Apple (AAPL - Free Report) has permanently banned “right-wing conspiracy theorist” Alex Jones’ Infowars after Twitter (TWTR - Free Report) . The application has been removed from App Store as the content of Infowars was not per the “objectionable content” norms.
Notably, Alex Jones has been banned by various social media players over the past few months including the likes of Facebook (FB - Free Report) and Alphabet’s (GOOGL - Free Report) YouTube.
With the 2018 US mid-term elections approaching, social media companies are even more careful about maintaining transparency.
With Twitter CEO Jack Dorsey and Facebook COO Sheryl Sandberg testifying in front of the members of Congress about the measures to curb the proliferation of fake news on its platform, the companies are all the more focused on taking relevant initiatives.
Notably, Services — including revenues from Internet Services, App Store, Apple Music among others — has emerged as Apple's new cash cow. App Store draws the attention of prominent developers from around the world, helping the company offer appealing new features, which help drive App Store visits. The clean-up of the App Store is expected to benefit the company in the long run and hence its financials.
Apple’s third-quarter fiscal 2018 results created new records in a seasonally slow period. Net sales increased 17.3% year over year to $53.27 billion, which surpassed the Zacks Consensus Estimate of $52.34 billion. Apple benefited from robust iPhone and Services segment revenue growth.
The company is benefiting from robust iPhone sales, driven by higher average selling price (ASP) and a loyal customer base. Moreover, robust demand for wearables is expected to drive results. Also, higher unit volume of iPhones, particularly old models, benefits the Services segment.
As customers increase the usage of Apple Music and Apple Pay, Services revenues are expected to increase manifold. Further, the recent acquisition of Akonia Holographics, a manufacturer of lenses for augmented reality (AR) glasses, strengthens our belief that Apple is looking to foray into the wearable AR glasses space.
Moreover, the company is testing self-driving vehicles, as revealed in a recent filing with the California Department of Motor Vehicles. Entry into the virtual reality (VR) and artificial intelligence domain is also expected to be a positive for this Zacks Rank #1 (Strong Buy) stock.
You can see the complete list of today’s Zacks #1 Rank stocks here.
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