Apple Stock News
For the latest Apple Stock News, AAPL closed at $157.10 per share on October 24th, 2017. It generated a gain of 0.60% from its previous close on October 23rd, 2017, when it closed at $156.17 per share.
The iPhone X will not be able to meet demand this holiday season. Production has been “severely delayed” because of several components that manufacturers were having trouble producing. These components mainly dealt with the facial recognition system known as FaceID which uses advanced algorithms based on artificial intelligence. The difference between this use of AI and previous uses is that they are powered by the phone’s A11 Bionic chip and not powered by the cloud, a very complex task.
According to expert analyst Ming-Chi Kuo of KGI Securities, “the worst is behind us” in terms of production problems. Despite this, Apple will still only be able to manufacture 20 million iPhone X units by the end of 2017. Its previously stated goal was 40 million units. This is a humongous miss.
To add to Apple’s recent woes, due to super low interest in the iPhone 8 and 8 Plus, production is being halved. This is after less than one month in the market.
Other News
On the positive side, Apple Pay, where an iPhone is used as a proxy for a card or cash, has just finished entering its 20th market. These markets encompass 70% of the world’s card transaction volume. Apple Pay is also used for 90% of all mobile contactless transactions where active, a category that is increasingly growing. The wallet can now also work with 4,000 card issuers.
Apple COO Jeff Williams recently spoke about the future opportunity in healthcare. This opportunity will mainly be brought about through advances in hardware and AI. It is known that Apple has long been eyeing the healthcare space as one ripe for disruption. They are currently working on several R&D initiatives in the area and are examining a push into primary care to improve the process of care delivery.
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