Bullish options flow was detected in AAPL stock on July 31, 2020.

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Samsung (SSNLF) and Apple’s (AAPL) assembly partners are among 22 companies that have pledged $1.5B of investments to set up mobile phone manufacturing units in India, Bloomberg’s Kartik Goyal and Santosh Kumar report. Foxconn Technology, Wistron Corp. and Pegatron Corp., all iPhone assemblers, are among companies picked to make smartphones under a production-linked incentive plan, Ravi Shankar Prasad, minister for electronics and information technology, said at a press conference in New Delhi Saturday. The incentives are aimed at encouraging global companies to shift their manufacturing beyond China after a pandemic-induced trade war put the focus on the risks to supply chains, the authors note. Source: https://www.bloomberg.com/news/articles/2020-08-01/india-says-iphone-maker-21-firms-pledge-1-5-billion-investment

On Wednesday, Alphabet’s (GOOG; GOOGL) Sundar Pichai, Amazon’s (AMZN), Apple’s (AAPL) Tim Cook, and Facebook’s (FB) Mark Zuckerberg were hauled in front of a virtual Congressional hearing, where they were subjected to more than five hours of cantankerous questions from both sides of the aisle, Eric Savitz writes in this week’s edition of Barron’s. But investors basically ignored the proceedings, with all four stocks rising as the hearings went on, the author notes. Less than 24 hours later, investors’ confidence was validated, when the same four companies reported their June quarter earnings, posting “impressive, Street-beating sales and profits,” he adds. Ultimately, there are still regulatory risks for all of these stocks, but the risks seem increasingly modest compared with the enduring appeal of big tech’s businesses, the publication contends. Source: https://www.barrons.com/articles/heres-why-amazon-apple-and-facebook-earnings-were-so-important-51596232561?mod=past_editions

On July 31, 2020, Tom Noyes wrote on his “Noyes Payments Blog” that “it would seem Apple is entering the POS game” as it is rumored that the iPhone maker has purchased Mobeewave. The blog states: “This is just a rumor.. but when you hear it often I give it a tad more credence…If that is the case Mobeewave is an amazing company with a solution that makes any phone a POS with just an App. Rather than getting an issuers permission to add a card to your wallet, it would require a merchant bank to create an account to allow for acceptance (I’m sure all acquirers will be calling Apple today).” Source: https://blog.starpointllp.com/?p=4878

Also on July 31, 2020, Raymond James analyst Chris Caso raised the firm’s price target on Apple to $440 from $400 and keeps an Outperform rating on the shares following the June quarter results. The analyst says Apple “somewhat surprisingly” admitted to new iPhone availability “a few weeks later” vs. last year, which Caso expects will serve to push iPhone revenue from September to December. The analyst adds that the report doesn’t significantly change his view of 2H20 or the upcoming 5G iPhone ramp.

Citi analyst Jim Suva raised the firm’s price target on Apple to $450 from $400 and reiterates a Buy rating on the shares. The company’s results last night were “amazingly strong especially considering the pandemic,” Suva tells investors in a research note. While management did not provide guidance due to COVID-19, it is clear Apple’s products and services are in “strong demand and the company is operating very well despite COVID-19,” says the analyst. Further, Suva believes the announced four-to-one stock split for holders August 24 and effective August 31 “is important for retail investors.”

Piper Sandler analyst Harsh Kumar raised the firm’s price target on Apple to $450 from $310 and reiterates an Overweight rating on the shares. Apple last night reported solid June quarter results, handily beating consensus estimates, Kimar tells investors in a research note. Similar to last quarter, the company did not provide September quarter guidance given the coronavirus uncertainty and variability in operations, adds the analyst. Kumar believes the business is “holding up extremely well, with the pandemic having little impact on the core business.”

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