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This Week in Apps: Court orders Apple to implement App Store changes, 2022 forecast, TikTok tries gaming

Welcome back to This Week in Apps, the weekly TechCrunch series that recaps the latest in mobile OS news, mobile applications and the overall app economy. The app industry continues to grow, with a record 218 billion downloads and $143 billion in global..

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Welcome back to This Week in Apps, the weekly TechCrunch series that recaps the latest in mobile OS news, mobile applications and the overall app economy.

The app industry continues to grow, with a record 218 billion downloads and $143 billion in global consumer spend in 2020. Consumers last year also spent 3.5 trillion minutes using apps on Android devices alone. And in the U.S., app usage surged ahead of the time spent watching live TV. Currently, the average American watches 3.7 hours of live TV per day, but now spends four hours per day on their mobile devices.

Apps aren’t just a way to pass idle hours — they’re also a big business. In 2019, mobile-first companies had a combined $544 billion valuation, 6.5x higher than those without a mobile focus. In 2020, investors poured $73 billion in capital into mobile companies — a figure that’s up 27% year-over-year.

This Week in Apps offers a way to keep up with this fast-moving industry in one place with the latest from the world of apps, including news, updates, startup fundings, mergers and acquisitions, and suggestions about new apps and games to try, too.

Do you want This Week in Apps in your inbox every Saturday? Sign up here: techcrunch.com/newsletters

Top Stories

Apple lost its request to delay App Store changes

Image Credits: Andrew Harrer / Bloomberg / Getty Images

A federal judge ruled this week that Apple can’t push back the deadline to update its App Store policies, as previously ordered in the court’s decision on California’s Epic Games v. Apple lawsuit. Though Apple largely won that case when the judge declared that Apple was not acting as a monopolist (as Epic Games had alleged), the court sided with the Fortnite maker on the matter of Apple’s anti-steering policies regarding restrictions on in-app purchases.

The original ruling stated that Apple would no longer be allowed to prohibit developers from pointing to other means of payment besides Apple’s own payment systems. But Apple wanted that decision put on hold until its appeals case was decided — a delay that would have effectively pushed back the App Store changes by a matter of years.

The judge heard Apple’s requests for a stay on the injunction that was ordered, which would have pushed back the December 9 deadline which forces Apple to start allowing links to alternative payment options inside apps.

The question is now whether or not Apple will actually comply (in the way developers are imagining) and if so, how exactly it will interpret the ruling. In South Korea, Apple was ordered to do something similar but said it believed it was already in compliance due to how the law was written, leading to further discussions between it and regulators. Meanwhile, Google complied with the South Korean law but noted it still requires commissions for third-party payments, just at a reduced rate. While it’s a major step to see any of these app stores open up at all, these moves indicate that the language used to direct changes across the app store has to be precise, or else the companies will find a loophole.

In the meantime, Apple says it intends to ask the Ninth Circuit for a stay as it believes “no additional business changes should be required to take effect until all appeals in this case are resolved.”

Epic Games CEO Tim Sweeney pointed out the judge’s ruling was good for developers, not necessarily good for Epic itself, as Apple plans to block Fortnite from the App Store throughout the appeal process.

2022 Mobile Forecast

App Annie released its annual mobile forecast, this time predicting six major trends to keep your eyes on for the year ahead. Its key takeaways?

  • TikTok will continue its rocketship growth. The firm predicts the app will reach 1.5 billion active users — a figure it will reach 1.75 years faster than WhatsApp did.
  • Big new milestones are ahead for a number of top apps. Pinterest and Temple Run 2 will reach 1 billion downloads. Subway Surfers will hit 2 billion. TikTok will reach 3 billion and reach $3 billion in consumer spending.
  • Metaverse apps will gain big. The apps (e.g. Roblox, Minecraft) will see over $3 billion in consumer spending.
  • Gen Z fintech apps will grow. Mobile-first fintech apps will grow by 160% in 2022, with crypto driving adoption.
  • Video streaming subscription apps will also win big, as entertainment apps hit $12 billion in consumer spending.
  • Creator economy heats up on mobile. Social apps will see $9 billion in App Store spending thanks to creators.

Weekly News

Platforms: Apple

  • Apple to keep App Store Connect open over the holidays. In a change from previous years, Apple said it will keep the App Store open to developer submissions over the 2021 holidays. However, it cautioned that during the dates of November 24 to 28 and from December 23 to 27, submissions may take longer — signaling it’s running with a reduced staff.
  • Apple releases iOS 15.2 into beta. The standout addition in this release is Apple’s new safety feature for kids in iMessage, which allows parents to block potentially sensitive photos in iMessage that may contain nudity, and alert parents if kids decide to view the messages anyway. Other notable new additions include the new Digital Legacy program that allows users to designate people as “Legacy Contacts” who can access your account and personal info in the event of your death, and the new Find My app feature that will alert users to “Unknown Items” that are following you around (an anti-stalking feature). The Apple TV app also got a visual refresh on iPad.
  • Apple reminded developers that a COVID-era deferral on in-app purchases related to virtual group events is nearing its end. In 2020, Apple temporarily deferred the requirement to offer paid online group event services (one-to-few and one-to-many real-time services) through its in-app purchase system. This included businesses like online tutoring, medical consultations, real estate tours, virtual fitness and more. As COVID raged on, Apple deferred that deadline twice more, to June 2021 and then to December 2021, with the goal of supporting businesses impacted by the pandemic. But it now says the deadline will not be pushed again and apps will have to implement IAP by December 31, 2021, or they won’t be approved.

Apple Business Essentials device management interface on MacBook Pro, iPad and iPhone

Image Credits: Apple

  • Apple introduced its own device management platform for smaller businesses, Apple Business Essentials. The solution is aimed at businesses with fewer than 500 employees, and includes device management, storage and support in a single subscription. (The storage piece can be iCloud or a third-party provider) and support is offered both to admins and employees through AppleCare+. The new product emerged from a combination of Apple’s Fleetsmith acquisition and its Apple Device Enrollment Program. 

Platforms: Google

  • Google this week recapped its #AndroidDevSummit announcements, culminating in the release of Jetpack Compose 1.1 beta. The new APIs in 1.1 are now stable, and offer new functionality and performance improvements, the company noted. 1.1 also introduces new features like improved focus handling and touch target sizing or ImageVector caching and support for Android 12 stretch overscroll. And it graduates a number of experimental APIs to stable and supports newer versions of Kotlin.
  • Google additionally noted it has released compose-material3, a new artifact for building Material You UIs with Jetpack Compose. It offers updated components and color system, including support for dynamic color, creating a personalized color palette from a user’s wallpaper.

E-commerce & Food Delivery

  • YouTube is launching a holiday “Stream and Shop” event on November 15-22 which will feature a week of livestreams from creators and brands offering a look at favorite products, deals and discounts.
  • NBCU’s Bravo cable brand is livestreaming a shopping show on Instagram on Black Friday. The show will be hosted by curve model and TikTok influencer Remi Bader, and called “Impulse Try with Remi Bader.” Fans will be able to ask Bader questions about merchandise in real time while viewing items for sale.
  • Apple’s own Apple Store app added a new “Lists” feature that makes it easier to save the items you’re thinking of buying, which can also be shared with a specialist in-store. The app also added videos with audio descriptions that detail the products.
  • Facebook launched Shops in Groups and improved Live Shopping for Creators. The former would allow a group to raise funds by selling merch, while the latter will allow influencers and brands to promote cross-streaming live events, instead of pointing to each other’s pages.
  • Instacart rolled out a new “Deals Tab” in its app where it featured reduced and free delivery options in select markets. The feature will offer daily coupons, sales, bulk product discounts and more. Another feature called “Dollar Store Hub” will allow users to shop from discount stores like Dollar Tree, 99 Cents Only Store, Five Below and Family Dollar.

Image Credits: Instacart

Augmented Reality

  • Niantic places its bet on a “real-world” AR metaverse. The Pokémon GO maker announced the launch of Lightship, an AR Developer Kit (ARDK) that makes it easier to build AR experiences. In introducing the new tools, CEO John Hanke referred to Meta (Facebook)’s vision of a VR metaverse as a “dystopian nightmare” and said his company’s tools would bring people together in person — in the real world, not a virtual one.

Fintech

  • Coinbase stock sank over 13% after missing analyst estimates on its Q3 earnings with $1.31 billion versus the $1.57 billion expected. The company also said monthly transacting users fell from 8.8 million in Q2 to 7.4 million in Q3, and trading volume fell to $327 billion from $462 billion.
  • Discord paused its plans to explore crypto integrations and NFTs after significant backlash from the platform’s users. The company clarified the original screenshot it had shared was part of a hackathon project, not an official announcement. Some fans were concerned over the environmental impacts of cryptocurrency mining while some had objections to “NFT bros.” And others were worried about the potential for crypto scams across Discord. Users were encouraging each other to cancel their subscriptions in protest, leading to the company’s decision to press pause.

Social

Image Credits: Sensor Tower

  • TikTok (including Douyin) remained the most-download app worldwide in October 2021 in the non-games category with more than 57 million installs, per Sensor Tower data. China contributed to 17% of installs, followed by the U.S. at 11%. Instagram was the second most downloaded app, with 56 million installs, a 31% year-over-year increase.
  • Instagram announced the company is testing a new feature called “Take a Break,” which will allow users to remind themselves to take a break from using the app after either 10, 20 or 30 minutes, depending on their preferences. As an opt-in feature, however, the reminders may have a limited impact, as users would have to be motivated to set up the new control for themselves.
  • Instagram is also offering huge creator bonuses for posting content on its TikTok rival, Reels. Some creators are reporting earning up to $10,000 in monthly bonus money, but the system’s criteria is opaque, making the reward feel more like a lottery win than an income. In another challenge to TikTok, Instagram added text-to-speech and voice effects tools to Reels, as well.
  • Instagram looks ready to launch creator subscriptions. On November 1, the company added new in-app purchases to its U.S. app, which are labeled “Instagram Subscriptions” and range in price from $0.99 to $4.99. When we asked what was up, the company said it had nothing to share at this time.
  • Facebook announced new partners for its Creative App Platform, first introduced at F8, which allows people to discover creative apps directly in Facebook Stories. It’s now working with VivaVideo, and Vita, which will soon be joined by Picsart, Camera360 and Sweet Selfie.

Messaging

  • WhatsApp is working on Novi integration. An APK teardown revealed the messaging app may soon be integrating with Facebook’s (um, Meta’s) digital wallet, Novi, according to details in the app’s code.
  • Meta (formerly, Facebook)’s WhatsApp has been given the green light to proceed with a lawsuit against Israeli spyware firm NSO Group. Meta sued NSO Group in 2019, which tried to defend itself by way of the Foreign Sovereign Immunity Act. The court decided because the NSO Group a private company, the lawsuit can continue. The firm had infected 1,400 devices with WhatsApp malware.

Streaming & Entertainment

Image Credits: Netflix

  • Netflix added a short-form video feature to Kids’ profiles in its iOS app. The company said it’s testing a new feature that would introduce kids to its content library by way of short, auto-playing clips. The new addition has some resemblance to the TikTok-inspired Fast Laughs feature for adult profiles, except that these videos are horizontal, not vertical, and a timer counts down how many clips are left to watch.
  • YouTube expanded its test that launches mobile users directly into its TikTok-like product, YouTube Shorts, if that was the area of the app users had last visited. The feature is being tested globally on iOS and is now expanding to Android, TechCrunch confirmed.
  • Clubhouse announced the launch of a new feature called Replays on iOS and Android that makes its live audio programs available to listen to after the fact. The app’s public rooms can optionally be recorded as they happen and then saved to a club or user profile. The Replays will also be downloadable so that anyone hosting a room can share it externally, beyond Clubhouse, “as a podcast, a clip on YouTube, an Instagram story, a TikTok video, or anywhere else,” the company said.
  • Amazon’s Prime Video app introduced a new feature that allows users to create shareable clips from favorite shows. The feature is initially available only in the U.S. on iOS, and only on a limited number of originals, including “The Boys,” “The Wilds,” “Invincible” and “Fairfax.” The company says it plans to add more shows in the future. The feature is notable as most video apps block any sort of sharing and even make screenshots come out all black.

Image Credits: Amazon

  • The Google TV app introduced a new option that will alert you when content you’ve added to your watchlist becomes available for free. The feature can be enabled in the app’s Settings.
  • London-based music tech app TagMix, which allows users to add pro-quality sounds to live video, entered into a licensing agreement with Warner Music Group (WMG) providing the app with access to a selection of the company’s artists.
  • Spotify launched a new destination for its music charts that aims to give both artists and fans more data. The site will feature the Weekly Top 50 Global Songs, Albums and Artists, and logged-in users can dive into the full Top 200 Global Songs, Albums and Artists charts, as well as view detailed stats like streaks, peak position, song credits and the brand new Genre, City and Local Pulse charts.
  • Spotify also finally rolled out a blocking feature that allows users to block others from viewing their listening activity and profile on the app. Users have been asking for such an option since at least 2018.
  • YouTube is removing the “dislike” count on videos across its platform. The decision is likely to be controversial, given the extent that it impacts the public’s visibility into a video’s reception. But YouTube believes the change will better protect its creators from harassment and reduce the threat of what it calls “dislike attacks.” While dislike counts won’t be visible to the public, YouTube is not removing the dislike button itself. Users can still click the thumbs down button on videos to signal their dislike to creators privately.

Image Credits: YouTube

Gaming

  • TikTok Gaming? Zynga is teaming up with TikTok to release an exclusive HTML5 game on the short-form video app. The game, “Disco Loco 3D,” is a single-player endless runner where players collect their own dance moves while challenging friends, avoiding obstacles and collecting medallions as they walk down a catwalk, similar in spirit to Zynga’s “High Heels.” While TikTok says the game is meant to test its audience’s general interest in gaming within its app, the company confirmed that discussions with other game makers are already underway.
  • Zynga reported record third-quarter revenue of $705 million, up 40% from the same period last year, and reached its largest mobile audience ever of 183 million monthly active users, up 120% year over year. The company spoke to TechCrunch about navigating the advertising crisis, blockchain gaming and other plans.
  • Casual game ad costs have declined 38% since the launch of iOS 14.6, but core ad costs are up 78%, according to Moloco (via Business of Apps). The Cost per Install for casual games (arcade, card, puzzle) on iOS dropped 45%, compared to 30% on Android.
  • The top-grossing mobile game in October 2021 was Tencent’s Honor of Kings, which earned $329 million in player spending, up 46.2% YoY, reports Sensor Tower; 96.7% of that revenue was from China, with 1.2% from Taiwan. Tencent’s PUBG Mobile was the second-highest earner with $197 million in gross revenue, where 51% was from China and 11.5% was from the U.S. The remaining top-grossing games were (in order), King’s Candy Crush Saga, Garena’s Garena Free Fire and Riot Games’ League of Legends: Wild Right.

Image Credits: Sensor Tower

Health & Fitness

  • Meditation app Calm added a new family plan that supports up to six accounts. The “Premium Family” subscription mirrors those you’d find on music streaming services, and is $99.99 per year instead of the $69.99 for an individual plan.

Image Credits: Calm

Travel & Transportation

  • China’s Didi is preparing to relaunch its ride-hailing and other apps in China by year-end, following the close of Beijing’s cybersecurity investigation into the company’s data practices.

Productivity

Image Credits: Google

  • Google introduced a new Gmail widget for iOS home screens to help users better manage their inbox. The widget will now display the senders and subjects of your most recent emails, similar to how its Android widget works.
  • Google also added picture-in-picture support for Google Meet on iOS so you can move between apps and exit to your home screen while in a video call. The feature will launch on the Gmail app in the next few weeks, as well, the company said.

Utilities

  • Google is testing a new voice assistant designed for people with speech impairments. The Android app, known as Project Relate, is accepting signups in the hopes of gathering enough participants to give it enough data to train the speech recognition engines.
  • Google Maps on iOS now has a dark mode on iOS. The new theme doesn’t just switch the map to black, but makes the other app elements black as well, like the navigation buttons and bars. The feature is available under the Settings screen accessed under your profile icon.
  • Google removed Google Assistant’s “Your News Update” feature, first launched in 2019, which offered personalized audio digests based on user data. Users could customize the feature in Assistant’s settings, then play back the news over other devices, like Google Home speakers.
  • The Google Recorder added support for three new languages: French, German and Japanese. The update is rolling out first to Pixel 6 and 6 Pro devices.

Government & Policy

  • FOIA records show that the U.S. Treasury bought location data and other smartphone app data from the company Babel Street to find people dodging taxes and sanctions, The Intercept reported.
  • Mississippi is piloting a mobile driver license as a first step toward developing a multipurpose digital ID wallet that would store a range of state certificates and licenses. The move follows Utah’s mobile driver license and Apple’s announcement in September of eight U.S. states signed up to adopt mobile IDs, including Utah, as well as Arizona, Connecticut, Georgia, Iowa, Kentucky, Maryland and Oklahoma.
  • The U.K.’s Supreme Court dismissed a lawsuit against Google that sought $4 billion for allegedly tracking iOS Safari users without consent during 2011 and 2012.
  • Chinese tech companies are censoring language-learning apps and others, Protocol reported. Language-learning app Talkmate removed the Uyghur and Tibetan language offerings due to government policies, then Chinese streaming service Bilibili banned comments posted in Uyghur and Tibetan.

Security & Privacy

  • Security researchers uncovered new spyware that’s targeting South Korean Android users by masquerading as legitimate lifestyle apps. But in reality, the spyware is stealing data from the user’s device, including login credentials, messages and precise location and images.
  • A researcher detailed a hacker-for-hire operation, RocketHack, which had infiltrated the email and Telegram apps of some 3,500 people, including politicians, political candidates, IVF doctors, human rights activists, engineers and others.

Funding and M&A

 Spotify announced its plans to acquire digital audiobook distributor Findaway, whose business connects creators with reseller partners like Apple, Google, Scribd, Audible, Nook, Rakuten Kobo, Chirp, Storytel (a Spotify partner), Overdrive, Audiobooks.com and dozens of other global brands. It also operates a collection of brands that connect publishers and authors with narrators. Spotify declined to share the financial terms of the deal, which is expected to close in the fourth quarter of 2021, subject to regulatory review and approval. The company said it will make more audiobooks available in its app starting next year.

Taipei-based instant booking app FunNow raised $15 million in Series B funding co-led by Perfect Hexagon Commodity & Investment Bank and Ascendo Ventures.

Seoul-based edtech company Mathpresso, the makers of the AI learning app QANDA, added an undisclosed investment from Google, which comes five months after the company’s $50 million Series C. More than 85% of QANDA’s 45 million registered users are outside of Korea, in Japan and Southeast Asia.

London-based Blink, a productivity app for frontline works, raised $20 million in Series A funding led by Next47, valuing the business at $100 million. The app has strong traction with metropolitan bus networks, where it’s used by 5,000 drivers who do things like check payslips, shifts and holiday and overtime pay, as well as read announcements and chat with others. The company is now planning to relocate to NYC.

Daily, a startup offering APIs that let developers add video and audio features to apps and websites, raised $40 million in Series B funding led by Renegade Partners. The round brought Daily’s total raise to date to $60 million.

Downloads

Snax

Image Credits: Snax

This fun, new streaming app combines gameplay with its short-form content. The Snax app offers original mini-movies where you play along — either by making choose-your-own-adventure choices for the characters, figuring out riddles, helping hunt for clues in murder mysteries or, soon, even playing games like chess or poker as part of the story. The videos are created by partnered writers and filmmakers, while Snax adds the interactive elements to make the films engaging. Users watch shorter clips then play the game or solve the puzzle before moving on. (Don’t worry, hints are available if you’re stumped!) The app is a free download but offers in-app subscriptions to stream all its series.

VeVe Collectibles

Image Credits: VeVe Collectibles

This digital collectibles app isn’t brand new (it launched this year), but it soared up the charts this week to break into the top of the App Store. The app allows users to collect and display limited-edition 3D sculptures of their favorites across pop culture, gaming, sports, film and TV, anime and animation. This includes collectibles from top brands like Batman, Adventure Time, Monster Hunter, NFL, DC Collectibles, Star Trek, Jurassic Park, Fast and the Furious, Back to the Future, Ultraman, Superman and others. This week, the app got a boost from the announcement that Disney was partnering with it for its Disney+ Day on November 12. The companies launched a series of digital collectible NFTs — “Golden Moments” — that were inspired by stories from Disney, Pixar, Marvel and Star Wars. In some markets, the purchase of a Golden Moments NFT also came with three months of Disney+. An ultra-rare collectible was also available on Disney+ day, which came with 12 free months.

Tweets

Michael Flarup is bringing his book about icon design to life, via a Kickstarter campaign. The book will feature hundreds of works of art from design teams worldwide.

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International

Analyst reviews Apple stock price target amid challenges

Here’s what could happen to Apple shares next.

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They said it was bound to happen.

It was Jan. 11, 2024 when software giant Microsoft  (MSFT)  briefly passed Apple  (AAPL)  as the most valuable company in the world.

Microsoft's stock closed 0.5% higher, giving it a market valuation of $2.859 trillion. 

It rose as much as 2% during the session and the company was briefly worth $2.903 trillion. Apple closed 0.3% lower, giving the company a market capitalization of $2.886 trillion. 

"It was inevitable that Microsoft would overtake Apple since Microsoft is growing faster and has more to benefit from the generative AI revolution," D.A. Davidson analyst Gil Luria said at the time, according to Reuters.

The two tech titans have jostled for top spot over the years and Microsoft was ahead at last check, with a market cap of $3.085 trillion, compared with Apple's value of $2.684 trillion.

Analysts noted that Apple had been dealing with weakening demand, including for the iPhone, the company’s main source of revenue. 

Demand in China, a major market, has slumped as the country's economy makes a slow recovery from the pandemic and competition from Huawei.

Sales in China of Apple's iPhone fell by 24% in the first six weeks of 2024 compared with a year earlier, according to research firm Counterpoint, as the company contended with stiff competition from a resurgent Huawei "while getting squeezed in the middle on aggressive pricing from the likes of OPPO, vivo and Xiaomi," said senior Analyst Mengmeng Zhang.

“Although the iPhone 15 is a great device, it has no significant upgrades from the previous version, so consumers feel fine holding on to the older-generation iPhones for now," he said.

A man scrolling through Netflix on an Apple iPad Pro. Photo by Phil Barker/Future Publishing via Getty Images.

Future Publishing/Getty Images

Big plans for China

Counterpoint said that the first six weeks of 2023 saw abnormally high numbers with significant unit sales being deferred from December 2022 due to production issues.

Apple is planning to open its eighth store in Shanghai – and its 47th across China – on March 21.

Related: Tech News Now: OpenAI says Musk contract 'never existed', Xiaomi's EV, and more

The company also plans to expand its research centre in Shanghai to support all of its product lines and open a new lab in southern tech hub Shenzhen later this year, according to the South China Morning Post.

Meanwhile, over in Europe, Apple announced changes to comply with the European Union's Digital Markets Act (DMA), which went into effect last week, Reuters reported on March 12.

Beginning this spring, software developers operating in Europe will be able to distribute apps to EU customers directly from their own websites instead of through the App Store.

"To reflect the DMA’s changes, users in the EU can install apps from alternative app marketplaces in iOS 17.4 and later," Apple said on its website, referring to the software platform that runs iPhones and iPads. 

"Users will be able to download an alternative marketplace app from the marketplace developer’s website," the company said.

Apple has also said it will appeal a $2 billion EU antitrust fine for thwarting competition from Spotify  (SPOT)  and other music streaming rivals via restrictions on the App Store.

The company's shares have suffered amid all this upheaval, but some analysts still see good things in Apple's future.

Bank of America Securities confirmed its positive stance on Apple, maintaining a buy rating with a steady price target of $225, according to Investing.com

The firm's analysis highlighted Apple's pricing strategy evolution since the introduction of the first iPhone in 2007, with initial prices set at $499 for the 4GB model and $599 for the 8GB model.

BofA said that Apple has consistently launched new iPhone models, including the Pro/Pro Max versions, to target the premium market. 

Analyst says Apple selloff 'overdone'

Concurrently, prices for previous models are typically reduced by about $100 with each new release. 

This strategy, coupled with installment plans from Apple and carriers, has contributed to the iPhone's installed base reaching a record 1.2 billion in 2023, the firm said.

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Apple has effectively shifted its sales mix toward higher-value units despite experiencing slower unit sales, BofA said.

This trend is expected to persist and could help mitigate potential unit sales weaknesses, particularly in China. 

BofA also noted Apple's dominance in the high-end market, maintaining a market share of over 90% in the $1,000 and above price band for the past three years.

The firm also cited the anticipation of a multi-year iPhone cycle propelled by next-generation AI technology, robust services growth, and the potential for margin expansion.

On Monday, Evercore ISI analysts said they believed that the sell-off in the iPhone maker’s shares may be “overdone.”

The firm said that investors' growing preference for AI-focused stocks like Nvidia  (NVDA)  has led to a reallocation of funds away from Apple. 

In addition, Evercore said concerns over weakening demand in China, where Apple may be losing market share in the smartphone segment, have affected investor sentiment.

And then ongoing regulatory issues continue to have an impact on investor confidence in the world's second-biggest company.

“We think the sell-off is rather overdone, while we suspect there is strong valuation support at current levels to down 10%, there are three distinct drivers that could unlock upside on the stock from here – a) Cap allocation, b) AI inferencing, and c) Risk-off/defensive shift," the firm said in a research note.

Related: Veteran fund manager picks favorite stocks for 2024

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International

Major typhoid fever surveillance study in sub-Saharan Africa indicates need for the introduction of typhoid conjugate vaccines in endemic countries

There is a high burden of typhoid fever in sub-Saharan African countries, according to a new study published today in The Lancet Global Health. This high…

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There is a high burden of typhoid fever in sub-Saharan African countries, according to a new study published today in The Lancet Global Health. This high burden combined with the threat of typhoid strains resistant to antibiotic treatment calls for stronger prevention strategies, including the use and implementation of typhoid conjugate vaccines (TCVs) in endemic settings along with improvements in access to safe water, sanitation, and hygiene.

Credit: IVI

There is a high burden of typhoid fever in sub-Saharan African countries, according to a new study published today in The Lancet Global Health. This high burden combined with the threat of typhoid strains resistant to antibiotic treatment calls for stronger prevention strategies, including the use and implementation of typhoid conjugate vaccines (TCVs) in endemic settings along with improvements in access to safe water, sanitation, and hygiene.

 

The findings from this 4-year study, the Severe Typhoid in Africa (SETA) program, offers new typhoid fever burden estimates from six countries: Burkina Faso, Democratic Republic of the Congo (DRC), Ethiopia, Ghana, Madagascar, and Nigeria, with four countries recording more than 100 cases for every 100,000 person-years of observation, which is considered a high burden. The highest incidence of typhoid was found in DRC with 315 cases per 100,000 people while children between 2-14 years of age were shown to be at highest risk across all 25 study sites.

 

There are an estimated 12.5 to 16.3 million cases of typhoid every year with 140,000 deaths. However, with generic symptoms such as fever, fatigue, and abdominal pain, and the need for blood culture sampling to make a definitive diagnosis, it is difficult for governments to capture the true burden of typhoid in their countries.

 

“Our goal through SETA was to address these gaps in typhoid disease burden data,” said lead author Dr. Florian Marks, Deputy Director General of the International Vaccine Institute (IVI). “Our estimates indicate that introduction of TCV in endemic settings would go to lengths in protecting communities, especially school-aged children, against this potentially deadly—but preventable—disease.”

 

In addition to disease incidence, this study also showed that the emergence of antimicrobial resistance (AMR) in Salmonella Typhi, the bacteria that causes typhoid fever, has led to more reliance beyond the traditional first line of antibiotic treatment. If left untreated, severe cases of the disease can lead to intestinal perforation and even death. This suggests that prevention through vaccination may play a critical role in not only protecting against typhoid fever but reducing the spread of drug-resistant strains of the bacteria.

 

There are two TCVs prequalified by the World Health Organization (WHO) and available through Gavi, the Vaccine Alliance. In February 2024, IVI and SK bioscience announced that a third TCV, SKYTyphoid™, also achieved WHO PQ, paving the way for public procurement and increasing the global supply.

 

Alongside the SETA disease burden study, IVI has been working with colleagues in three African countries to show the real-world impact of TCV vaccination. These studies include a cluster-randomized trial in Agogo, Ghana and two effectiveness studies following mass vaccination in Kisantu, DRC and Imerintsiatosika, Madagascar.

 

Dr. Birkneh Tilahun Tadesse, Associate Director General at IVI and Head of the Real-World Evidence Department, explains, “Through these vaccine effectiveness studies, we aim to show the full public health value of TCV in settings that are directly impacted by a high burden of typhoid fever.” He adds, “Our final objective of course is to eliminate typhoid or to at least reduce the burden to low incidence levels, and that’s what we are attempting in Fiji with an island-wide vaccination campaign.”

 

As more countries in typhoid endemic countries, namely in sub-Saharan Africa and South Asia, consider TCV in national immunization programs, these data will help inform evidence-based policy decisions around typhoid prevention and control.

 

###

 

About the International Vaccine Institute (IVI)
The International Vaccine Institute (IVI) is a non-profit international organization established in 1997 at the initiative of the United Nations Development Programme with a mission to discover, develop, and deliver safe, effective, and affordable vaccines for global health.

IVI’s current portfolio includes vaccines at all stages of pre-clinical and clinical development for infectious diseases that disproportionately affect low- and middle-income countries, such as cholera, typhoid, chikungunya, shigella, salmonella, schistosomiasis, hepatitis E, HPV, COVID-19, and more. IVI developed the world’s first low-cost oral cholera vaccine, pre-qualified by the World Health Organization (WHO) and developed a new-generation typhoid conjugate vaccine that is recently pre-qualified by WHO.

IVI is headquartered in Seoul, Republic of Korea with a Europe Regional Office in Sweden, a Country Office in Austria, and Collaborating Centers in Ghana, Ethiopia, and Madagascar. 39 countries and the WHO are members of IVI, and the governments of the Republic of Korea, Sweden, India, Finland, and Thailand provide state funding. For more information, please visit https://www.ivi.int.

 

CONTACT

Aerie Em, Global Communications & Advocacy Manager
+82 2 881 1386 | aerie.em@ivi.int


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US Spent More Than Double What It Collected In February, As 2024 Deficit Is Second Highest Ever… And Debt Explodes

US Spent More Than Double What It Collected In February, As 2024 Deficit Is Second Highest Ever… And Debt Explodes

Earlier today, CNBC’s…

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US Spent More Than Double What It Collected In February, As 2024 Deficit Is Second Highest Ever... And Debt Explodes

Earlier today, CNBC's Brian Sullivan took a horse dose of Red Pills when, about six months after our readers, he learned that the US is issuing $1 trillion in debt every 100 days, which prompted him to rage tweet, (or rageX, not sure what the proper term is here) the following:

We’ve added 60% to national debt since 2018. Germany - a country with major economic woes - added ‘just’ 32%.   

Maybe it will never matter.   Maybe MMT is real.   Maybe we just cancel or inflate it out. Maybe career real estate borrowers or career politicians aren’t the answer.

I have no idea.  Only time will tell.   But it’s going to be fascinating to watch it play out.

He is right: it will be fascinating, and the latest budget deficit data simply confirmed that the day of reckoning will come very soon, certainly sooner than the two years that One River's Eric Peters predicted this weekend for the coming "US debt sustainability crisis."

According to the US Treasury, in February, the US collected $271 billion in various tax receipts, and spent $567 billion, more than double what it collected.

The two charts below show the divergence in US tax receipts which have flatlined (on a trailing 6M basis) since the covid pandemic in 2020 (with occasional stimmy-driven surges)...

... and spending which is about 50% higher compared to where it was in 2020.

The end result is that in February, the budget deficit rose to $296.3 billion, up 12.9% from a year prior, and the second highest February deficit on record.

And the punchline: on a cumulative basis, the budget deficit in fiscal 2024 which began on October 1, 2023 is now $828 billion, the second largest cumulative deficit through February on record, surpassed only by the peak covid year of 2021.

But wait there's more: because in a world where the US is spending more than twice what it is collecting, the endgame is clear: debt collapse, and while it won't be tomorrow, or the week after, it is coming... and it's also why the US is now selling $1 trillion in debt every 100 days just to keep operating (and absorbing all those millions of illegal immigrants who will keep voting democrat to preserve the socialist system of the US, so beloved by the Soros clan).

And it gets even worse, because we are now in the ponzi finance stage of the Minsky cycle, with total interest on the debt annualizing well above $1 trillion, and rising every day

... having already surpassed total US defense spending and soon to surpass total health spending and, finally all social security spending, the largest spending category of all, which means that US debt will now rise exponentially higher until the inevitable moment when the US dollar loses its reserve status and it all comes crashing down.

We conclude with another observation by CNBC's Brian Sullivan, who quotes an email by a DC strategist...

.. which lays out the proposed Biden budget as follows:

The budget deficit will growth another $16 TRILLION over next 10 years. Thats *with* the proposed massive tax hikes.

Without them the deficit will grow $19 trillion.

That's why you will hear the "deficit is being reduced by $3 trillion" over the decade.

No family budget or business could exist with this kind of math.

Of course, in the long run, neither can the US... and since neither party will ever cut the spending which everyone by now is so addicted to, the best anyone can do is start planning for the endgame.

Tyler Durden Tue, 03/12/2024 - 18:40

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