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Apple stock fell 4.6% as the US-China trade war intensified today. China warned of tariffs on more US goods, followed by Trump's tweeted response.
DOW UPDATE The Dow Jones Industrial Average is seeing a selloff Friday afternoon with shares of Apple Inc. and American Express facing the biggest setback for the price-weighted average. Shares of Apple Inc.
(Bloomberg) -- Semiconductor companies and Apple Inc. turned lower in pre-market trading on Friday, following the latest escalation of tensions between the U.S. and China on trade. Apple fell 1.4% before the bell in an abrupt move lower. The iPhone maker is heavily correlated to trade issues because China is both a major part of its supply chain and a notable market for its products. Among specific stocks, Qualcomm Inc. lost 1.4% in pre-market trading while Nvidia Corp. was off 1.6% and Micron Technology shed 1.7%. For more articles like this, please visit us at bloomberg.com.
Nowadays, it's completely normal to own several different kinds of credit cards. Some offer cash back, while others offer airline miles or even discounts on your favorite brands. For many years, Apple users have been pushing the tech company to release a branded card of their own, and it seems as though they've finally given in. So you might be wondering, "What is the Apple Card?" On Tuesday, Aug. 20, Apple alerted users of its latest and greatest creation, called the Apple Card. In terms of rewards, you receive Daily Cash, which is a percentage of each purchase you make. According to Apple's website, the brand issues three numbers with the card: a virtual card number, which are what you make purchases with online on websites that don't yet accept Apple Pay; a device number, which is locked away in your iPhone's Secure Element once you activate an Apple Card; and a physical card number, which isn't actually printed on the physical card at all. If you do lose your card, you can lock it in the Wallet app, and you can still use the other numbers to make purchases, since they're all independent of one another. When it comes to making a purchase that doesn't use Apple Pay, you can access your virtual card number easily.
Apple is serious about getting rid of Samsung as its main display supplier for the iPhone. The report says that Apple is in advanced talks with China's top display maker BOE Technology Group to provide displays for next year's iPhones. The sector has been propped by Beijing with billions of dollars of state and public funds over the past decade. However, BOE is still vulnerable to a potential clampdown from the USA, possibly restricting supplies of crucial materials from Corning, 3M and Applied Materials, said the report. Apple appears to be on the verge of certifying flexible OLED smartphone displays from BOE Display which will likely make its way into iPhone in the near future. If the deal goes through, BOE could become the biggest supplier of OLED displays for the 2020 iPhone lineup.
Apple believes some of its zealous customers will treasure its new titanium credit card so much that they will spend time polishing its white finish. That's why Apple has posted instructions on how to clean the card properly and warned that some materials might leave blemishes that are difficult to remove. The list of potential hazards includes leather and denim, prompting some people to conclude Apple's credit card is so special that it can't be stored in the wallets and pockets where most other credit cards reside. But the company says it merely wants people to know that the dyes used in some types of leather and denim can leave stains. In reality, Apple's cleaning instructions for the card mirrors the same practice it applies for its iPhone, iPad, Mac computers, earbuds and all other physical products. But while it's common for people to clean those devices, few consumers spend time sprucing up their credits cards.
NEW YORK — Apple tried to make the new Apple-branded credit card attractive, copying the heft and sleekness of higher-end cards like the Chase Sapphire. But cardholders are discovering that with such a design, they'll have to give it special care. Leather wallets and loose change pose danger for new Apple Card, for instance. In fact, Apple says its Apple Card shouldn't come into contact with other credit cards for fear of scratching the titanium card's white finish. The Apple Card is designed primarily for iPhone use, though the company is offering a physical card for use in stores that don't accept mobile payments.
Any long-term investor will tell you that you need to have a solid thesis supporting your choice to buy a company's stock, and you have to stay on top of the new information that constantly pours in, in case it changes your thesis. In the case of Apple (NASDAQ: AAPL), the reason you'd buy this company today is far from the reason you would have bought it 10 years ago, or 39 years ago when it first came public. From the first home Mac computer through the iPod and eventually the iPhone, there is no doubt that the face of consumer electronics has changed for the better thanks to Apple. In my mind, this points toward Apple losing its innovative edge, and giving up market share to the Android platform. While Apple's iPhone segment is struggling, there are some redeeming qualities in how the business is performing. For the same three-month period, Apple reported a 48% increase in sales in its wearables, Home, and accessories segment, along with a 12.6% increase in services sales when compared to last year.
(JPM) (ticker: JPM) said Wednesday it will close its Chase Pay app next year. More broadly, JPMorgan has been scaling back its digital offerings outside of its flagship Chase banking app. In June, the bank closed Finn, a mobile banking app it launched last year to lure younger customers with zero fees and the ability to tag purchases with an emoji.
Apple's new credit card doesn't spell trouble for established networks like Visa but could make Apple's digital wallet a stronger rival to PayPal's Venmo and Square Cash, one analyst says.
