Senate investigators: APPLE avoided $44 billion in taxes
Senate investigators accuse Apple of wiring together a complicated system to shield billions of dollars in international profits from both U.S. and foreign tax collectors.
A report released ahead of Apple CEO Tim Cook’s inaugural Capitol Hill appearance Tuesday alleges the tech giant took advantage of numerous U.S. tax loopholes and avoided U.S. taxes on $44 billion in offshore, taxable income between 2009 and [...]
Apple Inc (AAPL) (AAPL). dropped below $400 for the first time since December 2011 after one of its audio-chip suppliers, Cirrus Logic Inc (CRUS)., reported an inventory glut that suggests iPhone sales may fall short of analysts’ expectations.
Apple’s shares declined 5.5 percent to $402.80 at the close in New York, and earlier touched $398.11. Cirrus, which makes sound components for the iPhone and iPad, is an indicator of demand for Apple’s top-selling products, [...]
Oil Is Getting Slammed
Crude oil prices are getting hit again today.
Right now, WTI crude futures are down 2.7%, trading around $86.30 a barrel.
In the past few minutes, for no obvious reason, oil made a significant move lower.
EUR Tumbles On Weidmann Comment Of Possible Rate Cut
European Stocks Plunge Most In Six Months
Worst 4-day run in 10 months in stocks…
Apple falls below $400 a share
SAN FRANCISCO (MarketWatch) — Apple Inc.AAPL -5.33% shares continued to [...]
Eating the Dow for Breakfast
by Adrian Ash
Wednesday, 6 March 2013
How to get past money illusion now that it’s day-break in America once again…
FORGET about the Apple effect. Not including AAPL in its 30 constituents is just one of the Dow Jones Industrial Average’s many quirks.
So too is its ever-changing Dow divisor, a number seemingly picked at random to smooth out the math in the DJIA. But neither of these oddities [...]
Shares of former tech darling Apple (AAPL) tumbled 11% on Thursday in their largest selloff since the 2008 financial crisis as Wall Street worries the iPhone maker’s incredible growth pace may be over.
The steep tumble leaves Apple at fresh 11-month lows and knocked the consumer-electronics giant off its perch as the world’s most valuable company by market capitalization, allowing ExxonMobil (XOM) to retake the top spot.
The bad day for Apple comes [...]
After reporting earnings, Apple’s stock cratered to $457.78, an 11% after hours drop.
When earnings first hit, the stock fell 4.5% on worse than expected results.
The stock really started breaking down during the earnings call when CFO Peter Oppenheimer announced that Apple was changing its guidance method.
In the past, Apple would set comically low guidance, then annihilate it. Oppenheimer pretty much admitted as much, saying Apple was “conservative” in the past with a “single” data point for its [...]
NEW YORK (TheStreet) – Blackstone’s BX Byron Wien has never been one to shy away from predictions. The Vice Chairman of Blackstone Advisory Partners has produced his 2013 list, including predictions on gold, oil, and everyone’s favorite stock,Apple AAPL .
Among some of the more notable macro calls Wien makes are concerns over oil prices, as he believes the price of West Texas Intermediate could plunge on new rules out of Washington. Wien is [...]
Apple fell under $500 in pre-market trading this morning.
It could continue to drop says trader Mark Dow. When a stock loses its momentum, you can throw out the fundamentals, says Dow. Based on a simple technical analysis, he believes it could slide all the way to $425:
While I’m here, let me make a quick, behavioral point on AAPL. AAPL has been THE story stock in the market over the past few years. It [...]
Apple Is Cut To Neutral By Citi Because It Doesn’t Think iPhone 5 Demand Is Great
Apple is getting another price cut from a Wall Street analyst.
But this time, there’s a twist. It’s also getting its rating cut.
Citi’s trio of Apple analysts, Glen Yeung, Walter Pritchard, and Jim Suva, are cutting Apple’s price target to $575, and rating it neutral, down from buy.
Previously, Citi rated Apple as a buy because they believed there would be [...]
It has been 20 days since the last March 2009-like ‘Generational Low’ buying opportunity arrived for AAPL. As the clip below suggests, we can only imagine the crowd of traders waiting to scoop up all these generational low prints (and today’s volume is epic so far) being sold to them by over 200 hedge funds running for cover… WWJTD? A second bite at the Apple…
Today’s market summary from Goldman about sums it up:
“Though a convincing explanation might be hard to come by, equities posted a serious rally today. Tech leads as those stocks hardest hit of late also bounce the most. This means AAPL adds over 7% on the day. Here’s a fun fact: from Friday’s low to today’s high AAPL rallied over 12% – or about 58bn in market cap. A rally always [...]
Forget the “fiscal cliff.” The real panic on Wall Street is over Apple’s stock.
Nearly every mutual and hedge fund has piled into Apple [AAPL 525.62 -11.26 (-2.1%) ]during its spectacular rise over the past few years. Now, these same funds are scrambling for the exits as the stock goes through an equally spectacular decline.
Apple plunged to a six-month low Thursday as funds rushed to take profits on the stock before it’s too late. Shares are now off 25 percent [...]
Samsung Electronics , the world’s largest technology firm by revenue, raised the price of mobile processor supplied to Apple Inc. AAPL -0.25% by 20% recently, Chosun Ilbo reported Monday, citing a person familiar with negotiations between the two tech giants.
“Samsung Electronics recently asked Apple for a significant price raise in (the mobile processor known as) application processor,” the person was quoted as saying in the report. “Apple first disapproved it, [...]
From Market Watch:
“Regarding iPhone 5, Tim Cook says demand is “extremely robust” and the company is in a “significant state of backlog right now.” But he adds that output has improved, calling this the “largest volume ramp in Apple’s history.” He says he is feeling “very confident in our ability to supply quite a few iPhones.” No specific timeline on bringing supply in line with demand.”
First question asks why [...]
Every Investor And CEO Needs To See This Chart Before The Fiscal Cliff Is Hit
Drawing on a similar idea, back in April, John Hussman posted this chart, which compares corporate profitability to the inverse of government and household savings (with a lag). In other words, when government and household savings decline, the red line goes up. A few months later, the blue line (corporate profits) follow nicely.
Bottom line: The deficit is a major [...]
APPLE SHOCK: Apple’s Stock Is Crashing
It seems, just as everyone knew but really did not want to admit, that AAPL is the core (pun intended) of the entire risk-rally. With the re-appearance of the bond-market this morning after their long-weekend, risk-assets everywhere have caught the tech companies’ cold with EURUSD at one-week lows – back under 1.2900, S&P futures tumbling back towards pre-QEternity levels and having wiped out all of last [...]
It seems, just as everyone knew but really did not want to admit, that AAPL is the core (pun intended) of the entire risk-rally. With the re-appearance of the bond-market this morning after their long-weekend, risk-assets everywhere have caught the tech companies’ cold with EURUSD at one-week lows – back under 1.2900, S&P futures tumbling back towards pre-QEternity levels and having wiped out all of last week’s gains, as AAPL [...]
From Zero Hedge:
While the discussions between these two legends varied from Phat Phong nightlife to Dow 30,000, and from China bullishness to AAPL bearishness, it was the conversation about the actions of Bernanke, and more importantly, our political leaders, that summed up perfectly the dreadful reality in which we find ourselves.
The punchline: “It is very dangerous to have ignorant people believing that they know something.”
Rogers is bullish China long-term but [...]
Whether Atwater, California will join the prodigious ranks of Stockton, San Bernardino, and Mammoth Lakes to become the 4th Muni bankruptcy is up for vote on October 3rd (before a $2mm bond payment in November). As Bloomberg notes, the 28,000-strong Merced county town is suffering under the same weight of public employee costs, lost revenue, and a stagnant economy leaving it with a $3.3 million budget deficit. While some put their [...]
Apple (Nasdaq: AAPL), the world’s most valuable technology company, should reap another windfall from selling the iPhone 5, because component costs are only around $167.50, engineers at UBM TechInsights reported.
Apple plans to sell the iPhone 5 starting next Friday at prices ranging from $199 to $399. The Cupertino, Calif.-based company may sell as many as 42 million units of the new smartphone by Dec. 31, estimates UBS analyst Steven Milunovich.
Apple’s main mobile carriers pay [...]
The iPhone 5 is priced at as much as 115,000 rubles ($3,700) in the Russian gray market, topping previous models as Web vendors bet on demand from the country’s wealthy ahead of the redesigned device’s official release.
“Small companies in the gray market are trying to skim the cream off,” said Vladislav Zavyalov, a marketing manager at re:Store Retail Group, an official seller of Apple Inc. (AAPL) gadgets with 94 stores in Russia and Europe. “The Russian yuppies are [...]
SAN FRANCISCO (MarketWatch) — With the press and investors pretty much guessing or getting leaks about nearly every detail in Apple Inc.’s hotly anticipated new iPhone 5 ahead of the event Wednesday, there wasn’t anything left to surprise the Mac faithful.
Apple’s AAPL +1.39% new iPhone now almost matches some of the latest Android phones, with a larger 4-inch screen, which had been widely expected. [...]
Apple Inc. (AAPL) unveiled a new version of the iPhone that boasts a bigger screen, faster chip and access to speedier wireless networks, an overhaul aimed at gaining share in the $219.1 billion smartphone market.
“It’s a beautifully crafted device,” said Chris Jones, an analyst at Canalys. “They enhanced everything about the iPhone.”
Even so, the announcement contained few surprises, “given all the speculation” about the iPhone before today, said Shaw [...]
It happened in September 2011, again in April 2012, and now its starting again. Despite the launch tomorrow of Apple’s iPhone 5 (rumored to include the happy-ending-hand-extension), AAPL has notably underperformed in the last few days. Whether this is to do with the 20%-plus weighting in the NASDAQ-100 or whether, as we show below, the market’s wise-men see AAPL’s P/E ratio approaching that of the exuberant market and capping their attention, we do [...]
One of the world’s most popular and widely-owned stocks could be in big trouble
Is Apple Stock About To Crash?
I’m serious. Does it make you angry to read that? Do you feel like you’re doing something wrong going short America’s favorite stock? Is it a bad thing to wish awful things upon a company who provides us with such glorious technology?
Fortunately as market participants, we don’t have to care about any [...]
FinFisher spyware made by U.K.-based Gamma Group can take control of a range of mobile devices, including Apple Inc. (AAPL)’s iPhone and Research in Motion Ltd. (RIM)’s BlackBerry, an analysis of presumed samples of the software shows.
The program can secretly turn on a device’s microphone, track its location and monitor e-mails, text messages and voice calls, according to the findings, being published today by the University of Toronto Munk School of [...]
As the S&P 500 makes new multi-year highs, the USD dumps, commodities surge, and AAPL just does what it does best; The Fed’s Dennis Lockhart has just ‘subtly’ announced the walking-back of expectations of QE3 happening anytime soon, via Bloomberg:
*LOCKHART SAYS `MONETARY POLICY IS NOT A PANACEA’
*LOCKHART SAYS ECONOMIC DATA HAVE BEEN `FIRM’ IN LAST MONTH
*LOCKHART SAYS HOUSING IS STABILIZING AND `ENCOURAGING’
*LOCKHART: MONTHLY UNEMPLOYMENT RISE SHOULDN’T BE EXAGGERATED
*LOCKHART SEES `MORE [...]