censoring conservatives on their platforms. For big tech companies, the prospect of bipartisan antitrust legislation passing in Congress would amount to a far more urgent threat to their businesses than a partisan content moderation bill.

Persons: Jim Jordan, Joseph R, Biden, Jr, Tom Williams, Jim Jordan of, Jon Schweppe, Jordan, Meta, he's, Adam Kovacevich, Josh Edelson Organizations: Committee, Cq, Inc, Getty, Apple, CNBC, Republican, Judiciary, Press, Amazon, Google, Biden, of, Worldwide, Conference, AFP Locations: Ohio, Rayburn, Jim Jordan of Ohio, Cupertino , California

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