Apple launches racial equality initiative, confirms WWDC schedule

苹果开展种族平等与正义计划,宣布WWDC活动安排,苹果股价看涨
Published on: Jun 12, 2020
Author: Amy Liu

Apple (NASDAQ:AAPL) announces a $100M racial equity and justice initiative.

The initiative will increase spending with black-owned supply chain partners, foster applications from black developers, and work to increase diversity and inclusion within Apple.

Apple’s announcement is the latest big tech reaction to the May 25 death of George Floyd in Minneapolis.

IBM pulled out of facial recognition technology, while Amazon banned police departments from using its tech for the next year. Microsoft pointed out it doesn’t let U.S. police use its facial recognition tech and won’t until there’s a national law in place to regulate the tech.

In other Apple news, the company confirms the schedule for its virtual WWDC on June 22. The keynote begins at 10 am PT and will webcast here.

Apple price target raised on China smartphone recovery

Citing Chinese mobile phone data, Wells Fargo lifts its Apple (NASDAQ:AAPL) price target from $315 to $385.

The firm says that the mobile phone registration data for April and May “supports the view that we are seeing a post-COVID recovery in smartphone demand trends.”

Wells Fargo continues to see Apple as a “favored high-quality large cap name” heading into this fall’s launch of the 5G iPhones.

Wells maintains an Overweight rating on Apple, which has a Bullish average Wall St. Analysts rating.

More action: HSBC upgrades Apple from Reduce to Hold and raises the target from $225 to $295, expecting a “successful” 5G launch in Q3.

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