iPhone X: Apple nears $1 trillion market cap

Apple’s bid to become a $1 trillion company starts this week

Apple Inc’s shares rose to a record high on Friday as more analysts set a trillion-dollar valuation on the company, following a blowout fourth quarter and an upbeat forecast that quashed investor concerns around the iPhone X.

The stock rose as much as 3.7 percent to $174.26, briefly breaching $900 billion in market value, amid declines in the broader market. The gains added nearly $32 billion to the company’s market capitalization.

The Cupertino, California-based company also forecast a strong holiday quarter ahead, which will include the iPhone X that started selling on Nov. 3.

“We see iPhone X unlocking pent-up iPhone upgrades, especially in China, driving more than 20 percent iPhone unit growth and a revenue and earnings beat in 2018,” analyst Katy Huberty on Morgan Stanley said.

The glass-and-steel $999 phone appeared to have brought back the frenzy associated with iPhone launches – long lines formed outside Apple stores across the world as fans flocked to buy the new phone.

The company will make 30 million iPhone X units during the current quarter, Nomura Instinet analysts estimated, allaying production worries related to the phone.

IPhone X’s launch follows weeks of concerns among analysts about the production of the phone, which for the first time includes new facial identification software to replace the fingerprint used on previous phones.

The Apple Inc. store is seen on the day of the new iPhone 7 smartphone launch in Los Angeles, California, U.S., September 16, 2016. REUTERS/Lucy Nicholson

Apple said on Thursday it expects first-quarter revenue of $84 billion to $87 billion, at the high end of analysts’ average expectation of $84.18 billion, according to Thomson Reuters I/B/E/S.

“We – and many others – had feared that guidance could be weaker, reflecting only 9 weeks of the flagship iPhone X and limitations on supply,” Bernstein analyst Toni Sacconaghi said.

At least 13 brokerages raised their price targets on the stock, with Citigroup making the most bullish move by raising its price target by $30 to $200.

Of the 37 analysts that track the stock, as per Thomson Reuters data, 31 had a “buy”, or higher rating. None had a “sell”.

With the latest brokerage actions, at least nine Wall Street analysts now have target prices that put Apple’s market value above $1 trillion. Drexel Hamilton’s Brian White is still the most bullish among Apple analysts tracked by Thomson Reuters, raising his target price further to $235.

Apple’s fourth-quarter results underscored the company’s ability to drive growth not just on iPhones, but across its range of products, analysts said.

The company’s suite now includes five different iPhone models, the iPad, the Mac and the Apple Watch as well as its fast-growing services.

Apple said it sold 46.7 million iPhones in the fourth quarter ended Sept. 30, above analysts’ estimates of 46.4 million, according to financial data and analytics firm FactSet. Mac and iPad sales too were above the estimates of most analysts.

Ride-hailing accelerates

The popularity of ride-hailing apps Uber and Pathao that brought in convenience in commuting within Dhaka is tempting other local and international players into the field and compelling the existing ones to expand their services.

For instance, a new player Ezzyr is set to hit the Dhaka roads this month, said Kamrul Hassan Imon, a director of Innovadeus Pvt Ltd, the app’s parent company.

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Source: thedailystar.net

Bitcoin is surging again, and it’s about to get crazier

Bitcoin is on an amazing bull run. The cryptocurrency easily surpassed $5,000 per coin and is currently trading at about $5,500—and many are wondering why.

The cryptocurrency’s main issues haven’t been resolved. Despite the recent upgrade, it’s still too slow to be a dependable payment platform, and the people running the show remain sharply divided over how Bitcoin should move forward.

Furthermore, recent news that China is shutting down ICOs and crypto exchanges (and threats from many other jurisdictions to do something similar) put a lot of downward pressure on Bitcoin’s price.

And yet, the price of Bitcoin nearly doubled since it briefly went below $3,000 on Sept. 14.

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Source: mashable.com

 

China’s Internet is in Lockdown

  • The ideological war playing out on China’s internet
  • New internet restrictions target individual users in a way never before seen
  • People can be prosecuted for failing to censor what their friends say in group chats

Hong Kong (CNN) As China’s leaders gather in Beijing this week for the 19th National Congress of the Chinese Communist Party (CCP), an ideological war is under way on the country’s internet.

Some experts predict President Xi Jinping will use the meeting to establish a level of control and influence over the Party not seen since Mao Zedong, the strongman founder of the People’s Republic.
While the internet has always been a key battleground for the Party, the past 12 months have seen a marked increase in censorship, with new laws and regulations targeting online expression even in areas or on certain topics where dissent was once tolerated or passed undetected.
Since he came to power in 2011, Xi has sought to reshape the country in his image, advancing a new ideology to replace the waning relevance of Communism and Mao Zedong Thought in a country where state capitalism and an all-encompassing focus on making money is the norm.
“Unlike any other Chinese leader since the reform era, (President) Xi Jinping has worked on forging a uniquely Chinese national narrative,” write the authors of a new study by the Mercator Institute for China Studies (MERICS).
At the same time, the Party has “taken drastic measures to suppress ideas it considers hostile.” Read full story…
Source: CNN

Mobile app of Youth Opportunities launched

State Minister for ICT Division Zunaid Ahmed Palak launched the mobile application of Youth Opportunities, a youth startup that has presence in more than 200 countries, on Wednesday, April 25, 2017, at the Software Technology Park at Janata Tower in Dhaka’s Karwan Bazar, according to a release.

“With the vision of building Digital Bangladesh, ICT Division is supporting initiatives such as Youth Opportunities to empower Bangladeshi youth to innovate new digital products and services,” Palak said.

“This is a very proud moment because Youth Opportunities , a Bangladeshi startup, has been serving not just the Bangladeshi youths but millions of youths from across the world and promoting free and equal access to all. And this mobile application would play a significant role engaging them more.” the state minister added.

Co-founders of Youth Opportunities Osama Bin Noor and Makshudul AM Manik shared at the beginning of the programme that Youth Opportunities, accessible at www.youthop.com, is the largest global opportunity discovery platform for young people across the world.

“Youth Opportunities is working to ensure equal and easy access to different opportunities to Bangladeshi and global youths for free,” Osama said.

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Source: thedailystar.net

Dubai police test out hovering motorbikes to join future patrol fleet

Dubai police are testing out futuristic hovering motorbikes which they hope will one day from part of its hi-tech patrol fleet.

Not content with Ferrari and Lamborghini supercars, the tech-savvy force are now looking to invest in innovative new ways of fighting crime and protect the public.

The hoverbike concept, developed by Russian company Hoversurf, was unveiled at Dubai’s Gitex Technology week.

The bike “passed successful tests in extreme conditions – dust and heat” said its manufacturers, who released a YouTube video of it in action.

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Source: telegraph.co.uk