Apple Stock News: Moody’s Elevated Apple’s Bond to Top Rating
Apple Stock News: Moody’s Investors Service upgraded Apple Inc.’s long-term credit rating to Aaa which is the highest possible credit score in the US market. Moody’s analyst Raj Joshi stated that “The upgrade of Apple’s rating to Aaa reflects the company’s exceptional liquidity, robust earnings that we expect will continue to grow over the next 2 to 3 years, and its very strong business profile,”
Moody’s said, “Apple’s financial policy of transitioning into a net cash neutral position “overtime” and its capital allocations since U.S. tax reform mean it will “maintain an exceptionally strong liquidity profile over the next 3 to 5 years.”
According to Bloomberg, It’s also on track for what both the company and analysts forecast will be Apple’s most lucrative quarter to date, with first-quarter 2022 revenue likely to be around $118 billion. That’s not as strong as it could have been, however, with Apple saying revenue will be impacted by at least $6 billion on chip-related supply shortages. Whereas investors appear optimistic about the company’s long-term prospects. Several Apple bonds trade at a lower yield than U.S. Treasuries with the same maturity, an indication that investors see little to no credit risk with the company’s debt.
India will Begin iPhone 13 Mass Production in February
According to MacRumors, Apple will see flagship iPhone 13 production begin in India early next year, courtesy of Foxconn’s factory in Chennai. The mass production will start in February, and the Foxconn plant is planned to supply the local domestic market also with the oversees demand, around 20-30% of iPhones production earmarked for export.
According to Taiwanese Apple supplier Pegatron, they will share iPhone 13 mini orders with Foxconn, producing the smallest model at its own factory in Chennai. With the addition of the iPhone 13 series to its Indian manufacturing plans, Apple will make nearly 70% of iPhones sold in the country locally.
Apple Still Launch Intel-Based Mac During Transition Period
Even though Apple is transitioning its Mac lineup from Intel processors to its own Apple silicon, the cooperation between Apple and Intel hasn’t come to the end. Apple still has at least one new Mac Pro to feature an Intel chip. Though Apple silicon has proven itself to be a worthy competitor to even some of Intel’s best portable processors, but it seems that Apple is not yet entirely confident enough to transition the Mac Pro to Apple silicon.
Apple silicon chips run on an entirely different architecture than Intel-based Macs. On Apple silicon Macs, Apple uses Rosetta 2 to automatically and seamlessly translate apps built for Intel computers to run on Apple silicon. Whereas Rosetta 2 works for the majority of customers, Apple may be wanting to hold out a little longer to ensure the translation technology is more mature before allowing its most high-end professional and demanding customers to use it.
Apple Stock News: Apple’s Bid to Dismiss Shareholder Proposal was Denied by U.S. SEC
The U.S. Securities and Exchange Commission has denied Apple Inc’s bid to exclude a shareholder proposal that would require the company to inform investors about its use of non-disclosure agreements and other concealment clauses.
Hence, unless Apple has to barring a deal with the activist, or Apple will have to face a vote on the proposal at its annual shareholder meeting next year.
Apple stated that its policy is not to use concealment clauses, however, at least one former employee has disputed that and filed a whistleblower complaint with the securities regulator.
