This Week Trending for Apple Inc.(NASDAQ:AAPL)

Here are the trending stories this week on Apple Inc. (NASDAQ:AAPL). A quick catch-up on all that has happened in the fast moving world of Apple.

  • It looks like Apple is going with Intel for modems in future iPhones. Qualcomm will remain the provider of chips in China, and in Verizon phones. The Intel modem has been a reoccurring rumor and will likely appear in the company’s iPhone 7 models. This probably doesn’t mean a lot for iPhone users nor Apple investors. Apple is very open to evaluating all relationships to make its devices.  (AppleInsider)
  • Apple’s objections seem to have played a role in stopping encryption backdoors being required in the UK. A more limited version of the country’s Investigatory Powers Bill passed that does not require backdoors built into the encryption products. (AppleInsider)
  • Apple plans to sell excess electricity generated by Solar Energy from solar panels on its new campus. The company formed a subsidiary named Apple Energy and could also sell power from hydrogen full cells, solar farms, hydroelectric plants and biogas from facilitates in Oregon, North Carolina, Nevada, and Arizona. The details come from a US Federal Energy Regulatory Commission filing on June 6th. (Bloomberg)
  • UBS wrote earlier in the week that barring a complete meltdown of Apple Inc. (NASDAQ:AAPL)’s iPhone business shares of Apple stock have limited potential downside at their current trading price.  UBS Analyst Steven Milunovich believes the stock should not trade any lower than its current range between $95 and $105. He also believes that Apple will continue to sell profitable hardware but will pivot to becoming more of a service orientated company and continue to monetize it’s existing customers better. If the company is able to introduce new hardware and products he believes it could see $120 or higher. While a product that is 25 percent as successful as the iPhone could see a range between $130 to $150. UBS maintains a Price Target of $115 for Apple stock, with a buy rating. (AppleInsider)
  • Barron’s questions whether Apple India can replace Apple China iPhone revenue. They believe India could contribute up to $10 billion in revenue but unique challenges will continue to make things difficult. Currently Apple is seeking a waiver from local manufacturing rules to open retail stores in India. Regulatory politics in India, competition, and low wages are obstacles in China. Barrons also notes that Mizuho Securities maintains a $120 price target on Apple.
  • A Consumer Intelligence Research Partner report has some bad news that people are waiting longer to upgrade to the newest iPhone model. Currently half of iPhone users are waiting till their device is 2 years or older to upgrade, while in 2013 only 34% of users waited that long. (CIRP Report)
  • Apple is lowering their cut of subscription to 15% after a year and debuting App Store Adds. The previous cut was 30 percent. The company will additionally begin showing search adds for apps within the App Store.  (SeekingAlpha)

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