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Apple, Inc. (NAS:AAPL)

Zacks Rank: 1 (Strong Buy) [?]

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Apple, Inc. engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other variety of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America. The Europe segment consists of European countries, as well as India, the Middle East, and Africa. The Greater China segment comprises of China, Hong Kong, and Taiwan. The Rest of Asia Pacific segment includes Australia and Asian countries. Its products and services include iPhone, Mac, iPad, AirPods, Apple TV, Apple Watch, Beats products, Apple Care, iCloud, digital content stores, streaming, and licensing services. The company was founded by Steven Paul Jobs, Ronald Gerald Wayne, and Stephen G. Wozniak on April 1, 1976 and is headquartered in Cupertino, CA.

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WeChat ban: Apple’s iPhone shipments may fall 30% in China

Source: Sify.com

Beijing, Aug 11 (IANS) US President Donald Trumps executive order to ban the popular messaging app WeChat from the Apple App Store could lead to 25-30 per cent drop in iPhone shipments in the Chinese market, famed analyst Ming-Chi Kuo has predicted. The Apple analyst also estimated that the annual shipments of other Apple hardware devices, including AirPods, iPad, Apple Watch and Mac, will be revised down by 15–25 percent, reports MacRumors. “Because WeChat has become a daily necessity in China, integrating functions such as messaging, payment, e-commerce, social networking, news reading, and productivity, if this is the case, we believe that Apple’s hardware product shipments in the Chinese market will decline significantly,” Kuo was quoted as saying. If the US government forces Apple to remove WeChat only from the US App Store, global iPhone shipments would decline between three and 6 per cent. China, with its population of 1.44 billion people, accounted for about 15 per cent of Apple’s total June quarter revenue.

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Three Percent Of The Fed’s Corporate Bond Holdings Are Junk Rated

Source: Zero Hedge

Three Percent Of The Fed’s Corporate Bond Holdings Are Junk Rated Tyler Durden Mon, 08/10/2020 – [22:30] It is only appropriate that on the day Ball Corporation sold a bond with the lowest “high” yield ever for a junk bond, at 2.875%… … that the Fed would publish its latest corporate bond purchase data , in which we find that as of July 31, some 3% of the corporate bonds purchased by the Fed in its SMCCF facility, and 2.8% of corporate bond purchased via the Fed’s SMCCF broad market index were junk, or BB, rated (technically, some BB credits are likely IG, but for the sake of simplicity we will “round down” and assume all BBs are sub-investment grade). Some other notable facts: as of last Monday, the Fed owned 916 CUSIPs outright, with a par value of $3.349BN, which include among others bonds issued by Berkshire Hathaway, foreign automakers such as Toyota, Nissan, Daimler, BMW and Hyundai; US giants such as Walmart, General Motors, General Electric, Visa, Microsoft, McDonalds, Novartis and Pfizer; REITs such as Simon Property, Duke Realty, National Retail Properties; Energy companies such as Exxon, Spectra Energy, Sempra Energy, Sabine Pass, Phillips 66, Kinder Morgan; non-ESG names such as Philip Morris and J&J and, of course, Apple.

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