[ad_1]
Evercore remains positive on Apple, negative zero on COVID-19 in China and the fight with the union “connection”.
Evercore calls Apple a “set-it-and-forget-it” investment
If there’s one thing Evercore analyst Amit Darian likes, it’s a long-term investment in Apple stock. MarketWatch That underscored a note he wrote Friday in which he named ticker symbol AAPL his firm’s best “set-it-and-forget-it” investment. Yes – he knows about the fiasco that is/was iPhone City. It’s not about him. Quoting his remark:
While we understand that investors are concerned about the near-term outlook for the iPhone given the production disruption issues in China, we see any headwinds as temporary and investors should remain focused on the long-term opportunities…
I think he’s referring to the opportunity that is Apple, as it outlines several opportunities for the Cupertino company. Again quoting his remark:
We are sure that Apple is working on AR/VR [augmented reality/virtual reality] products, and it’s likely to be the next major hardware product… On the software side, Apple is making big strides in advertising and payments that investors are generally underappreciating.
Darianan sees a “high probability” that Apple will try mixed reality headsets in the next six to twelve months. If it follows a trajectory similar to the Apple Watch, “it could contribute $18.1 billion in sales and 19 cents in EPS. [earnings per share] on a scale,” says the analyst.
As for the part of payments, the analyst says:
Apple’s interest in financial services makes a lot of sense, as a large part of their digital services strategy revolves around building “tax booths” into the ecosystem…
The way he sees it, the tech giant’s fintech side will generate $11.6 billion in revenue by fiscal 2026. If there’s one thing he likes, it’s a long-term investment in Apple. Dariaan has a positive rating on Apple shares. Its price on shares is 190 dollars.
‘iPhone City’ lifts COVID restrictions as China abandons zero COVID policy
Most of the Covid restrictions have been lifted at Foxconn’s iPhone City factory in Qingdao, China, according to the article. 9 to 5 Mac. The closed loop seems to be no loop now – the plant’s point-to-point system is complete. The article explains that this was the system:
…in which workers were only allowed to move between their dormitory and the production line, with no other movement within the factory.
This meant “no access to the cafeteria and recreation facilities” and of course no going out. The change comes after China appears to have abandoned its zero-covid restrictions. It also comes as the country faces “the biggest public health challenge since the start of the coronavirus pandemic”. CBS News. Quoting this report:
nine days later [Chinese] With the government suddenly abandoning its draconian “zero-COVID” policy, suspending mandatory mass testing and forced quarantines, COVID-19 is still spreading like wildfire across the vast country.
Interestingly, the World Health Organization says that one has nothing to do with the other. Dr. Mike Ryan, head of the organization’s emergency programs, says:
The explosion of cases in China is not due to the lifting of COVID restrictions… the explosion of cases in China began long before any easing of the zero-covid policy.
It sounds kind of crazy. Then you remember that the outbreak of COVID started at the iPhone City factory when zero COVID was still in full effect.
If you’re wondering what this all means for iPhone production, we’ll have to wait and see. 9 to 5 Mac says:
It will still take a long time for iPhone 14 Pro production to ramp up to the point where supply is balanced with demand, but at least iPhone workers will have dramatically better working conditions. This, in turn, should help Foxconn hire more staff who have left.
The CWA accuses Apple of using a false connection to fight the union
You know the phrase “fight fire with fire?” Apple has been accused of fighting the “connection battle”. During 2022, we heard talk of Apple Retail locations considering a merger. We also heard allegations of anti-union maneuvering by the Cupertino company. Now, the piece 9 to 5 Mac He says the company tried to avoid union action by organizing a “pseudo-union.”
Separation a Bloomberg account, 9 to 5 Mac The Communication Workers of America (CWA) is said to have filed a complaint with the National Labor Relations Board last week accusing Apple of “requiring employees to join an employer-created/employer-dominated labor organization as a means of suppressing union activity.” This is in addition to (starting with) the standard fee:
…holding mandatory anti-union meetings in which management falsely claimed that the company would be legally prohibited from negotiating on certain topics if workers unionized.
The latest complaint is said to involve Apple’s Easton Town Center store in Columbus, Ohio. in an email BloombergA CWA executive said:
Creating a management-controlled labor force is undemocratic and a clear attempt to destroy unions… If management really cared about workers having a voice on the job, they would refer them to the Apple Retail Union/CWA, which is run by workers, not bosses.
Apple has not commented Bloomberg account.
Report: Apple is trying to rent an office in Moscow
Here’s something that sounds crazy: Apple has a leased office in Russia that it’s trying to get out of. It is a lease. Not Russia. Apple is almost out of Russia, but let’s go back.
Back in mid-2021, the Russian government passed laws requiring tech companies that wanted to do business in Russia to have offices in Russia. In early 2022, Russia invaded Ukraine, and suddenly those tech companies didn’t want to do business in Russia. But Apple had just moved into a Russian office about a month before the invasion. Although the company laid off its employees, stopped sales of products in Russia and stopped most of the services there – they rented an office for a month, which cannot be cheap. This is in full view of the Kremlin, according to the article Apple Must.
It is so strange to me that the company is trying to terminate the lease. Why not just pay? Why not keep sending checks once a month? If it’s not that they don’t want to give money to Russia, then why not stop paying?
but… Apple Must He says the Cupertino company is “in negotiations” to close the office.
All this proves one thing: the world will never stop being strange.
Deadline: ‘Shantaram’ has been canceled after one season
The curse of the Apple TV+ series Shantaram It’s over – just as damned as the rest of the series. One of the earliest titles to be picked up by Apple – long before Apple TV+ was announced, the show ran for a few episodes before producers realized that the original writer and showrunner wasn’t going to write every episode. should have taken it. Then COVID-19 hit, delaying the search for a new writer and slowing down international filming after they actually had scripts to shoot.
Finally produced, finally up and running… and apparently that was enough for Apple. a piece Deadline says the Cupertino-based streamer canceled the show after its first (and now only) season.
Apple-1 numbered by Steve Jobs is sold for 442 thousand dollars
And finally, today, we’re checking out the current Apple-1 price index… About a week ago, we told you that another supposedly rare car was coming up for auction. What made it special (besides the fact that it exists and works) is that it was numbered by Apple co-founder and CEO Steve Jobs.
RR Auction expected the car to fetch ~$375,000. He did better than that. a piece AppleInsider Last week’s auction is said to have ended at $442,000 for the car.
Other job paraphernalia up for bid included a NeXT computer brochure signed by Jobs for $18,210. An early production model of the actual NeXT computer (circa 1988) cost about a third of that, selling for less than $6,100. And Apple’s current CEO, Tim Cook, got some love from the suitors. AppleInsider A Bourne University football signed by Mr. Cook sold for $5,700.
today on the Mac Observer’s Daily Observations Podcast
Today on the Daily Observations podcast, TMO Managing Editor Jeff Butts and I talk about the lifting of COVID restrictions at the iPhone City factory. Plus: Will Smith, AirDrop, and Continuity each come out of the mailbag. That’s all for today on the Daily Observation podcast Mac Observer.
[ad_2]
Source link
