Apple Watch Import Ban, Intel’s Foundry Business, and OpenAI’s Valuation 12/26/23

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Management, Cnbc, Tech, Faang, Investing, Business, Disruptors, Technology

4.5 • 66 Ratings

🗓️ 26 December 2023

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

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Summary

A trio of topics for today’s podcast - Apple has now been banned from importing and selling the latest line of Apple Watches in the U.S., stemming from a patent dispute over the blood-oxygen sensors in the devices. Intel is getting several billion dollars to build a new chip factory. And OpenAI is reportedly in talks to raise a fresh round of funding at a valuation of $100 billion or more.

Transcript

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0:00.0	So Biden administration over the weekend did not give Apple what it wanted for Christmas.
0:04.7	The U.S. Trade Representative Office ended up not vetoing the International Trade Commission decision
0:10.5	to ban Apple watch sales here in the US by the deadline yesterday.
0:14.3	Ban is now in full effect starting today and this all stems from a patent dispute
0:19.6	of the blood oxygen sensor technology brought against Apple by this tech company
0:24.1	called Mossimo. Now Apple says it is working to make changes to the Apple watch so it
0:28.7	doesn't violate those Mossimo patents and it hopes to start selling again soon.
0:32.4	Also just a few hours ago filed an appeal of patents and it hopes to start selling again soon.
0:32.8	Also, just a few hours ago, filed an appeal asking for a stay on the ban
0:37.5	until customs and border control can determine if patents are violated.
0:41.4	That's supposed to happen by January 12th.
0:43.3	But in the meantime, you cannot buy an Applewatch.
0:45.5	They're banned from selling the two latest models
0:48.0	that just launched in September.
0:49.9	That's the Series 9 and Ultra 2 here in the United States. The Apple Watch SE. the third-party stores like Best Buy or Amazon and so forth, they can still sell their
1:04.6	remaining inventory, but Apple cannot sell anything from its stores.
1:09.6	Now look for the revenue impact here.
1:11.2	Morgan Stanley analyst last week,
1:13.2	estimating less than 2% of Apple revenue
1:16.4	will be affected by this ban,
1:18.0	assuming it lasts through the entire March quarter.
1:20.3	And Apple is going to miss about 135 million dollars in sales for each week the
	...

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