CEO Tim Cook 'excited' as Apple (AAPL) opens its first store in India

Apple (AAPL) to benefit from AI search wars - BofA

April 18, 2023 6:26 AM EDT

Alphabet (NASDAQ: GOOGL) shares fell 2.7% yesterday on the New York Times report that the worlds largest smartphone producer Samsung is considering replacing the companys search engine with Microsofts (NASDAQ: MSFT) Bing.

Barclays analyst Ross Sandler forecasts that Samsung represents about $20 billion of Googles gross revenue and $7.3B of operating income (9% of '23 total OI).

For BofA analyst Wamsi Mohan, Apple (NASDAQ:... More

UK regulator probes Amazon's planned purchase of iRobot

April 18, 2023 6:24 AM EDT

(Reuters) -Britain's competition regulator said on Tuesday it has launched a "Phase 1" probe into Amazon.com Inc's planned $1.7 billion acquisition of iRobot Corp, which makes the Roomba vacuum cleaner.

The probe launch by the UK watchdog comes at a time antitrust regulators, including those in the U.S. and the European... More

Apple (AAPL) to benefit from Google - Bing search war - BofA

April 18, 2023 5:40 AM EDT

BofA Securities analyst Wamsi Mohan reiterated a Neutral rating and $168.00 price target on Apple (NASDAQ: AAPL).

"We estimate that Google pays Apple ~$20bn for being the default search engine across iOS devices. The rise of Microsoft as a potential alternative to Google... More

CFRA Reiterates Buy Rating on Apple (AAPL)

April 18, 2023 4:58 AM EDT

CFRA analyst Angelo Zino reiterated a Buy rating on Apple (NASDAQ: AAPL).

"We view India as a similar opportunity to China 15 years ago and see a greater retail footprint along with the natural wealth effect over time supporting higher revenue (volume/ASPs) in... More

Apple opens first India store as fans show off vintage devices, take selfies

April 18, 2023 12:52 AM EDT

By M. Sriram and Tanvi Mehta

MUMBAI (Reuters) -About 300 people queued at Apple's store in Mumbai on Tuesday, as fans took selfies with Chief Executive Tim Cook, who inaugurated the first retail store run by the tech giant in India, underscoring the importance of its market.

"The energy, creativity, and passion in Mumbai is incredible!" Cook, who is making his first visit to India in seven years, said on Twitter. "We are so excited to open ... our first store in India."

People flocked to the store from across India, hoping to be among the first... More

Apple offers high-yield savings to card customers as deposit competition heats up

April 17, 2023 5:19 PM EDT

NEW YORK (Reuters) - Apple Inc is seeking to attract U.S. savers with a new high-yield deposit account it announced on Monday with partner Goldman Sachs Group Inc amid increased competition among financial institutions for consumer dollars.

Apple said users of its Apple Card can earn 4.15% on savings... More

Stock market today: Dow rides banks to close higher, shrugging off Google wobble

April 17, 2023 4:41 PM EDT

By Yasin Ebrahim

Investing.com -- The Dow closed higher Monday, shrugging off a Google-led wobble in tech as banks racked up gains amid mostly upbeat quarterly earnings. 

The Dow Jones Industrial Average gained 0.3%, or 100 points, the Nasdaq gained 0.3%, and the S&P 500 rose 0.3%.

Financials, meanwhile, gained more than 1% as banking stocks continued to roll out mostly upbeat quarterly results. 

Charles Schwab (NYSE: SCHW) rose almost 4% after reporting mixed... More

Evercore ISI on Apple (AAPL): 'Net/Net Apple should have more leverage over Google in future negotiations'

April 17, 2023 3:57 PM EDT

Evercore ISI analyst Amit Daryanani reiterated an Outperform rating and $190.00 price target on Apple (NASDAQ: AAPL)

The analyst comments "ALL YOU NEED TO KNOW: The NYT reported over the weekend that Samsung is considering replacing Google with Bing as the default search engine on their phones. The report is somewhat surprising given Samsung phones run on the Android operating system created by Google, but we think this event should... More

S&P 500 slips on Google-led wobble in tech, rising yields

April 17, 2023 2:52 PM EDT

By Yasin Ebrahim

Investing.com -- The S&P 500 slipped Monday, as Google led a wobble in tech just as Treasury yields continued to climb on bets for further Federal Reserve hikes, while banks continued to roll out quarterly earnings. 

The S&P 500 fell 0.3%, the Dow Jones Industrial Average fell 0.2%, or 52 points, and the Nasdaq fell 0.4%.

Alphabet (NASDAQ: GOOGL) fell more than 3% on reports that Samsung (KS:005930) is mulling ditching Googles search for Microsoft's (NASDAQ: MSFT) Bing as the default search engine... More

Roth/MKM on Alphabet (GOOGL): 'We estimate Google pays approx. $28-31 to distributors in Traffic Acquisition Costs per year with Apple (AAPL)'

April 17, 2023 2:07 PM EDT

Roth/MKM analyst Rohit Kulkarni reiterated a Buy rating and $126.00 price target on Alphabet (NASDAQ: GOOGL).

The analyst comments "We estimate Google pays approx. $28-31 to distributors in Traffic Acquisition Costs per year with Apple (AAPL, NC) accounting for >$20bn per year, and Samsung likely... More

Apple's (AAPL) move in India could be a 'strategic poker move,' claims Wedbush analyst

April 17, 2023 8:22 AM EDT

Apple (NASDAQ: AAPL) could ramp annual revenue to $20 billion by 2025 in India, according to Wedbush analyst Daniel Ives who has an Outperform rating and $205 price target on the stock.

"This week marks a significant strategic move for Cupertino as Cook will cut the red ribbon on the first India retail stores this week in Mumbai and New Delhi," Ives explained.

He... More

Apple CEO Cook to meet Indian PM Modi amid expansion - sources

April 17, 2023 7:35 AM EDT

By Aditya Kalra and Munsif Vengattil

NEW DELHI (Reuters) - Apple Chief Executive Tim Cook will meet India's Prime Minister Narendra Modi and its deputy IT minister as part of his visit to inaugurate the iPhone maker's first retail store in the country this week, people familiar with the plans said.

The visit by Cook to open the first official company-owned outlets in Mumbai and New Delhi this week underscores Apple's growing ambitions for India, where despite having just a 3% market share the company has been expanding iPhone... More

Apple (AAPL) could ramp annual revenue to $20 billion by 2025 in India - Wedbush

April 17, 2023 7:24 AM EDT

Wedbush analyst Daniel Ives reiterated an Outperform rating and $205.00 price target on Apple (NASDAQ: AAPL).

"For years Apple has tangentially went after the India market with some success as India revenue is only roughly $6 billion (less than 2% of global revenues) today with... More

Alphabet (GOOG) falls as Samsung mulls switching to Bing

April 17, 2023 6:19 AM EDT

Samsung-built smartphones may soon have a new default search engine - the company is considering replacing Alphabet's (NASDAQ: GOOG) Google with Microsoft's (NASDAQ: MSFT) Bing, according to a Sunday report by the NYT.

The South Korean... More

Apple's India Sales Said To Jump To Almost $6B In Past Year - Bloomberg

April 17, 2023 5:28 AM EDT

Apple's India Sales Said To Jump To Almost $6B In Past Year - Bloomberg

... More

GM Ditches Apple CarPlay in New EV Models - WSJ

April 17, 2023 5:25 AM EDT

GM Ditches Apple CarPlay in New EV Models - WSJ

Strategy on multimedia displays aligns with those of Tesla and other EV makers.Will use Googles underlying technology for its own-brand touch-screen interfaces.... More

Apple's India sales hit $6 billion in year through March- Bloomberg News

April 17, 2023 2:45 AM EDT

(Reuters) -Apple Inc's India sales grew by nearly 50% in the year through March, Bloomberg News reported on Monday.

Revenue in India almost touched $6 billion, as compared to $4.1 billion in the year through March 2022, the report added, citing a person familiar with the matter.

Apple didn't immediately... More

S&P 500 slumps as Fed rate hike fears overshadow earnings-led rally in banks

April 14, 2023 2:45 PM EDT

By Yasin Ebrahim

Investing.com -- The S&P 500 slumped Friday, as a rally in bank stocks on strong quarterly earnings was offset by fresh fears of Federal Reserve rate hikes just as data flagged signs of a weaker consumer.

The S&P 500 fell 0.7%, the Dow Jones Industrial Average added 0.8%, or 261 points, and the Nasdaq fell 0.9%.

Fed Governor Christopher Waller said further rate hikes were still needed to curb inflation, adding that investors shouldnt expect rates to fall any time soon.

The hawkish remarks from Waller pushed the United States 2-Year... More

Apple (AAPL) Is Making Headway On New Macs Following Sales Slump - Bloomberg

April 14, 2023 2:35 PM EDT

(Updated - April 14, 2023 2:39 PM EDT)

Apple Is Making Headway On New Macs Following Sales Slump - Bloomberg

Is Testing Mac Laptop With a Larger, Higher-Res Displayis Testing New Macs with Processors on Par with M2 ChipsDeveloper Logs Show Macs Are Being Tested for App Compatibility... More