|Bid||1,485.24 x 800|
|Ask||1,486.23 x 800|
|Day's Range||1,484.31 - 1,500.50|
|52 Week Range||1,027.03 - 1,500.50|
|Beta (5Y Monthly)||1.02|
|PE Ratio (TTM)||31.92|
|Earnings Date||Feb. 02, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||1,513.34|
Google's strategy for bringing new customers to its cloud is to focus on the enterprise and specific verticals like healthcare, energy, financial service and retail, among others. Its healthcare efforts recently experienced a bit of a setback, with Epic now telling its customers that it is not moving forward with its plans to support Google Cloud, but in return, Google now got to announce two new customers in the travel business: Lufthansa Group, the world's largest airline group by revenue, and Sabre, a company that provides backend services to airlines, hotels and travel aggregators. For Sabre, Google Cloud is now the preferred cloud provider.
Apple, Microsoft, Alphabet and Facebook may be hot out of the gate in 2020, but that doesn't mean big tech doesn't come with its own unique risks, says Bank of America Merrill Lynch Head strategist Savita Subramanian.
(Bloomberg) -- Sign up here to receive the Davos Diary, a special daily newsletter that will run from Jan. 20-24.Google’s chief executive officer has left no doubt about how important he thinks artificial intelligence will be to humanity.“AI is one of the most profound things we’re working on as humanity. It’s more profound than fire or electricity,” Alphabet Inc. CEO Sundar Pichai said in an interview at the World Economic Forum in Davos, Switzerland on Wednesday.Alphabet, which owns Google, has had to grapple with its role in the development of AI, including managing employee revolts against its work on the technology for the U.S. government. In 2018, a group of influential software engineers successfully delayed the development of a security feature that would’ve helped the company win military contracts.Google has issued a set of AI principles that prohibit weapons work, but doesn’t rule out selling to the military. It has also pledged not to renew its Project Maven contract, which involves using artificial intelligence to analyze drone footage.Pichai, who’s led Google since 2015, took control of Alphabet after founders Larry Page and Sergey Brin stepped down from day-to-day involvement last month.“AI is no different from the climate,” Pichai said. “You can’t get safety by having one country or a set of countries working on it. You need a global framework.”Current frameworks to regulate the technology in the U.S. and Europe are a “great start,” and countries will have to work together on international agreements, similar to the Paris climate accord, to ensure it’s developed responsibly, Pichai said.Technology such as facial recognition can be used for good, such as finding missing people, or have “negative consequences,” such as mass surveillance, he said.Keith Enright, Google’s chief privacy officer, also spoke about the potential of artificial intelligence and machine learning to continue developing new technologies and services using a minimum amount of customer data.“We’re right now really focused on doing more with less data,” Enright said at a data-protection conference in Brussels on Wednesday. “This is counter-intuitive to a lot of people, because the popular narrative is that companies like ours are trying to amass as much data as possible.”Holding on to data that isn’t delivering value for users is “a risk,” he said.Powerful new European Union rules took effect across in May, giving privacy watchdogs the power to fine companies as much as 4% of annual global sales for serious violations. Google has come under scrutiny many times in Europe, with one probe in France resulting in a 50 million euro ($55 million) fine under the new law.Pichai had also stopped by Brussels on his way to Davos, giving a rare public speech, where he called on regulators to coordinate their approaches to artificial intelligence. The European Union is set to unveil new rules AI developers in “high risk sectors,” such as health care and transportation, according to an early draft obtained by Bloomberg.(Updates with privacy officer comments from ninth paragraph.)\--With assistance from Natalia Drozdiak.To contact the reporters on this story: Amy Thomson in London at email@example.com;Stephanie Bodoni in Brussels at firstname.lastname@example.orgTo contact the editors responsible for this story: Giles Turner at email@example.com, Peter ChapmanFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Apple (AAPL) is expected to begin manufacturing of its unannounced affordable iPhone variant in February ahead of a public debut in March, per Bloomberg.
Sundar Pichai, the CEO of Alphabet Inc and its Google subsidiary, said on Wednesday that healthcare offers the biggest potential over the next five to 10 years for using artificial intelligence to improve outcomes, and vowed that the technology giant will heed privacy concerns. U.S. lawmakers have raised questions about Google's access to the health records of tens of millions of Americans. Ascension, which operates 150 hospitals and more than 50 senior living facilities across the United States, is Google's biggest cloud computing customer in healthcare.
Facebook's role in elections and its UK expansion, Apple's Cook in Ireland, Alibaba's certification and the EU ban on facial recognition technology are the top stories.
(Bloomberg Opinion) -- How can institutions balance the existing businesses that pay the bills today with creating the new technologies that will pay the bills tomorrow? That was the challenge facing this week's guest on Master in Business, Safi Bahcall, a member of President Barack Obama’s council of science advisers, and author of the book, “Loonshots: How to Nurture the Crazy Ideas That Win Wars, Cure Diseases, and Transform Industries.”Bahcall said that soon after he was appointed he was told he should update Vannevar Bush’s guidelines to innovation in government. The problem was, he had no idea of who Vannevar Bush was. He dove into his history and discovered that it was Bush who had persuaded President Franklin Roosevelt to create the Office of Scientific Research and Development, which played a huge role in the war effort. The OSRD accelerated development of existing technologies and created new ones, including radar and the proximity fuse, which detonates munitions when they reach a predetermined distance from a target.Bahcall argues that too many institutions fail to transition to thinking about the future from operating in the present. The group that is making the money for the company today wants to stick with what is working and those projects that have a very high success rate. The group that is creating the game-changing products are taking chances on ideas with a very high failure rate. Bridging the two groups is the role of leadership, something that companies such as Apple and Pixar historically have done well.His favorite books can be seen here; a transcript of our conversation is here.You can stream/download the full conversation, including the podcast extras on Apple iTunes, Overcast, Spotify, Google, Bloomberg and Stitcher. All of our earlier podcasts on your favorite pod hosts can be found here.Next week, we speak with Barbara Tversky, professor of psychology at Stanford and Columbia, and author of "Mind in Motion: How Action Shapes Thought." Tversky was married to the now-deceased Amos Tversky, and helped Michael Lewis research his book on Tversky and Daniel Kahneman, "The Undoing Project."To contact the author of this story: Barry Ritholtz at firstname.lastname@example.orgTo contact the editor responsible for this story: James Greiff at email@example.comThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Barry Ritholtz is a Bloomberg Opinion columnist. He is chairman and chief investment officer of Ritholtz Wealth Management, and was previously chief market strategist at Maxim Group. He is the author of “Bailout Nation.”For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The FAANG stocks are back in the spotlight this earnings season but not all of them have stellar charts. Who has the best earnings chart of the group?
Intel (INTC) Q4 results are expected to have benefited from improvement in the DCG, IOTG and NSG segments. However, decline in CCG is likely to have been a headwind.
(Bloomberg) -- Sign up here to receive the Davos Diary, a special daily newsletter that will run from Jan. 20-24.SAP SE’s co-chief executive officer said companies will continue to face activism not only from shareholders, but increasingly from employees and consumers.“This will continue to be something that CEOs will have to understand and balance across the different stakeholders,” Jennifer Morgan said in an interview with Bloomberg News’s Stephanie Flanders on Tuesday at Davos.The Walldorf, Germany-based company attracted the interest of activists at Elliott Management Corp., which revealed a 1.2 billion-euro ($1.3 billion) stake when SAP announced a change in strategy in April.Read More: SAP’s an Old Company With New TricksActivists have been broadening their scope of engagement with companies. Protesters have been pressing BlackRock Inc. to divest from fossil fuel companies and others that contribute to climate change, while employees at Google have protested over the conduct of executives.Morgan -- who became co-CEO in October alongside Christian Klein and is the first female chief executive of a DAX-listed company said -- said user experience is set to be the new battleground.“If a company is not competing on experience its a race to the bottom”, she said. “When you’re in a consumer-led economy like the United States, for example, the disruption that we see happening for traditional industries is happening in the experience gap”.Morgan used fitness company Peloton Interactive Inc. as a good example of tapping into someone else’s experience “gap” saying they provide not just a better service but a real experience that people will pay more for.To contact the reporter on this story: Sarah Syed in London at firstname.lastname@example.orgTo contact the editor responsible for this story: Giles Turner at email@example.comFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
While Magna International (MGA) forecasts revenue and profit growth through 2022, it anticipates sales to decline in 2020 amid macro-economic headwinds.
Enterprises are focusing on enhancing workspace communication to boost productivity, which puts Microsoft and Slack under the spotlight.
FAANG's huge market value determines broader stock market movements, and any let-downs in their quarterly earnings report will surely have far-reaching implications.
(Bloomberg Opinion) -- Who said Davos doesn’t make a difference? As world leaders, business executives and cheerleaders for the planet descended on the Swiss resort for the annual World Economic Forum, one diplomatic victory was being chalked up on the sidelines: A presidential truce between Donald Trump and Emmanuel Macron over France’s plan to tax tech companies, which the U.S. says discriminates against its national champions.After threats of retaliatory trade tariffs on both sides, Macron took to Twitter to declare a “great” discussion with Trump that would lead to a “good agreement” on de-escalation. Trump retweeted that assessment, responding in the affirmative with “excellent!” But it’s hard to see much worth celebrating yet.What this truce amounts to isn’t exactly clear, for one thing, and it’s certainly not being trumpeted in the way that Trump’s “beautiful monster” of a phase-one deal with China was last week. Avoiding an escalation of tariffs is obviously a good thing. But Trump has already leveled so many trade threats at France and the European Union — driven by hatred of the trade surpluses they run with the U.S. — that it’s hard to feel excited at the prospect of one less gun barrel. If Trump actually ends up retracting his specific threat to hit $2.4 billion of French products with tariffs, that still doesn’t automatically guarantee protection for Airbus aircraft or German cars.It’s also not clear what Macron has gifted Trump in order to get de-escalation onto the agenda. According to the Wall Street Journal, France may have simply offered to “pause” its tech tax until a worldwide solution is agreed upon by the Organization for Economic Co-operation and Development — where support from the U.S. is obviously crucial. That’s not as huge a climb down as it initially seems: Paris could feasibly suspend the collection of digital tax payments due in April without scrapping the principle or the structure of its tax, as my Bloomberg News colleagues write elsewhere. But it still looks like Trump’s threats have paid off on one level.If the original sin is that today’s tech giants — Google parent Alphabet Inc., Facebook Inc., Amazon.com Inc. — aren’t paying their fair share in tax, we seem to be veering a long way from absolution. Things would be different if Europe could set aside its differences and agree on the fundamental good that a digital tax across its 28 members (soon to be 27) would bring. Brussels estimates global tech firms pay an average tax rate of 9.5%, compared with 23.2% for bricks-and-mortar peers. But the EU is divided on the need to overhaul the data economy, with low-tax jurisdictions like Ireland and the Netherlands resisting a common levy on digital firms.The Trump administration has shown itself adept at exploiting these divisions. France’s move to go it alone with a digital tax was politically popular, but fiscally weak. It is only expected to bring in 500 million euros ($555 million) a year, a digital drop in the ocean of France’s approximately 80 billion-euro deficit. Despite being fundamentally righteous, it allowed Trump to poke the soft underbelly of European unity by training his tariff weapon on Paris — and confronted the Macron administration with the prospect of pain for key exporters. The U.S. trade deficit with France was $16.2 billion in 2018.The pressure is now on to get consensus among more than 135 countries in the OECD-led push for an agreement on how to tax digital profits. It’s a solution favored by the likes of Apple Inc.’s Tim Cook, which speaks to how companies prefer the predictability of global solutions over patchy national ones. But until such a solution is actually agreed, it will be hard to celebrate this latest Franco-American “truce.” It has allowed France and Europe to save face by avoiding the reality of a new trade confrontation with Trump as he fights for re-election. It has offered tech firms a way to save money. But it hasn’t really saved the world from the threat of more trade wars. Davos can’t achieve everything.To contact the author of this story: Lionel Laurent at firstname.lastname@example.orgTo contact the editor responsible for this story: Melissa Pozsgay at email@example.comThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Lionel Laurent is a Bloomberg Opinion columnist covering Brussels. He previously worked at Reuters and Forbes.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Uber's (UBER) sale of its food delivery business in India aims at loss reduction to enable the company earn profits in terms of EBITDA by 2021.
(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. Presidents Emmanuel Macron and Donald Trump agreed to a truce in their dispute over digital taxes that will mean neither France nor the U.S. will impose punitive tariffs this year.Macron said on Monday he had a “great discussion” with Trump on the issue, without giving details.“We will work together on a good agreement to avoid tariff escalation,” he said on Twitter.“Excellent!” Trump said in a reply to Macron’s post, without providing additional information. Trump is en route to Davos, Switzerland, for the World Economic Forum.A White House readout of the call was notably more muted, saying only that the “two leaders agreed it is important to complete successful negotiations on the digital services tax” and “discussed other bilateral issues.” And neither a White House spokesman nor officials with the U.S. Trade Representative’s office would confirm that the U.S. president had called off his announced tariffs.Still, the possible respite may defuse transatlantic tensions that had been building between Washington and Brussels along another potential trade war front. Last week, Trump signed a cease-fire with China in phase one of a broader deal aimed at balancing trade between the world’s two largest economies.The European Union is an even bigger U.S. trading partner than China and supply chains between the two economies, particularly in automotive and financial services industries, are intertwined in ways that would make a tit-for-tat tariff dispute even more harmful to the world economy.Macron’s government still hopes to find a solution that fits within discussions at the Organization for Economic Cooperation and Development’s work on the issue, according to a French official who asked not to be identified in line with government rules.European finance ministers meeting in Brussels Tuesday will discuss progress of the OECD talks. While the OECD is still working on its proposal for taxing tech companies around the world, France pushed ahead with its own levy last year that hit U.S. internet giants like Google, Apple Inc. and Amazon.com Inc.“We now have an agreement between the two presidents to avoid any tariff escalation and avoid any trade war,” French Finance Minister Bruno Le Maire told reporters in Brussels before the meeting. “It’s remains a difficult negotiation -- with digital tax, the devil is in the details and we need to resolve the details.”Paris and Washington have discussed the possibility of France suspending the collection of the digital tax payments due in April as long as the U.S. refrains from imposing new tariffs, French officials said. But that wouldn’t constitute a withdrawal of the levy, they added. For its part, the French government denies its national tax is discriminatory and warned that the EU would retaliate if the U.S. imposed additional levies.The U.S. has said that the French tax discriminates against American technology companies, citing Section 301 of a 1974 American law that Trump has thus far reserved to justify tariffs against China. That opened the door to the U.S.’s threat to hit $2.4 billion of French goods with tariffs in retaliation.Among the French products targeted with duties of as much as 100% were luxury items like wine, cheese and makeup. One American wine merchant called it the biggest threat to the industry since Prohibition a century ago.For its part, the French government had warned that the EU would retaliate if the U.S. imposed additional tariffs.The dispute was another headache for European trade officials scrambling to expand their policy arsenal as the U.S. takes aim at a rules-based system for global trade that Trump argues is outdated and tilted against America. It also coincided with a change in leadership at the European Commission, the EU’s executive arm.EU trade commissioner Phil Hogan visited Washington last week for the first time in the job, partly to plead for talks rather than tariffs in disagreements like the French digital tax. At stake, he said, was transatlantic trade in goods and services valued at more than $3 billion a day.“Sounds like a fairly healthy relationship to me,” Hogan said Thursday in the U.S. capital. “So why put tariffs on these EU products to make them more expensive for your people?”The truce follows weeks of discussions between Treasury Secretary Steven Mnuchin and Le Maire, who were scheduled to meet Wednesday in Davos, Switzerland, the alpine resort town where government officials and business leaders gather during the winter to discuss whatever is ailing the global economy.The dispute has ramifications outside France as other countries try to come up with ways to generate revenue from the digital economy. Mnuchin told the Wall Street Journal that the U.K. and Italy will face American tariffs if they proceed with similar levies on foreign tech firms.U.S. and EU trade relations started to sour in 2018 when the Trump administration invoked national-security considerations to impose tariffs on steel and aluminum from Europe. As a U.S. military ally, the EU was infuriated and promptly retaliated with levies on iconic American brands such as Harley-Davidson Inc. motorcycles and Levi Strauss & Co. jeans.A subsequent U.S. threat to wreak significantly more economic damage by targeting the European auto industry with duties on the same security grounds led to a hastily agreed truce and a pledge by both sides to work toward reducing industrial tariffs across the board.Since then, the Trump administration has refused to start the tariff-cutting negotiations unless Europe includes agriculture in them. Also, it imposed levies on EU products in retaliation over government aid to Airbus SE that was deemed illegal by the World Trade Organization, and disabled the WTO’s appellate body,The EU, meanwhile, is pressing ahead with a plan for tariffs against the U.S. in a parallel WTO case over unlawful subsidies to Boeing Co.Trump, scheduled to speak Tuesday in Davos at the World Economic Forum’s annual meeting, on Sunday reiterated his frustration with Europe as a trading partner.“Europe has had tremendous barriers to us doing business with them. All those barriers are coming down. They have to come down,” he told a conference of farmers in Austin, Texas. “If they don’t come down, we’re going to have to do things that are very bad for them.”He added, “Europe was, in many ways, more difficult -- and is more difficult -- than China.”(Updates with possible French concession in the 11th paragraph)\--With assistance from Jonathan Stearns, Justin Sink and Chelsea Mes.To contact the reporters on this story: Ania Nussbaum in Paris at firstname.lastname@example.org;William Horobin in Paris at email@example.comTo contact the editors responsible for this story: Ben Sills at firstname.lastname@example.org, Brendan Murray, Wendy BenjaminsonFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
(Bloomberg) -- Tim Cook rarely invests his time and money in products without the Apple Inc. logo. But when he tried a prototype shower head at his local gym about five years ago, he made an exception. Philip Winter, who helped create the Nebia shower head, recalls moving to San Francisco in 2014 to get his idea off the ground. The shower head sprays in a way that uses less water, but still keeps people warm. Crafted from materials including aluminum, the system looks like something Apple might design, if it made bathroom hardware. To develop the product, Winter persuaded gyms in Silicon Valley to run pilot tests. After installing the shower head early in the morning, he’d wait outside locker rooms to get feedback. That’s when he met Cook, who happened to use an early version at the gym in Palo Alto, California, where the Apple chief executive officer worked out most mornings.Cook was drawn to the environmental aspect, according to Winter, who asked the Apple boss if he’d be willing to make an investment. Despite the first prototype being “crude,” the Apple CEO was excited about the product because there hadn’t been much recent innovation in the shower market. He also appreciated the design, Winter said. Cook backed Nebia Inc. about five years ago and contributed in later financing rounds, too. The startup has raised almost $8 million in total, according to Crunchbase. Winter wouldn’t disclose how much Cook invested, but said it was “significant.” The Nebia co-founder said Cook used his own money and stressed that the startup hasn’t received any formal help from Apple, which declined to comment. Still, Cook shared some of the knowledge he’s amassed leading the world’s largest technology company, advising Nebia on suppliers and pushing the startup to prioritize user experience, design and sustainability.“His emails are very long, well crafted and detailed,” Winter said.Cook also told Winter to look for other investors who believe in the product, rather than venture capitalists simply looking to make a quick return. Eric Schmidt, the former CEO of Google, is also a Nebia backer, through the Schmidt Family Foundation. Nebia unveiled a new version of its shower system on Tuesday that is smaller and cheaper. It will cost $199, down from $499 for the current version. Winter asked Cook about four potential partnerships while developing the new model. Cook wasn’t keen about the first three, but supported a deal with faucet maker Moen because of its reputation, Winter said. To contact the author of this story: Mark Gurman in Los Angeles at email@example.comTo contact the editor responsible for this story: Alistair Barr at firstname.lastname@example.orgFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.