Speculation surfaces re Retina iPad update and Mini pricing
Apple's 9.7-inch Retina iPad may get refreshed, according to a report.And a separate report offers some speculation about iPad Mini pricing.The Retina iPad will get a Lightning connector like the iPhone 5, according to 9to5Mac, citing unidentified sources. And, if true, that may not be all. The updated 9.7-inch Retina iPad could address issues with the first-generation Retina product.That includes making it lighter and improving the LED backlight apparatus, according to a previous CNET report, based on comments from Richard Shim, a DisplaySearch analyst. "We are seeing [Apple] work with panel makers to come out with a display that enables a thinner overall [product] with longer battery life," Shim told CNET in September. Of course, it can't be emphasized enough that this is speculation, as a physical design refresh coming roughly seven months after the Retina iPad was announced would be an odd move by Apple.In September, Shim said he had no definitive evidence of a finished product, as his sources were in the Asia "supply chain" of manufacturing and assembly companies, whose product supply status can change from month to month. Another potential feature update is a new global LTE radio.Related storiesDid Apple settle on Plan B for the third-generation iPad?iPad Mini: What to expect on October 23A second report at 9to5Mac said the Wi-Fi-only iPad Mini is likely to start at a "minimum of $329," while higher capacity models would get the standard pricing treatment: $100 and $200 premiums, depending on storage capacity. The report couched this as a "best guess" based on information from unidentified sources. Versions with 4G/LTE capability could get a $130 premium in addition to the standard larger storage capacity premiums.That would keep the least expensive iPod Touch, at $299, cheaper than the cheapest iPad Mini.And, finally, 9to5Mac says leaks point to a rollout of iBooks 3.0 at next week's Apple event. Apple is expected to announce the iPad Mini and other products at an October 23 special event, which CNET will be live-blogging. This content is rated TV-MA, and is for viewers 18 years or older. Are you of age?YesNoSorry, you are not old enough to view this content.Play
IP Camera turns your iPhone into a security cam
IP Camera turns your iPhone into a security cam
The iPhone has many applications that let you view Web cams from around the world, but what about turning your phone into a remote camera of its own? A new app called IP Camera (warning: iTunes link) does just that. This $1.99 tool takes a photo from your iPhone's camera every 12 to 15 seconds, then posts it to a local Web page that can be accessed from other computers on the same network.All that's needed for setup is to make sure your phone is on Wi-Fi, then to jot down the special local HTTP address it gives you. It will keep running until you quit the application manually or get a phone call; although like any good iPhone app it starts right back up when you're done with a call.While there are very few bells and whistles, this app worked really well in my testing with an iPhone 3G. Although one big thing that's missing is a way to archive the photos it takes. You can temporarily stop its stream of photos, then save whichever one it's on, but it does not keep a "recents" on its Web page, or on your phone's camera roll. I'd also like to see a way to change the frequency in which it takes photos, which could keep it from zapping too much juice if you're using it while disconnected from a power plug. And a way to run it with the display off would be nice too, since hitting the sleep button freezes the app into re-sending the same shot over and over again. Tip: the iPod universal dock and iPhone 3G dock are both angled in such a way that makes it incredibly easy to perch your phone on a bookshelf or on top of a coworker's cube and get a great view. They'll never suspect you're watching their every move.Related: DIY home surveillance with a WebcamThe IP Camera app turns your iPhone into a mini server, taking photos every 15 seconds and posting them almost-live to a Web page.CNET
The iPhone has many applications that let you view Web cams from around the world, but what about turning your phone into a remote camera of its own? A new app called IP Camera (warning: iTunes link) does just that. This $1.99 tool takes a photo from your iPhone's camera every 12 to 15 seconds, then posts it to a local Web page that can be accessed from other computers on the same network.All that's needed for setup is to make sure your phone is on Wi-Fi, then to jot down the special local HTTP address it gives you. It will keep running until you quit the application manually or get a phone call; although like any good iPhone app it starts right back up when you're done with a call.While there are very few bells and whistles, this app worked really well in my testing with an iPhone 3G. Although one big thing that's missing is a way to archive the photos it takes. You can temporarily stop its stream of photos, then save whichever one it's on, but it does not keep a "recents" on its Web page, or on your phone's camera roll. I'd also like to see a way to change the frequency in which it takes photos, which could keep it from zapping too much juice if you're using it while disconnected from a power plug. And a way to run it with the display off would be nice too, since hitting the sleep button freezes the app into re-sending the same shot over and over again. Tip: the iPod universal dock and iPhone 3G dock are both angled in such a way that makes it incredibly easy to perch your phone on a bookshelf or on top of a coworker's cube and get a great view. They'll never suspect you're watching their every move.Related: DIY home surveillance with a WebcamThe IP Camera app turns your iPhone into a mini server, taking photos every 15 seconds and posting them almost-live to a Web page.CNET
Wallet App addresses iPhone security flaws (Review)
Wallet App addresses iPhone security flaws (Review)
Wallet's nicest feature across all versions is that it lets you synchronize your encrypted Wallet database to multiple Macs, iPhones, or iPod Touches using MobileMe. All these devices share the same database, and sync setup is performed by completing a few minor configuration steps on each device. You can also sync directly between the devices and your Mac using Wi-Fi. MobileMe SyncAcrylic SoftwareWallet lets you do some serious customizing to meet your needs. You can complete all data entry on your iPhone and customize how your data is stored by extending group fields without any limits. You can add attachments to any record, but unfortunately only using the desktop version of Wallet. Wallet's easy search feature, which works like the one in the Apple Contacts app, finds what you're looking for quickly and easily.Casual editing on the mobile version of Wallet will suffice, but the iPhone's lack of cut-and-paste tools makes mass editing difficult; for that, we prefer the desktop version. The desktop version also offers other powerful features not available on the mobile version, including a password generator. If you're concerned about security on your iPhone, certainly consider Wallet, which addresses some, but not all of the iPhone's security problems. Wallet can protect your data if you entrust it with your private information, but it won't protect native Apple iPhone applications--for those, you're stuck until Apple includes encryption features in its own applications.
Wallet's nicest feature across all versions is that it lets you synchronize your encrypted Wallet database to multiple Macs, iPhones, or iPod Touches using MobileMe. All these devices share the same database, and sync setup is performed by completing a few minor configuration steps on each device. You can also sync directly between the devices and your Mac using Wi-Fi. MobileMe SyncAcrylic SoftwareWallet lets you do some serious customizing to meet your needs. You can complete all data entry on your iPhone and customize how your data is stored by extending group fields without any limits. You can add attachments to any record, but unfortunately only using the desktop version of Wallet. Wallet's easy search feature, which works like the one in the Apple Contacts app, finds what you're looking for quickly and easily.Casual editing on the mobile version of Wallet will suffice, but the iPhone's lack of cut-and-paste tools makes mass editing difficult; for that, we prefer the desktop version. The desktop version also offers other powerful features not available on the mobile version, including a password generator. If you're concerned about security on your iPhone, certainly consider Wallet, which addresses some, but not all of the iPhone's security problems. Wallet can protect your data if you entrust it with your private information, but it won't protect native Apple iPhone applications--for those, you're stuck until Apple includes encryption features in its own applications.
Walkman beats iPod in Japan, if only for a moment
Walkman beats iPod in Japan, if only for a moment
Sales of Sony's Walkman line beat those of Apple's iPod line in Japan for the month of August, according to survey results released Thursday by BCN, a Tokyo-based research firm. During August, Sony took a 47.8 percent share of the portable music player market, while Apple captured 44 percent. This marks the first time that Sony has inched ahead of Apple in a monthly tally since BCN began its surveys in 2001.If it sounds like you've heard this news before, well, that's because you have. Sort of. It was a year ago almost to the day that BCN reported higher sales for Sony's player in late August--but that victory was just for a single week.Of course, timing is everything. In both cases, the Walkman outsold the iPod just ahead of Apple's annual refresh of its iPod lineup. So Sony likely received a temporary boost from customers who held off buying iPods until the new models hit the market in September, according to BCN. The survey results also include only dedicated music players, leaving out Apple's iPhone.But also, BCN said, the Japanese electronics giant has been trying to push more affordable products, a strategy that may have helped Walkman sales last month as well.Collectively, Apple and Sony own 90 percent of the portable audio player market in Japan, with about a dozen other vendors duking it out for the remaining 10 percent, according to BCN (Google Translate version).On Wednesday, meanwhile, Sony used the IFA show in Berlin to unveil its new, cloud-based Music Unlimited service, venturing once again into waters dominated by Apple's iTunes service.
Sales of Sony's Walkman line beat those of Apple's iPod line in Japan for the month of August, according to survey results released Thursday by BCN, a Tokyo-based research firm. During August, Sony took a 47.8 percent share of the portable music player market, while Apple captured 44 percent. This marks the first time that Sony has inched ahead of Apple in a monthly tally since BCN began its surveys in 2001.If it sounds like you've heard this news before, well, that's because you have. Sort of. It was a year ago almost to the day that BCN reported higher sales for Sony's player in late August--but that victory was just for a single week.Of course, timing is everything. In both cases, the Walkman outsold the iPod just ahead of Apple's annual refresh of its iPod lineup. So Sony likely received a temporary boost from customers who held off buying iPods until the new models hit the market in September, according to BCN. The survey results also include only dedicated music players, leaving out Apple's iPhone.But also, BCN said, the Japanese electronics giant has been trying to push more affordable products, a strategy that may have helped Walkman sales last month as well.Collectively, Apple and Sony own 90 percent of the portable audio player market in Japan, with about a dozen other vendors duking it out for the remaining 10 percent, according to BCN (Google Translate version).On Wednesday, meanwhile, Sony used the IFA show in Berlin to unveil its new, cloud-based Music Unlimited service, venturing once again into waters dominated by Apple's iTunes service.
Come fly with me- iPhone airport managers
Come fly with me: iPhone airport managers
Gaming, at its core, is all about living out our inner fantasies; playing as Navy Seals, F1 drivers or galaxy-saving space marines. If your fantasy is more along the lines of managing airport traffic then we've stumbled across a few iPhone games that may appease those secret pen-pushing, desk-jockey desires.Flight Control lets you play airport God while the planes are in the air. Its simple design shows a three-path landing zone; one for big planes, one for small planes and a third for helicopters. After you start a new game planes immediately appear on the screen, each with a different trajectory. Your task is to guide them safely onto their respective runways by selecting a plane with your finger and drawing the best path for them to take.The game starts slowly, but you'll soon discover that it isn't a simple matter of drawing a straight line from plane to the start of the runway, and that you'll likely have to draw a large looping path to be sure each plane or helicopter lands with a short interval between. As the tempo builds it becomes increasingly challenging to estimate the distance each plane needs to travel and if their path will collide with any others. Strangely, there's no level system, so you start the game and play until two planes collide and then Game Over.If you want a more involved airport experience then Airport Mania is for you. This game also has you time the taxiing of incoming air traffic, but most of the gameplay takes place on the ground. After a plane lands you need to direct it to a terminal to unload and take on new passengers, and if the plane needs fuel or maintenance you need to make room for them at the gas station and the service hangar.The heart of Airport Mania is time management in the vein of the popular Dinner Rush games. The incoming planes are painted in various colours and you earn multiplying bonus for matching planes with similarly coloured terminals. Both games may lack the thrill of actually flying a plane, but offer something a little different in return for AU$1.19 each.
Gaming, at its core, is all about living out our inner fantasies; playing as Navy Seals, F1 drivers or galaxy-saving space marines. If your fantasy is more along the lines of managing airport traffic then we've stumbled across a few iPhone games that may appease those secret pen-pushing, desk-jockey desires.Flight Control lets you play airport God while the planes are in the air. Its simple design shows a three-path landing zone; one for big planes, one for small planes and a third for helicopters. After you start a new game planes immediately appear on the screen, each with a different trajectory. Your task is to guide them safely onto their respective runways by selecting a plane with your finger and drawing the best path for them to take.The game starts slowly, but you'll soon discover that it isn't a simple matter of drawing a straight line from plane to the start of the runway, and that you'll likely have to draw a large looping path to be sure each plane or helicopter lands with a short interval between. As the tempo builds it becomes increasingly challenging to estimate the distance each plane needs to travel and if their path will collide with any others. Strangely, there's no level system, so you start the game and play until two planes collide and then Game Over.If you want a more involved airport experience then Airport Mania is for you. This game also has you time the taxiing of incoming air traffic, but most of the gameplay takes place on the ground. After a plane lands you need to direct it to a terminal to unload and take on new passengers, and if the plane needs fuel or maintenance you need to make room for them at the gas station and the service hangar.The heart of Airport Mania is time management in the vein of the popular Dinner Rush games. The incoming planes are painted in various colours and you earn multiplying bonus for matching planes with similarly coloured terminals. Both games may lack the thrill of actually flying a plane, but offer something a little different in return for AU$1.19 each.
Comcast Xfinity app now lets you download movies for offline viewing
Comcast Xfinity app now lets you download movies for offline viewing
There are plenty of apps that can stream movies and TV shows to your tablet or smartphone -- Amazon Instant Video, Crackle, HBO Go, Hulu Plus, Netflix... shall I go on? -- but very few that let you download content for offline viewing.That's kind of a bummer, because it means if you want to watch something on, say, an airplane, you have little choice but to buy from iTunes or rip from DVDs.If you're a Comcast subscriber, now you have another option. The newly updated Comcast Xfinity TV Player app (Android|iOS) now offers the enviable ability to download movies and TV shows from four networks: Encore, MoviePlex, Showtime, and Starz.That's kind of a big deal. And it works, too, at least on the iPad and Samsung Galaxy S III that I used for testing. As long as you already have those channels as part of your Comcast subscription, you'll see a Download button alongside the Play button that appears when you browse the app's on-demand content.The app gives you a choice between "medium" and "highest" quality for your downloads, the latter potentially chewing up your available storage in a hurry. To get "21 Jump Street" at highest quality, for example, you'll need 2.4GB of free space. However, the medium-quality version consumes just 478MB -- and to my eyes looked decent enough, especially on smaller screens.Obviously it would be great if this download option extended to all Comcast's offerings, especially HBO, but certainly there's some good viewing to be found here. Showtime, of course, is home to "Homeland," "Dexter," "Episodes," and "Nurse Jackie," among other critically acclaimed series. (Movie selection: meh.) And on Starz I found not only "Boss," "Party Down," and "Torchwood: Miracle Day," but also the aforementioned "21 Jump Street" and "Moneyball."So, yeah, if you're a Comcast pay-channel subscriber, now you can pack your phone or tablet with good stuff for your next flight. Here's hoping some of those other apps I mentioned (cough, HBO Go, cough) will follow Comcast's awesome lead.
There are plenty of apps that can stream movies and TV shows to your tablet or smartphone -- Amazon Instant Video, Crackle, HBO Go, Hulu Plus, Netflix... shall I go on? -- but very few that let you download content for offline viewing.That's kind of a bummer, because it means if you want to watch something on, say, an airplane, you have little choice but to buy from iTunes or rip from DVDs.If you're a Comcast subscriber, now you have another option. The newly updated Comcast Xfinity TV Player app (Android|iOS) now offers the enviable ability to download movies and TV shows from four networks: Encore, MoviePlex, Showtime, and Starz.That's kind of a big deal. And it works, too, at least on the iPad and Samsung Galaxy S III that I used for testing. As long as you already have those channels as part of your Comcast subscription, you'll see a Download button alongside the Play button that appears when you browse the app's on-demand content.The app gives you a choice between "medium" and "highest" quality for your downloads, the latter potentially chewing up your available storage in a hurry. To get "21 Jump Street" at highest quality, for example, you'll need 2.4GB of free space. However, the medium-quality version consumes just 478MB -- and to my eyes looked decent enough, especially on smaller screens.Obviously it would be great if this download option extended to all Comcast's offerings, especially HBO, but certainly there's some good viewing to be found here. Showtime, of course, is home to "Homeland," "Dexter," "Episodes," and "Nurse Jackie," among other critically acclaimed series. (Movie selection: meh.) And on Starz I found not only "Boss," "Party Down," and "Torchwood: Miracle Day," but also the aforementioned "21 Jump Street" and "Moneyball."So, yeah, if you're a Comcast pay-channel subscriber, now you can pack your phone or tablet with good stuff for your next flight. Here's hoping some of those other apps I mentioned (cough, HBO Go, cough) will follow Comcast's awesome lead.
Apple shares slip toward $500 on iPhone 5 demand worries
Apple shares slip toward $500 on iPhone 5 demand worries
Apple's stock today dallied with the $500 mark, and not in a good way.Shares of the iPad and Mac maker closed the day at $501.75, down more than 3 percent, after spending much of the day floating in the $503 range. In the waning moments of the trading day, Apple shares had trended downward as low as $500.07 before rallying in the final five minutes. As trading on the Nasdaq got under way this morning, Apple did very briefly hit $498.51 a few minutes after the opening. The share price had been slipping notably in premarket trading.Apple's investors are unloading shares over news that the company has cut iPhone 5 component orders in half due to weaker-than-expected demand for its new smartphone. That came just weeks after UBS analyst Steven Milunovich cut his iPhone sales estimates by 5 million units in three 2013 quarters, saying that Apple would face increasing trouble selling both its smartphones and tablets.Still, Milunovich isn't so worried about Apple's shares. He wrote in his research note that he expects Apple's shares to hit $700 over the next 12 months.Over the last several months, Apple's shares have been steadily coming down. Apple's 52-week high is $705.07. At a closing price on Friday of $520.30, Apple is closer to its 52-week low of $418.66 than its high. In the last three months alone, Apple's stock has slid 17 percent.Last update at 1:13 p.m. PT: This story was updated several times during the day to reflect intraday shifts in Apple's share price, including the closing price.
Apple's stock today dallied with the $500 mark, and not in a good way.Shares of the iPad and Mac maker closed the day at $501.75, down more than 3 percent, after spending much of the day floating in the $503 range. In the waning moments of the trading day, Apple shares had trended downward as low as $500.07 before rallying in the final five minutes. As trading on the Nasdaq got under way this morning, Apple did very briefly hit $498.51 a few minutes after the opening. The share price had been slipping notably in premarket trading.Apple's investors are unloading shares over news that the company has cut iPhone 5 component orders in half due to weaker-than-expected demand for its new smartphone. That came just weeks after UBS analyst Steven Milunovich cut his iPhone sales estimates by 5 million units in three 2013 quarters, saying that Apple would face increasing trouble selling both its smartphones and tablets.Still, Milunovich isn't so worried about Apple's shares. He wrote in his research note that he expects Apple's shares to hit $700 over the next 12 months.Over the last several months, Apple's shares have been steadily coming down. Apple's 52-week high is $705.07. At a closing price on Friday of $520.30, Apple is closer to its 52-week low of $418.66 than its high. In the last three months alone, Apple's stock has slid 17 percent.Last update at 1:13 p.m. PT: This story was updated several times during the day to reflect intraday shifts in Apple's share price, including the closing price.
Apple shares jump, hover shy of $500 mark
Apple shares jump, hover shy of $500 mark
Today's jump comes alongside expectations of Apple announcing a new version of its iPad next month. A reportfrom All Things Digital this morning that was posted shortly before the market opened, claimed that Apple would be holding that event the first week of March, as well as adding details about what features it would include.Related storiesiPhone 4S propels Apple to massive earningsApple shares close on a high following earnings bumpApple's fiscal 2011 by the numbersApple will reportedly unveil iPad 3 in early MarchApple's stock began its latest surge immediately following the company's first quarter earnings, which were announced January 24. The company posted record revenues and profits, led by all-time sales records for its iPhone, iPad and Mac products. Apple also forecasted earnings for its current quarter that came in ahead of what analysts were expecting. Immediately after the news, shares shot up nearly 8 percent, going on to close the next day up another 6.24 percent.Long before that, the recent surge has been part of a larger recovery of the company's shares since the death of co-founder and CEO Steve Jobs in October. As Fortune's Philip Elmer-DeWitt noted yesterday, the company's share price has gone up about $100 since then; today, they're up a total of $120.67. Apple's soaring valuation will likely get its share of attention at the company's annual shareholder meeting later this month. In a note to investors posted by Fortune earlier this week, UBS said that Apple's management has been "soliciting opinions of large shareholders" about paying a dividend, something that Apple does not currently do, but is frequently asked about.Beyond today's gains, onlookers are eyeing Apple's stock to see if the company's market cap can hit the half trillion dollar mark. An updated share price target from Goldman Sachs last month put Apple's shares at $550 after the firm's re-estimation of the company's iPhone sales, a price that would put it about $12 billion past that milestone.
Today's jump comes alongside expectations of Apple announcing a new version of its iPad next month. A reportfrom All Things Digital this morning that was posted shortly before the market opened, claimed that Apple would be holding that event the first week of March, as well as adding details about what features it would include.Related storiesiPhone 4S propels Apple to massive earningsApple shares close on a high following earnings bumpApple's fiscal 2011 by the numbersApple will reportedly unveil iPad 3 in early MarchApple's stock began its latest surge immediately following the company's first quarter earnings, which were announced January 24. The company posted record revenues and profits, led by all-time sales records for its iPhone, iPad and Mac products. Apple also forecasted earnings for its current quarter that came in ahead of what analysts were expecting. Immediately after the news, shares shot up nearly 8 percent, going on to close the next day up another 6.24 percent.Long before that, the recent surge has been part of a larger recovery of the company's shares since the death of co-founder and CEO Steve Jobs in October. As Fortune's Philip Elmer-DeWitt noted yesterday, the company's share price has gone up about $100 since then; today, they're up a total of $120.67. Apple's soaring valuation will likely get its share of attention at the company's annual shareholder meeting later this month. In a note to investors posted by Fortune earlier this week, UBS said that Apple's management has been "soliciting opinions of large shareholders" about paying a dividend, something that Apple does not currently do, but is frequently asked about.Beyond today's gains, onlookers are eyeing Apple's stock to see if the company's market cap can hit the half trillion dollar mark. An updated share price target from Goldman Sachs last month put Apple's shares at $550 after the firm's re-estimation of the company's iPhone sales, a price that would put it about $12 billion past that milestone.
Apple shares have fallen far enough, Citi says
Apple shares have fallen far enough, Citi says
Citi prefers to be optimistic when it comes to Apple. It's not really alone in this (as the firm notes, 51 out of 56 analysts recommend investors buy Apple shares), but what is different is the optimism comes after a rough patch for Apple's stock. Apple shares have dropped pretty badly over the past couple of months -- down about 18 percent from a high of $705.07 in September -- but that decline is likely about over, Citi says. The firm today started coverage on the electronics giant by recommending investors buy shares and saying the stock should reach $675 over the next 12 months. It notes that Apple shares typically climb 20 percent to 50 percent following sell-offs similar to the most recent drop. Apple's stock is bouncing a bit today following declines over the past couple of months.Google screenshot by Shara Tibken/CNETCiti's opinion about Apple isn't much different from other analyst firms. It believes the giant's share of the smartphone market is at risk from low-end smartphones and competition from other ecosystems. It expects tablets to grow, but that will hurt margins. Related stories:Apple shares bounce back after tough few weeksApple shares fall more than 3.6 percentIt's Tuesday, so naturally Apple shares are plungingIt also notes new competition is pressuring pricing, accelerates product introduction, and can hurt branding. "Room for error is diminished, placing growing emphasis on execution," the firm noted. All of those factors are making investors a little cautious, Citi said, and that likely will prevent shares from jumping as high as they have been. As a result, the firm says it is focusing on "incremental earnings changes," investing in periods of the greatest possible jump in earnings and selling shares when estimates show the greatest risk."This is tantamount to investing in 'product cycles,' and while we expect some investors will bristle at this approach, we believe returns will be optimized employing this approach in future," Citi said.
Citi prefers to be optimistic when it comes to Apple. It's not really alone in this (as the firm notes, 51 out of 56 analysts recommend investors buy Apple shares), but what is different is the optimism comes after a rough patch for Apple's stock. Apple shares have dropped pretty badly over the past couple of months -- down about 18 percent from a high of $705.07 in September -- but that decline is likely about over, Citi says. The firm today started coverage on the electronics giant by recommending investors buy shares and saying the stock should reach $675 over the next 12 months. It notes that Apple shares typically climb 20 percent to 50 percent following sell-offs similar to the most recent drop. Apple's stock is bouncing a bit today following declines over the past couple of months.Google screenshot by Shara Tibken/CNETCiti's opinion about Apple isn't much different from other analyst firms. It believes the giant's share of the smartphone market is at risk from low-end smartphones and competition from other ecosystems. It expects tablets to grow, but that will hurt margins. Related stories:Apple shares bounce back after tough few weeksApple shares fall more than 3.6 percentIt's Tuesday, so naturally Apple shares are plungingIt also notes new competition is pressuring pricing, accelerates product introduction, and can hurt branding. "Room for error is diminished, placing growing emphasis on execution," the firm noted. All of those factors are making investors a little cautious, Citi said, and that likely will prevent shares from jumping as high as they have been. As a result, the firm says it is focusing on "incremental earnings changes," investing in periods of the greatest possible jump in earnings and selling shares when estimates show the greatest risk."This is tantamount to investing in 'product cycles,' and while we expect some investors will bristle at this approach, we believe returns will be optimized employing this approach in future," Citi said.
Apple shares fall; market cap tumbles below $400B
Apple shares fall; market cap tumbles below $400B
Apple's market cap -- a measure of the value of a company -- is now below $400 billion.The company passed the milestone as Apple's shares fell 2 percent in trading this morning and the decline continued through the day to a closing price of $420.05, a drop of 2.4 percent from Friday's closing price. At that share price, Apple's market cap is now $394.45 billion. The company's valuation hasn't been that low since late 2011.Apple's share price has been on a steady decline over the last several months. In the last six months alone, the price has gone down more than 37 percent. Its 52-week high of $705.07 seems like a distant memory at this point.At a shareholder meeting last week, Apple CEO Tim Cook responded to a questionabout his company's slumping stock price, saying he doesn't "like it either." He didn't say, however, what he might do to turn things around.Whether it's really cause for concern, though, is up for debate. In an interview with CNBC's Squawk Box this morning, famed investor Warren Buffett said that CEOs "can't run a business to push the stock price up on a daily basis," adding that his own company, Berkshire Hathaway, "has gone down 50 percent four times in its history.""When that happens, if you've got money you buy it," he said. And, well, Apple does have $137 billion in its cash reserve, a fact that helped propel the Greenlight Capital insurgency that just came to an end after several contentious weeks.Buffett is not an Apple shareholder.Update 1:42 p.m. PT: Updated with the closing price for Apple's shares and the company's market capitalization at that price.
Apple's market cap -- a measure of the value of a company -- is now below $400 billion.The company passed the milestone as Apple's shares fell 2 percent in trading this morning and the decline continued through the day to a closing price of $420.05, a drop of 2.4 percent from Friday's closing price. At that share price, Apple's market cap is now $394.45 billion. The company's valuation hasn't been that low since late 2011.Apple's share price has been on a steady decline over the last several months. In the last six months alone, the price has gone down more than 37 percent. Its 52-week high of $705.07 seems like a distant memory at this point.At a shareholder meeting last week, Apple CEO Tim Cook responded to a questionabout his company's slumping stock price, saying he doesn't "like it either." He didn't say, however, what he might do to turn things around.Whether it's really cause for concern, though, is up for debate. In an interview with CNBC's Squawk Box this morning, famed investor Warren Buffett said that CEOs "can't run a business to push the stock price up on a daily basis," adding that his own company, Berkshire Hathaway, "has gone down 50 percent four times in its history.""When that happens, if you've got money you buy it," he said. And, well, Apple does have $137 billion in its cash reserve, a fact that helped propel the Greenlight Capital insurgency that just came to an end after several contentious weeks.Buffett is not an Apple shareholder.Update 1:42 p.m. PT: Updated with the closing price for Apple's shares and the company's market capitalization at that price.
Apple shares close below $500 as investors fail to shake worry
Apple shares close below $500 as investors fail to shake worry
Apple investors can't seem to shake their concern over the company's future.Shares in the iPhone maker ended the day at $485.92, down just over 3 percent for the day after having closed yesterday at $501.75. In trading today, Apple's stock never rose above the $500 mark.On Sunday, The Wall Street Journal cited sources who said that Apple had cut component orders for its iPhone 5 due to slumping demand for the handset. That bad news pushed Apple's shares lower yesterday as investors became concerned with the company's ability to compete as effectively in the mobile market.Earlier today, however, several analysts tried to calm fears, saying that while Apple's component orders are down, iPhone 5 demand has stayed strong. The declining orders are believed to be the byproduct of improved yields, meaning production is becoming more efficient and actually improving Apple's iPhone margins.Apple's stock has been hit with a downward trend over the last several months. In the last three months, Apple's shares are down 22 percent. The company's stock is also far off its 52-week high of $705.07. Apple's 52-week low is $419.55 -- not too distant from its current price.The bearish view investors have taken on Apple's stock stands in stark contrast to analyst estimates. According to data from Marketwatch, which tallies the research from 54 analysts, Apple has an average target share price over the next 12 months of $735.Earlier today, Sterne Agee analyst Shaw Wu reasserted his belief that Apple is a "buy," adding that he believes the company's shares could jump to $840 in the next 12 months. Baird analyst William Power said he believes Apple's shares could rise to $750.Update at 1:08 p.m. PT: Added Apple's closing price.
Apple investors can't seem to shake their concern over the company's future.Shares in the iPhone maker ended the day at $485.92, down just over 3 percent for the day after having closed yesterday at $501.75. In trading today, Apple's stock never rose above the $500 mark.On Sunday, The Wall Street Journal cited sources who said that Apple had cut component orders for its iPhone 5 due to slumping demand for the handset. That bad news pushed Apple's shares lower yesterday as investors became concerned with the company's ability to compete as effectively in the mobile market.Earlier today, however, several analysts tried to calm fears, saying that while Apple's component orders are down, iPhone 5 demand has stayed strong. The declining orders are believed to be the byproduct of improved yields, meaning production is becoming more efficient and actually improving Apple's iPhone margins.Apple's stock has been hit with a downward trend over the last several months. In the last three months, Apple's shares are down 22 percent. The company's stock is also far off its 52-week high of $705.07. Apple's 52-week low is $419.55 -- not too distant from its current price.The bearish view investors have taken on Apple's stock stands in stark contrast to analyst estimates. According to data from Marketwatch, which tallies the research from 54 analysts, Apple has an average target share price over the next 12 months of $735.Earlier today, Sterne Agee analyst Shaw Wu reasserted his belief that Apple is a "buy," adding that he believes the company's shares could jump to $840 in the next 12 months. Baird analyst William Power said he believes Apple's shares could rise to $750.Update at 1:08 p.m. PT: Added Apple's closing price.
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