Tag Archives: aapl

Apple Shareholders Show Support For Company’s Privacy Stance

Apple ( AAPL ) investors showed their support for Apple CEO Tim Cook and his strong stance on iPhone privacy on Friday at the company’s annual shareholder meeting. Shareholders at the meeting, held at Apple’s Cupertino, Calif., headquarters, gave Cook a standing ovation, and several attendees took the floor to voice their support for the company in its legal battle with the FBI, according to media reports. “We are staunch advocates about our customers’ privacy and personal safety,” Cook said. “We do these things because they are the right thing to do.” Cindy Cohn, executive director of the Electronic Frontier Foundation, rose during the meeting to praise the company. “It’s wrong for the government to force a company to write code” that weakens security, she said. The issue is about “our safety and government overreach,” she said, according to Silicon Beat . The Rev. Jesse Jackson of the Rainbow Push Coalition thanked Cook for his efforts to fight a court order that would force Apple to hack its iPhone software, Bloomberg reported . “We oppose the unprecedented government overreach,” Jackson said. He invoked an era in U.S. history when law enforcement spied on civil rights leaders. On Thursday , Apple filed a legal motion asking a federal court in California to throw out an order it issued last week that the company help the FBI unlock an encrypted iPhone in a criminal probe. In its court filing, Apple said that the order “creates an unprecedented burden on Apple and violates Apple’s First Amendment rights against compelled speech.” The FBI wants Apple to create a special version of its iOS software that defeats the operating system’s security protections. On Feb. 16, U.S. Magistrate Sheri Pym ordered Apple to provide “reasonable technical assistance” to the FBI to unlock an iPhone belonging to Syed Farook, one of the killers in the San Bernardino, Calif., shootings. Farook and his wife, Tashfeen Malik, shot and killed 14 people on Dec. 2. The radicalized Muslim couple, described in press reports as supporters of terror group ISIS, later died in a gun battle with police. The FBI says that it wants to check his iPhone for evidence of possible accomplices and links to terrorist groups. At Thursday night’s Republican presidential debate, the five remaining candidates were unified in their opinion that Apple should help the FBI in the case. The two Democratic candidates have refused to pick a side but have urged the parties to find a middle ground. The privacy vs. security debate has divided the nation. A Reuters/Ipsos poll found more support for Apple’s stance, but Pew Research Center and IBD/TIPP polls showed more support for the FBI’s stance.  

Alarm.com Q4 Earnings Beat; Connects With Apple TV, Amazon Echo

Home security and smart-home technology provider Alarm.com ( ALRM ) soared Friday to a record high after raising its guidance and reporting fourth-quarter earnings late Thursday that topped expectations. The company is a cloud-based provider of connected-home technology. Its software-as-a-service platform enables homeowners and businesses to control a broad array of connected devices through a single user interface. Alarm.com reported Q4 revenue of $56.9 million, up 25% year over year and topping the consensus estimate of $44.1 million, as polled by Thomson Reuters. It reported earnings per share minus items of 14 cents, smashing estimates of just a penny profit. During the quarter, Alarm.com introduced an app for Apple ( AAPL ) TV. The app lets users watch live feeds from video cameras around their property in real time, using the Apple TV operating system and remote control. The company also announced voice control for lighting and smart thermostats that can be managed through the Amazon ( AMZN ) Echo device. With Amazon Echo and the Amazon cloud-based voice service Alexa, spoken commands — such as “turn on the living room lights” — trigger connected devices in the home. Alarm.com stock was up 13%, near 20, in late-afternoon trading in the stock market today . It peaked earlier in the session at 22.67. Alarm.com raised $98 million with its June 25 initial public offering , pricing 7 million shares at 14, the midpoint of its range. For 2016, Alarm.com expects revenue of $236 million to $239.5 million, well above the consensus of $232 million. Credit Suisse analyst Michael Nemeroff raised his price target on Alarm.com stock to 25 from 22, and maintained a buy rating. Alarm.com said that it expanded its base of dealers to 6,100, up from about 5,100 one year ago. It ended the year with 2.6 million subscribers, up 200,000 from eight months earlier.

Facebook Ready To Let Android Users Also Get A Close-Up

Pushing deeper into streaming video, Facebook ( FB ) is expanding its live-video feature to users of Android devices, having launched the feature for Apple ( AAPL ) iPhone users in December. Facebook initially began allowing live video on Apple devices in the U.S. only but has since expanded to 30 countries. In a blog post Friday, Facebook said that it will roll out Live to Alphabet ( GOOGL ) Android users next week in the U.S., with more countries coming soon. The live-video feature lets mobile users share experiences in real time. On average, Facebook said, people watch a live video more than three times longer than other video. Facebook is increasingly expanding its video-sharing prowess. When Facebook reported fourth-quarter earnings on Jan. 27, it said that people watch more than 100 million hours of video daily on Facebook. More than 500 million of its 1.6 billion users watch video daily. The addition of live video streaming for Apple and now Android users on mobile devices will boost views. Video is an integral element of Facebook’s revenue growth. Analysts see Facebook benefiting from such revenue drivers as video ads, a larger share of digital and traditional ads, and increasing monetization of its Instagram video- and photo-sharing site, which also has video ads. This month, Facebook announced that it had doubled the length of video ads on Instagram to 60 seconds. Facebook derives more than 96% of total revenue from advertising, with video ads commanding higher prices than other ads. Citing high expectations of revenue growth from video ads and Instagram ads, Rosenblatt Securities on Tuesday reiterated its buy rating on the social networking leader. The Live feature is an extension of a live broadcast channel that Facebook began offering in August for celebrities to interact with fans. That offering came months after Meerkat and Twitter ’s ( TWTR ) Periscope, two video apps, were launched for general use. Facebook wants to make sure that users don’t switch to Twitter for big events or Q&As. Besides Twitter, Facebook competes with Alphabet, Microsoft ( MSFT ) and Apple for online advertising. Facebook stock was down a fraction in early-afternoon trading in the stock market today , as was Alphabet. Apple stock up a fraction and Twitter up 1.5%.