Tag: Apple Inc

As Smartphone Industry Sputters, the iPhone Expands Its Dominance

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There’s a general rule about consumer electronics: The older a device becomes, the more competitors appear and prices fall. This was true for televisions, personal computers and portable music players. It was supposed to happen with smartphones. But the iPhone has defied gravity. On Tuesday, Apple will unveil the 17th iteration of its flagship product. Remarkably, at an age in which most consumer devices have lost some of their appeal to users, Apple has increased its share of smartphone sales over less expensive rivals. Over the past five years, the…

Apple’s Stock Falls on Reports of a Chinese Government iPhone Ban

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Apple’s China conundrum Shares in Apple, the world’s most valuable public company, suffered their biggest single-day fall in a month on Wednesday following a report that China would extend a ban on iPhones for government workers. Any hint that the company’s business in China is under threat would understandably give investors a fright, and its shares are down another 3 percent in premarket trading Thursday morning. But the ripples will be felt more broadly: If one of the most successful operators in the world’s second-largest economy is at risk, can…

Interest Rate Jitters Sink the Giants of Tech

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Market whiplash In the span of a month, the bottom has dropped out of the bull-market rally as investors have come to grips with the prospect of “higher for longer” interest rates worldwide. The sell-off in global stocks and bonds picked up steam on Thursday. And weary market watchers will be looking for more hints on the Fed’s view at next week’s Jackson Hole summit of central bankers and policymakers. Technology stocks have been hit particularly hard. The high-flying FANG+ Index — which comprises the largest tech stocks by market…

The Chip Titan Whose Life’s Work Is at the Center of a Tech Cold War

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In a wood-paneled office overlooking Taipei and the jungle-covered mountains that surround the Taiwanese capital, Morris Chang recently pulled out an old book stamped with technicolor patterns. It was titled “Introduction to VLSI Systems,” a graduate-level textbook describing the intricacies of computer chip design. Mr. Chang, 92, held it up with reverence. “I want to show you the date of this book, 1980,” he said. The timing was important, he added, as it was “the earliest piece” in a puzzle that came together for him — altering not only his…

Senator Calls on Apple and Google to Ban TikTok in App Stores

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Senator Michael Bennet, Democrat of Colorado, called on Apple and Google Thursday to remove TikTok from their app stores because of national security concerns, as bipartisan pressure on the Chinese-owned company escalates. Mr. Bennet, a member of the Senate Intelligence Committee, sent the chief executives of Apple and Alphabet, Google’s parent company, a letter saying no company subject to “Chinese Communist Party dictates should have the power to accumulate such extensive data on the American people or curate content to nearly a third of our population.” TikTok, which is owned…

Why China’s Shrinking Population Is Cause for Alarm

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New data released this week by the Chinese government revealed that China’s population has begun to shrink, a momentous shift that will have broad ripple effects both domestically and globally. The government said on Tuesday that deaths last year in China had outnumbered births for the first time in decades. This could spell the end of China’s position as the world’s most populous country, a transition that could profoundly reshape the global economy in the long run. India’s total population is expected to surpass China’s later this year, according to…

The Numbers in the News

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Numbers that count 2 Two major central banks — the Bank of Japan and the People’s Bank of China — were the only ones not to raise interest rates this year, as inflation threatened economic growth and sapped consumer purchasing power. Central banks have collectively increased rates by more than 70 percent in 2022, according to LPL Financial, with the same goal: raise borrowing costs to cool rising prices that have been hitting shoppers from London to Poughkeepsie. Many were following the Fed, which increased its prime lending rate to…

Elon’s Two-Day War with Apple + How to Beat an A.I. Censor + S.B.F.’s ‘Bad Month’

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Listen and follow ‘Hard Fork’Apple | Spotify | Stitcher | Amazon | Google Elon Musk accuses Apple of trying to sabotage Twitter. But after his visit with Apple’s C.E.O., Tim Cook, things are … good? Then, the New York Times reporter Paul Mozur on the tactics Chinese protesters are deploying to avoid the most sophisticated censorship apparatus in the world. Plus: S.B.F. says it’s been a “bad month.” Credits “Hard Fork” is hosted by Kevin Roose and Casey Newton and produced by Davis Land. The show is edited by Paula…

Elon Musk Takes on Apple and Its App Store

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Leon Black is accused of raping a woman at Jeffrey Epstein’s home in 2002. Cheri Pierson sued Black, the former Apollo Global Management C.E.O., becoming the second woman to publicly accuse him of sexual assault. A lawyer for Mr. Black denied Pierson’s claims and called them an extortion attempt. Bob Iger commits to reining in expenses at Disney. At his first companywide meeting on Monday, the recently rehired Disney C.E.O. said that he would keep a hiring freeze in place and that Disney+ would focus on turning a profit over…

Zero-Covid Protests in China Shake Global Markets

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Crypto investors see trouble ahead Crypto asset prices sank again on Monday even as Binance, the industry’s biggest exchange, tried to restore investor trust by pushing for greater transparency across its exchange following the collapse of its rival, FTX, earlier this month. How bad could it get? Mark Mobius, a co-founder of Mobius Capital Partners, told Bloomberg this morning that his new price target for Bitcoin is $10,000, implying a further drop of nearly 40 percent. Binance sought to calm investor nerves. This weekend, Changpeng Zhao, its founder, said that…