Investors3
12 hours ago
MacBook owners with faulty butterfly keyboards soon to get settlement checks
Tuesday, July 2, 2024 11:29 am
1 Comment
Two years after Apple settled a class-action lawsuit for $50 million over faulty MacBook butterfly keyboards, funds from the settlement will be going out to affected customers.
Juli Clover for MacRumors:
An update on the MacBook Keyboard Litigation Settlement website says that the court issued a payment order on June 27, 2024, with payments set to be issued for approved claims by August 2024.
Emails about the lawsuit were sent out in December 2022 to MacBook owners eligible for a payment. MacBook owners who had at least two topcase replacements from Apple within four years of purchase are set to receive a maximum of $395, while customers who had one topcase repair will receive up to $125. Those who had keycap replacements are eligible for up to $50.
Claims were accepted through March 6, 2023, and the settlement was ultimately approved on May 25, 2023. There is no word on why there has been more than a year’s delay getting payments sent out to customers.
?
MacDailyNews Take: Finally!
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https://macdailynews.com/2024/07/02/macbook-owners-with-faulty-butterfly-keyboards-soon-to-get-settlement-checks/
Investors3
2 days ago
How big could an Apple Intelligence services business be?
Friday, June 28, 2024 5:28 pm
8 Comments
When it comes to Apple Intelligence, the biggest payoff for investors could be yet to come, and it’s not currently in any Wall Street spreadsheets.
Tiernan Ray for Fast Company:
Apple investors breathed a sigh of relief on June 10th when the company’s CEO, Tim Cook, and his deputies held a two-hour presentation about their intention to bring artificial intelligence to the iPhone, iPad, and Mac. Apple had been seriously lagging the giants of AI, Microsoft, and Alphabet’s Google, but they managed to turn things around sharply with a vision for AI assistants that actually offered some nice functionality.
Apple has emphasized the security aspects of its iCloud facilities for the purpose of protecting user data. That opens the door to a meaningful boost in Apple’s services revenue, its most profitable business and its fastest-growing.
Services, including sales of music and video and apps, was a fifth of Apple’s total revenue in the fiscal year that ended in September, at $85 billion, a staggering sum considering it was just $14 billion a decade ago… Services’s profit, moreover, is almost twice what it is for iPhones and iPads and Macs, at 75 percent of sales last quarter versus a profit of 37 percent for product sales.
Anything that contributes to services sales should be music to investors’ ears. AI could be a shot in the arm if Apple decides to broadly sell an AI predictions service in the cloud…
It’s conceivable Apple could offer a retail cloud computing AI service, not unlike the services offered by OpenAI, search engine Perplexity. ai, Google, and privately held Anthropic… All those services have coalesced around a price of $20 per month, which is the price for ChatGPT Plus, Perplexity. ai’s Perplexity Pro, Google’s Google One subscription, which includes its Gemini language model, and Anthropic’s Pro account.
MacDailyNews Take: Apple currently has over a billion paying subscribers and that number continues to grow. As Ray writes in his – recommended – full article, if 10 percent of Apple’s 1+ billion paying subscribers add a privacy-focused “Apple Intelligence+” account, Apple Intelligence becomes a world leader in consumer AI virtually overnight (and its revenue gets another serious boost).
https://macdailynews.com/2024/06/28/how-big-could-an-apple-intelligence-services-business-be/#google_vignette
Investors3
2 days ago
What President Trump told Apple CEO Tim Cook and 80+ other CEOs in their private meeting
Friday, June 28, 2024 2:15 pm
26 Comments
On June 13th, former U.S. President Donald Trump huddled with Apple CEO Tim Cook and at least 80 other CEOs to discuss how taxes are going to be cut and business regulations will be curtailed if he is elected president, CNBC reports citing “people who attended the meeting.”
Brian Schwartz for CNBC:
CNBC spoke with people who attended the Business Roundtable’s quarterly meeting and others familiar with what took place there, all of whom were granted anonymity in order to speak freely about a private gathering.
Trump said… he will cut taxes, including income taxes, and bring back the same economic policies he enacted during his first term, according to people who were in the meeting. Trump said he wants to bring the federal corporate tax rate down from 21% to 20% if he were to become president, according to a person familiar with his remarks.
Trump spoke for about an hour at the meeting, said people in attendance. The audience included JPMorgan Chase CEO Jamie Dimon, Citigroup CEO Jane Fraser, and Bank of America CEO Brian Moynihan, according to spokespeople from their companies. Apple CEO Tim Cook was also there, said two people who were in the room.
“We need a president who is at the top of his game, and let’s face it, this president is not at the top of his game,” Trump said, according to a person who was in the room.
Trump told a meeting full of House Republicans earlier in the day about the idea of imposing an “all tariff policy” that he said would enable the U.S. to get rid of income tax, according to attendees who were granted anonymity to speak about a private meeting.
MacDailyNews Note: In China, the standard corporate tax rate is 25% with lower rates available for the certain sectors/industries meeting specific criteria. More info here. On average, European countries analyzed currently levy a corporate income tax rate of 21.3%. This is slightly below the worldwide average which, measured across 181 jurisdictions, was 23.45% in 2023. More info here.
https://macdailynews.com/2024/06/28/what-president-trump-told-apple-ceo-tim-cook-and-80-other-ceos-in-their-private-meeting/#google_vignette
Investors3
2 weeks ago
Apple looks for Chinese partner for Apple Intelligence
Friday, June 21, 2024 12:02 pm
No Comments
OpenAI’s ChatGPT and other Western AI models aren’t available in China, and that is prompting Apple to look for a Chinese partner to help offer its Apple Intelligence services, The Wall Street Journal reports citing “people in the industry.”
Raffaele Huang and Jiyoung Sohn for The Wall Street Journal:
Apple has held talks with several Chinese companies that make AI models including search-engine company Baidu, e-commerce leader Alibaba Group and a Beijing-based startup called Baichuan AI, people familiar with the matter said.
In China, companies must seek Beijing’s approval before introducing AI chatbots built on large language models trained with huge databases of text, images and video vacuumed up from the internet and other sources. Regulators vet the models to ensure they don’t influence public opinion in a way the government doesn’t approve.
As of March, Beijing’s internet watchdog, the Cyberspace Administration of China, had approved 117 generative AI products, none of which is foreign-developed.
Early this year, Apple explored the possibility of obtaining approval for a foreign large language model to be used in its devices in China, but it found that Chinese regulators were unlikely to approve it, people familiar with the matter said. That realization prompted Apple to step up talks with potential local partners, they said.
MacDailyNews Take: We assume Baidu, with its Ernie chatbot, would be the most logical choice.
https://macdailynews.com/2024/06/21/apple-looks-for-chinese-partner-for-apple-intelligence/
Investors3
2 weeks ago
Apple The Exchange TRX to welcome its first customers this Saturday, June 22, in Kuala Lumpur
June 19 2024 - 10:00PM
Business Wire
Apple’s first retail location in Malaysia will offer its full lineup of products and services, unparalleled support from over 160 team members, and sessions with local creatives
Apple® today previewed Apple The Exchange TRX, the first Apple Store® in Malaysia. Located in the heart of Kuala Lumpur’s new Tun Razak Exchange (TRX) central business district, the new store will deliver the magic of Apple in the country like never before. Customers can discover and buy Apple’s innovative lineup of products and services, receive exceptional service from knowledgeable team members, and learn how to get the most out of their devices through free Today at Apple® sessions.
“We live for moments when we can surprise and delight our customers, and we’re excited to do that in Malaysia with the opening of our first store in the country, Apple The Exchange TRX,” said Deirdre O’Brien, Apple’s senior vice president of Retail. “Being able to support and directly connect with a new community is always a special experience for our retail teams, and we can’t wait to welcome customers to this beautiful space designed for discovery, creativity, and shopping for the world’s most innovative products.”
At Apple The Exchange TRX, more than 160 team members are ready to help customers shop for their favorite Apple products — from the iPhone® 15 lineup to the MacBook Air® with M3 and the latest iPad® models, including the redesigned iPad Air® and incredibly thin iPad Pro® with M4.
Apple The Exchange TRX will be an inspiring hub for education, offering customers free in-store sessions through Today at Apple. Led by Apple Creatives, the events will empower attendees to tap into their creativity and learn how to get the most out of their devices, with topics ranging from basics and how-to lessons, to iPhone photo and video tours that take advantage of the beautiful store location.
To celebrate the opening, a special Today at Apple series, “Jom Discover,” will run from Saturday, June 22, through Saturday, July 6. Bringing together some of Malaysia’s most celebrated creators, the sessions will offer a glimpse into the creative process while showcasing Apple’s full range of products and services.
Sessions in the “Jom Discover” series include:
Performance: De Fam
Workshop: Capture Portraits on iPhone with Jason smashpop
Spotlight: Video Magic on Mac® with Adam Lobo
Workshop: Turn Ideas Into Action on iPad with Iman Azman
Spotlight: Live Well with Nana Mohd and Apple Watch®
Apple The Exchange TRX connects the mall’s central atrium to a lush rooftop park that wraps around the store’s upper level. Emitting a warm glow at night, the three-dimensional layered roof consists of horizontal glass panels and shading blades to reduce the sun’s rays. A central glazed oculus brings daylight into the interior and includes a dynamic artificial-lighting feature.
Inside the store, a sculptural quartz and glass staircase connects the three levels where customers can explore, learn, and shop. The Forum, home to Today at Apple programming, is located on a floating deck that joins up with the mall, while the upper level directly connects with the edge of the park, bringing daylight and greenery into the store through a continuous glass façade.
Like all Apple facilities, the Apple The Exchange TRX runs on 100 percent renewable energy and is carbon neutral. The store is designed with a refined palette of high-quality materials, including natural stone walls, polished stainless-steel columns, light terrazzo floors, and a timber ceiling.
Visitors are invited to explore the surrounding display tables and avenues, and shop the new iPad Air with M2, the iPhone 15 lineup, and the latest Apple Watch lineup — Apple’s first-ever carbon neutral products. Apple Specialists are excited to connect with the local community through personalized setup and support, switching to iOS, and Apple Trade In, where customers can get credit toward a new device by trading in their current one.
Just in time for back to school, students and families can save on a Mac or iPad with Apple Education Pricing available exclusively through Apple Retail. In-store or online, eligible customers can also take advantage of the university student offer running through September 30, and receive AirPods® when they buy an eligible Mac, or an Apple Pencil® when they buy an eligible iPad.
Apple The Exchange TRX also offers a dedicated Apple Pickup counter, making it even easier for customers to place an order online and pick up products when it’s most convenient for them. And for hands-on technical and hardware support, customers can make a reservation at the Genius Bar® and get help from an expert.
Apple The Exchange TRX opens Saturday, June 22, at 10 a.m. MYT. Customers are invited to check out curated content celebrating the essence of creativity in Malaysia across Apple TV+®, Apple Music®, and the App Store®, and sign up for upcoming Today at Apple sessions.
Apple revolutionized personal technology with the introduction of the Macintosh in 1984. Today, Apple leads the world in innovation with iPhone, iPad, Mac, AirPods, Apple Watch, and Apple Vision Pro. Apple’s six software platforms — iOS, iPadOS, macOS, watchOS, visionOS, and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay, iCloud, and Apple TV+. Apple’s more than 150,000 employees are dedicated to making the best products on earth and to leaving the world better than we found it.
NOTE TO EDITORS: For additional information visit Apple Newsroom (www.apple.com/newsroom), or email Apple’s Media Helpline at media.help@apple.com.
© 2024 Apple Inc. All rights reserved. Apple, the Apple logo, Apple Store, Today at Apple, iPhone, MacBook Air, iPad, iPad Air, iPad Pro, Mac, Apple Watch, AirPods, Apple Pencil, Genius Bar, Apple TV+, Apple Music, and App Store are trademarks of Apple. Other company and product names may be trademarks of their respective owners.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240619608123/en/
Neema Mungai
Apple
nmungai@apple.com
Brian Bumbery
Apple
bumbery@apple.com
https://ih.advfn.com/stock-market/NASDAQ/apple-AAPL/stock-news/94074015/apple-the-exchange-trx-to-welcome-its-first-custom
tw0122
2 weeks ago
Consider that only a small percentage of Americans are aware that they can file a complaint with the CFPB to seek resolution, and fewer still know where to go on the internet to do that. If hundreds of Americans have filed a complaint, it is highly likely that there are actually thousands of complaints that have not been filed. The CFPB knows that from experience.
It’s possible that the folks at Apple are unfamiliar with the century of abuses to customers by Goldman Sachs. Key milestones include the Goldman Sachs Trading Company’s conduct in the asset bubble of 1928. The Trading Company was a closed end fund (called a trust in those days) that Goldman Sachs created and offered to the public at $104 a share, stuffed with conflicted investments while paying Goldman a hefty management fee, only to end up a few years after the 1929 stock market crash trading at a little more than a dollar.
Then there were the 2010 Senate hearings where Goldman Sachs was shown to have been allowing hedge fund titan, John Paulson, to pick subprime debt likely to fail for one of Goldman’s securitized deals. Goldman sold the product to its customers as a good investment. Paulson made approximately $1 billion shorting the deal while those on the other side of the trade lost about $1 billion, while never being advised of the hedge fund manager’s role. According to the late U.S. Senator Carl Levin, Goldman was itself shorting (betting on subprime derivative products to fail) while actively promoting these products to clients. Comedian Jon Stewart started calling Goldman Sachs “those f*!*!ing guys” during this period.
Equally notable was the 2012 incident when Greg Smith, a VP at Goldman, tendered his resignation after 12 years with the firm on the OpEd pages of the New York Times. Smith lamented on “how callously people talk about ripping their clients off. Over the last 12 months I have seen five different managing directors refer to their own clients as ‘muppets,’ ” Smith wrote. The “muppets” characterization instantly went viral with comedic internet memes, like this catchy musical video written by former Wall Street veteran and law professor Frank Partnoy.
More recently, Goldman Sachs has upped its game to criminal felony charges leveled by the U.S. Department of Justice in the 1MDB bribery case. The Justice Department released this statement on October 22, 2020 in conjunction with bringing the charges against Goldman Sachs:
“Over a period of five years, Goldman Sachs participated in a sweeping international corruption scheme, conspiring to avail itself of more than $1.6 billion in bribes to multiple high-level government officials across several countries so that the company could reap hundreds of millions of dollars in fees, all to the detriment of the people of Malaysia and the reputation of American financial institutions operating abroad. Today’s resolution, which includes a criminal guilty plea by Goldman Sachs’ subsidiary in Malaysia, demonstrates that the department will hold accountable any institution that violates U.S. law anywhere in the world by unfairly tilting the scales through corrupt practices.”
The message here is simple, if you’re a company with a good reputation, you need to do a proper and thorough amount of due diligence before you align your name and reputation with another company.
tw0122
2 weeks ago
Hundreds of complaints filed with the Consumer Financial Protection Bureau (CFPB) by consumers using the Apple credit card that is provided by Goldman Sachs. The Apple credit card holders are alleging being put through a living hell by Goldman Sachs when fraudulent charges are made on their Apple credit card and a host of other problems.
In typical Goldman Sachs style, it has managed to earn the hostility of everyday consumers, airline pilots, and even a police officer with its handling of credit card complaints. Unfortunately for Apple, its name and reputation are being taking along for the ride – which raises the question, what marketing zombie at Apple didn’t see this coming when he decided to entangle Apple’s brand with “a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money,” as Matt Taibbi famously described Goldman Sachs at Rolling Stone.
The complaints at the CFPB aren’t helping the J.D. Power brand either. J.D. Power had announced in August of 2021 that the Apple credit card provided through Goldman Sachs had ranked number one in customer satisfaction in the midsize credit card segment. Goldman Sachs’ Chairman of Consumer Business, Harit Talwar, had gushed as follows about the award:
“Nothing energizes us more than the affirmation that we are providing a simple, transparent product that delivers value and that customers love. Creating this experience with Apple has been incredibly rewarding, and we are committed to continuing to deliver best-in-class service to our customers. It takes a village, and I am grateful to my colleagues at Goldman Sachs, the teams at Apple, and all of our partners who have helped us be No. 1 in customer satisfaction in the U.S. credit card industry.”
But in the very same month of August 2021, as Goldman was celebrating its J.D. Power award, egregious complaints were being filed with the CFPB. Here’s a sampling: (the redacted information has been done by the CFPB; typos are in the original):
A customer in California wrote this:
“This problem has been ongoing since XXXX, I have had to open multiple disputes through Apple credit card (goldman Sachs) and every time I open disputes, they ALWAYS favor the merchant ( XXXX ) There were multiple unauthorized purchases on my card through XXXX, XXXX helped with most of them besides one order that was {$1400.00}. My credit card issuer Goldman Sachs is saying that the dispute keeps favoring them no matter what evidence I give them. I really want to sue or something, I have no idea what to do now…” (Read the full complaint here.)
A customer in Massachusetts told the CFPB this:
“My 11 year old computer died and I went online to apple.com to buy a replacement one. Their site advertises that you can get an Apple credit card with 0 % APR for the first 12 months and pay off the computer. When I tried to redeem that offer, their Goldman Sachs website came back and extended a {$2500.00} credit limit, which does not cover the cost of a computer on their site. I called in to get the limit increased to {$3200.00} because I make {$320000.00} a year and have a XXXX credit rating. When I called in, their representative told me the only way to request a credit limit increase to cover the cost of the computer was to accept the credit card offer and open an account. So I did. He told me the next day I had to call back to request a credit increase. There was no other way to get an increase on the application. I have just done that, and despite making a high salary, having zero credit debt and having an excellent credit score, Goldman Sachs / Apple has denied the application and not giving me a reason…” (Read the full complaint here.)
A resident of Virginia wrote this:
“On XX/XX/21, an unknown charge for {$840.00} was Pending on my Apple Card (Goldman Sachs), I submitted a dispute the same day and was told that, because the charge was still ‘pending’, they would monitor the charge and if the charge posted, the dispute process would start with no further action from me. If the charge did not post, it would just drop off of my account. Since then, I have made dozens of calls and chat sessions with Apple Card Support about this charge that posted to my account on XX/XX/21. On this date, I received a ‘provisional credit’ and exactly one minute later, the provisional credit was reversed. After many phone calls, I finally learned that the dispute that I repeatedly called about had been ruled in the merchant ‘s favor because, they stated, I ‘withdrew my dispute’ — this is a complete falsehood…” (Read the full complaint here.)
The Apple credit card via Goldman Sachs was only launched three years ago in August of 2019. Goldman wrote the following at the time:
“Goldman Sachs is the issuer of the card and is responsible for underwriting, customer service, the underlying platform and all matters related to regulatory compliance through Goldman Sachs Bank USA.”
For the credit card to have generated hundreds of complaints in such a short span of time is remarkable and is apparently why Goldman Sachs is now being investigated by the CFPB.
Investors3
2 weeks ago
Apple supplier TDK says battery breakthrough can deliver higher performance for wearables
Monday, June 17, 2024 9:37 am
No Comments
Japanese electronic parts maker TDK on Monday said it had successfully developed a material for its solid-state batteries that can be utilized in various devices that come into direct contact with the human body. Some of the main features of TDK’s technology include the use of oxide-based solid electrolytes, which the company says makes them “extremely safe.”
TDK successfully developed a material for CeraCharge, a next-generation solid-state battery with an energy density of 1,000 Wh/L, approximately 100 times greater than the energy density of TDK’s conventional solid-state battery.
TDK’s technology is aimed at a solution that can be utilized in various wearable devices, such as wireless earphones, hearing aids and even smartwatches, with the goal of replacing existing coin cell batteries.
Utilizing TDK’s proprietary material technology, TDK has managed to develop a material for the new solid-state battery with a significantly higher energy density than TDK’s conventional mass-produced solid-state batteries (Type: CeraCharge) due to the use of oxide-based solid electrolyte and lithium alloy anodes. The use of oxide-based solid electrolyte makes batteries extremely safe. It is intended for use in wearable and other devices that come in direct contact with the human body.
The battery can be applied for replacing coin cell primary batteries in compliance with EU battery regulations, which require them to be replaced by rechargeable batteries, which is expected to contribute to the reduction of environmental impact.
TDK will strive to develop the battery cells and package structure design and advance toward mass production, targeting the development of its new product, the solid-state battery. Moreover, TDK aims to enhance the capacity of the batteries through multi-layer lamination technology and expand its operating temperature range by applying the production engineering technology TDK has accumulated in the electronic components business.
Main applications
• Various wearable devices such as wireless earphones, hearing aids and smartwatches
• Environmental sensors
• Replacement of coin cell batteries
Main features and benefits
• The use of oxide-based solid electrolyte makes battery extremely safe
• Smaller size and higher capacitance contribute to smaller device size and longer operating time
MacDailyNews Take: Potentially good news for Apple AirPods and Apple Watch users!
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Saturday, September 2, 2006
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https://macdailynews.com/2024/06/17/apple-supplier-tdk-says-battery-breakthrough-can-deliver-higher-performance-for-wearables/
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