Editor’s Note: Related tickers: Apple Inc. (NASDAQ:AAPL)
As the technology world buzzes with speculation that the next iPhone will have a fingerprint reader, makers of biometric security devices are bracing for a race among smartphone makers to adopt the technology. Apple Inc. (NASDAQ:AAPL) will unveil a new iPhone next month, according to a person familiar with the plans. ABI Research and KGI Securities Co. are among the industry watchers that say the device will include a fingerprint reader, a prediction bolstered by Apple Inc. (NASDAQ:AAPL)’s $350 million purchase of fingerprint- sensor maker AuthenTec Inc. last year.
Bigger buybacks can drive Apple shares to $700: Icahn (Reuters)
Activist investor Carl Icahn said he has amassed a “large position” in Apple Inc. (NASDAQ:AAPL) and believes the stock could be worth as much as $700 a share if Chief Executive Tim Cook pushed for a larger stock buyback. The surprise revelation from the billionaire activist caused a stir on Wall Street and pushed Apple Inc. (NASDAQ:AAPL)’s stock almost 5 percent higher to close at a 7-month high of $489.57 on the Nasdaq on Tuesday. Icahn said on Twitter that he had a “nice conversation” with Cook on Tuesday and they planned to speak again soon. Apple Inc. (NASDAQ:AAPL) confirmed the conversation took place, but did not say if it influenced management’s view of buybacks.
Apple said to plan iPhones, ipads timed for holiday sales (TheReporter)
Apple Inc. (NASDAQ:AAPL) plans to introduce new versions of the iPhone and iPad in time for the holiday shopping season, seeking to entice shoppers who delayed purchases amid a dearth of new models so far this year. The new iPhone will be unveiled at a Sept. 10 event, according to a person with knowledge of the plans who asked not to be named because the timing isn’t public. Updated iPad models, including an iPad with a thinner body design and an iPad mini with a high-resolution screen will be unveiled later, two people said. Software for the devices, as well as for Mac computers, will also be revamped, Apple Inc. (NASDAQ:AAPL) said in June.
AAPL breaks above 200-day moving average (CNBC)
Foxconn Enjoys 41 Percent Profit Increase Thanks To Apple’s iPhone (AppAdvice)
During the second fiscal quarter of 2013, Foxconn reportedly saw an increase in profit of 41 percent due to strong sales of Apple Inc. (NASDAQ:AAPL)’s iPhone handset. While predictions for Q2 2013 iPhone sales were between 25-27 million, sales figures of 30 million meant that the China-based manufacturer smashed its own targets, too, exceeding its anticipated net profit by an impressive 0.66 billion New Taiwan Dollars (or U.S. $22 million). As such, while Apple Inc. (NASDAQ:AAPL) reported second quarter earnings of $6.9 billion, Foxconn enjoyed N.T. $16.98 billion in profit (U.S. $566.7 million) for the three-month period, which ended on March 30, 2013. It’s worth noting, however, that analysts had predicted Q2 2013 earnings for Foxconn to be closer to N.T. $16.32 billion (U.S. $544.2 million).
American components in Apple’s iPhone supply chain graphically detailed (AppleInsider)
Alex Hillsberg of Finances Online produced an infographic outlining the source of Apple Inc. (NASDAQ:AAPL)’s iPhone components, right down to the rare earth metals involved in manufacturing high tech parts from its display and speakers to its silicon and vibration motor. “Most rare earth metals come from China,” the report states, noting that 90 percent are mined in Inner Mongolia and China. The graphic also presents Apple Inc. (NASDAQ:AAPL)’s global workforce and depicts why Apple Inc. (NASDAQ:AAPL) assembles most of its devices in China, emphasizing “fast, not cheep labor,” as depicted in an excerpt of the infographic, above.
