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You’ll Never See The World The Same Way Again
Bloomberg sources say Apple’s (NASDAQ:AAPL) 5G iPhones are currently on schedule for a fall launch, but that’s partly because mass production was always scheduled to start in May.
Apple assemblers in China were partially operating in February. Foxconn plans to resume normal operations by the end of March.
A source in Apple’s supply chain says not all operations are back to normal due to the trickle of components to assemble. It could take another month or longer to return to a normal pace.
A two-week lockdown in Malaysia is now impacting several key suppliers who make chips and circuit boards for Apple.
Amazon (NASDAQ:AMZN) temporarily halts its Prime Pantry delivery service due to a surge in demand.
The company is using the time to restock the nonperishable grocery supplies hit hard during the coronavirus pandemic.
Amazon statement: “Amazon Pantry is not accepting new orders at this time while we work to fulfill open orders and restock items following increased demand.”
The company didn’t say when the Prime Pantry service would resume.
Earlier this week, Amazon suspended shipments of non-essential items to its warehouses due to the increased demand for medical and cleaning supplies.
SoftBank-backed (OTCPK:SFTBF,OTCPK:SFTBY) satellite operator OneWeb is considering bankruptcy due to a combination of low cash, high costs, and stiff competition, according to Bloomberg sources.
The sources say that OneWeb is still considering possible alternatives to court protection.
If OneWeb does opt for protection, it would be among the first SoftBank backed startup to file for bankruptcy.
SoftBank stepped in to bail out WeWork after its failed IPO and cash burn problem.
Amazon.com (NASDAQ:AMZN) is in the bidding for four supermarkets owned by bankrupt New York City grocer Fairway Market, the New York Post reports.
The stores went on the auction block Monday.
Amazon has been focused on these four in particular: two stores in New Jersey, one in Brooklyn and one in Pelham, about a half-hour north of Manhattan, according to the report.
Such stores could fit into Amazon’s distribution/fulfillment plans, but the company has also been looking to boost its grocery footprint.
While Amazon is expected to prevail for the four stores, it’s not interested in the entire chain or the brand name, the report says.
During an appearance on CNBC earlier today, Qualcomm (QCOM +7.9%) CEO Steve Mollenkopf said that demand in China has already returned to normal.
The exec says the dividend is something the company “can handle in the current environment” and that QCOM would be “opportunistic” about buybacks.
Qualcomm shares are up 7.4% to $65.74.
