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AAPL Up Before WWDC
Stocks are falling after morning highs on Spain’s bank bailout. Shares of AAPL are up ahead of today’s Worldwide Developer Conference (WWDC). Investors remain focused on iPhone penetration globally and the anticipated launch of the next generation in the fall; iPad adoption; market share growth of the Mac business as well as the upcoming refresh; the introduction of the anticipated Apple TV set; and platforms such as Siri, iAd and iBooks. Shares of Apple trade at 9.2x Enterprise Value / Trailing Twelve Months Free Cash Flow (including long-term marketable securities).
JOIN US TODAY FOR LIVE COVERAGE OF APPLE’S WWDC (Business Insider)
Apple’s developer conference (WWDC) starts today. Tim Cook and other executives will take the stage at 1pm ET. Join us for live coverage of the event and related news flow.
iWallet Could revolutionise Personal Banking (Cult Of Mac)
Apple is uniquely positioned when it comes to mobile payments. It designs and manufactures the iPhone, it creates and updates iOS, it already has an electronic payment system that it uses across its various online stores (iTunes, iBooks, and the Mac and iOS App Stores), and the company has been reinventing retail and payment technologies in its stores around the world. The only things Apple is really lacking is support from merchant point of sale systems and broader access to your finances to facilitate choosing an account for payments. So the idea of Apple as a bank isn’t as far-fetched as it may sound.
Apple Is Growing Like Gang Busters In Europe (FactSet via Business Insider)
According to data compiled by FactSet, Apple’s second calendar quarter revenue in Europe is expected to surge 32.3% year-over-year. The fact that Apple is growing so strongly in Europe, where governments are drowning in debt and the population is struggling with historically high unemployment, is a bit surprising. Of the 10 largest companies offering a geographic break down of sales, Apple is just one of three reporting notable growth. The runner up is Intel climbing just 4.5%.
Meet Phil Schiller, The Guy That Can Keep Apple Cool (Bloomberg Businessweek)
Hinting at the trillion dollar question, can Apple become one of the world’s first trillion dollar companies without its visionary leader, Bloomberg Businessweek does a great profile on Phil Schiller, Apple’s senior vice president of product marketing. He helped Steve Jobs work through the meat-and-potatoes of creating new products: Defining target markets, determining technical specs, setting prices. “Because Phil’s title is marketing, people believe he’s focused on what’s on the billboards,” says Gene Munster, an analyst with Piper Jaffray. “He’s much more important than people give him credit for.” Internally, Apple employees call him “mini me” because he managed to “consistently” channel Steve Jobs.
Will Apple Release An SDK For Apple TV Apps? (BGR)
BGR has heard from a source that Apple will be introducing a TV SDK at WWDC this week. This would enable third-party developers to create software for Apple’s TV products. This is in addition to a new control API that will allow other entertainment devices in the living room to use the same remote as the Apple TV, and even connect through it. We’ll have to see, but it makes perfect sense. If Apple will eventually launch the much rumoured HDTV, they’ll want to have apps to run on it. An SDK paves the way without showing too many cards.
Tablet Usage Hits Critical Mass (comScore via VentureBeat)
Just under 24% of smartphone owners in the U.S. used tablets during a three-month period ending in April, according to comScore. The figure jumped nearly 14-percentage-points year over year, and is especially impressive considering that comScore didn’t count single purpose e-readers as tablets. The data, which points to tablets hitting critical mass, should come as no surprise. Gartner predicted earlier in the year that tablet sales would balloon to 118.9 million units this year, 182.4 million units in 2013, and 369.2 million units in 2016.