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Apple’s market cap surpassed $3 trillion on June 30th, making it the only publicly traded company to surpass this mileston twice. The stock has been on a big run this year, gaining some 49%. Though the stock may witness some rough trading in the near term due to rising rate worries, its long-term prospects look bullish, Zacks Equity Research believes. Zacks Equity Research via Yahoo Finance: According to Fairlead Strategies, Apple’s latest breakout confirms a likely upside in the coming years… Based on the breakout and analysis, Fairlead Strategies sets a price objective of $254 per share for Apple. This represents a significant 31% increase from the current stock price. Achieving this target will push Apple’s market valuation to approximately…
Apple has filed a petition with the U.S. Supreme Court to appeal a ruling that could force the company to change its payment practices in the App Store. The ruling, issued by the 9th U.S. Circuit Court of Appeals on Friday, kept in place most of an order issued in 2021 by U.S. District Judge Yvonne Gonzalez Rogers. The order requires Apple to allow developers to use alternative payment methods in their apps, which could cut into Apple’s revenue from the App Store. U.S. Supreme Court Apple is seeking a review by the Supreme Court, arguing that the ruling would harm consumers and stifle innovation. The company says that the alternative payment methods would be less secure and would make…
Macworld The long-running legal dispute between Apple and Epic Games finally reached a verdict two years ago. But the battle, which began when Epic bypassed Apple’s 30 percent cut for in-app purchases and Apple responded by booting Fortnite out of the App Store, is far from over. And now it’s headed to the highest court in the land. Given that Apple hailed Judge Yvonne Gonzalez Rogers’ 2021 ruling as “a huge win,” it was no surprise when Epic filed an appeal. Less predictably, Apple appealed too. In a filing this week, Apple attorneys argued that the court overreached in issuing a broad nationwide injunction applying to all developers, rather than just Epic. Maybe it wasn’t such a huge win after…
Foxconn, a major assembler for Apple, reported a 13.8% year-on-year drop in second-quarter revenue on Wednesday, but said it expects third-quarter revenue to be brighter ahead of the peak shopping season. The logo of electronics contract manufacturer Foxconn Technology Group, formally known as Hon Hai Precision Industry, is displayed at its headquarters in Taipei. Photo: Agence France-Presse Reuters: Foxconn, formally called Hon Hai Precision Industry Co Ltd and the world’s largest contract electronics maker, said revenue in the April-June period reached T$1.3 trillion ($41.76 billion), in line with its expectations. For smart consumer electronics products, which include smartphones and are the company’s main business driver, revenue in the second quarter dropped, coming off a higher base in the year ago…
Screenshot by Jay Peters / The Verge After a month of outrage, protests, and unrest from the community, Reddit has finally flipped the switch to shut down some third-party apps. Apollo, an iOS app that became a rallying point for the recent protests against Reddit’s imminent API pricing, no longer loads any content from the platform. When I open it up, all I see is a spinning wheel. Developer Christian Selig confirmed to me that Reddit is the one that turned things off, not him: “would have been nice to have been given a time,” he says in an email to The Verge. Well, looks like Reddit pulled the plug a little early. Apollo started crashing, but I just manually…
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