finance Stories June 22, 2015

apple-bank

I first speculated that Apple might one day become a bank almost a year before the launch of Apple Pay. What triggered that thought was the use of Touch ID for iTunes purchases and the depth of security involved in the secure enclave used by Apple’s fingerprint system. It was clear even then that Apple had big ambitions in the mobile payment field.

Now that Apple Pay has launched, and already proven a big success, I think the argument for Apple to make the move are even stronger. So here are seven reasons I think Apple may become a bank within the next five years …  expand full story

finance Stories May 6, 2015

apple-cash1

At its last earnings call, Apple announced that it is expanding its capital return program by more than 50%. This means the company is now looking to repurchase over $140 billion worth of shares and a larger dividend for shareholders.

To fund this activity however, it is cheaper for the company to sell domestic company debt than repatriate its ever-increasing cash hoard that is ‘trapped’ overseas. Therefore, Apple has today announced it will issue a new 7-part bond to raise the funds.

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finance Stories April 29, 2015

Apple's European HQ in Cork, Ireland

<a href="http://www.businessinsider.com/r-irish-tax-changes-may-cost-us-groups-billions-2014-10">Apple’s European HQ in Cork, Ireland</a>

Following its announcement of record Q2 earnings, Apple published its quarterly 10-Q report, providing more in-depth details about finances. Notably, the company warns of the possibility of “material” back taxes due to the company’s well-documented favorable tax arrangements with Ireland.

On June 11, 2014, the European Commission issued an opening decision initiating a formal investigation against Ireland for alleged state aid to the Company. The opening decision concerns the allocation of profits for taxation purposes of the Irish branches of two subsidiaries of the Company. The Company believes the European Commission’s assertions are without merit. If the European Commission were to conclude against Ireland, the European Commission could require Ireland to recover from the Company past taxes covering a period of up to 10 years reflective of the disallowed state aid. While such amount could be material, as of March 28, 2015 the Company is unable to estimate the impact.

Apple will need to pay the fines if the European Commission, which is akin to the U.S.’s SEC, rules that Ireland granted Apple special privileges for reduced taxes. As the European Commission has not made any formal rulings on the fine, Apple says it could not estimate the impact. However, the Financial Times pegs the potential payments at $2.5 billion based on Apple’s current rate of profits.

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finance Stories March 6, 2015

AAPL March 6th

Apple will be joining the Dow Jones Industrial Average taking wireless carrier AT&T’s spot on the famed stock market index, CNBC reports. The change will take place in just under two weeks at the end of trading on March 18th. The Dow is heavily viewed as being indicative of the overall stock market performance in the United States, and Apple’s rising stock price will soon be a significant factor to that number.

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finance Stories March 3, 2015

Intuit’s Mint app adds new bill reminder features, accessibility improvements, more

The popular Intuit-owned Mint finance management app updated to version 4.1 today adding new bill reminder features, more accessibility support, and general improvements all around.

Highlighted in the new version is the ability to manage bill reminders right from the app. For the iPhone version, bill reminders can be created, edited, and managed from the latest version of the app. A change to the Overview tab wraps all this together.

Mint has also enhanced the newly added Updates view to show upcoming bill due dates. The new Upcoming Bills Card will present any bills with a due date within the next seven days.

In terms of accessibility, Mint has added support in a number of areas of the app. This includes the login, signup, split transactions and transaction detail pages.

Mint 4.1 for iPhone and iPad is available for free on the App Store.

finance Stories February 3, 2015

Tim-IBM

Apple is looking to hire individuals across the US for a team of IBM Business Development Executives that “will be accountable for all aspects of the Apple and IBM partnership for a defined geographic and account set territory.” That means Apple is hiring a team of individuals that will act as company liaisons to help roll out and oversee sales teams pushing the new Apple/IBM iOS solutions to enterprise customers. The positions, which are industry and region-specific, also show Apple’s plan for the upcoming expansion of its enterprise solutions for new industries including manufacturing and healthcare.  expand full story

finance Stories November 20, 2014

Intuit’s Mint iPhone app updated with faster personal finance tracking including fees, alerts, more

Users of Intuit’s Mint Personal Finance app for iPhone will be seeing a workflow speed boost with the latest version. Finance data like recent transactions and used accounts, fee and high spending alerts, and budget information is now available for tracking faster in an added Updates section. You can see an example of the new view in the screenshot above.

The newly added Updates section follows previously added features including the ability to track your credit score for free without having to add a credit card as well as support for unlocking the app with your fingerprint using Touch ID for iOS 8 users with iPhone 5s, iPhone 6, and iPhone 6 Plus.

Intuit also released a redesigned Quicken 2015 for Mac earlier this year including sync support for the Quicken Money Management app for iPhone. You can view the latest change log for Mint below:

finance Stories August 21, 2014

Quicken 2015

Intuit is out today with a new version of its personal finance app with the release of Quicken 2015 for Mac. The latest version of Quicken boasts an overhauled design to simplify the app as well as “new investment capabilities”, Intuit says. The new Mac version is accompanied by a sync compatible, updated Quicken Money Management app for iPhone which supports snapping and saving receipts as well as displaying charts on-the-go…

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finance Stories July 30, 2014

Yahoo Finance updated with new design, pre- and after-market data, news section, more

Yahoo has released a new version of its Finance app for iPhone and iPad featuring the addition of a new tab bar for quicker navigation and other visual changes. The update still features the basement view on the left as well as the search view for adding stocks to your watch list on the right, but the overall app is organized much cleaner now.

The new tab bar consists of the primary Home view for information related to stocks you’re tracking, a new News tab for following general finance news and information, and a Markets view for an overview of U.S., Europe, and Asia finance data.

The updated version of Yahoo Finance also adds support for viewing pre-market and after-market data for items on your watch list. Yahoo Finance 2.2 for iPhone and iPad is available on the App Store.

finance Stories April 23, 2013

Just off the wires, Apple is more than doubling its capital returns citing its inability to stop making more money than it can spend to “operate the business, invest in our future, and maintain flexibility to take advantage of strategic opportunities.”

As part of this program, Apple’s board has increased its share repurchase authorization to $60 billion from the $10 billion level announced last year. This is the largest single share repurchase authorization in history and is expected to be executed by the end of calendar 2015. Apple also expects to utilize about $1 billion annually to net-share-settle vesting restricted stock units.

More details in the press release that follows: expand full story

finance Stories April 22, 2013

Check-iphone-4-settlement.

Payday has come for some of the first responders to the iPhone 4 class action lawsuit.  Last February a settlement was reached that granted iPhone 4 owners who had not previously received a free bumper for their “defective” iPhones a $15 payout.  Several of our readers are now reporting that they received their settlement checks today.  The first checks were issued on April 17 2013 and are void after July 16th.  Unfortunately the deadline for submitting a claim has passed so if you missed out the first time around it seems you are out of luck.

In case you forgot, the settlement found:

Apple was “misrepresenting and concealing material information in the marketing, advertising, sale, and servicing of its iPhone 4–particularly as it relates to the quality of the mobile phone antenna and reception and related software.”

Apple paid out a total of $53 million in the settlement, which was lawyers took a hefty $16M chunk.

http://twitter.com/bradkellyfilms/status/326481430584627200/

finance Stories February 28, 2012

Update: AAPL closed at 535.41 but is at 536.37 pushing its market cap over $500B

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Some folks noticed that shares of Apple, Inc. surged yesterday morning amid favorable market conditions. Today’s announcement of the March 7 iPad 3 unveiling has managed to push the Cupertino, Calif.-headquartered designer of shiny electronics to a new lifetime high. The Apple stock, which trades on NASDAQ under the AAPL symbol, was up nearly nine points, or more than 1.5-percent, in early afternoon trading.

Valued at $534.08 a share, the company was just shy of $500 billion in market valuation at the time of this writing. Wow, just wow. Talk about the iPad effect.

That is still below Microsoft’s $583 billion valuation from 1999, but the iPhone maker’s getting closer and closer with each passing day. AAPL first crossed the $500 a share milestone the day before Valentine’s Day. Earlier on Feb. 9, 2012, shares of Apple, Inc. passed 10 percent of all of NASDAQ value and traded at $431 a share. In addition, right following Valentine’s Day, Apple first passed the psychological $500 a share barrier. For comparison’s sake, AAPL on Steve Jobs’ Oct. 5, 2011 passing traded at $378.25.

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finance Stories February 13, 2012

AAPL crosses $500 per share for the first time, now worth more than twice its smartphone rivals combined

Shares of California-based Apple broke a new record today. Image via Chronic Shares of Apple, Inc. hit a new high this morning. Just as you thought passing 10 percent of all of NASDAQ value was too good to be true, shares of Apple continue to rise and challenge the most intrepid analyst out there. Blame […]

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