GE is currently the worst performing stock in the Dow Jones Industrial Average this year, and by a pretty wide margin. Typically, the worst performing stock in the Dow one year has a nice snap-back performance the following year. Should you buy it or dump it?
A rock is thrown at Australia’s team bus, smashing a window, after their T20 international win against India.
A high-ranking Department of Justice official took aim at encryption of consumer products today, saying that encryption creates “law-free zones” and should be scaled back by Apple and other tech companies. Instead of encryption that can’t be broken, tech companies should implement “responsible encryption” that allows law enforcement to access data, he said.
“Warrant-proof encryption defeats the constitutional balance by elevating privacy above public safety,” Deputy Attorney General Rod Rosenstein said in a speech at the US Naval Academy today (transcript). “Encrypted communications that cannot be intercepted and locked devices that cannot be opened are law-free zones that permit criminals and terrorists to operate without detection by police and without accountability by judges and juries.”
Rosenstein was nominated by President Donald Trump to be the DOJ’s second-highest-ranking official, after Attorney General Jeff Sessions. He was confirmed by the Senate in April.
Amid an ongoing decline in worldwide PC shipments, Apple’s Mac shipments also experienced a decline in the third quarter of 2017 according to new PC shipping estimates shared this afternoon by Gartner. In Q3 2017, Apple shipped an estimated 4.6 million Macs worldwide, down from 4.89 million in the year-ago quarter, marking a 5.6 percent decline in growth.
Apple’s market share for the quarter comes in at 6.9 percent, down from 7 percent in the third quarter of 2016. Apple was ranked the number five worldwide PC vendor after HP, Lenovo, Dell, and Asus. Apple was also the number five worldwide PC vendor in 3Q 2016, but the company has dropped from number four since Q2 2017.
Aside from HP, all PC vendors saw a drop in shipments. HP shipped an estimated 14.6 million PCs during the quarter for 4.4 growth and 21.8 percent market share, while Lenovo shipped an estimated 14.4 million PCs for 21.4 percent market share. Dell shipped an estimated 10 million PCs for 15.2 percent market share, while Asus shipped 4.9 million PCs for 7.7 percent market share. Acer trailed after Apple with 4.3 million PCs shipped and 6.5 percent market share.
According to Gartner, ongoing DRAM shortages worsened during the third quarter of 2017, impacting sales and leading to an overall PC shipment decline of 3.6 percent. Worldwide PC shipments totaled 67 million across vendors, down from 69.5 million in Q3 2016, marking 12 consecutive quarters of declining PC shipments.
“The component price hike impacted the consumer PC market as most vendors generally pass the price hike on to consumers, rather than absorbing the cost themselves,” Ms. Kitagawa said. “We expect the DRAM shortage to continue to the end of 2018, but it will not be reflected in the final PC prices immediately.”
Apple’s U.S. numbers mirror its worldwide numbers. In the United States, Apple shipped an estimated 1.9 million Macs, a 7.6 percent decline from the 2 million shipped in Q3 2016.
U.S. PC shipments totaled 14.7 million units during the quarter, down from 16.4 million for an overall decline of 10.3 percent. Apple was ranked the number three PC vendor in the United States with 12.8 percent market share. HP and Dell both beat out Apple with shipments of 4.7 and 3.8 million PCs, respectively.
IDC also released its own shipment estimates this afternoon, noting a smaller 0.5 percent decline in overall worldwide PC shipments. IDC’s worldwide shipping estimates are quite a bit different than Gartner’s this quarter, with IDC estimating worldwide Mac shipments of 4.9 million, up slightly from 4.89 million in the year-ago quarter for a growth increase of 0.3 percent.
IDC ranks Apple as the number four PC vendor, above ASUS and below HP, Lenovo, and Dell. IDC and Gartner’s data often varies due to the different ways each firm makes its shipment calculations.
It’s important to note that data from Gartner and IDC is preliminary and the numbers can shift, sometimes dramatically and sometimes less so. Last year, for example, Gartner estimated shipments of 4.95 million Macs, but the actual number was 4.89 million.
Apple last refreshed its Mac notebook and iMac lineup in June of 2017, and the company has plans to release a new iMac Pro in December, which could lead to an uptick in shipments if it proves popular with pro users.
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Global growth, which in 2016 was the weakest since the global financial crisis at 3.2 percent, is projected to rise to 3.6 percent in 2017 and to 3.7 percent in 2018–0.1 percentage point higher in both years than in the April and July forecasts, according to the latest International Monetary Fund report.
The Dow Jones newswire rattled markets on Tuesday by publishing a clearly fake story claiming that Google was buying Apple. The story claimed that Apple founder Steve Jobs put the purchase price—an absurdly small $9 billion—in his will.
Dow Jones blamed a “technical error” and quickly retracted the story.
“Please disregard the headlines that ran on Dow Jones Newswires between 9:34 am ET and 9:36 am ET,” the news wire said in a statement.