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Apple $425 Per Share Case 'On The Horizon,' Analyst Says. Apple Inc. (NASDAQ: AAPL) has weathered the economic impact of the novel coronavirus pandemic in a "Jacques Cousteau-like fashion," and the consumer electronics company could become the first to cross $2 trillion in market valuation by the end of 2021, according to Wedbush. Wedbush said in an analyst note on Thursday that Apple is best set to benefit from the growth of 5G standard for cellular networks, alongside a growth in its services business. "[We] believe Cupertino has a unique opportunity to capture this delayed super cycle opportunity with a major 5G cycle on the horizon which will include a host of new smartphone versions/models for iPhone 12," Wedbush noted.

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Apple Offering Covid-19 Testing to Staff Returning to Offices. Temperature checks are required. As the building gradually reopens, some employees are working from the Apple campus only a few days a week. The Apple campus in Cupertino, California, has several open floor work areas where staff members are used to working in close proximity, but the company will need to make changes to that layout in order to bring back the rest of its workforce. Testing is seen as one way to help control the spread of the disease, as is limiting the number of people in spaces and wearing masks. Some Silicon Valley rivals, including Facebook Inc., recently told staff they won’t be offering testing in the near future, though the company has extended remote work through the end of the year, except for those developing critical hardware, which will return sooner.

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Broadcom's revenue forecast disappoints on possible Apple iPhone delay. (Reuters) - Broadcom Inc on Thursday forecast current-quarter revenue with a midpoint slightly below analysts' estimates, in part caused by a delay at a "large North American mobile phone" customer that analysts believe is Apple Inc. "We would normally expect to see a double-digit sequential uplift in revenue from the ramp of next-generation phone at our large North American mobile phone customer," Chief Executive Hock Tan said on a conference call. Tan cited a "major product cycle delay in wireless" without naming the customer, but Broadcom got about a fifth of its revenue from Apple in its most recent fiscal year and in January entered into to two multi-year agreements worth as much as $15 billion in revenue to supply Apple with wireless components.

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Judge in Apple shareholder class action hints lead counsel switch. (Reuters) - U.S. District Judge Yvonne Gonzalez Rogers of Oakland ruled Tuesday that shareholders can proceed with claims that Apple CEO Tim Cook misrepresented declining demand in China for iPhones on a phone call with analysts in November 2018, just days before Apple told its largest manufacturers to slow production. As my Reuters colleague Jon Stempel reported this morning, the judge said it was “simply implausible” that Cook was unaware of the drop in demand, given the timing of the production slowdown. You’re probably thinking it’s odd for a second shareholders' firm to submit a brief opposing a defendant’s motion to dismiss a securities fraud class action. But here’s something even more peculiar: It looks like Judge Rogers is on the verge of replacing Labaton and its client with Robbins Geller and the Norfolk fund as leaders of this case. Yep: Robbins Geller appears, in the middle of the case, to be on the verge of assuming control of a class action in which investors allege tens of billions of dollars in losses.

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Amazon knocks $300 off the price of Apple's 16-inch MacBook Pro. Amazon can’t resist price cuts for the 16-inch MacBook Pro, apparently. You’re getting the base version with a six-core Intel Core i7 processor, 16GB of RAM, a 512GB SSD and Radeon Pro 5300M graphics, but that’s more than enough unless you’re handling very intensive tasks. And unlike the last time, it’s in stock — you don’t have to wait if you’re in dire need of a work-from-home machine. Buy 16-inch MacBook Pro on Amazon - $2,100. While the 16-inch MacBook Pro is deep into its lifecycle at this point, it’s still a compelling system if you’re looking for a speedy yet reasonably sleek laptop.

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Morgan Stanley Bullish On Rising App Store Revenue, Raises Apple Price Target. Katy Huberty maintained an Overweight rating on Apple and lifted the price target from $326 to $340. (See her track record here.). Since the start of the second calendar quarter, App Store net revenue is tracking higher by 35% year-over-year, and this is "meaningfully" higher than expectations for 18% growth, the analyst said. Even if the pace of growth slows down in June, total App Store sales growth could come in at 32% for the quarter, which translates to more than $500 million of Services revenue upside versus expectations, she said. Consumers are showing high levels of engagement with apps as part of a "new normal," and this trend will likely remain for the near-to-medium-term, Huberty said.

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(Reuters) - A federal judge said Apple Inc <AAPL.O> must face part of a lawsuit claiming it fraudulently concealed falling demand for iPhones, especially in China, leading to tens of billions of dollars in shareholder losses. While dismissing most claims, U.S. District Judge Yvonne Gonzalez Rogers ruled late Tuesday that shareholders can sue over Chief Executive Tim Cook's comments touting strong iPhone demand on a Nov. 1, 2018 analyst call, only a few days before Apple told its largest manufacturers to curb production. "Absent some natural disaster or other intervening reason, it is simply implausible that Cook would not have known that iPhone demand in China was falling mere days before cutting production lines," Rogers wrote. The Oakland, California-based judge also said a decision by Apple to stop reporting iPhone unit sales "plausibly suggests that defendants expected unit sales to decline." The complaint, led by the Employees' Retirement System of the State of Rhode Island, came after Cook on Jan. 2, 2019 unexpectedly reduced Apple's quarterly revenue forecast by up to $9 billion (£7.15 billion), in part because of U.S.-China trade tensions.

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The New York-based company provides video-on-demand fitness services through the app, in addition to selling at-home fitness equipment. Peloton has seen a surge in demand both for its equipment and app during the novel coronavirus (COVID-19) pandemic, as outdoor activities, including gymnasiums, became inaccessible. The fitness app was already available for other Apple platforms, including iPads, iPhones, and Apple Watch. Peloton temporarily offered a 90-day free trial in March, instead of the usual 30-day trial, in an effort to bring more customers on board during the coronavirus-related lockdowns.

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Apple Inc. (NASDAQ: AAPL) has cut prices on the latest iPhone models in China. Apple’s channel partners Alibaba Group Holding Ltd (NYSE: BABA) owned e-commerce website Tmall, and JD.com Inc. (NASDAQ: JD), an official reseller, are offering steep discounts on iPhones in China during the 6.18 shopping festival. The iPhone SE is being sold for $435 instead of $463. As of Monday, price cuts are even steeper on JD.com, with the iPhone 11 Pro Max selling at $1,052, a 21% discount on the full price. The 6.18 shopping festival, which lasts several days, begins on June 18, and this is only the second time Apple is taking part in it, reported CNBC.

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Apple says several stores will be closed because of safety concerns. Target, CVS, Apple and Walmart all temporarily closed their stores in certain locations because of the protests over the death of George Floyd in Minneapolis last week. Minneapolis-based Target closed or shortened hours at more than 200 of its stores over the weekend, but it says most would reopen by today. Target says employees at stores that are closed will be paid for up to 14 days, including premiums they are earning due to the coronavirus pandemic.

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