Tag Archives: aapl

Facebook Nears New Buy Point As Big Techs Retake Key Levels

Loading the player… A new base is taking shape for Facebook ( FB ), as the social media giant’s stock has finally broken through an area of resistance. Facebook’s popular photo-sharing app Instagram said Tuesday it’s soon rearranging feeds to show posts based on what users would most likely want to see, rather than showing them chronologically. That’s much like an algorithm Facebook uses. Shares are on track for their fourth straight day of gains, with the stock breaking through resistance at the 110 price level. The stock now looks to be forming the right side of a new base, rising 1.2% in soft volume Wednesday. Facebook is trading 4% below its February high and a potential buy point. Apple On 6-Day Win Streak Meanwhile, Apple ( AAPL ) has notched gains for the past five sessions, boosted by a gap-up yesterday, as Morgan Stanley said iPhone demand was tracking ahead of expectations. Volume is tracking lighter than average as the stock looks to gain more today. Up 1.4% in afternoon trade, Apple is now trading above the 105 price level, an area the stock hasn’t traded above since Jan. 4. Apple is 21% below its high reached last April. Amazon, Alphabet, Microsoft Retake 50-Day Lines Among other large-cap tech stocks, Amazon ( AMZN ) was able to retake its 50-day line on Monday and is continuing to hold above that level. Amazon shares are 16% below their late December high and a potential buy point. Amazon stock rose 0.5% intraday. Google parent Alphabet ( GOOGL ) was able to retake its 50-day line last Friday. The stock is now looking to break past resistance at the 750 price level. Alphabet is 6% below its February peak, up 0.8% Wednesday afternoon. Microsoft ( MSFT ) also retook its 50-day recently. Microsoft shares are trading about 4% below a potential buy point, rising 1.5% Wednesday.

Apple Urges Court To ‘Zealously Guard Civil Liberties’

Apple ( AAPL ) late Tuesday urged a federal judge to side with civil liberties when it reconsiders an FBI demand to force Apple to hack its iPhone security software. Apple filed its last scheduled legal brief before next Tuesday’s federal court hearing over unlocking an iPhone that belonged to deceased San Bernardino, Calif., shooter Syed Farook. In its brief, Apple acknowledged that the case is “in a difficult context after a terrible tragedy.” “But it is in just such highly charged and emotional cases that the courts must zealously guard civil liberties and the rule of law and reject government overreaching,” Apple’s lawyers wrote. “This court should therefore deny the government’s request and vacate the order.” Apple said the Justice Department and the FBI are asking the court to force Apple to resolve a policy and political issue that is dividing Congress and agencies of the executive branch. “The Justice Department and FBI argue that this court must decide the issue in a vacuum, without regard to either the swirling national debate about mandating a back door or the dangers to the security and privacy of millions of citizens posed by the relief they seek on behalf of the United States,” Apple’s lawyers wrote. Apple maintains that the All Writs Act can’t be used as “an all-powerful magic wand” to authorize such orders. Forcing Apple to create new software that degrades its device security is “unprecedented” and would have dangerous consequences, Apple says. It would violate the company’s First Amendment rights against compelled speech. “The government’s position has sweeping implications,” Apple’s attorneys wrote. “Under the government’s view, the state could force an artist to paint a poster, a singer to perform a song or an author to write a book, so long as its purpose was to achieve some permissible end, whether increasing military enrollment or promoting public health.” Apple is asking U.S. Magistrate Sheri Pym to vacate her Feb. 16 order that Apple assist the FBI in unlocking Farook’s iPhone. The parties will meet in federal court in Riverside, Calif., next Tuesday to argue the case. The case has fueled a debate over smartphone encryption, which has pitted Silicon Valley and civil rights groups against the federal government and law enforcement agencies. Companies supporting Apple’s position include Amazon.com ( AMZN ), Alphabet ( GOOGL ), Facebook ( FB ) and Microsoft ( MSFT ). RELATED: Apple-FBI Feud Over iPhone Encryption Turns Ugly .

Google Self-Driving Car Chief Urges Congress To OK Safety Tech

The chief of self-driving car development at Google told a U.S. Senate panel Tuesday that “Congress has a huge opportunity to help ensure that self-driving cars can be safely deployed at scale,” as the  Alphabet ( GOOGL ) subsidiary and others push the pedal to the metal on the fast-emerging technology. Chris Urmson, director of the self-driving car program at Google X, was among those testifying at a hearing titled “Hands Off: The Future of Self-Driving Cars,” convened by U.S. Sen. John Thune, R.-S.D., chairman of the Senate Committee on Commerce, Science and Transportation. “We need cars that are fully self-driving,” Urmson said. “The car must be designed to do all the work, so the occupants are not expected to take control of the vehicle at any time.” Urmson pointed to National Highway Traffic Safety Administration estimates that “38,000 people were killed on America’s roads last year, and 94% of accidents involve human error. Self-driving cars can help us change that. Not only could our roads be a lot safer, but self-driving cars could bring everyday destinations and new opportunities within reach of those who might otherwise be excluded from their inability to drive a car.” Google is testing self-driving prototype vehicles in three states, driving 1.4 million miles “in autonomous mode” over the past several years, Urmson said. Senator Urges Rethink To Boost Self-Driving Cars Sen. Thune, in comments before the testimony by Urmson and others, sounded ready to act. He urged federal and state governments to rethink how they regulate and license vehicles for the future. “We must ensure that the United States remains the cradle of innovation and that we continue to lead the way in the development and deployment of automated vehicles,” Thune said. “In addition, questions regarding liability, insurance, privacy, security and infrastructure need answers. These aren’t small things, but none of them is insurmountable.” He pointed to the technology’s ability to not only clear up gridlock, but also improve communities. “To implement this future, we need to challenge ourselves to overcome the 20th century conception of what a car must have … and even the concept of a licensed human driver. Because so much is possible, we must be careful not to stymie innovation because of a lack of imagination,” he said. But the technology is facing a patchwork of state regulations. “Over the past two years, 23 states have introduced 53 pieces of legislation that affect autonomous vehicles, all of which include differ approaches and concepts,” Google’s Urmson said. The hearing comes a month after one of Google’s self-driving cars hit a municipal bus in California. Google has said new software changes will avoid future incidents, but at least one speaker Tuesday urged caution. Mary Louise Cummings, director of the Humans and Autonomy Lab and Duke Robotics at Duke University, said there remain concerns over the cars’ sensors not working properly in some areas. Moreover, she said, “we know people will try to hack into these systems.” And the technology, while developing fast, remains relatively untested. She said that while Google’s cars have driven those 1.4 million miles the past several years, “New York cabs drive 1.4 million miles” every day. Still, there is no question automakers and tech firms are fast heading down the road toward the day they can start selling vehicles that can drive themselves.  Apple ( AAPL ) is among those in the car game, it’s been widely reported, though the company hasn’t confirmed this. NXP Semiconductors ( NXPI ), Mobileye ( MBLY ), Nvidia ( NVDA ) and Ambarella ( AMBA ), among others, are partnering with automakers to develop chips and technology for self-driving cars and sophisticated safety systems in such cars. California’s Proposed Law Seen As Detour For Self-Driving Cars But Google and others have complained about laws impeding progress. In December, California proposed draft rules banning autonomous vehicles that aren’t equipped with human controls and don’t have a licensed human driver aboard. In January, U.S. Transportation Secretary Anthony Foxx introduced the Obama administration’s $4 billion, 10-year plan to get self-driving cars onto U.S. roads in “corridors” throughout the country. The NHTSA said this year that it may set aside some vehicle safety rules to allow more driverless cars to operate on U.S. roads, as part of a broader effort to speed up development of self-driving vehicles. On Friday, the NHTSA said in a report that there are significant legal hurdles to allowing fully autonomous vehicles without steering wheels, according to Reuters. The federal agency will write guidelines for self-driving cars within six months, Foxx said in January. Last month, the agency said the artificial intelligence system piloting a self-driving Google car could be considered the driver under federal law.