Roku plunges the most in over a year on concern of competitive threat from Disney, AT&T and others

Roku shares had their worst day in over a year Wednesday after analysts at Macquarie Research said the stock’s 2019 rally isn’t justified given the threat of competition from a host of larger media companies. Roku plunged more than 14 percent to $60.74, the steepest drop since February 2018, and the third-biggest decline since the company went public in 2017. Even after the slump, Roku shares have almost doubled this year. Analysts at Macquarie downgraded the stock Wednesday to neutral, saying i


Roku shares had their worst day in over a year Wednesday after analysts at Macquarie Research said the stock’s 2019 rally isn’t justified given the threat of competition from a host of larger media companies. Roku plunged more than 14 percent to $60.74, the steepest drop since February 2018, and the third-biggest decline since the company went public in 2017. Even after the slump, Roku shares have almost doubled this year. Analysts at Macquarie downgraded the stock Wednesday to neutral, saying i
Roku plunges the most in over a year on concern of competitive threat from Disney, AT&T and others Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-13  Authors: lauren feiner, stephen desaulniers, source
Keywords: news, cnbc, companies, video, macquarie, plunges, thirdbiggest, worst, roku, analysts, valuation, att, went, shares, threat, concern, competitive, disney


Roku plunges the most in over a year on concern of competitive threat from Disney, AT&T and others

Roku shares had their worst day in over a year Wednesday after analysts at Macquarie Research said the stock’s 2019 rally isn’t justified given the threat of competition from a host of larger media companies.

Roku plunged more than 14 percent to $60.74, the steepest drop since February 2018, and the third-biggest decline since the company went public in 2017.

Even after the slump, Roku shares have almost doubled this year. Analysts at Macquarie downgraded the stock Wednesday to neutral, saying it’s at “a full valuation,” and that the ad-supported video on demand (AVOD) space is becoming intensely competitive.


Company: cnbc, Activity: cnbc, Date: 2019-03-13  Authors: lauren feiner, stephen desaulniers, source
Keywords: news, cnbc, companies, video, macquarie, plunges, thirdbiggest, worst, roku, analysts, valuation, att, went, shares, threat, concern, competitive, disney


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Roku plunges the most in over a year on concern of competitive threat from Disney, AT&T and others

Roku shares had their worst day in over a year Wednesday after analysts at Macquarie Research said the stock’s 2019 rally isn’t justified given the threat of competition from a host of larger media companies. Roku plunged more than 14 percent to $60.74, the steepest drop since February 2018, and the third-biggest decline since the company went public in 2017. Even after the slump, Roku shares have almost doubled this year. Analysts at Macquarie downgraded the stock Wednesday to neutral, saying i


Roku shares had their worst day in over a year Wednesday after analysts at Macquarie Research said the stock’s 2019 rally isn’t justified given the threat of competition from a host of larger media companies. Roku plunged more than 14 percent to $60.74, the steepest drop since February 2018, and the third-biggest decline since the company went public in 2017. Even after the slump, Roku shares have almost doubled this year. Analysts at Macquarie downgraded the stock Wednesday to neutral, saying i
Roku plunges the most in over a year on concern of competitive threat from Disney, AT&T and others Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-13  Authors: lauren feiner, stephen desaulniers, source
Keywords: news, cnbc, companies, video, macquarie, plunges, thirdbiggest, worst, roku, analysts, valuation, att, went, shares, threat, concern, competitive, disney


Roku plunges the most in over a year on concern of competitive threat from Disney, AT&T and others

Roku shares had their worst day in over a year Wednesday after analysts at Macquarie Research said the stock’s 2019 rally isn’t justified given the threat of competition from a host of larger media companies.

Roku plunged more than 14 percent to $60.74, the steepest drop since February 2018, and the third-biggest decline since the company went public in 2017.

Even after the slump, Roku shares have almost doubled this year. Analysts at Macquarie downgraded the stock Wednesday to neutral, saying it’s at “a full valuation,” and that the ad-supported video on demand (AVOD) space is becoming intensely competitive.


Company: cnbc, Activity: cnbc, Date: 2019-03-13  Authors: lauren feiner, stephen desaulniers, source
Keywords: news, cnbc, companies, video, macquarie, plunges, thirdbiggest, worst, roku, analysts, valuation, att, went, shares, threat, concern, competitive, disney


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Mark Zuckerberg raises a key concern around Facebook’s Portal

Even Facebook CEO Mark Zuckerberg seems to get why consumers might find its Portal creepy. In the first of a series of discussions on technology of society Zuckerberg had as part of his annual personal challenge, Zuckerberg appeared to unwittingly concede the key criticism of Facebook’s new video calling device. Harvard Law Professor Jonathan Zittrain, who hosted the discussion, pointed out that Facebook’s Portal is quite literally a camera in people’s living rooms. Laughing, Zuckerberg said, “T


Even Facebook CEO Mark Zuckerberg seems to get why consumers might find its Portal creepy. In the first of a series of discussions on technology of society Zuckerberg had as part of his annual personal challenge, Zuckerberg appeared to unwittingly concede the key criticism of Facebook’s new video calling device. Harvard Law Professor Jonathan Zittrain, who hosted the discussion, pointed out that Facebook’s Portal is quite literally a camera in people’s living rooms. Laughing, Zuckerberg said, “T
Mark Zuckerberg raises a key concern around Facebook’s Portal Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-20  Authors: lauren feiner, tony avelar, bloomberg, getty images, magdalena petrova
Keywords: news, cnbc, companies, key, living, facebooks, society, raises, portal, facebook, peoples, series, video, privacy, zuckerberg, mark, concern


Mark Zuckerberg raises a key concern around Facebook's Portal

Even Facebook CEO Mark Zuckerberg seems to get why consumers might find its Portal creepy.

In the first of a series of discussions on technology of society Zuckerberg had as part of his annual personal challenge, Zuckerberg appeared to unwittingly concede the key criticism of Facebook’s new video calling device.

While talking about his desire to build more end-to-end encryption in Facebook’s services, Zuckerberg said, “I basically think that if you want to talk in metaphors, messaging is like people’s living room, and we definitely don’t want a society where there’s a camera in everyone’s living room.”

Harvard Law Professor Jonathan Zittrain, who hosted the discussion, pointed out that Facebook’s Portal is quite literally a camera in people’s living rooms.

Laughing, Zuckerberg said, “That is I guess… yeah. Although that would be encrypted.”

When Facebook debuted its Portal in November, the tech community immediately raised privacy concerns about giving Facebook a window into the home after a series of privacy stumbles and had been revealed over the past year.

Subscribe to CNBC on YouTube.

Watch: Facebook Portal review — great for video calls but lacks compelling features


Company: cnbc, Activity: cnbc, Date: 2019-02-20  Authors: lauren feiner, tony avelar, bloomberg, getty images, magdalena petrova
Keywords: news, cnbc, companies, key, living, facebooks, society, raises, portal, facebook, peoples, series, video, privacy, zuckerberg, mark, concern


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Mark Zuckerberg raises a key concern around Facebook’s Portal

Even Facebook CEO Mark Zuckerberg seems to get why consumers might find its Portal creepy. In the first of a series of discussions on technology of society Zuckerberg had as part of his annual personal challenge, Zuckerberg appeared to unwittingly concede the key criticism of Facebook’s new video calling device. Harvard Law Professor Jonathan Zittrain, who hosted the discussion, pointed out that Facebook’s Portal is quite literally a camera in people’s living rooms. Laughing, Zuckerberg said, “T


Even Facebook CEO Mark Zuckerberg seems to get why consumers might find its Portal creepy. In the first of a series of discussions on technology of society Zuckerberg had as part of his annual personal challenge, Zuckerberg appeared to unwittingly concede the key criticism of Facebook’s new video calling device. Harvard Law Professor Jonathan Zittrain, who hosted the discussion, pointed out that Facebook’s Portal is quite literally a camera in people’s living rooms. Laughing, Zuckerberg said, “T
Mark Zuckerberg raises a key concern around Facebook’s Portal Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-20  Authors: lauren feiner, tony avelar, bloomberg, getty images, magdalena petrova
Keywords: news, cnbc, companies, key, living, facebooks, society, raises, portal, facebook, peoples, series, video, privacy, zuckerberg, mark, concern


Mark Zuckerberg raises a key concern around Facebook's Portal

Even Facebook CEO Mark Zuckerberg seems to get why consumers might find its Portal creepy.

In the first of a series of discussions on technology of society Zuckerberg had as part of his annual personal challenge, Zuckerberg appeared to unwittingly concede the key criticism of Facebook’s new video calling device.

While talking about his desire to build more end-to-end encryption in Facebook’s services, Zuckerberg said, “I basically think that if you want to talk in metaphors, messaging is like people’s living room, and we definitely don’t want a society where there’s a camera in everyone’s living room.”

Harvard Law Professor Jonathan Zittrain, who hosted the discussion, pointed out that Facebook’s Portal is quite literally a camera in people’s living rooms.

Laughing, Zuckerberg said, “That is I guess… yeah. Although that would be encrypted.”

When Facebook debuted its Portal in November, the tech community immediately raised privacy concerns about giving Facebook a window into the home after a series of privacy stumbles and had been revealed over the past year.

Subscribe to CNBC on YouTube.

Watch: Facebook Portal review — great for video calls but lacks compelling features


Company: cnbc, Activity: cnbc, Date: 2019-02-20  Authors: lauren feiner, tony avelar, bloomberg, getty images, magdalena petrova
Keywords: news, cnbc, companies, key, living, facebooks, society, raises, portal, facebook, peoples, series, video, privacy, zuckerberg, mark, concern


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Japan’s 10-day holiday stirs concern in traders and investors

To mark the ascension of Japan’s new emperor, the government has declared an unprecedented 10-day holiday from late April to early May, worrying investors, who say a market shutdown could cause disruption and unsettle the yen. Japan usually has a string of public holidays from late April to early May, the so-called the “Golden Week.” U.S. financial markets closed for six days after the attacks on Sept. 11, 2001. “In 10 days, we can be in a completely different world,” said a currency trader at a


To mark the ascension of Japan’s new emperor, the government has declared an unprecedented 10-day holiday from late April to early May, worrying investors, who say a market shutdown could cause disruption and unsettle the yen. Japan usually has a string of public holidays from late April to early May, the so-called the “Golden Week.” U.S. financial markets closed for six days after the attacks on Sept. 11, 2001. “In 10 days, we can be in a completely different world,” said a currency trader at a
Japan’s 10-day holiday stirs concern in traders and investors Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-30  Authors: jiji press, afp, getty images
Keywords: news, cnbc, companies, japanese, concern, late, stirs, investors, say, traders, 10day, markets, holidays, market, shutdown, days, holiday, financial, bank, japans


Japan's 10-day holiday stirs concern in traders and investors

To mark the ascension of Japan’s new emperor, the government has declared an unprecedented 10-day holiday from late April to early May, worrying investors, who say a market shutdown could cause disruption and unsettle the yen.

Japan usually has a string of public holidays from late April to early May, the so-called the “Golden Week.”

But this year, with Crown Prince Naruhito’s being crowned the new emperor on May 1, the government made the entire period from April 27 to May 6 a market holiday.

It will be the longest break ever for Japanese stocks and bonds.

Major financial centres rarely have such long periods of shutdown. U.S. financial markets closed for six days after the attacks on Sept. 11, 2001.

“It’s horrifying that we can’t trade for six business days. We’ve got to adjust our positions before the week. Hard to say exactly what I will do then, but I’ll probably have to make my position neutral before the holidays,” said Yasuo Sakuma, chief investment officer at Libra Investments.

Japan’s financial watchdog has told all financial institutions to alert customers about the possibility of turbulence in overseas markets during the shutdown, and to make sure their systems can cope with a flurry of activity before and after, documents obtained by Reuters showed.

The U.S. and U.K. central banks will hold policy meetings during the Japanese holiday; U.S. payroll data, GDP from the United States and the Eurozone, and corporate earnings around the world will also be released.

“In 10 days, we can be in a completely different world,” said a currency trader at a major Japanese bank.

Currency traders at the country’s biggest banks and insurers, such as MUFG Bank, Sumitomo Mitsui Bank, Mizuho Bank and Nippon Life Insurance, are equipped to work either at home or in the office during holidays, markets players say.

But they added it might be tougher to deal with more complex products, such as derivatives, pricing of which usually requires in-house terminals.

Fund managers, meanwhile, say they will probably need to bring their positions to neutral by late April to avoid exposure to market swings.


Company: cnbc, Activity: cnbc, Date: 2019-01-30  Authors: jiji press, afp, getty images
Keywords: news, cnbc, companies, japanese, concern, late, stirs, investors, say, traders, 10day, markets, holidays, market, shutdown, days, holiday, financial, bank, japans


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Nervous investors cite Washington politics as top cause for concern

More investors are feeling jittery about the market. 1 concern is the political landscape in Washington. That’s according to the latest retail investor sentiment report released by Charles Schwab. The results are based on an online survey conducted in December, before the partial federal shutdown, which began on Dec. 22 and lasted for 35 days. President Donald Trump said over the weekend that another shutdown is “certainly an option.”


More investors are feeling jittery about the market. 1 concern is the political landscape in Washington. That’s according to the latest retail investor sentiment report released by Charles Schwab. The results are based on an online survey conducted in December, before the partial federal shutdown, which began on Dec. 22 and lasted for 35 days. President Donald Trump said over the weekend that another shutdown is “certainly an option.”
Nervous investors cite Washington politics as top cause for concern Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-28  Authors: lorie konish, jabin botsford, the washington post, getty images
Keywords: news, cnbc, companies, politics, cause, weekend, trump, report, investors, cite, washingtonthats, survey, concern, nervous, washington, sentiment, schwab, shutdown, retail, results


Nervous investors cite Washington politics as top cause for concern

More investors are feeling jittery about the market. And their No. 1 concern is the political landscape in Washington.

That’s according to the latest retail investor sentiment report released by Charles Schwab. The results are based on an online survey conducted in December, before the partial federal shutdown, which began on Dec. 22 and lasted for 35 days.

Lawmakers reached a deal on Friday to reopen the government until Feb. 15. President Donald Trump said over the weekend that another shutdown is “certainly an option.”


Company: cnbc, Activity: cnbc, Date: 2019-01-28  Authors: lorie konish, jabin botsford, the washington post, getty images
Keywords: news, cnbc, companies, politics, cause, weekend, trump, report, investors, cite, washingtonthats, survey, concern, nervous, washington, sentiment, schwab, shutdown, retail, results


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Credit Suisse strategist shares his top concern about current market conditions

“There’s total inconsistency in the underlying earnings data,” Jonathan Golub, chief equity strategist, said on “Fast Money.” The second is a drifting volatility index that has fallen almost 47 percent from its Christmas Eve close. The CBOE Volatility Index closed down Wednesday at 19.52. “As we have a VIX that moves towards 15 and below that, you’re going to have a market that’s going to continue to rally,” Golub said. I don’t think you’re going to get something in the middle,” Golub said.


“There’s total inconsistency in the underlying earnings data,” Jonathan Golub, chief equity strategist, said on “Fast Money.” The second is a drifting volatility index that has fallen almost 47 percent from its Christmas Eve close. The CBOE Volatility Index closed down Wednesday at 19.52. “As we have a VIX that moves towards 15 and below that, you’re going to have a market that’s going to continue to rally,” Golub said. I don’t think you’re going to get something in the middle,” Golub said.
Credit Suisse strategist shares his top concern about current market conditions Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-23  Authors: tyler clifford
Keywords: news, cnbc, companies, think, index, golub, credit, current, strategist, youre, concern, vix, upside, going, shares, conditions, thats, sp, volatility, suisse, market


Credit Suisse strategist shares his top concern about current market conditions

Here’s the one chart that points to more upside ahead, according to Credit Suisse 10 Hours Ago | 06:55

Credit Suisse’s top strategist told CNBC on Wednesday the one thing that he is most concerned about as markets stage a comeback.

“There’s total inconsistency in the underlying earnings data,” Jonathan Golub, chief equity strategist, said on “Fast Money.”

About 14 percent of S&P 500 companies have reported fourth-quarter results thus far. Nearly three in four of those companies beat earnings estimates, but just about three in five topped sales forecasts. Profits were up 13 percent, but that’s the slowest growth since fourth-quarter 2017.

“The revenues are knock-the-lights-out good, and the margins are horrifically bad, based on Wall Street consensus expectations,” Golub said.

Still, Golub said there are two positives injecting faith in the market.

The first is that the Federal Reserve has finished raising interest rates in this cycle. “That’s what the market believes, and I think the market’s going to be right,” he said.

The second is a drifting volatility index that has fallen almost 47 percent from its Christmas Eve close. The CBOE Volatility Index closed down Wednesday at 19.52.

“As we have a VIX that moves towards 15 and below that, you’re going to have a market that’s going to continue to rally,” Golub said.

There can be challenges if the VIX rises again, because that’s when investors tend to sell off, which explains the fourth quarter, he added. Last year was the worst year for stocks in a decade, which Golub said in December was unjustified and there could be a “big surprise” in 2019.

Golub has a year-end target of 2,925 for the S&P 500.

“I think that the way you play this is an option space either where this is going to be a much bigger return to the upside or this thing is going to get ugly. I don’t think you’re going to get something in the middle,” Golub said.

The S&P 500 saw a 5.80 bump on Wednesday, closing at 2,638.70. The index is up 5.26 this year.


Company: cnbc, Activity: cnbc, Date: 2019-01-23  Authors: tyler clifford
Keywords: news, cnbc, companies, think, index, golub, credit, current, strategist, youre, concern, vix, upside, going, shares, conditions, thats, sp, volatility, suisse, market


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Adidas CEO: Our biggest concern is Brexit’s impact on the European economy

The CEO of Adidas is sounding the alarm about Brexit’s impact on European consumers where the German sportswear maker does nearly a third of its business. In a sit-down with CNBC’s Sara Eisen on Tuesday, Kasper Rorsted said the company’s “biggest concern is really the European impact of a potential Brexit because it’s very often discussed as an isolated event, but it will have an overall impact on the European economy. Rorsted, who said sales slowed in Europe in 2018, urged British lawmakers to


The CEO of Adidas is sounding the alarm about Brexit’s impact on European consumers where the German sportswear maker does nearly a third of its business. In a sit-down with CNBC’s Sara Eisen on Tuesday, Kasper Rorsted said the company’s “biggest concern is really the European impact of a potential Brexit because it’s very often discussed as an isolated event, but it will have an overall impact on the European economy. Rorsted, who said sales slowed in Europe in 2018, urged British lawmakers to
Adidas CEO: Our biggest concern is Brexit’s impact on the European economy Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-22  Authors: tyler clifford, adam galica
Keywords: news, cnbc, companies, lawmakers, europe, ceo, weakening, european, impact, adidas, rorsted, british, economy, biggest, brexits, concern, economic, think


Adidas CEO: Our biggest concern is Brexit's impact on the European economy

The CEO of Adidas is sounding the alarm about Brexit’s impact on European consumers where the German sportswear maker does nearly a third of its business.

In a sit-down with CNBC’s Sara Eisen on Tuesday, Kasper Rorsted said the company’s “biggest concern is really the European impact of a potential Brexit because it’s very often discussed as an isolated event, but it will have an overall impact on the European economy.

“Europe is about 30 percent of our business. We’re getting most or entirely all of our growth outside Europe.”

Rorsted, who said sales slowed in Europe in 2018, urged British lawmakers to call for a second referendum on the U.K. leaving the European Union.

Last year he called it “the most unwise economic position Europe has taken in the last 30 years” and would harm consumers.

A deadline for the U.K.’s exit from the EU is less than three months away, but British lawmakers have yet to settle on a deal since the country voted in 2016 to leave the bloc.

“We think the best thing that could happen would be a revote on the Brexit,” Rorsted said from the World Economic Forum in Davos, Switzerland. “It is weakening the European economy. It’s weakening the English economy and we just think it’s a very, very bad decision that will have very severe consequences in the long term.”


Company: cnbc, Activity: cnbc, Date: 2019-01-22  Authors: tyler clifford, adam galica
Keywords: news, cnbc, companies, lawmakers, europe, ceo, weakening, european, impact, adidas, rorsted, british, economy, biggest, brexits, concern, economic, think


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Chinese growth is more of a concern than the American economy right now, private bank says

The Chinese economy is a bigger worry right now than the U.S. economy, according to an investments expert at a private bank. Still, he ultimately expressed optimism that China’s leaders will keep their economy together. “The Chinese economy is, at the moment, a bigger cause of concern right now compared to the U.S. economy,” Brill told CNBC’s “Squawk Box.” Adding the tariff battle between the two largest economies just means growth will be “a bit more difficult” for Beijing, he noted. “This is s


The Chinese economy is a bigger worry right now than the U.S. economy, according to an investments expert at a private bank. Still, he ultimately expressed optimism that China’s leaders will keep their economy together. “The Chinese economy is, at the moment, a bigger cause of concern right now compared to the U.S. economy,” Brill told CNBC’s “Squawk Box.” Adding the tariff battle between the two largest economies just means growth will be “a bit more difficult” for Beijing, he noted. “This is s
Chinese growth is more of a concern than the American economy right now, private bank says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-11  Authors: everett rosenfeld, lintao zhang, pool, getty images
Keywords: news, cnbc, companies, chinas, brill, cause, bigger, economy, chinese, private, right, concern, american, term, growth, bank, short


Chinese growth is more of a concern than the American economy right now, private bank says

The Chinese economy is a bigger worry right now than the U.S. economy, according to an investments expert at a private bank.

Speaking to CNBC on Friday, Felix Brill, the head of investment solutions at Liechtenstein-based VP Bank, said investors should expect more market volatility due to the ongoing trade war negotiations between Washington and Beijing. Still, he ultimately expressed optimism that China’s leaders will keep their economy together.

“The Chinese economy is, at the moment, a bigger cause of concern right now compared to the U.S. economy,” Brill told CNBC’s “Squawk Box.”

He added that there are “clear signs” that China’s economy is slowing in the short term, and there may be more dragging on the nation as it looks to transition its economic model from one led by exportation to a more consumption-driven approach. Adding the tariff battle between the two largest economies just means growth will be “a bit more difficult” for Beijing, he noted.

But, Brill said, that doesn’t mean China won’t be able to push through those challenges.

“This is some cause for concern in the short term, but I’m confident that the Chinese authorities, again, will step in and implement additional measures to support the economy,” he said.


Company: cnbc, Activity: cnbc, Date: 2019-01-11  Authors: everett rosenfeld, lintao zhang, pool, getty images
Keywords: news, cnbc, companies, chinas, brill, cause, bigger, economy, chinese, private, right, concern, american, term, growth, bank, short


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Larry Kudlow didn’t go far enough in expressing concern about China’s theft of Apple’s tech

Larry Kudlow, President Trump’s economic adviser, suggested on Friday that China was stealing intellectual property and trade secrets from Apple, which may be contributing to the iPhone maker’s financial challenges in the country. However, he hedged a bit: “I don’t want to surmise too much here, but Apple technology may have been picked off by China and now China is becoming very competitive with Apple,” Kudlow said. Because China is clearly taking Apple’s IP and trade secrets and that fact is m


Larry Kudlow, President Trump’s economic adviser, suggested on Friday that China was stealing intellectual property and trade secrets from Apple, which may be contributing to the iPhone maker’s financial challenges in the country. However, he hedged a bit: “I don’t want to surmise too much here, but Apple technology may have been picked off by China and now China is becoming very competitive with Apple,” Kudlow said. Because China is clearly taking Apple’s IP and trade secrets and that fact is m
Larry Kudlow didn’t go far enough in expressing concern about China’s theft of Apple’s tech Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-04  Authors: kate fazzini, aly song
Keywords: news, cnbc, companies, tech, expressing, engineer, denied, apples, theft, china, didnt, far, chinas, stealing, larry, ip, concern, apple, kudlow, companies, secrets, trade


Larry Kudlow didn't go far enough in expressing concern about China's theft of Apple's tech

Larry Kudlow, President Trump’s economic adviser, suggested on Friday that China was stealing intellectual property and trade secrets from Apple, which may be contributing to the iPhone maker’s financial challenges in the country.

However, he hedged a bit: “I don’t want to surmise too much here, but Apple technology may have been picked off by China and now China is becoming very competitive with Apple,” Kudlow said.

That was diplomatic of him. Because China is clearly taking Apple’s IP and trade secrets and that fact is most certainly damaging the company’s business.

This isn’t a new problem, and companies know that, to some degree, it’s the price of doing business in the world’s second-biggest economy. Apple is at particular risk because of its large exposure to China and because of the country’s increasingly sophisticated manufacturing sector. Last year, China’s Huawei surpassed Apple in shipments of smartphones.

U.S. intelligence agencies and the Justice Department have laid out a long list of the types of concerted hacking and spying campaigns used by China to steal the IP of U.S. tech companies. China and its companies have strongly denied most of these claims over the years, making it hard for U.S. companies to take action. For example, a former Apple engineer was arrested in 2018 and charged with stealing self-driving car secrets. The engineer has denied the claims and pleaded not guilty in a California court.


Company: cnbc, Activity: cnbc, Date: 2019-01-04  Authors: kate fazzini, aly song
Keywords: news, cnbc, companies, tech, expressing, engineer, denied, apples, theft, china, didnt, far, chinas, stealing, larry, ip, concern, apple, kudlow, companies, secrets, trade


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