Wells Fargo Stories January 28, 2016

[Update: Chase confirmed to the USA Today this week that it is planning NFC-based ATM withdrawals later this year.]

According to a report out of TechCrunch, Bank of America and Wells Fargo are both working to integrate Apple Pay support into their ATMs. The report, citing “a source familiar with the terms on the projects,” says that the companies have both placed employees on multi-month long assignments to integrate the Apple Pay options into ATMs around the country.

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Wells Fargo Stories September 8, 2014

Spotify app to offer 30 mins of ad-free listening if you watch a 15-30 second video ad first

Spotify currently offers you a choice: pay ten bucks a month to listen without ads, or listen for free but have your music interrupted by audio ads. Those using the iOS or Android app will be offered a third option later this year: watch a 15-30 second video ad in return for 30 minutes of ad-free listening.

Known as Sponsored Sessions, the idea is that advertisers get the ability to run video ads for the first time, while the experience is made relatively painless for consumers by guaranteeing 30 minutes of uninterrupted listening afterwards.

Spotify began pitching the option to advertisers back in June, and Ad Age reports that a number of major advertisers have now signed-up.

Spotify will start testing the video ads in the fourth quarter with a limited number of brands and plans to extend them to all advertisers in the first quarter of 2015.

Coca-Cola, Ford, McDonald’s and Universal Pictures have signed on as the ads’ first global buyers. Kraft Foods, Target and Wells Fargo will be the U.S.-only launch advertisers.

The Spotify app is a free download from the App Store.

Via Engadget

Wells Fargo Stories July 7, 2014

Yep, it’s that time of the quarter again, when we start hearing analyst predictions for Apple’s quarterly earnings. Asymco analyst Horace Dediu has just tweeted his, forecasting that Apple will hit $38.62B revenue, above the company’s guidance of $36-38M. Wells Fargo’s Maynard Um recently predicted $38.2B …  expand full story

Wells Fargo Stories January 2, 2014

Wells Fargo downgrades AAPL based on gross margin concerns

Well Fargo has downgraded AAPL stock from ‘outperform’ to ‘market perform,’ citing the fact that the company’s gross margins have typically fallen 2.25 percent in the two quarters following the launch of a brand new iPhone model (rather than an S upgrade).

Our bullish thesis on Apple had been predicated on the expectation for gross margin (GM) expansion driven by the 5s cycle. While we still have conviction in the gross margin thesis (and the potential for iPad/iPhone unit upside), we believe this may be largely embedded into the valuation.

The bank has not changed its valuation range of $536 to $581, though is presumably now expecting something toward the lower end of the range.

Wells Fargo’s Maynard Um said that he also believed the balance of power may be shifting away from Apple to the carriers as they shift away from subsidized deals (read: disguised loans) to higher up-front costs and/or separate phone financing.

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