Apple Inc. (NASDAQ:AAPL) dedicated ad agency is cutting staff
Apple’s dedicated ad agency is cutting staff.
Media Arts Lab, a unit within Omnicom Group agency TBWA that’s dedicated to Apple advertising, laid off several staffers Monday. The company wouldn’t say how many were laid off, but a report from Bloomberg, which first broke the news, placed the number at 50.
“Yesterday was a difficult day, as we had to part with some of our talented colleagues,” a TBWA/Media Arts Lab spokeswoman said in a statement to CNBC Tuesday. “Our relationship with Apple has never been stronger, but as the needs of our client continue to evolve, we must adapt and continue to evolve the composition of our teams. Decisions like this are never easy, nor are they taken lightly, but unfortunately it is the nature of the advertising business. We are incredibly grateful for the many contributions of those who are leaving us and the impact they have made at MAL and on the work.”
Apple has a decades-long relationship with Omnicom Group agency TBWA, the agency behind the iconic “1984” commercial, which introduced Apple’s first personal Macintosh, and “Think Different.” In 2006, TBWA created TBWA/Media Arts Lab as Apple’s bespoke creative agency. Lee Clow, the founder of Media Arts Lab and a close friend of Steve Jobs, officially retired earlier this year.
Meanwhile, Apple’s often lauded in-house creative operations group has been adding to its ranks. The company hired Nick Law, chief creative at Publicis Groupe and creative superstar, several months ago. According to Law’s LinkedIn profile, he now serves as a vice president of “Marcom Integration” at the company. Tor Myhren, VP of marketing and communications at Apple, joined from WPP’s Grey back in 2016. Apple recently hired Evelyn Neill, previously of TBWA/Chiat/Day, according to her LinkedIn profile.
The shift comes as Apple is marketing a slew of new products and services, from Apple TV+ to its new branded credit card. Earlier this year, Media Arts Lab hired new executive creative directors for the agency’s Los Angeles headquarters to oversee creative for the iPhone and for services including work for Apple TV+, Apple Music and Apple Pay, Adweek reported in May.
Apple began building out its in-house shop in earnest several years ago, part of a broader trend of marketers taking certain advertising functions in-house to regain control or save money.
Greg Paull, principal and co-founder at consultancy R3, said the push and pull of creative work between Apple’s in-house operations and its dedicated agency aren’t necessarily new.
“The pendulum has always been swinging between Media Arts Lab and Apple for many years. The agency is a little at the mercy of Apple’s whims and directions,” he said.
But while brands seeking the success of Apple’s in-house agency might be inspired by its results, Paull says one difference is the people Apple has inside it.
“The difference between everyone else’s in-house agency and Apple’s in-house agency is talent – the world’s best are attracted to Cupertino and it makes it easier to develop big ideas in-house.”
Overall, the bias in prices is: Upwards.
Note: this chart shows extraordinary price action to the upside.
By the way, prices are vulnerable to a correction towards 229.93.
The projected upper bound is: 267.04.
The projected lower bound is: 249.25.
The projected closing price is: 258.14.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 7 white candles and 3 black candles for a net of 4 white candles. During the past 50 bars, there have been 28 white candles and 21 black candles for a net of 7 white candles.
Three white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 97.4828. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 5 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 76.19. This is where it usually tops. The RSI usually forms tops and bottoms before the underlying security. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 5 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 157.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 5 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 21 period(s) ago.
Rex Takasugi – TD Profile
APPLE INC closed down -0.370 at 257.130. Volume was 25% below average (neutral) and Bollinger Bands were 73% wider than normal.
Open High Low Close Volume___
257.050 258.190 256.320 257.130 19,974,428
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 248.82 227.39 200.32
Volatility: 26 25 30
Volume: 26,556,596 26,753,182 27,735,854
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
APPLE INC is currently 28.4% above its 200-period moving average and is in an upward trend. Volatility is low as compared to the average volatility over the last 10 periods. Our volume indicators reflect moderate flows of volume into AAPL.O (mildly bullish). Our trend forecasting oscillators are currently bullish on AAPL.O and have had this outlook for the last 54 periods. Our momentum oscillator is currently indicating that AAPL.O is currently in an overbought condition.
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