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In its latest attempt to build market credibility, China on Monday launched the Science and Technology Innovation Board, or "STAR Market," on which 25 companies were listed.China Economyread more
When Cathy Hsu and Tony Hsieh wanted to build an English language app for Chinese children, they decided to follow Facebook and Google's lead.Start-upsread more
Stocks in Asia traded lower on Monday afternoon, as a Nasdaq-style technology board on the Shanghai Stock Exchange marked its debut.Asia Marketsread more
Instagram began tests that hide "like" counts on posts. That means influencers who market products on Instagram will have to rely on different metrics to show success.Technologyread more
Peter Neupert worked for Microsoft and Amazon-backed Drugstore.com, where he got to know Jeff Bezos. He now advises start-ups.Technologyread more
The firing of the tear gas was the latest confrontation between police and protesters who have taken to the streets for over a month to fight a proposed extradition bill and...China Politicsread more
Last week shows that oil prices are not the indicator for Middle East tensions they once were, and worries about global demand and growing U.S. production has changed that...Market Insiderread more
Facebook Vice President David Marcus is the face of the company's Libra digital currency, but the original driving force was a 26-year-old female corporate-development...Technologyread more
Investors should buy Apple shares because the more expensive iPhone 8 launching later this year will drive earnings above expectations, according to Goldman Sachs, which reiterated its buy rating.
"The first $1,000 iPhone can drive meaningful upside," analyst Simona Jankowski wrote in a note to clients Thursday. "The bottom line is that we are raising our FY18/19 EPS estimates further above consensus. … While our FY18 iPhone unit estimate is relatively in-line (GSe 243mn vs. consensus at 242mn), we see significant upside in iPhone ASPs [average selling prices]."
She raised her Apple price target to $170 from $164, representing 10 percent upside from Thursday's close.
Jankowski expects the new iPhone 8 will offer premium features such as a 5.8-inch OLED display and 3-D sensing augmented reality technology. She predicts Apple will sell the 128 GB and 256 GB storage iPhone 8 models for $999 and $1,099, respectively, compared with the $749 price of the current 128 GB iPhone 7.
As a result, Jankowski estimates fiscal 2018 iPhone average selling prices will rise 16 percent year over year to $763 versus the $675 Wall Street consensus. She raised her Apple fiscal 2018 earnings-per-share forecast to $11.50 from $11.00 versus the Street average of $10.40.
"We think the higher demand for the larger (5.8") form factor will be supported by the fact that the iPhone 8 will have compelling new features not available in the smaller form factors," she wrote.