Exam Details:
- Number of Questions: The MAC-16A ACMT 2016 MAC Service Certification test typically consists of multiple-choice questions and hands-on practical tasks. The exact number of questions may vary.
- Time: The test duration is typically around 90 to 120 minutes. It is important to manage time effectively to complete all the required tasks within the allocated time.
Course Outline:
The ACMT 2016 MAC Service Certification focuses on validating the knowledge and skills required to diagnose and repair Apple Macintosh computers. The course outline may include the following key areas:
1. Apple Product Line:
- Familiarity with the Apple product line
- Understanding different Mac models and configurations
- Knowledge of Mac hardware components and their functionalities
2. macOS and Software Installation:
- Understanding macOS operating system
- Performing macOS installations and upgrades
- Knowledge of macOS troubleshooting and recovery options
3. Mac Hardware Troubleshooting:
- Diagnosing hardware issues using Apple diagnostics tools
- Identifying and replacing faulty hardware components
- Troubleshooting common Mac hardware problems
4. Mac Software and Configuration:
- Configuring and troubleshooting software settings on Mac
- Resolving software conflicts and compatibility issues
- Managing user accounts and permissions
5. Mac Networking and Connectivity:
- Configuring network settings on Mac
- Troubleshooting network connectivity issues
- Knowledge of common networking protocols and technologies
6. Customer Service and Communication:
- Effective communication with customers
- Providing accurate and helpful technical assistance
- Understanding customer needs and expectations
Exam Objectives:
The objectives of the MAC-16A ACMT 2016 MAC Service Certification test typically include:
- Evaluating the candidate's knowledge of Apple product line and Mac hardware components.
- Testing the candidate's ability to diagnose and troubleshoot Mac hardware and software issues.
- Assessing the candidate's understanding of macOS operating system and software installations.
- Evaluating the candidate's knowledge of Mac networking and connectivity.
- Assessing the candidate's customer service and communication skills.
Exam Syllabus:
The specific test syllabus for the MAC-16A ACMT 2016 MAC Service Certification may vary, but it generally includes the following topics:
1. Apple Product Line:
- Mac models and configurations
- Mac hardware components and functionalities
- Apple product specifications and features
2. macOS and Software Installation:
- macOS operating system and versions
- macOS installation and upgrade procedures
- Troubleshooting and recovery options
3. Mac Hardware Troubleshooting:
- Diagnosing hardware issues using Apple diagnostics tools
- Replacing faulty hardware components
- Troubleshooting common hardware problems
4. Mac Software and Configuration:
- Software settings and configurations on Mac
- Troubleshooting software conflicts and compatibility issues
- Managing user accounts and permissions
5. Mac Networking and Connectivity:
- Configuring network settings on Mac
- Troubleshooting network connectivity issues
- Understanding networking protocols and technologies
6. Customer Service and Communication:
- Effective communication with customers
- Providing technical assistance and support
- Understanding customer needs and expectations
ACMT 2016 MAC Service Certification Apple Certification information
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QUESTION 46
What should you do first if a MacBook Air (13-inch, Mid 2013) does not show the AirPlay Display menu icon on a network with an Apple TV (3rd generation)?
A. Reset all of the settings on the Apple TV and rejoin the network.
B. Startup the MacBook Air from Recovery HD and reinstall OS X.
C. obtain the latest copy of iTunes and restore the Apple TV.
D. Ensure the "Show mirroring options in the menu bar" preference is enabled. Answer: D
QUESTION 47
An iMac starts, but becomes unresponsive after the login screen. How can you easily disable login items to see if they are causing the issue?
A. Hold the Shift key at start up to Safe Boot.
B. Start the iMac to OS X Recovery and reinstall OS X
C. Hold Command-S to enter single-user mode, then mo
D. Start the iMac to OS X Recovery, open Terminal, and use it to delete all login items. Answer: A
QUESTION 48
Why is it important to use the Globally Unique Identifier (GUID) partition scheme on an Intel-based Mac? SELECT TWO.
A. The GUID partition scheme contains the necessary standard apps for OS X.
B. Firmware updates for Intel-based Macs require a GUID partition scheme.
C. Master Boot Record (MBR) requires a GUID partition map.
D. You should not use GUID. Apple Partition Map (APM) is the default partition map for Intel-based Macs.
E. Any of the partition schemes provided by Disk Utility will work.
F. An Intel-based Mac will not start up without the GUID partition map. Answer: AB
accurate answer
QUESTION 49
John is attempting to use Handoff with his recently updated iPhone and Mac. It is not pairing successfully. He just added home networking equipment to improve
signal range. What troubleshooting step should Jhon try first?
A. Verify that iPhone Cellular Calls are turned on in System Preferences > Network.
B. Reset Network Settings on iPhone.
C. Verify that both devices are connected to the same Wi-Fi network.
D. Verify that both devices are connected to a Wi-Fi network using WPA2 security. Answer: B
QUESTION 50
Jeff uses his living room television as a display for his Mac mini. Jeff states the Bluetooth keyboard paired with his Mac mini intermittently stops responding. What
steps can you advise Jeff to take to resolve the issue? SELECT THREE.
A. Make sure Show Bluetooth in menu bar is selected in System Preferences.
B. Press a key on the keyboard to reconnect it with the Mac.
C. Turn off Bluetooth in the Bluetooth pane of System Preferences.
D. Turn Wi-Fi off and on.
E. Check the battery level of the keyboard.
F. Check Activity Monitor.
G. Keep wireless devices within 33 feet (10 meters) of the Mac. Answer: BEG
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https://killexams.com/exam_list/AppleApple seeks multiyear deals with publishers to train its generative AINo result found, try new keyword!The Cupertino-based company is seeking multiyear deals worth over $50 million with publishers like Condé Nast, NBC News, and IAC.Fri, 22 Dec 2023 18:16:04 -0600en-ustext/htmlhttps://www.msn.com/Apple’s Vision Pro Could Begin Shipping Next Week
It seems that when Apple promised “early 2024” for the launch of its new Vision Pro mixed-reality headset, the company really meant it. While some reports suggested they wouldn’t see the groundbreaking new product go on sale until March, several reliable sources have suggested it could hit stores by the end of January.
Last week, Bloomberg’s Mark Gurman revealed that things have been running “at full speed” to crank out enough Vision Pro units for a February retail launch, and today, veteran analyst Ming-Chi Kuo added his voice to the chorus with news that Apple is already preparing to begin mass shipments next week.
In a lengthy post on Medium highlighting predicted trends for 2024, Kuo calls the headset the ”most important product for Apple” in the new year and notes that the Vision Pro is in “mass production and will begin mass shipments in the first week of January 2024.”
If user feedback on Vision Pro is better than expected, it will help strengthen the market consensus that “Vision Pro is the next star product in consumer electronics” and the related supply chain stock price.
Ming-Chi Kuo
Kuo’s timeframe roughly aligns with Gurman’s information since even if the stores are stocked up by the end of January, Apple might still choose to wait until early February to begin selling the Vision Pro since stock levels aren’t the only piece of the puzzle.
Apple also has to ensure its staff is up to speed on how to sell the unique new product — something that Gurman says won’t begin until mid-January. Apple has reportedly begun interviewing retail employees who have applied for the training, which is expected to be available only to a select few at this stage.
Presumably, these employees will become “Vision Pro Specialists” tasked with not only explaining and promoting the headset in the stores but also receiving training on how to properly fit the headset to each customer by attaching components like the light seal, headband, and any necessary prescription lenses. Those employees will likely be expected also to transfer what they learn to their co-workers back home.
Kuo predicts that Apple will ship approximately 500,000 units of the Vision Pro in 2024, the bulk of which will likely be destined for the United States — the only country in which the headset will be launching at first, although Apple has promised to expand sales later in the year.
With 273 Apple stores in the US, that’s an ambitious number for a $3,500 headset, working out to over 1,800 headsets per store. Of course, it’s unlikely stock will be distributed evenly across all stores, but that still suggests that Apple expects to sell five units per store per day — five times higher than what Gurman said the company predicted two years ago.
Apple has already begun building some hype for the Vision Pro by adding Spatial Video recording to the iPhone 15 Pro and iPhone 15 Pro Max in the latest iOS 17.2 update and inviting journalists and other industry watchers to see how their iPhone-recorded footage looks when viewed through the Vision Pro headset.
Nevertheless, $3,500 will be a tough sell for most folks, especially for such a bleeding-edge first gen product. Many analysts expect the Apple Vision Pro to chart a path similar to the Apple Watch, which was also seen as very niche and exclusive when it launched in 2015 but has since taken the smartwatch market by storm. Apple is already hard at work planning a sequel for the Vision Pro and exploring the idea of a lower-cost model that could cut some corners and rely more on the iPhone for features like video recording.
[The information provided in this article has NOT been confirmed by Apple and may be speculation. Provided details may not be factual. Take all rumors, tech or otherwise, with a grain of salt.]
Tue, 26 Dec 2023 07:01:00 -0600en-UStext/htmlhttps://www.idropnews.com/rumors/apples-vision-pro-could-begin-shipping-next-week/204513/Apple negotiates content licensing deals for AI training
ALBAWABA - Despite Apple's notable absence from current competition in the field of artificial intelligence, the iPhone maker seems to be making a shift in its stance.
According to The New York Times, Apple has recently started negotiations with major publishers and news organizations to seek permission to use their content for training the generative artificial intelligence system it is developing.
As Apple does not expect to obtain news content for these platforms for free, the company is offering multi-year deals worth $50 million to access their news archives.
Some publishers contacted by Apple appear concerned about the potential repercussions of allowing the company to use their news articles over the years. These entities fear that a broad licensing agreement for their archives could lead to long-term legal issues. Publishers also worry about potential competition arising from Apple's efforts.
The report indicates that Apple's top executives have been discussing how to acquire data for years to develop generative artificial intelligence. Due to the company's commitment to privacy, there has been hesitation about using information collected online.
Companies in the generative artificial intelligence field have faced accusations of content theft and using it to train their products without explicit consent from the content creators.
In a separate context, latest forecasts from Wedbush analysts suggest that Apple's market value could reach $4 trillion by the end of 2024.
Sat, 23 Dec 2023 18:40:00 -0600entext/htmlhttps://www.albawaba.com/business/apple-negotiates-content-licensing-deals-ai-training-1546238Apple insider Kuo says Vision Pro shipments start in a matter of days
The Vision Pro is the most exciting Apple product of the year if you ask me. I can’t wait to get my hands on the spatial computer and see if I can turn it into a gadget I can use on a regular basis. But, unlike other Vision Pro enthusiasts, I have a problem. I’ll have to wait longer than most BGR readers for the Vision Pro launch. That’s because Apple hasn’t announced release timeframes for international markets. What’s worse is that current estimates imply Europe might not get the Vision Pro at all in 2024.
The Vision Pro doesn’t have a release date in the US either, but I’ve seen improved estimates in the past few weeks. It started with Bloomberg’s Mark Gurman, who said that Apple might start selling the spatial computer in February. Apple suppliers have reportedly been assembling the mixed reality device for a few weeks now.
Another well-known insider now offers a similarly optimistic outlook about the Vision Pro launch. Apple might start mass shipments in the first week of January, which means an in-store launch should happen soon after that.
We’ve known for a while that buying the Vision Pro will be more like getting the first-gen Apple Watch. Gurman detailed the process in latest reports. You might be able to order the Vision Pro online, but you’ll need to go for a proper fitting in a store nearby. Meanwhile, Apple is training Apple Store staff to sell the Vision Pro, and that includes getting users a custom fit.
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As much as I hate to admit it, that’s probably the best way to buy a Vision Pro. Given everything that they know about the device, I think it’s important to try it in an Apple Store and ensure it’s comfortable. It must fit your face so that you can actually use it for several hours at a time without fatigue. Moreover, there’s also the matter of accommodating prescription lenses for the device.
This process involves a lengthy purchase experience, from the moment you buy the device to your genuine fitting appointment. This would delay international sales. Gurman said in previous reports that Apple plans to bring the Vision Pro to the UK and Canada towards the end of 2024. This would probably put a European launch sometime in late 2024 or even 2025.
That’s all speculation, however, as they don’t have anything official from Apple. But they might soon get official updates on the matter, especially if Apple intends to start shipping the Vision Pro in the coming days.
In a wide-ranging post on Medium, Kuo said that the Vision Pro is the most important product for Apple in 2024.
“If user feedback on Vision Pro is better than expected, it will help strengthen the market consensus that ‘Vision Pro is the next star product in consumer electronics’ and the related supply chain stock price,” Kuo wrote.
It’s in this context that Kuo offered his estimates for the imminent US Vision Pro launch:
Shipments in 2024 are estimated to be approximately 500,000 units. Vision Pro is currently in mass production and will begin mass shipments in the first week of January 2024. Vision Pro will most likely hit the store shelves in late January or early February based on the current mass shipment schedule.
It might not sound like a lot, but this is a better estimate than Gurman. Let’s also not forget that “early 2024” could mean anytime before June. If Kuo’s information is accurate, they won’t have to wait that long. Vision Pro preorders might start sooner than they expected.
Finally, I’ll also point out one more thing: CES 2024 is coming, where some Apple rivals will unveil new products. More importantly, according to leaks, Samsung’s Galaxy S24 launch event is set for January 17th.
A Vision Pro launch announcement timed for mid-January would make plenty of sense. The Vision Pro would be on everyone’s minds, rather than non-Apple products.
Mon, 25 Dec 2023 02:16:00 -0600en-UStext/htmlhttps://bgr.com/tech/apple-insider-kuo-says-vision-pro-shipments-start-in-a-matter-of-days/Apple Wants to Partner With Major Publishers to Train AI
Apple has approached several major publishers to establish deals that would allow the Cupertino company to train generative artificial intelligence systems on news content, reports The New York Times.
Apple is aiming for multiyear deals and has approached Condé Nast, NBC News, and IAC. Condé Nast publications include Vogue, Wired, Vanity Fair, Ars Technica, Glamour, The New Yorker, GQ, and more, while IAC owns publications like People, The Spruce, Serious Eats, Martha Stewart Living, Real Simple, Entertainment Weekly, and Better Homes & Gardens.
Proposed deals have been worth at least $50 million, and would allow Apple to license archives of news articles. According to The New York Times, some of the publishers were "lukewarm" on Apple's offer. Apple's terms are said to be "too expansive," and Apple has been vague about how it will apply generative AI to news.
Other publishers were "optimistic" about a potential partnership, and were pleased that Apple asked to use their content rather than just training generative models on published news without permission as other AI companies have done.
Multiple rumors have suggested that Apple is working overtime to catch up to its rivals on generative AI offerings, with Apple testing an "AppleGPT" chatbot internally and planning for new AI features in iOS 18.
Microsoft, Google, and Meta have all incorporated generative AI into their products over the course of the last year, which means Apple is lagging behind when it comes to AI technology. ChatGPT, the most popular chatbot from OpenAI, was trained on a huge amount of data that includes books, articles, and web pages.
In addition to the copyright issues that come with the broad scraping of internet content, ChatGPT has sometimes been criticized for the accuracy of the information that it sometimes surfaces. By training an AI model on a more tailored set of information, Apple could end up with a more reliable product. Apple is also said to be planning to incorporate generative AI features across its app offerings, so a model that has been fed content from news sources could perhaps be added into Apple News.
The New York Times says that Apple executives have been "debating" how to get the data needed for generative AI products. Apple has not wanted to source information from the internet because of its focus on privacy, so deals with news publishers provide an alternative.
Fri, 22 Dec 2023 07:07:00 -0600entext/htmlhttps://www.macrumors.com/2023/12/22/apple-ai-major-publisher-deals/Report: OpenAI is offering news publishers as little as $1M to use content for AI training
OpenAI is reportedly putting as little as $1 million and perhaps only up to $5 million on the table in an effort to strike deals with news publishing firms to use their content to train its large language models.
This might seem like a paltry amount, given the rapid rise of the company’s flagship LLM, ChatGPT, but that might depend on the terms of those deals. The news comes from the website The Information, which said today it had spoken with two executives familiar with the matter. The report states that the company is currently negotiating with about a dozen media companies.
In December, OpenAI said it had partnered with the publishing giant Axel Springer, the first partnership the company has struck with such a publisher. Axel Springer is the German multinational mass media company behind such brands as Business Insider and Politico. The financial terms of the deal were never made public, but according to those two executives, it was in the range of tens of millions of dollars.
Meanwhile, Apple Inc. is currently in the race to develop generative AI and has inked deals with publications such as Condé Nast, which owns Vogue and The New Yorker, as well as NBC News and IAC, which owns The Daily Beast and Better Homes and Gardens, worth in the region of $50 million. According to those executives, the reason for Apple’s fairly large payment is that it wants to use the content more broadly than OpenAI wants in its deals.
Where training generative AI is concerned, it appears there’s no more free lunch. The New York Times, CNN, Reuters and The Verge’s parent company, Vox Media, recently blocked OpenAI’s GPT crawler from accessing data. In December, The Times sued OpenAI as well as Microsoft Corp. for what it said was the companies’ illegal use of its copyrighted material to train their AI models.
Reddit Inc. last year also clamped down on companies using its content to train their generative AI, while well-known authors have also launched lawsuits against such companies that perhaps presumed the authors’ hard work was free to use. Training LLMs could be about to get more expensive.
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Thu, 04 Jan 2024 12:47:00 -0600en-UStext/htmlhttps://siliconangle.com/2024/01/04/report-openai-offering-news-publishers-little-1m-use-content-ai-training/Augmented Reality on iPhone: How Apple is Transforming the User Experience
In the ever-evolving landscape of technology, Apple has been at the forefront of innovation, consistently pushing boundaries to enhance user experiences. One of the remarkable strides in this journey is the integration of augmented reality (AR) on the iPhone. Augmented reality, the technology that overlays digital information onto the physical world, has opened up new avenues for users to interact with their surroundings.
Augmented reality is not a new concept, but Apple’s commitment to refining and incorporating this technology into its devices is a game-changer. The inception of ARKit, Apple’s AR development platform, marked a pivotal moment. ARKit allows developers to create immersive augmented reality experiences, leveraging the powerful hardware and software capabilities of the iPhone. This technological synergy has birthed a new era where the iPhone becomes a gateway to a world where the digital and physical coexist harmoniously.
User-Friendly Applications:
The beauty of Apple’s approach to augmented reality lies in its commitment to user-friendliness. The App Store is now teeming with AR applications that cater to various interests and needs. Whether it’s exploring virtual art galleries, visualizing furniture in your living room before purchase, or playing interactive games that blend seamlessly with the real world, Apple has curated a diverse AR ecosystem. This not only provides entertainment but also enhances productivity and utility, making AR an integral part of daily life.
Immersive Gaming Experiences:
Gaming has been revolutionized by the integration of augmented reality on the iPhone. Apple’s ARKit enables developers to create games that transcend the boundaries of traditional gaming. Users can now engage in immersive experiences where their physical environment becomes the backdrop for thrilling adventures. From Pokemon GO’s success to more sophisticated AR games like “The Machines,” Apple is creating a gaming landscape that captivates users and offers a level of engagement previously unimaginable.
Enhanced Retail Experiences:
Apple’s foray into augmented reality extends beyond entertainment into the realm of commerce. The iPhone’s AR capabilities have redefined the way users shop online. Apps now allow customers to virtually try on clothing, accessories, and even makeup before making a purchase decision. This not only enhances the online shopping experience but also reduces the likelihood of returns, providing a practical solution to a common consumer concern. As a result, Apple is shaping the future of retail, where the boundaries between online and in-store experiences blur.
Education and Training:
Beyond entertainment and commerce, Apple’s augmented reality is making significant inroads into education and training. The iPhone has become a valuable tool for educators, offering students immersive learning experiences. Concepts that were once confined to textbooks now come to life through interactive AR applications. Moreover, in professional training scenarios, augmented reality facilitates realistic simulations, enhancing skill development in fields such as healthcare, aviation, and engineering.
AR and Social Connectivity:
Apple recognizes the importance of social connectivity in the digital age. With augmented reality, the iPhone is not just a personal device but a tool for shared experiences. Features like AR FaceTime and shared AR experiences enable users to connect in more meaningful ways. Imagine planning a trip with friends and virtually exploring potential destinations together or collaborating on creative projects in real-time—Apple’s AR initiatives redefine the concept of social interaction in the digital realm.
Future Possibilities:
As Apple continues to invest in augmented reality, the future holds even more exciting possibilities. Rumors of AR glasses and further advancements in ARKit suggest that Apple envisions a world where augmented reality seamlessly integrates into their daily lives. From navigation and information overlay to enhanced workplace productivity, the potential applications are vast. Apple’s commitment to refining and expanding its AR offerings solidifies its position as a trailblazer in shaping the future of technology.
Conclusion:
Apple’s integration of augmented reality on the iPhone marks a significant leap forward in redefining the user experience. The evolution from ARKit to a robust ecosystem of user-friendly applications has transformed how they entertain ourselves, shop, learn, and connect with others. With Apple’s unwavering dedication to innovation, augmented reality is not just a feature; it’s a gateway to a future where the digital and physical worlds seamlessly converge. As Apple continues to push boundaries, the transformative power of augmented reality on the iPhone is poised to shape the way they interact with technology for years to come.
Thu, 28 Dec 2023 18:14:00 -0600Hillaryen-UStext/htmlhttps://techbullion.com/augmented-reality-on-iphone-how-apple-is-transforming-the-user-experience/Apple Store Coupon Codes for January 2024
FAQs
Does Apple have a Black Friday Sale?
Black Friday at Apple is very popular with their most desirable products selling out fast during past Black Friday seasons. The Apple Black Friday Sale begins during the last week of November. We'll keep this page updated with the latest Apple Black Friday discounts, so check in regularly.
How can I contact the Apple store customer service team?
You can call the Apple Store team on (800) 692–7753. You can also find an online request form on their website, which you can use to let their team know about your issue and they'll work out how best to help.
Does Apple Store offer free shipping?
Yes, Apple Store offers free next-day shipping for any items that are currently in stock. If you want your order even sooner than that, there’s also a two-hour delivery option available that costs $9.
Does Apple Store offer in-store pickup?
Yes, Apple Store offers a free in-store and curbside pickup option If you’d rather collect your Apple goodies yourself. Once your order is available for collection, Apple will send you an email with all the information you need and you can then collect your items at your own convenience.
Does Apple Store price match?
Apple Store doesn’t currently price match, but if this ever changes, we’ll let you know. So check back here regularly to find out about the latest codes, benefits, and ways to save.
Does Apple Store do Black Friday deals?
Yes, but they recommend shopping around on Friday, November 24 2023 to find the best Apple Black Friday deals. Third-party retailers like Best Buy, Amazon, and Verizon had some great discounts last year on iPads, MacBooks, and more. It’s also worth checking Apple Store directly for good trade-in offers.
What is the Apple Store returns policy?
You can return your Apple Store product within 14 days of receiving it and Apple Store will pay for the returns shipping label. Bear in mind, it must be an Apple product that was bought directly from the Apple Store, and it must be returned and repackaged with all the documents and accessories it came with. There are some products that you can’t return, like opened software, Apple gift cards, print products and electronic software downloads.
Hints and tips
Check Out Apple Refurbished: You can purchase an Apple device for a whole lot cheaper when you shop Apple Refurbished. All Apple products available to buy refurbished come under the Apple Certified Refurbished promise. This means they are thoroughly checked over to ensure they’re of like-new quality. All refurbished items also come with a 1-year warranty to provide you true peace of mind.
Apple Trade-ins: Apple has a trade-in scheme that allows you to trade in your old Apple device and get store credit or an Apple gift card to use toward the purchase of a new one. Apple currently offers up to $650 in trade-in value on old devices, so it's definitely worth exploring for a potential saving. You don’t even have to go into a store to apply for a trade-in, you can complete your application online!
Student Discount: The Apple Education Store allows students, parents, faculty staff, and homeschool teachers a discount on a Mac or iPad. The price cut varies depending on the product, but it can save you a lot! You need to provide Apple with a Verified education email address to claim your discount.
Veterans and Military Purchase Program: Apple offers a 10% discount for current and Veteran members of the US Military, National Guard and Reserve. The 10% discount also applies to immediate family members. You need to verify your Veteran or active military status with ID.Me to receive your discount code.
How to use Apple Store promo codes
1. Browse through their list of Apple Store coupons - they update this page regularly with the latest deals.
2. Once you’ve found the offer you’d like to use, click the ‘Get Code’ button. This will make a pop-out box appear, showing the code.
3. It will also open a tab on the Apple Store website. You can copy the code by clicking the ‘Copy’ button. Now it’s time to do your shopping.
4. Once you have everything, head to your shopping cart. Paste your code in the coupon box and click ‘Apply’.
Tue, 02 Jan 2024 07:24:00 -0600en-UStext/htmlhttps://www.pcgamer.com/coupons/apple.com/Apple: Accept The Gift, Move On
Apple (NASDAQ:AAPL) investors don't appear to fully understand how the stock had a remarkable year disconnected from how bad the business actually performed during 2023. The tech giant went all year without growing, yet the stock ended the year trading right off all-time highs. Myinvestment thesisremains ultra Bearish on Apple with the hope current shareholders use this gift to unload shares at a premium valuation.
Unjustified Rally
Apple shares were up nearly 50% for the year starting 2023 just below $130. The company failed to report a single quarter of growth during the year and the tech giant has limited prospects for excessive growth in 2024 due to missing out on the generative AI demand surge.
The problem is that most investors think Apple rallied due to the successful ability of the tech giant to generate growing profits. Too many investors just judge the company based on the performance of the stock and appear to have completely missed the lessons from the 2000 Internet bubble and the 2021 Covid bubble.
Stocks become detached from logical valuations all the time and alert investors to take advantage of these dislocations by selling the stock, otherwise, the gifts are given back. Everyone should be well aware of how Zoom (ZM) surged to over $500 on Covid demand and now trades for only $72. The market convinced a lot of people Zoom was worth over $120 billion, yet the 100%+ growth rates were clearly not sustainable and the company was hardly generating $4 billion in annual revenues.
In a similar manner, Apple has seen the stock rally due to Magnificent 7 hype. The big tech stocks surged during 2023 due to AI hype for NVIDIA (NVDA) and Microsoft (MSFT) and to a lesser extent Google (GOOG). At the same time, Meta Platforms (META) completed a year of efficiency, but investors need to step back and ask what has Apple delivered to warrant a massive rally in the stock.
The company has now reported 4 consecutive quarters of declining sales. The forecast is for Apple to squeak out less than 1% growth in the important holiday quarter just ended followed by barely 2% sales growth in the March quarter.
Apple has the promising Vision Pro headset launching, possibly in February, soon, but the company is nowhere to be found in generative AI technology. The latest estimate has Apple delivering only 500,000 mixed-reality units for 2024 with sales in the $1.75 billion range based on a $3,500 cost.
All while Apple is running into patent issues with the Apple Watch. The International Trade Commission has banned sales of the Watch due to a patent from Masimo (MASI), but the Federal Circuit court has paused the ban for now. At best, Apple appears set for a long-term software fix to avoid the dispute on most Watch models.
Large Disconnect
Apple enters 2024 trading at nearly 30x FY24 EPS targets. Yet, the base case is for the tech giant to grow EPS in the 7% to 8% range in the next couple of fiscal years. Even under the best scenario, the stock should trade at ~15x forward EPS targets, or ~$99, in order for investors to generate solid total returns.
The odd part of this scenario is investors have other examples when investor brand loyalty trips up investing decisions. Coca-Cola (KO) has been one of the most popular stocks to own in the last 50 years, yet the stock massively underperformed the market in the last decade per the below chart.
A similar theme with Apple is a stock still trading at an excessive forward PE multiple compared to the growth. The market usually isn't willing to pay more than 2x the growth rate, yet Coca-Cola currently trades at 21x 2024 EPS targets with a forecast for minimal 4% growth.
An investor can probably stretch a long-term growth target in the 6% to 7% range with 2024 subdued due to potentially deflationary pressure in the sector. The key here is Coca-Cola still trading at 3x the normalized EPS growth rate and Apple falls right into that same category.
Services Won't Rescue The Stock
Investors need to realize the growth story for Apple is now all centered on Services, which is constantly under pressure from regulators now. The tech giant doesn't have a software solution to where enterprise customers will potentially pay double the price for new AI technology like Microsoft with CoPilot.
Apple Services grew 9% in FY23 to reach $85 billion and analysts are generally forecasting a rebound towards growth in the 15% range. Services are still only ~22% of the business limiting the impact on overall growth.
After a period of weak growth for Services due to Covid pull forwards with people locked at home, Apple has forecasted maintaining double-digit growth. The Services sector would provide about $12 billion in additional revenues this year to reach the 15% growth rate.
Apple reported $383 billion in FY23 revenues, so Services would contribute only 3% to total growth in FY24 despite the solid 15% growth rate. Investors have long not seemed to understand that Services growth is impressive, but the amount is hardly material to the overall business due to the massive $300+ billion annual revenues from the products division led by the iPhone.
In essence, Apple has to produce revenue growth from other categories in order to really move the needle to warrant the current stock valuation. The company forecasts iPhone growth in the December quarter, but the Apple Watch patent issues and tough comps in iPad and Wearables, including the Watch, will lead to revenue challenges in these categories.
Our dead money research going on 2 years now correctly forecasts how Apple would run into problems growing due to issues with new product development. Neither the Apple Car nor the AR/VR device has reached the market yet and the company just reported an FY with sales declining 3%.
Investors were also informed the stock could make an irrational run to $200 or more. One can't always predict how influential analysts and other external factors will impact a stock.
With Dan Ives from Wedbush Securities gaining in popularity and pushing $250 price target on the stock despite Apple literally reporting horrible quarterly results, the stock has flown to $200 to end 2023. The stock would reach an incredible market cap of $4 trillion and the stock would trade at 35x FY25 EPS targets due to a rally based purely on multiple expansion.
What ultimately matters is that Apple is only forecast to earn $6.56 per share in FY23 and a 15x P/E multiple just gets the stock to $100. Even if one goes out to the $7.12 EPS targets for FY25 and applies a 20x P/E multiple, Apple would only be worth $142, or ~$24 below where they predicted the stock would be dead money for 4 years.
Takeaway
The key investor takeaway is that investors need to understand the gift from the stock rally in 2023. Apple could definitely rally more in 2024, but investors need to understand the current disconnect between the stock here and the results being reported by the company. At some point in the next couple of years, investors are likely to face a scenario where Apple trades below $150 and the fear is the stock falling even further. One of the worst scenarios in investing is giving up gains due to being greedy and the easy scenario is to lock in gains here and move on.
Mon, 01 Jan 2024 09:00:00 -0600entext/htmlhttps://seekingalpha.com/article/4660598-apple-accept-the-gift-move-onApple's Vision Pro AR/VR headset could ship in weeks, not months
If you've been patiently waiting for Apple to make its upcoming Vision Pro AR/VR headset available to buy, you might not have to wait quite as long as they first thought. That's according to an admittedly sketchy report by a Chinese investor news service. That news service, Wall Street Insights, claims that Apple will release the Vision Pro headset to retail on January 27.
What's particularly interesting about that date is that it's a Saturday, a date that Apple has historically not used when releasing new products for sale. However, as MacRumors notes, it's likely that the date might refer to the Chinese Saturday which would in turn make the US release date the 26th - a much more likely Friday.
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Little has been officially confirmed in terms of when the Vision Pro headset will go on sale, however. Apple announced the much-rumored device back in June during the company's annual WWDC event but no firm release date was given. All Apple said was what is currently shown on its website - Vision Pro will release in early 2024.
However, latest rumors have suggested that Apple intends to bring the Vision Pro to market in February with retail employees undergoing training on how best to sell and configure the headset. It's thought that the latter part of the process is particularly important given the fact that an incorrectly configured headset would likely result in a poor user experience. Considering that the Vision Pro headset will sell for $3,499, ensuring that the first time people interact with the Vision Pro is a successful one is paramount for Apple.
If Apple does intend to ship the Vision Pro headset on January 26 they only have a few weeks left before one of the most hotly anticipated hardware releases of the year makes its way into stores, and all eyes will be on the reaction of early adopters. Those who have spent time with the headset so far have waxed lyrical about its capabilities. But that dynamic can and often does change when you've just plopped $,3499 down on something and buyer's remorse kicks in.
Apple is already said to be working on ways to launch a new, cheaper Vision Pro headset but it's as-yet unclear when that will arrive, how much cheaper it will be, and which features and capabilities will be stripped in order to meet that lower asking price. They can expect to learn more about that cheaper modern in the coming months as information begins to leak more freely.
Tue, 02 Jan 2024 21:10:00 -0600en-UStext/htmlhttps://www.tweaktown.com/news/95270/apples-vision-pro-ar-vr-headset-could-ship-in-weeks-not-months/index.html
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