In the hearts of New York and metro Los Angeles, Rite Aid deployed the technology in largely lower-income, non-white neighbourhoods, according to a Reuters analysis. In telephone and email exchanges with Reuters since February, Rite Aid confirmed the existence and breadth of its facial recognition programme.

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Qualcomm Technologies (QCOM) has unveiled the Quick Charge 5, the fastest commercial charging technology for Android devices. According to QCOM it “delivers unprecedented mobile phone charging speed and efficiency improvements compared to previous versions while enabling new battery technology, accessories, and safety features.”The charging platform, which can support more than 100W charging power in a smartphone, allows users to charge devices from 0 to 50% battery power in just five minutes. It is also 70% more efficient than Quick Charge 4 and 10 degrees Celsius cooler, and offers 10 times the power delivery of Quick Charge 1, says Qualcomm.“Quick Charge 5, our fastest and most versatile charging solution, will enable consumers to enjoy their devices for longer periods of time, without worrying about the time required to recharge. We are proud to expand our technology portfolio and make accessible 100W+ charging a commercial reality,” said QCOM’s Ev Roach.Right now Quick Charge 5 is currently sampling with customers and is expected to appear in commercial devices in Q3 2020. Quick Charge 5 is supported on Snapdragon 865, 865 Plus, and future premium- and high-tier Snapdragon mobile platforms, the company adds.Shares in Qualcomm rose 4% in Monday’s trading, bringing the stock’s year-to-date gain to 5%. Overall analysts are cautiously optimistic on the stock’s outlook with a Moderate Buy consensus and $100 average analyst price target (8% upside potential). (See QCOM stock analysis on TipRanks).“We are expecting Qualcomm to deliver a beat to consensus estimates based on 5G smart phones gaining traction in China” comments Rosenblatt analyst Kevin Cassidy ahead of the company’s upcoming earnings report on July 29.  But he added “We are cautious on the September quarter revenue outlook as demand for 4G phones has declined.”Ultimately, Cassidy is optimistic on the stock’s long-term outlook, writing “A miss on September quarter revenue should not be a major concern for investors. In our view, the key metrics will be accelerated 5G smart phone introductions and Qualcomm’s increase content per device. This is the first year of a multi-year 5G upgrade cycle.” He has a buy rating on the stock and $105 price target.Related News: Advanced Micro Devices Surges To 52-Week High On Intel’s Woes Intel Faces Analysts’ Wrath, Stock Slips Over 16% AMD Jumps Over 8% On New Line Of Chips More recent articles from Smarter Analyst: * Tesla Said To Launch Hiring Spree In Shanghai To Propel Production * Crispr Therapeutics Down 4% On Earnings Miss; Street Stays Bullish * Spectrum Pops 71% In After-Hours On ‘Positive’ Data For Lung Cancer Treatment * Intel Is Now Ordering Chips From TSMC Following Delays

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Tesla Inc. (TSLA) has launched a recruiting bonanza in Shanghai to hire designers at its China studio and about 1,000 factory workers, job posts seen by Reuters show.The move is part of the U.S. electric vehicle maker’s plan to ramp up manufacturing in the world’s biggest auto market. Back in January, Tesla announced plans to open a design and research centre in China to make “Chinese-style” cars.The posts on the Tesla human resources department’s official WeChat account mark the first time the California-based automaker has sought to hire designers in China. However, the posts did not reveal how many designers Tesla planned to recruit.The company also planned to hire 600 workers at stamping, bodywork, painting and assembly workshops in Shanghai, a separate job post by the Lingang local government showed. Another 150 workers were needed for quality checks, 200 for logistics work and 20 for security, it added.According to the Reuters report, the recruitment drive was partly for the preparation of Model Y sport-utility vehicles at the Shanghai plant. Tesla is building manufacturing facilities for Model Ys in Shanghai from next year.In the past quarter, the car maker delivered over 30,000 units in China, most of them locally made Model 3 sedans. In March it advertised for solar and energy storage project managers in China, as it moves to expand its energy business into the country.Shares rose another 8.7% to $1,539.60 at the close on Monday taking this year’s advance to a whopping 268%.Following Tesla’s stronger-than-expected 2Q earnings release last week, Piper Sandler analyst Alexander Potter lifted the price target to $2,400 (56% upside potential) from $2,322 and reiterated a Buy rating on the shares, saying he still believes the stock "deserves 'must own' status".The analyst noted that it is "undeniably impressive" that Tesla may still exceed 500,000 deliveries in 2020, adding that with market share "inflecting" and self-driving roll-outs on the horizon, he "can't envision" selling the stock now.Meanwhile, the majority of Wall Street analysts are sidelined on the stock with a Hold analyst consensus. In view of this year’s strong rally, the $1,257.04 average analyst price target now implies 18% downside potential for the shares in the coming 12 months. (See Tesla’s stock analysis on TipRanks).Related News: Tesla Gains 4% After-Hours On Upbeat Q2 Earnings Tesla Is Said To Push For Record Q3 Deliveries; Shares Rise In Pre-Market Tesla’s Elon Musk Qualifies For $2B+ Payout Backed By Share Rally More recent articles from Smarter Analyst: * Qualcomm Reveals World’s Fastest Charging Platform Ahead Of Earnings * Crispr Therapeutics Down 4% On Earnings Miss; Street Stays Bullish * Spectrum Pops 71% In After-Hours On ‘Positive’ Data For Lung Cancer Treatment * Intel Is Now Ordering Chips From TSMC Following Delays

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(Bloomberg) — Gold has just smashed a record, and every major bank agrees that it’ll cross $2,000 an ounce. What happens next is where forecasts diverge.JPMorgan Chase & Co. says the rally that has already seen prices rise 27% in 2020 could start to lose steam later this year. Goldman Sachs Group Inc., Citigroup Inc. and Bank of America Corp aren’t ready to call it quits just yet, with the latter seeing the metal soaring to as high as $3,000 an ounce.Gold has emerged as the safe haven of choice among investors as the pandemic upends economies worldwide. The spot metal touched $1,981.27 on Tuesday, about $60 above the previous peak set in 2011, boosted by a drop in real rates, the recent weakness in the dollar, massive government stimulus and flaring U.S.-China tensions. Gold is serving as an attractive hedge as yields on Treasuries that strip out the effects of inflation fall below zero.Gold “will likely see one last hurrah before prices turn lower into year-end,” JPMorgan analysts said in a report Monday. The bank has now turned neutral on gold and added that the current price might be close to a peak.BofA couldn’t hold a more different view, sticking to its April forecast for $3,000-an-ounce gold over the next 18 months. Citigroup said the current gold cycle is “unique” and prices can “stay in a higher range for longer.” Goldman raised its 12-month forecast to $2,300 expecting a “search of a new reserve currency” given a gloomy outlook for the dollar.Signs of gold’s record-breaking ascent began to show in mid-2019, when the Federal Reserve signaled a readiness to cut U.S. interest rates as uncertainty — primarily about the impact of the U.S.’ s trade battles — clouded its outlook. The rally gathered pace in early 2020 as geopolitical tensions increased and the coronavirus outbreak hurt growth worldwide, with gold heading for its biggest annual gain in a decade.All the moves have generated the same fears that had taken gold to its previous record in September 2011 — that the dollar will deteriorate and inflation will spark. But this time around, stimulus measures were quicker and bigger, UBS Group AG said, and it’s still unclear how large the impact on global unemployment and activity could be from the health crisis.There’s still a little bit further to go for gold. Prices should breach $2,000 soon, Citigroup analysts including Aakash Doshi said in a note, raising the bank’s short-term target for the metal to $2,100.“Prices seem biased to stay higher for longer, with 2019-20 emerging into a unique bull regime for the yellow metal,” the bank said, adding that prices could even reach $2,300 in six to 12 months under a bullish scenario.For UBS, gold around $2,000 may be the “new normal” with the current set of drivers, and prices could climb to $2,300 in its “risk” scenario, said Wayne Gordon, executive director for commodities and foreign exchange at UBS’s wealth management unit.But the rally could fade by the middle of next year, with prices coming under pressure as central banks can’t keep the same pace of easing, he said. Investors will start looking at alternatives as economies recover.There is added support for higher prices coming from the futures market, with some Comex contracts already topping $2,000 an ounce. Still, JPMorgan said a scenario in which U.S. real yields go much deeper into negative territory looks unlikely, while inflation will probably remain significantly below the Fed’s 2% target with the U.S. labor market remaining in significant slack well into 2021. That would help cool the gold rally.“Things that we’ve learned from 2020 is to expect the unexpected,” said Kristina Hooper, chief global market strategist at Invesco Ltd. “All in all, I expect gold to move higher but remain in something of a range for a while, and it will take some other catalyst, like a spike in infections, rates in the U.S. or some sort of greater level of geopolitical risk to move it higher.”(Updates with forecasts from Goldman Sachs from second paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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(Bloomberg) — Apple Inc.’s newest services have yet to generate meaningful revenue, making it harder for the largest technology company to expand beyond the iPhone and other hardware.Last year, the Cupertino, California-based company launched four new services: TV+, Arcade, News+ and the Apple Card. After a few quarters on the market, the offerings haven’t contributed much to Apple’s top line.When Apple reports results on July 30, investors will be looking for updates on these offerings. Services growth has been a bright spot in recent years as iPhone sales have slowed. For the fiscal third quarter, analysts forecast $13.1 billion in revenue from services, up 15% from a year earlier. Most of those gains will come from existing services, such as the App Store and licensing deals, rather than the new offerings.The TV+ video-streaming service, which launched last November, has had no blockbusters yet, though some shows and movies have been well-received. Apple offered a one-year free trial with the purchase of a new iPhone or other hardware. Sanford C. Bernstein analyst Toni Sacconaghi estimated earlier this year that fewer than 15% of eligible customers had signed up. Read more: The Early Winners and Losers of the Streaming WarsDuring a keynote presentation at last month’s WWDC conference, Apple said little about the streaming service, according to Sacconaghi. He said there’s “potential need for a strategic reevaluation of TV+” and suggested the company should consider spending more on original content.Apple introduced its Arcade mobile game subscription last September with 100 titles and praise from reviewers. However, the company recently shifted strategy, canceling contracts for some games in development while seeking other titles that it believes will better retain subscribers. Some developers said that suggests subscriber growth has been weaker than expected so far.Read more: Apple Cancels Arcade Games in Strategy Shift To Keep SubscribersThe Apple Card came out in the U.S. last August. It has no annual fee, but the company likely takes a cut of the interest charged by partner Goldman Sachs Group Inc. The bank accumulated about $2 billion in credit lines since launch, a fraction of other co-branded cards, according to a February update by the Nilson Report.The News+ subscription offering may be the least successful so far. When it launched in March 2019, the highest-profile U.S. newspapers — the New York Times and the Washington Post — didn’t take part. Since then, several publishers have complained about lower-than-expected income from the app. The head of business for Apple News stepped down, Bloomberg reported earlier this year.These new services may grow more later. For now, the company is relying a lot on its App Store and third-party developers to spur revenue growth beyond hardware. That’s been going well lately, leaving the company on track to exceed $50 billion in annual Services revenue soon.The App Store generated $32.8 billion in the first half of 2020 for developers, up more than 20% from a year earlier, according to Sensor Tower estimates. Paid subscriptions topped 515 million in the fiscal second quarter.Apple takes a cut of 30% from all paid apps downloaded from the App Store as well as purchases made inside of apps. It also takes 30% from in-app subscriptions, or 15% after the first year. Apple requires billing to be done through its system, but it makes exemptions for apps offering music and video streaming, books, and some cloud services where a user may have already bought a subscription from the developer directly.Ride-sharing and food delivery apps also aren’t required to use Apple’s payment network. And some social-media apps like Snapchat and Instagram make money from advertising, which prevents Apple from taking a cut.When Apple App Store executives meet with high-profile developers, they sometimes encourage them to implement in-app purchases and subscriptions. The message is interpreted by some this way: Your app has enjoyed the benefits of the App Store without contributing to its financial success, according to a person familiar with the meetings.That idea was echoed in June when an update to the email app Hey was barred from the App Store because the developer refused to implement a way to sign up in the app, which would give Apple up to a 30% cut of revenue.“We understand that Basecamp has developed a number of apps and many subsequent versions for the App Store for many years, and that the App Store has distributed millions of these apps to iOS users,” Apple told Hey’s developer. “These apps do not offer in-app purchase — and, consequently, have not contributed any revenue to the App Store over the last eight years.”After the developer complained publicly, Apple said the app can stay as long as it follows the app review guidelines, regardless of implementing in-app purchases or subscriptions.Just the Numbers3Q GAAP EPS estimate $2.06 (range $1.80 to $2.47)3Q revenue estimate $52.2 billion (range $49.25 billion to $55.84 billion)Bloomberg Consensus estimatesiPhone units 30.9 millioniPhone ASP $690.15Services revenue $13.12 billionWearables, home & accessories revenue $6.09 billion3Q gross margin estimate 38%4Q GAAP EPS estimate $2.804Q revenue estimate $62.06 billion4Q gross margin estimate 38.2%Data29 buys, 10 holds, 5 sellsAverage price target $371 (1.2% downside from current price)Implied 1-day share move following earnings: 4.3%GAAP EPS beat estimates in 12 of past 12 quartersTimingEarnings release expected July 30 after market closeConference call websiteFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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F5 Networks (FFIV) reported stronger-than-expected 3Q results fueled by increased demand for digital solutions. Its adjusted earnings of $2.18 per share surpassed analysts’ expectations of $2.04 and came in higher than its guidance of $1.91-$2.13 per share, the company said on July 27.Adjusted revenues in the third quarter increased 4% to $585.9 million year-over-year and beat Street estimates of $572.9 million.“Large enterprise customers are accelerating their digital transformations, increasing their digital engagement, and boosting capacity and security on customer-facing applications and on platforms that enable employee collaboration,” said F5 CEO François Locoh-Donou. “Demand for solutions to meet these immediate and long-term business requirements drove 4% GAAP and non-GAAP revenue growth, and 43% non-GAAP software revenue growth in our third quarter.”Buoyed by better-than-expected 3Q results, the company anticipates non-GAAP revenues in the range of $595-$615 million (mid-point $605 million) and earnings per share between $2.30 and $2.42 (mid-point $2.36). F5 Networks’ top and bottom line outlooks at mid-point are higher than Street estimates of $599 million and $2.29 per share respectively.Ahead of its earnings, RBC Capital analyst Matthew Hedberg raised the stock's price target to $154 from $135 but maintained a Hold. Hedberg remains optimistic about the potential of software and security. However, he is “reserved” on the service provider spending and the systems end-market.Overall, FFIV analysts have a cautiously optimistic Moderate Buy consensus on the stock. The average analyst price target stands at $165.50, implying 9.4% upside potential. (See FFIV stock analysis on TipRanks).Related News: Honeywell Beats 2Q Estimates, Jefferies Raises Price TargetKimberly-Clark Rises On 2Q Earnings Beat and Upbeat GuidanceHalliburton Jumps 5% as 2Q Earnings Top Estimates More recent articles from Smarter Analyst: * Hasbro Reports Q2 Earnings Drop; Shares Fall 7% * Rio Tinto Reveals Maiden Resource At Winu, New Gold Discovery * AMD Biggest Beneficiary of Intel’s 7nm Delay, Says 5-Star Analyst * Intel Engineering Head Leaving After Delay Disaster; Analyst Says Sell Now

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Ross Norman, CEO of Metals Daily, joins Yahoo Finance’s Akiko Fujita to discuss gold prices hitting a new record Monday, along with his outlook on silver.

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