Since Apple started reporting unit sales for its products, analysts have been glued to the numbers as a direct measure of Apple Inc.'s health. Now Apple is doing away with that reporting, and no one is happy. Tripp Mickle reports: Apple Inc. AAPL -2.84% reported its fourth consecutive quarter of record revenue and profit, as the combination of higher iPhone prices and strong app-store sales propelled the technology giant to its best year ever. But the world’s most valuable company offered guidance for the current period that disappointed many investors, and said it would stop reporting … [Read more...]
Tim Cook Slams Rivals’ Surveillance of Consumers
In Brussels on Wednesday, Tim Cook, CEO of Apple Inc., tore into other tech companies for performing what he called "surveillance," on users by collecting their data and breaching their privacy. Bloomberg's Natalia Drozdiak and Stephanie Bodoni report: In some of his harshest rebukes of his competitors yet, Cook sought to distinguish the iPhone maker from Silicon Valley competitors, like Alphabet Inc.’s Google and Facebook, both under scrutiny for recent user data breaches. “We shouldn’t sugarcoat the consequences,” he said Wednesday. “This is surveillance and these stockpiles of … [Read more...]
Walmart Adopts IBM’s Blockchain for all U.S. Suppliers
With Walmart adopting IBM's blockchain technology for all its U.S. suppliers, Big Blue has found a path toward monetizing one of its most promising technologies. The blockchain is good for much more than just crypto-currencies, its potential in logistics is vast. At Bloomberg, Olga Kharif reports: After several years of tests, Walmart Inc. is ready to mandate use of blockchain technology by a swath of its U.S. suppliers, marking one of its biggest commercial uses. Starting in September 2019, Walmart and its Sam’s Club division will require suppliers of fresh, leafy greens to implement … [Read more...]
Tech Loses its Biggest Stars
Changes to indices from S&P and MSCI will move some of tech's biggest companies into other classification categories, drastically altering the look of some tech fund benchmarks. Bloomberg's Carolina Wilson and Sarah Ponczek report: (Bloomberg) -- ETF investors have ridden tech stocks to outsized returns during the record bull market in U.S. equities. But a major shakeup coming next week to the indexes some of the biggest funds track could leave fans cheering for a team they barely recognize. S&P Global Ratings and MSCI Inc., two of the world’s biggest index providers, are … [Read more...]
Augmentation and Replacement: The Future of Robot Workers
Robots are coming to the workplace in ways they have never done before. Automating backroom tasks could eliminate many jobs, but will also augment the productivity of others, leading to greater incomes and larger economies. The World Economic Forum recently released its Future of Jobs 2018 report, and Sara Castellanos explains the results here: The Future of Jobs 2018 report, released Monday, predicts that by 2025, more than half of all current workplace tasks will be performed by machines, as opposed to 29% today. But the impact of machines and algorithms on the entire workforce will … [Read more...]
Apple Watch Could Save Lives with New Capability
Apple has built into its new Apple Watch the ability to perform an electrocardiogram, or ECG. Owners who find troubling data from the test could then share it with their doctor. NPR's Avie Schneider reports: Apple unveiled three new iPhones, including two with bigger displays, but perhaps the more dramatic announcement from Cupertino, Calif., on Wednesday was its new Apple Watch, with the new health-related tools. The Apple Watch Series 4 will let users take an electrocardiogram, or ECG, and share it with their doctor. Apple said it's the first ECG product offered over the counter … [Read more...]
Cable Killer: Verizon to Begin 5G Rollout
Verizon is rolling out 5G internet and TV service in October to an initially small number of American cities. 5G is the next major advancement in Internet technology and will compete directly with cable. Verizon has said its internet will give users faster speeds than cable, without the wires. Bloomberg's Scott Moritz reports: Verizon Communications Inc., taking a key step toward rolling out speedier internet and pay-TV service across the U.S., will start offering a fifth-generation package on Oct. 1 in four cities, with signups beginning this week. Would-be customers in those initial … [Read more...]
The Future of Verizon is Providing Internet, Not Filling it With Content
With the coming departure of Verizon's internet point man, Tim Armstrong, and the stated focus of Verizon's new CEO Hans Vestberg on building out the company's 5G network, it looks as though the wireless giant is reining in its online ambitions a bit. Former CEO Lowell McAdam had made providing content to customers' phones a major priority for Verizon, but the strategy pursued by Armstrong led to the purchase of AOL and Yahoo, two elder statesmen of the Internet. With the two companies only generating 5% of internet ad revenue, they couldn't compete with bigger rivals like Google and Facebook. … [Read more...]
One Man’s Stand Against “Google Marxism”
Take a look back at this piece on what George Gilder calls "Google Marxism." Then go on to read my Gilder inspired series called "Cryptocosm and Life After Google." In The Wall Street Journal's Weekend Interview, Tunku Varadarajan interviews George Gilder, an investment author who made it big during the tech boom, but subsequently lost it all when his subscribers deserted him after the bubble popped. Gilder is concerned about the idea that artificial intelligence will replace humans, a concept he calls "Google Marxism." Varadarajan writes: Mr. Gilder is one of a dwindling breed of polymath … [Read more...]
The Amazon ❤ Affair
There is a deep love for Amazon on Wall Street. An obsession of sorts. Of the 50 analysts who follow Amazon and provide recommendations, 48 rate the stock a buy and 2 call it a hold. Not a single soul on Wall Street is brave enough to tell you to steer clear of the shares. Morgan Stanley (MS) was the latest big bank to publicly profess its love for the internet retailer. Yesterday, MS upgraded its price target on Amazon by a massive 35% to a Street high of $2,500 per share. That upgrade comes on the heels of a July upgrade from MS that brought the price target to $1,850. Has Amazon’s … [Read more...]
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