Apple Reportedly Readying Faster iPads
As the work-from-home trend continues around the world.
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Working from home has been an enduring trend from the Covid-19 pandemic and technology giant Apple may be ready to capitalise on that further.
According to a Bloomberg report on Wednesday, the company is aiming to spruce up its current iPad Pro models, with better cameras and faster processors. Those models—11-inch and 12.9-inch—could be making their debut as soon as April, the report said.
A spokesperson from Apple could not immediately be reached for comment.
Newer features may include a Mini-LED screen and faster processors, comparable to the M1 chip powering the newest MacBook Air, MacBook Pro and Mac mini. The company launched that new line of Macs last November, marking the first time the Apple-designed M1 chips were used.
Critics raved about those new MacBooks, saying they outperformed pricier Macs powered by Intel chips.
The work/school-from-home trends emerging from the Covid-19 pandemic have proven lucrative for the company. Apple posted a stunning quarter in late January, with double-digit growth in all of its product categories, including strong iPad sales.
Shares of Apple have struggled alongside tech stocks this year, down around 6% as investors have favoured more value-focused plays, directly tied to an economic recovery. Apple shares gained 80% both last year and in 2019. The stock got a boost earlier this week when Evercore ISI analyst Amit Daryanani told clients that the shares look cheap and lifted his price target to US$175 from US$163.
Reprinted by permission of Barron’s. Copyright 2021 Dow Jones & Company. Inc. All Rights Reserved Worldwide. Original date of publication: March 18, 2021.
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Luxury carmaker delivers historic revenues, record global sales, and robust profitability amid ambitious product transformation.
Fourth-quarter revenue climbed 24% to 110.61 billion yuan, equivalent to $15.30 billion, but missed estimates.
Fourth-quarter revenue climbed 24% to 110.61 billion yuan, equivalent to $15.30 billion, but missed estimates.
2 minThe Chinese owner of bargain app Temu reported slower quarterly profit and revenue growth, capping a turbulent year for the e-commerce giant as it faced stiff competition at home, geopolitical tensions abroad and U.S. tariff uncertainties.
PDD Holdings on Thursday said fourth-quarter revenue climbed 24% to 110.61 billion yuan, equivalent to $15.30 billion, missing a Visible Alpha estimate of 117.83 billion yuan. It was the slowest pace of growth since the first quarter of 2022.
Net profit rose 18% from a year earlier to 27.45 billion yuan, topping analysts’ expectations of 27.00 billion yuan. However, the growth was slower than the 61% rise in the third quarter and the more than twofold increase a year earlier.
“Looking ahead, we will continue to prioritize investments in the platform ecosystem as the cornerstone of our long-term value creation strategy,” said Jun Liu, PDD’s vice president of finance.
Jefferies analysts in a note said PDD’s top-line miss was due to slower-than-expected revenue growth from transaction services, while revenue from online marketing services and others was in line with consensus.
The easing momentum contrasted sharply with the stunning growth rates the company delivered in past years. PDD last year repeatedly warned of a slowdown, pointing to intensifying competition and external challenges.
Pinduoduo, the company’s discount platform in China, has grown rapidly since it launched nearly a decade ago, taking market share from e-commerce stalwarts Alibaba and JD.com . Its sister platform Temu burst onto the international scene in 2022 and swiftly gained attention in the U.S., attracting customers with low prices.
However, Temu has also encountered regulatory scrutiny as it expands overseas. U.S. President Trump in February delayed his plan to end a provision for China imports that lets platforms avoid paying import duties and customs inspections on low-value packages, offering the likes of Temu a brief reprieve.
For the full year, PDD’s total revenue rose 59% to 393.84 billion yuan and net profit climbed 87% to 60.03 billion yuan.
Last month, rival Alibaba posted its fastest pace of revenue growth since late 2023, with revenue for the latest quarter rising 7.6% to 280 billion yuan. Online retailer JD.com earlier this month nearly tripled its quarterly net profit as revenue climbed 13% to 346.99 billion yuan.
U.S.-listed PDD was recently 6.5% lower in premarket trading after the results.
An intriguing new holiday home concept is emerging for high net worth Australians.
Luxury carmaker delivers historic revenues, record global sales, and robust profitability amid ambitious product transformation.
