Apple Inc. (NASDAQ:AAPL) Tim Cook says regulatory action is needed to restore ‘full faith’ in tech
Apple Inc. Chief Executive Tim Cook has extended his crusade against companies that misuse user data, calling in a Thursday op-ed written for Time for “comprehensive federal privacy legislation”:
‘Consumers shouldn’t have to tolerate another year of companies irresponsibly amassing huge user profiles, data breaches that seem out of control and the vanishing ability to control our own digital lives.’Tim Cook, Apple
The Apple AAPL, +0.59% CEO laid out the components he believes are necessary for regulators to consider if they set out to create effective privacy laws. These include the ability for users to know which data are being collected on them as well as how to access and delete this information. He also called on companies to strip personal information from customer data or not collect it at all.
“Technology has the potential to keep changing the world for the better, but it will never achieve that potential without the full faith and confidence of the people who use it,” he wrote.
Cook suggested that the federal government create a “data-broker clearinghouse” that would make all parties that sell user data register with the government. This would let users track transactions that have led to their data being sold and also let them delete this identifying information “once and for all.”
The comments in the Time op-ed follow months of criticism by Cook directed toward tech peers. Following Facebook Inc.’s FB, +0.52% Cambridge Analytica scandal, the Apple chief said he “wouldn’t be in this situation” when an interviewer asked him what he would do if he were at the helm of Facebook. Cook has repeatedly contrasted Apple’s stance on data sharing with that of Facebook and others.
“The truth is, we could make a ton of money if we monetized our consumer, if our consumer was our product,” Cook said at the time, according to Recode. “We’ve elected not to do that.”
Apple shares are down 0.5% in Thursday trading. The stock has fallen 30% in the past three months, as the Dow Jones Industrial Average DJIA, +0.67% , of which Apple is a component, has slipped 6%.
Overall, the bias in prices is: Downwards.
Note: this chart shows extraordinary price action to the downside.
The projected upper bound is: 169.13.
The projected lower bound is: 140.53.
The projected closing price is: 154.83.
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 23 white candles and 27 black candles for a net of 4 black 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 79.4219. This is not an overbought or oversold reading. The last signal was a sell 3 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 46.01. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 9 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 72. This is not a topping or bottoming area. The last signal was a buy 8 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 13 period(s) ago.
Rex Takasugi – TD Profile
APPLE INC closed up 0.920 at 155.860. Volume was 28% below average (neutral) and Bollinger Bands were 36% narrower than normal.
Open High Low Close Volume___
154.200 157.660 153.260 155.860 29,821,160
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 152.02 170.55 192.17
Volatility: 30 54 38
Volume: 38,385,352 44,455,852 33,412,116
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 18.9% below its 200-period moving average and is in an upward trend. Volatility is high as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of AAPL.O at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on AAPL.O and have had this outlook for the last 0 periods. Our momentum oscillator has set a new 14-period high while the security price has not. This is a bullish divergence.