Technology Roundup – Amazon postponing Prime Day, Lyft offers free scooter rides for frontline workers

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Published on: April 3, 2020
Author: Amy Liu

Amazon postponing Prime Day – Reuters

Citing internal meeting notes, Reuters reports Amazon (NASDAQ:AMZN) is postponing Prime Day at least until August. It’s typically taken place during July.

As a result, the company is expecting charges of $100M thanks to excess devices it may have to sell at a discount.

Shares are off 1.2% today.

Lyft offers free scooter rides for frontline workers

Lyft (NASDAQ:LYFT) is offering the rides to first responders, health care, and transit workers in select cities.

The free rides can be up to 30 minutes in length, and the offer is valid through April 30.

Employers can contact Lyft to obtain enrollment information for their staff.

Available cities: Austin, Denver, Los Angeles, San Diego, Santa Monica, and Washington, DC.

Apple bull trims target on recession impact

Morgan Stanley cuts Apple’s (NASDAQ:AAPL) target from $328 to $298, citing the coronavirus-related macro uncertainties.

Analyst Katy Huberty expects lower iPhone ASPs and upgrades in the coming 12 months.

Huberty remains bullish and advises “buying the dip,” saying that “Apple is best positioned to recover to its prior long-term revenue and earnings trajectory” due to its customer retention rates and balance sheet strength.

Apple shares are up 0.1% pre-market to $245.18. The company has a Bullish average Sell Side rating.

Google offers location data for coronavirus lockdowns

Big Brother or necessary surveillance? You decide.

In an effort to assist in “unprecedented times,” Google (GOOG, GOOGL) is helping public health officials use its vast storage of data to track people’s movements due to the coronavirus pandemic.

The “mobility reports” go down to the county level to see if locals are abiding by social-distancing measures, but will use anonymized historical data, with a lag of two or three days.

Google is also reportedly exploring individual location tracking with a White House task force, as well as running a handful of testing sites in Northern California in a private-public partnership with the government.

Apple pushes back U.S. stores restart date

Apple (NASDAQ:AAPL) told employees that its retail stores in the U.S. will remain closed and work-from-home procedures will stay in place until early May due to the Covid-19 pandemic, according to a memo viewed by Bloomberg.

Apple Senior Vice President of Retail and People Deirdre O’Brien said that “Apple is continuing to monitor local conditions for every Apple facility on a daily basis and that the company will make reopening decisions on the basis of thorough, thoughtful reviews and the latest guidance from local governments and public health experts.”