The company's S-1 lays the groundwork for what is widely expected to be one of the largest initial public offerings of the year, second only to Uber's IPO in May. It's also...Technologyread more
Fraud investigator Harry Markopolos' accusations extended beyond GE's management to actuaries, auditors and analysts who he claims overlooked billions in liabilities.Marketsread more
Trump's tweet comes a day after Apple put out a press release describing the money it spends on U.S.-based suppliers and vendors.Technologyread more
CNBC combed through Wall Street research to see which stocks are still a buy after their earnings reports.Marketsread more
President Donald Trump held a call on Wednesday with the CEOs of three major U.S. banks, according to people with knowledge of the situation.Marketsread more
Despite aggressive strides, Waymo needs one thing before their self-driving cars become a seriously useful transportation system: people. We talked to the ones closest to it.Technologyread more
Scientists say the smoke plumes, filled with megatons of tiny, harmful particles, could travel to other areas of the world and cause serious respiratory problems for people.Weather & Natural Disastersread more
Some Weight Watchers loyalists applaud Kurbo by WW. But nutritionists worry Kurbo promotes an unhealthy relationship with food during an especially impressionable time.Health and Scienceread more
Benefits from what President Trump called "the biggest reform of all time" to the tax code have dwindled to a faint breeze just 20 months after its enactment, writes John...Politicsread more
Epstein, 66, was found in his cell in Manhattan federal lockup Saturday morning and transferred to a nearby hospital, where he was subsequently pronounced dead.Politicsread more
Air travelers faced delays at U.S. airports on Friday afternoon after a computer issue snarled processing of international arrivals.Airlinesread more
Apple may soon be a serious buyer of gold, according to estimates of how much yellow metal will be required for the 18-carat luxury version of the hotly anticipated Apple Watch.
Each gold edition of the Apple Watch could contain two ounces of the precious metal according to estimates—meaning that Apple could use 746 metric tons of gold per year, equating to one-third of the total annual global mine supply, according to bullion dealer GoldCore.
That's based on estimates that Apple has ordered between five and six million units of smartwatches from its manufacturers.
"Around one-third of the order will be made up of the mid-range watch, leaving an estimated one-sixth of the order to be comprised of the gold edition," said research director of GoldCore, Mark O'Byrne, in a research note on Friday. A further half of the order is expected to be for the entry-level "Sports" model.
The Apple Watch is seen being unveiled on Monday at the tech giant's "Spring Forward" event in San Francisco, before going on sale in April.
The gold version, called Apple Watch Edition, is expected to retail at between $4,000 and $10,000, while the Sports model will likely sell for $349.
O'Byrne said that if each Apple Watch Edition required two ounces of gold—which is likely if the watch has a gold bracelet in place of a strap—it would cost Apple roughly $2,400 per phone to produce.
According to Apple, each watch case for the Apple Watch Edition is crafted from 18-carat gold that is twice as hard as "standard gold." The display is protected by sapphire crystal, to which the "exquisitely designed strap provides a striking complement."
Despite the hype, O'Byrne said that Apple's reported expectation to shift one million units of the Edition model would be "a tall order."
"In the end it will probably come down to the price. Even at the lower-end (selling price) estimate of $4,000, it's hard to imagine Apple shifting one million units each month," O'Byrne said.
"However, Apple's ability to generate a buzz or hype, depending on your perspective, cannot be under-estimated," he later added.
Traditionally viewed as a "safe haven" investment against economic uncertainty, bullion prices fell close to a two-month low on Friday after official U.S. employment data beat market expectations. Gold for April delivery tumbled around 2.7 percent to trade at $1,164, as the U.S. dollar surged past an 11-year high against a basket of currencies.