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Poll Shows Solid Support For Apple In iPhone Encryption Case

Nearly half of Americans support Apple ’s ( AAPL ) decision to oppose a federal court order demanding that it create software to unlock an iPhone used by San Bernardino, Calif., shooter Syed Farook, according to a national online Reuters/Ipsos poll . The poll results released Wednesday found that 46% of respondents agree with Apple’s position, 35% disagree and the rest did not know. When asked if the government would use the ability to unlock phones to “spy on iPhone users,” 55% said they agreed, 28% disagreed and the rest were not sure. Reuters/Ipsos surveyed more than 1,500 U.S. adults Feb. 19 to 23. Apple CEO Tim Cook said complying with the court order would set a “dangerous precedent” that threatens the security and privacy of all iPhone users. If Apple creates the software that the government wants, it would make iPhones vulnerable to hackers, criminals, and foreign and domestic spy agencies, he said. On Tuesday, investment bank Piper Jaffray released the results of its online survey of more than 1,000 U.S. consumers. That poll found that 24.1% of respondents viewed Apple’s brand more favorably in light of its refusal to hack its iPhone security protections, while 23% viewed the brand less favorably. Of the rest, 17.8% said that they viewed the brand the same, and 35.1% said that they didn’t know anything about the story. A poll released Monday by the Pew Research Center found Americans slightly in favor of the government’s position. Some 51% of respondents said Apple should unlock the iPhone to assist the ongoing FBI investigation of the San Bernardino shootings. But 38% said Apple should not unlock the phone to ensure the security of its other users’ information. The remaining 11% didn’t have an opinion. Tech industry and civil liberties groups have voiced support for Apple’s position, while a number of politicians and law enforcement officials have backed the government’s stance. Meanwhile, the Wall Street Journal reported Tuesday that the Justice Department is seeking to force Apple to extract data from about 12 other iPhones in a dozen criminal cases. The Justice Department last week claimed it wasn’t trying to create a precedent and only wanted Apple’s help in accessing the single iPhone in the San Bernardino case. Apple challenged that claim. “The government suggests this tool could only be used once, on one phone. But that’s simply not true,” CEO Cook wrote last week in a letter to customers. “Once created, the technique could be used over and over again, on any number of devices. . . . The government is asking Apple to hack our own users and undermine decades of security advancements.” Apple recently hired former U.S. Solicitor General Ted Olson, a partner with the law firm Gibson, Dunn & Crutcher, as an outside lawyer to help fight its case. Speaking on ABC’s “This Week” on Sunday, Olson said complying with the federal order would open a “Pandora’s box” of privacy issues. RELATED: Apple CEO Calls For Government Panel On Encryption Issues .

First Solar Rockets On Q4, Delays 2016 Projects To Milk ITC Extension

No. 1 solar installer First Solar ( FSLR ) is “firing on all cylinders” after reiterating 2016 earnings guidance late Tuesday despite pushing 200-250 megawatts in projects out to 2017, a Deutsche Bank analyst wrote Wednesday. Both Cuyama and Switch projects will be recognized entirely in 2017, and First Solar plans to delay the latter piece of its 280-MW California Flats project until 2017.  Apple ( AAPL ) is a partner in the Monterey County, Calif., project. The lowered guidance followed First Solar’s “solid” Q4 and 2015 sales and earnings beats, Deutsche Bank analyst Vishal Shah wrote in a research report. Shah reiterated his buy rating and 86 price target on First Solar stock. In early trading on the stock market today , First Solar stock rocketed 13% to around 70. SunPower ( SPWR ) stock lifted about 9%, leading shares of jointly-owned yield company 8point3 Energy Partners ( CAFD ), up 3.5%. For Q4 ended Dec. 31, First Solar reported $1.60 earnings per share on $942 million in sales, down 15% and 6.5%, respectively, vs. the year-earlier quarter, but leading analyst expectations for 76 cents and $929 million. First Solar’s 2015 sales and EPS came in at $3.6 billion and $5.37, up a respective 37% and 6%, and leading Wall Street projections for $3.56 billion and $4.51. Delayed Projects Slug Guidance But First Solar lowered 2016 sales guidance to $3.8 billion to $4 billion vs. earlier guidance for $3.9 billion to $4.1 billion. CFO Mark Widmar credited the ITC extension for more flexibility. At the midpoint, sales would be up 8% and EPS down 21% vs. 2015 metrics. The new outlook topped the consensus of 19 analysts polled by Thomson Reuters for $3.8 billion and $4.11. For 2016, First Solar expects to drop the Kingbird, Stateline and Moapa projects (about 440 MW) down to 8point3. Cuyama was originally slated to drop to 8point3 in 2016, but won’t complete until 2017 to leverage the ITC benefits, Widmar said on the call. Congress’ ITC extension shed visibility on sector, CFO Jim Hughes told analysts on the call. First Solar now sees a 20.3 GW potential booking pipeline, up 18% quarter over quarter. The United States represents about 40% of that opportunity vs. 25% in Q3. “The ability to push projects out has given us a little more flexibility in terms of available supply,” Hughes said. Credit Suisse analyst Patrick Jobin retained his neutral rating and 65 price target on First Solar stock, noting component gross margins exceeded 26% in Q4 vs. his expectations for 19.2%. Total gross margins were 24.6% vs. his model for 19.7%. “Importantly, the shipment guidance of 2.9 GW to 3 GW (for 2016) was retained, implying project push-outs are replaced with increased mix of third-party module sales,” he wrote in a report. S&P Capital analyst Angelo Zino continued his buy rating and 75 price target on First Solar stock, noting the greater 2016 visibility. “We believe First Solar is executing well on efficiency and cost reduction efforts aiding higher margins,” he wrote in a report. “We see higher U.S. bookings are more projects are viable post-ITC extension and see competitor struggles as an opportunity.”

Why You Should Be Paying Attention To Apple’s Stock Chart

Loading the player… With the market down for a second day in a row, Apple ( AAPL ) shares have come close to a recent low. The consumer tech giant has been stuck in a downtrend for months as analysts have slashed their iPhone sales forecasts for 2016. Shares fell as much as 1.4% to 93.33 Wednesday morning. That’s within $1 of its Jan. 28 low of 92.39, and not much further from its Aug. 24 low of 92. Volume was tracking lighter than average. The stock was able to erase its losses and was trading a fraction higher by the afternoon in the stock market today . Apple is trading about 30% below its all-time high reached last April. On Tuesday, market research firm IDC said Apple Watch shipments slowed in the fourth quarter, with Fitbit ( FIT ) shipping nearly double the amount of wearable devices as Apple in the same time. But Fitbit issued weak first-quarter guidance late Monday, as it’s discontinuing one model and adding two more beginning in March. Apple will hold its spring product meeting next month, where a second-generation Apple Watch could be revealed. Elsewhere in the tech space, Facebook ( FB ) tested support at its 50-day moving average, down 0.6% Wednesday. Facebook, a top-rated stock, is trading 11% below its all-time high reached earlier this month. Facebook said its Instagram ad milestone , with its video- and photo-sharing service, hit 200,000 advertisers. Amazon dropped 2.3%, falling back below its 200-day line in intraday trade just two sessions after retaking that level. Amazon is trading about 22% below its high and a potential buy point. Microsoft is trading about 10% below a buy point, off 0.7% Wednesday. Microsoft shares neared the 50-day line on Monday but found some resistance there.