Tag Archives: finance

Springtomize Dev Releases Exquisitely Beautiful Non-Jailbreak Finance App For iPhone

Balances-iPhone

Filippo Bigarella is best known for being the developer of some of the most popular jailbreak tweaks for iOS, including Springtomize, LivelyIcons, and PasswordPilot Pro. But he’s just launched his first official iPhone app through the App Store.

It’s called Balances, and it’s a wonderfully simply finance app with a gorgeous interface that’ll help you keep track of the money you owe and the money owed to you.

When you leave your wallet at home and you have to borrow money from friends to pay for your movie ticket, take a couple of seconds — that’s literally all it takes — to enter it into Balances and you’ll remember to pay it back when you get home.

Do the same for money you lend out and you won’t forget who owes you cash.

When you’ve paid back the money you owe, or received money owed to you, simply swipe the balance off of your list and it’ll be added to your “completed balances” list, where you can keep track of all the money you’ve paid and received.

Screen Shot 2013-05-17 at 17.05.00

That’s pretty much all there is to Balances, which is why it’s super simply and easy to use. It also looks great — as you can see from the screenshots above — and it’s completely free. Check it out for yourself by downloading it from the App Store.

Source: App Store

    



iPhone 4 owners begin receiving their $15 ‘Antennagate’ settlement checks from Apple

Check-iphone-4-settlement.

Payday has come for some of the first responders to the iPhone 4 class action lawsuit.  Last February a settlement was reached that granted iPhone 4 owners who had not previously received a free bumper for their “defective” iPhones a $15 payout.  Several of our readers are now reporting that they received their settlement checks today.  The first checks were issued on April 17 2013 and are void after July 16th.  Unfortunately the deadline for submitting a claim has passed so if you missed out the first time around it seems you are out of luck.

In case you forgot, the settlement found:

Apple was “misrepresenting and concealing material information in the marketing, advertising, sale, and servicing of its iPhone 4–particularly as it relates to the quality of the mobile phone antenna and reception and related software.”

Apple paid out a total of $53 million in the settlement, which was lawyers took a hefty $16M chunk.



Wall Street: Apple Will Post First Quarter Of Negative Income Compared To Year Ago In Ten Years

revenue-eps-growth-rates1

The consensus on Wall Street seems to be unanimous: for the first time in decade, Apple will report lower income this quarter than it did the year before. But don’t panic: even Wall Street doesn’t think Apple’s era of profitability and innovation is at an end.

Fortune reports that the current consensus on Wall Street is that Apple’s estimated earnings per share for Q1 2013 will be around $10.18, down from $12.30 in Q2 2012. If you want to know why Apple stock just keeps plummeting, there’s your reason
(although Fortune’s Philip Elmer-Dewitt says “the smart money has been pouring back into the coimpany for the past three weeks.”)

Why are earnings per share projected to be down? Well, mostly, it has to do with the fact that Apple refreshed pretty much every product it had in Q1.

The problem for Apple is not that its business is collapsing. Indeed, the projected revenues of $41 to $43 billion Apple offered analysts in its quarterly guidance would represent another record second quarter for the company.

Rather, it’s what analysts call a “tough compare” in terms of gross margins — a measure of the efficiency with which a company turns revenue into profits. Last year at this time Apple’s gross margin peaked at an extraordinary 47.37%. This year, following the introduction of a slew of new products — including new Macs, iPhones and iPads — it is projecting gross margins somewhere between 37.5% and 38.5%. That’s what’s driving the income down. Wall Street seems to be betting that in the next six to 12 months, those numbers have nowhere to go but up.

In other words, Apple is innovating so quickly and releasing such advanced products across the board at such an aggressive rate that it’s maximizing profit on them less quickly than a year ago. If Apple had a more staggered release schedule right now, their earnings-per-share would still be pretty high, if not higher than a year ago.

The good news here is that the landslide of AAPL share price might soon be at an end… following the release of a slate of new and exiting 2013 Apple products.

Source: Posts at Eventide
Via: Fortune




iPhone Sales Last Quarter Could Have Exceeded Expectations Thanks To iPhone 5

Guess what? The iPhone’s still a big seller.

The iPhone 5 has been a sell-out since it went on sale on September 21, and it’s still incredibly difficult to get hold of in some markets even a month later. With five million units sold, it’s the fastest-selling iPhone to date, so it’s no surprise one analyst is predicting that iPhone sales could be even better than originally expected.

Based on the number of iPhones Verizon activated last quarter, Piper Jaffray analyst Gene Munster believes that non-iPhone 5 sales could be stronger that anticipated.

The carrier announced on Thursday that it activated 3.1 million iPhones during Q3 2012, which is 15% more than it activated during the previous quarter, and higher than the 2.5 million units predicted by Piper Jaffray. 651,000 of those iPhones were iPhone 5s.

Munster called these numbers “a positive read for Apple.” However, he also noted that he expects non-iPhone 5 sales to decline 35% year-on-year, leading to a 4% drop in total iPhone sales for the third quarter. Munster expects Apple to have sold 25 million iPhones in total.

Other analysts feel differently. CNET reports that a poll of analysts conducted by Fortune found forecasts ranging from as little as 21 million to as many as 32.3 million. In comparison, Apple sold 17 million iPhones in the third quarter last year, and 37 million in the fourth.

iPhone 5 sales are expected to rocket even higher in the fourth quarter, which includes the lucrative holiday period, and Munster predicts sales of around 49 million units. However, supply constraints could hold things back, which may mean that prediction is a little optimistic.

Apple will report its Q3 2012 earnings on October 25.

Source: CNET





The Mysterious Company That Manages Apple’s Cash Hoard Is The World’s Largest Hedge Fund

Apple has a cash hoard that is worth more than one hundred and ten billion dollars, but that money doesn’t just sit in a bank collecting interest. Apple invests it, using a Nevada-based asset management corporation called Braeburn Capital. And it might just be the world’s largest hedge fund.

Braeburn was founded in 2006 to help Apple deal with its cash problem, which at the time was only a comparatively paltry $10 billion. Six years later, it’s $117 billion, and growing every day. That beats the assets being managed by Ray Dalio’s Bridgewater, which only has $100 billion.

Despite the fact that Braeburn is so massive, though, little is known about it. The firm’s principals are all Apple men, including Apple’s VP & Treasurer Gary Wipfler. The Braeburn offices are located in Reno, Nevada, which allows Apple to shield those assets from tax officers in California. And Braeburn is a business in its own right: it’s made Apple more than $2.5 billion in interest and dividend income in the last six years.

The most interesting things about Braeburn, as pointed out by Zero Hedge, is that in two years, when Apple’s cash hoard grows to over $200 billion, it’s possible that Braeburn could make Apple “the best capitalized bank, mutual fund or asset manager in the world.”

Despite all of this, though, Braeburn doesn’t have to report much of its activities, since it is by its very nature a private investing fund, which means that it also doesn’t have a lot of the same prohibitions placed upon what kind of assets it can hold as other funds.

Zerohedge puts this into perspective:

Braeburn is not confied by the limitations of being a “long-only”, it is in its full right to hold any assets it feels like, up to and including CDS on housing, puts on Samsung, or Constant Maturity Swaps that pay if the 10 Year collapses. It just doesn’t have to report any of them.

Nobody knows: and that’s the beauty of Braeburn. It is the world’s largest hedge fund that is not really a hedge fund, nobody has heard of, and nobody knows just what assets it holds.

Head on over to Zerohedge for more; it’s a fascinating read even for finance laymen about one of the most mysterious businesses Apple takes part in.

Source: Zerohedge
Via: Reddit





Analyst: iPad Could Be Key To Rebuilding Trust In Financial Industries

Can the iPad help rebuild trust in the financial industry?

Can the iPad help finance, wealth management, and corporate banking companies rebuild a sense of trust with their customers after the global financial crisis? According to the analysts at Ovum, the answer is yes.

Analysts at the research firm released a note this week noting that the iPad (and tablets in general) is a perfect tool for the industries, which are often dominated by in-person “face-time” meetings.

Ovum notes that tablets offering a slick professional look, as well as tactile qualities, will help facilitate a more interactive experience.

The ability to hand an iPad or other tablet to customers, immediately update data in real time, and the added level of customer engagement compared to a laptop are all advantages in other industries and could be key factors in helping to rebuild financial relationships by giving them a more personal feel.

Rik Turner, senior analyst at Ovum and author of the report, described a sense of trust and personal contact as major tablet advantages.

The financial sector as a whole has come out of the global crisis with an urgent need to rebuild its credibility with a disillusioned public. In certain sub-verticals such as wealth management more “face-time” with the customer can help this rebuilding process.

One interesting argument from Ovum’s press release is that a tablet in itself may be a competitive advantage, particularly in meetings where a client works with multiple wealth management or corporate banking companies.

Furthermore, as most divide their assets up to be managed by different wealth management providers, a well-executed meeting carried out with the aid of a tablet may attract further business away from a competitor.

I’d posit that the iPad would most likely be a competitive advantage over any other tablet in such meetings because of the brand awareness of the iPad in both consumer and professional markets.

 

 





Per Share, Apple Stock Now Worth More Than Google

Apple’s market cap has been worth more for a while, but now even a single share of AAPL stock is worth more than Google’s, having reached that milestone today at 12:26PM EDT, as noted by Fortune’s Philip Elmer-Dewitt. Boom.





Wall Street Error Causes Apple Stock To Plunge By 9% In Just Seconds

AAPL isn't supposed to plunge like this.

Apple stock just keeps going up, up, up… except when some computer goes bananas, starts screaming “SELL SELL SELL” and all of Wall Street panics. Which is pretty much what happened earlier today, when Apple stock lost 9% of its value in just a blink of an eye.

There’s not much info on what happened yet, but according to Business Insider, AAPL stock was halted after it crashed 9% to $542.80 in a short time. Suspecting something was afoul, Wall Street took a look at things, and when the stock started trading again a little later, it opened back up at $598.39.

What happened? There are only theories, but the most likely explanation is that a trading error and a mistaken order to sell caused a chain reaction. As if Apple’s stock would plunge 9% after record iPad sales and the announcement of dividends.

[via MacRumors]





If You Use The New iPad’s Dictation Feature For Work, You Could Be Breaking The Law

Enabling dictation on the iPad means sending your voice and personal data to Apple

One of the feature on the new iPad is its dictation capabilities, a feature also available on the iPhone 4S (which also boasts Apple’s Siri virtual assistant feature). There are quite a few ways that high quality dictation and other speech to text capabilities could useful to professionals in many fields.

The problem is that in order to get that high quality dictation functionality, the new iPad and the iPhone 4S rely on Apple’s servers to do much of the work in turning your speech into text. More importantly, it isn’t just snippets of voice recordings that get sent to Apple. Personal data from your iPad or iPhone 4S gets uploaded as well and much of it remains associated with you and your device. That’s a general concern for most of us, but for professionals in regulated industries like healthcare or fields that require confidentiality like finance and legal professions, it becomes a critical privacy concern and may even break the law.

There are serious advantages for Apple doing speech to text processing in its data centers rather than in iOS on a mobile device. The biggest advantage is processing power. There’s no way an iPad or iPhone, no matter how advanced, will ever come close to that sheer computational ability. The arrangement also has another big advantage. It let’s Apple crowd source the speech samples of millions of users. Analyzing those samples let’s the system evolve and improve and become more accurate over time, particularly for different dialects and regional speech habits.

In addition to speech samples, however, enabling dictation or Siri involves uploading more than just what you say. The dictation terms that you agree to when you turn on the feature state pretty clearly that your iPad or iPhone will upload personal data including your contacts, your relationships to your contacts (things like husband, mother, boss and so on), and the names of songs in your music collection – things that remain tied to you and your device.

Those terms also say that your personal data will be deleted if you turn of the feature but that some of your voice recordings may be kept on file along with transcripts and diagnostic data about your device (including its hardware and iOS version), though they’ll be dissociated from identifying information about you.

From the point of view of Siri, it’s pretty obvious that Apple uses this personal data to translate something like “call mom” or “play some jazz” into actionable commands. That the new iPad includes this data in its terms probably means that it’s just a matter of time before Apple releases an update that enables Siri.

Regardless of the personal details, even using dictation can violate privacy laws and regulations and even just company policies. Ironically, this makes the feature a no-go for some professionals where it be a perfect solution like healthcare. A doctor dictating notes about a patient’s condition using a system that sends those notes off to Apple would easily violate HIPPA as well as some rules around Medicare/Medicaid reimbursement. That would be a violation in itself but it’s even worse if Apple might hang on to that data.

Unfortunately, there’s no easy way around this fact. If you work in a regulated industry or field where privacy policies need to be enforced, Apple’s dictation solution isn’t going to cut it. Even if you don’t work in such a field, the idea of business and device data residing on Apple’s servers indefinitely is still something that should give you pause when deciding whether or not to use dictation or Sire.





Quicken Finally Works With Lion But Is It Too Little, Too Late?

Intuit finally releases a Lion-compatible version of Quicken

When Lion was released last summer, there was a big outcry because Apple had decided to kill off Rosetta, the emulation engine that allowed Macs with Intel processors to run apps designed for Macs with Power PC processors. Apple’s position was that it had made the switch to Intel and stopped selling Power PC Macs five years earlier and it was time for users and developers to move on. Most developers did move on to releasing universal apps that could run on Macs with either processor or that were Intel-only.

One company that dragged its heals was Intuit, maker of the popular Quicken personal finance app. When Lion shipped, users of Quicken 2007, the most recent version, were faced with options that really weren’t that good: not upgrade to Lion, install a stripped down version called Quicken Essentials that was built for Intel Macs, run the Windows version of Quicken, or switch to a different app.

Obviously, this state of affairs didn’t make Quicken users particularly happy. Intuit tended to point the finger at Apple. Apple, which had given developers the tools to update their apps for Intel Macs five years earlier, didn’t change it’s position. Apple’s reasoning when it announced Lion wouldn’t support Rosetta was that developers had known this day was coming and should’ve been planning for it as soon as Apple announced the first Intel iMac and MacBook Pro in 2005.

If you’re a fan of the old adage “better late than never” and you’re a Quicken fan, you’ll be happy to know that Quicken has finally released a Lion-compatible version of Quicken 2007.

The new release doesn’t offer any new features. In fact, other than supporting Lion and Intel Macs, the release is essentially the same product that Intuit shipped five years ago – not something that bodes well for the future. As if to underscore that the product is rather out of date, users have the option to request it on a CD. It’s also available as a download for the same $14.99 price tag.

A statement on the company’s website says Intuit is committed to Mac and iOS as platforms but doesn’t indicate that it will be updating Quicken or creating an iOS version of it.

We are committed to supporting Apple products and our Mac customers. We are actively working on a personal finance solution for the iPad, as well as continuing to deliver the highly rated Mint.com iPhone application. In addition, we are evaluating options for Quicken Essentials for Mac.

That makes me think that Quicken users who haven’t already moved on to alternative finance apps may want to consider doing so.

 

 

More from Cult of Mac: