In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. Friedrich Nietzsche
Apple Pay will be available in Scandinavia and the Middle East for the first time. The digital wallet will be rolled out in the United Arab Emirates (UAE), Sweden and Denmark later this year, TechCrunch reported. The announcement was made during Apple’s (NASDAQ: AAPL) second-quarter 2017 earnings call.
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A shortage of parts might push the price on the most expensive Apple (NASDAQ: AAPL) smartphone; the iPhone 8 to $1,399 (€1,226.06), analyst John Gruber told CNBC. Gruber thinks the iPhone 8 base price will be $1,199 (€1,050.79) and the highest end model will cost $1,399 (€1.226.06).
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We might be seeing Netflix’s (NASDAQ: NFLX) future at Pandora. Like Pandora, Netflix has built up a vast digital distribution platform which it uses to distribute entertainment content it has to pay for.
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Apple is trying to clone Venmo for two big reasons. The first is that users of Apple Pay’s biggest competitor; Alphabet’s (NASDAQ: GOOG) Android Pay, can access PayPal accounts through that app. That means it might soon be possible use Venmo to send money via Android Pay.
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Android Pay is supported by 15 Russian Banks; including Alfa-Bank, Bank Okrtite, Sberbank, Raiffeisenbank, Tinkoff Bank and VTB24. It will also work with Russian payment services such as ASSIST and Payture.
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Tim Cook’s worst nightmare then would be Walmart accepting Alipay but saying no to Apple Pay.
That would be a real coup for Ant because Walmart operates 4,672 stores in the United States; including 3,522 supercenters and 660 Sam’s Clubs. It might also force Apple and Alphabet to add QR code to their mobile wallets.
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Tim Cook is hiding some important data about Apple Pay, for example he did not say how many users the digital wallet actually has. Cook’s omission of that important detail was deliberate; because it would show small Apple Pay’s footprint really is.
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The growth is driven by millennials who are more likely to use digital payment solutions such as Venmo and less likely to have traditional bank accounts or credit cards. These people can get through their days with electronic solutions and cash but still need to receive funds from home and send the occasional money order.
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Buffett likes Amazon and dislikes Walmart. Something that a lot of us stock geeks overlook is that Buffett has been bullish on Amazon for a long time. Uncle Warren has never been fond of the Everything Store’s stock, but he’s been investing in the company’s debt for a long time. He bought $98.3 million worth of its junk bonds back in 2003. Therefore Buffett was an Amazon bull long before it was fashionable. He’s also on record as a Jeff Bezos fan.
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Among other things; that indicates Apple’s business model and income might not be sustainable on a long-term basis. Some major changes to the company such as new products might be needed for long term growth. That justifies experiments like Apple Pay and the Apple car project.
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