Four Apple Headlines from Thursday You Might Have Missed (AAPL)
It was a day that kept getting worse for the markets Thursday. The government shutdown took a backseat to a bizarre shooting that started at the White House and ended with a woman dead at the Capitol Building and a one year-old child in the backseat.
Apple (NASDAQ: AAPL) couldn’t withstand a market that ended down triple digits. The stock ended the day down 1.2 percent at $483.41. Possibly more notable, the stock is forming an ascending triangle pattern as it fights to stay above its 50 day moving average that continues to rise.
Here are a few headlines you may have missed Thursday.
Apple Buys Cue For Around $40 Million
TechCrunch reported that Apple purchased Cue, a personal assistant app which, according to its website, is now shut down. Cue began as Greplin, a social search startup that raised several rounds of venture funding.
Although the app is shut down, TechCrunch says that the company will remain but what Apple has planned for it was not revealed. In a statement, an Apple spokesperson gave the normal canned response:
“Apple buys smaller technology companies from time to time, and we generally do not discuss our purpose or plans.”
Something’s Wrong With the iPhone 5S Sensors
In the words of Gizmodo, the iPhone 5S’s sensors are “totally screwed up.” Gizmodo tested the sensors against older iPhones and old-school levels (you know, with the bubble) and found that it wasn’t just a little off; it was “embarrassing.” Their story included both still-image and video evidence. Just in case you’re installing new cabinets this weekend, you probably don’t want to use your 5S as a level.
The 5C is Already on Sale?
Yes, it’s true. Best Buy (NYSE: BBY) is offering the iPhone 5C for the same $99 price but its throwing in a $50 Best Buy gift card making the phone $49 through the end of the weekend. Sprint (NYSE: S) is offering the 5C for free with a contract if you’re switching from another carrier, and Target (NYSE: TGT) is offering it for $79 with contract.
Does that mean that demand is light for the 5C or that carriers are using it as a loss-leader?
Citigroup Fined $30 Million for Leaking Apple Production Cut Information
AllThingsD reported that Citgroup (NYSE: C) was fined $30 million for leaking information to a few clients before releasing it to the general public. Citigroup analyst Kevin Chang emailed research showing that Apple was significantly cutting production of its iPhone to SAC, T. Rowe Price, Citadel and GLG Partners before its official publication.
Three of the four institutions acted on the information and, as a result, avoided sizable losses. On the day the note was officially published, the stock fell more than five percent.
Disclosure: At the time of this writing, Tim Parker was long Apple.
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