Friday, September 30

Tag: Apple Inc

Apple VP leaves company after making jokes in viral TikTok video

Apple VP leaves company after making jokes in viral TikTok video

News
An aerial view of Apple Park is seen in Cupertino, California, United States on October 28, 2021.Tayfun Coskun | Anadolu Agency | Getty ImagesApple's vice president of procurement, Tony Blevins, has left the company after a TikTok video showed him making jokes about women at a car show.An Apple representative confirmed the departure to CNBC, saying "Tony is leaving Apple."The departure was spurred by a TikTok video posted in September, according to Bloomberg, which first reported the news.In the video reviewed by CNBC, Blevins is getting out of an expensive Mercedes Benz and he is asked what he does for a living by Daniel Mac, who has a channel centered around asking people in expensive cars questions.In the video, Blevins jokes that he buys "rich cars, plays golf, and fondles big-breas...
Analyst who made the call reveals why the stock is in trouble

Analyst who made the call reveals why the stock is in trouble

News
The Bank of America analyst who made waves Thursday by downgrading Apple said his decision was based on the tech giant's decision not to upgrade chips in the iPhone 14 series. "That is a real departure from from prior generations," analyst Wamsi Mohan told "Squawk on the Street" when talking about the chips. "We think that that is actually something that consumers are aware of and make a decision based on." Bank of America lowered its rating on the tech giant Thursday to neutral from buy. The firm also lowered its price target on the stock to $160 per share. While that implies an upside of 7%, the previous price target of $185 positioned the stock for a gain of more than 23%. The stock has outperformed the S & P 500 so far in 2022, but Mohan said that Apple's stature as a "safe have...
apple: Apple changed its mind. So who’s on the hook?

apple: Apple changed its mind. So who’s on the hook?

News
Apple Inc. is pulling back from plans to increase production of its new iPhones this year. Instead, it will produce about as many as the prior year, in line with its original forecast. Fair enough — a looming global recession and strong dollar probably mean consumers outside the US will feel the pinch if and when they set out to buy a new phone. Apple had raised its sales projections in the weeks leading up to the iPhone 14’s release, before reverting to its earlier forecast. So in theory, the retreat didn’t massively move the needle for its own products. But the trickle-down effect is harder to manage. What happens to the supply chain and the hundreds of manufacturers depending on Apple for guidance? The latest news hit them hard, sending the shares of chipmakers and phone assemblers t...