U.S. Stock Futures Flat; Apple Set to Pressure Techs (Nasdaq)
U.S. stock market futures pointed to a largely flat opening for Wall Street on Wednesday, with investors pausing after what has been a strong recent run for equities, though Apple Inc. (NASDAQ:AAPL) is set to weigh on technology stocks. Also, investors could see the biggest corporate-bond deal in history from Verizon Communications Inc. (NYSE:VZ) later in the day. Futures for the Dow Jones Industrial Average rose 8 points to 15181, while those for the S&P 500 index eased 0.6 point to 1681.80. Nadsaq 100 index futures fell 6 points to 3175.75, with pressure seen from Apple (AAPL) after the company lifted the wraps on two new iPhones. Shares fell nearly 2% in thin premarket trading, continuing a decline from late Tuesday amid analyst concerns the company has priced the low-end iPhone 5C too high to appeal to emerging markets.
In world’s biggest market, Apple’s ‘cheap’ iPhone looks too pricey (TheGlobeAndMail)
The world’s biggest public company and the world’s biggest country are at loggerheads over the price of a phone. Apple Inc.’s new plastic-backed iPhone 5C will sell for 4,488 yuan ($730 U.S.) China, almost $200 more than the United States retail price of $549 and only 800 yuan ($130) less than its top-of-the-line sibling, the 5S. The pricing of what was expected to be a cheap model aimed at growth markets such as China and India has not only stumped investors, but also Apple aficionados in China, a country of 1.4 billion people and the world’s largest smartphone market.
Apple Secures License For iPhone To Run On China Mobile’s Network Standard (TechCrunch)
Apple Inc. (NASDAQ:AAPL) has secured the final government license needed to run the iPhone on China Mobile Ltd. (ADR) (NYSE:CHL)’s proprietary wireless network. After years of negotiations, this is the latest of several recent signs that Apple may finally be able to release its smartphone through China’s largest carrier. We reported yesterday that cellular device specifications for the iPhone 5C and 5S models also point to variations for both devices that support TD-LTE, the variety of LTE that China Mobile uses. The license was granted by China’s Telecom Equipment Certification Center, which is overseen by the Ministry of Industry and Information Technology (MIIT)…
ARM Holdings Gains on Apple IPhone Royalty Boost: London Mover (BusinessWeek)
ARM Holdings plc (ADR) (NASDAQ:ARMH), the chip designer whose products power Apple Inc. (NASDAQ:AAPL)’s new iPhones, rose to the highest in more than three months on predictions it will amass increased royalties from the use of its latest technology. The shares advanced as much as 6.1 percent and were up 4.6 percent at 984.5 pence at 10:21 a.m. in London, the highest price since May 31 and the biggest intraday gain since July 24. The stock was the biggest gainer in the FTSE All-Share Index (ASX), adding more than 600 million pounds ($847 million) to ARM Holdings plc (ADR) (NASDAQ:ARMH)’s market capitalization.
Apple’s New IPhone: One Thumb Up (Bloomberg)
Apple Inc. (AAPL)’s latest media carnival made clear that the company still has a capacity for spectacle, self-congratulation and, in the end, no small bit of innovation. Amid a multimedia onslaught, including an Elvis Costello performance, the company unveiled the new iPhone 5S, complete with its piece de resistance: Touch ID, a fingerprint sensor that can supplant your password and be used to make purchases from Apple Inc. (NASDAQ:AAPL)’s various stores. Even if it flops, Touch ID can still serve a useful purpose. Biometric devices are only going to become more pervasive, forcing consumers to confront a host of legal, moral and practical challenges. Better to start thinking through these issues now, while the technology is still in the gee-whiz phase, than when your bank, employer or (not least) government starts asking for a print.