Tag: Motley Fool

Qantas Airways Limited (ASX: QAN)’s share price shot up 4.36% on Tuesday, as the market awaited its financial results to be revealed on Thursday.

The airline itself didn’t make any announcements to the ASX on Tuesday. 

But investors could have been reacting to rival Regional Express Holdings Ltd (ASX: REX)’s revelation 12 hours earlier. In this release, Rex announced that it was withdrawing from 5 routes that it previously held a monopoly on.

Ever since Rex announced its intentions to compete in the golden Sydney-Melbourne-Brisbane triangle this year, Qantas started flying to regional airports. Previously, these were Rex’s sole domain.

Rex complained to the Australian Competition and Consumer Commission (ACCC) in December, claiming Qantas was indulging in anti-competitive practices.

The smaller airline stated then that the regional routes that Qantas was stamping in to did not have sufficient demand for 2 carriers.

It accused Qantas of “choosing to incur huge losses” on rural routes to “destroy incumbent regional operators”.

On Monday, the cash-bleed became too much to bear. Consequently, Rex announced it would stop flying the following routes, leaving Qantas as the sole provider:

• Sydney-Bathurst
• Sydney-Cooma
• Sydney-Lismore
• Sydney-Grafton
• Adelaide-Kangaroo Island

Rex’s share price was down 2.65% on Tuesday, to close at $1.66. It was $1.13 one year ago, just before the coronavirus market crash. 

Another reason why Qantas share price might be spiking

Revenues for the entire aviation industry obviously depends on people being willing to travel again.

Therefore, the rollout of the COVID-19 vaccines in Australia this week could be providing confidence to stock investors that Thursday’s outlook could be very positive.

Earlier this month, The Motley Fool reported that Goldman Sachs had put a $7.05 price target on Qantas. This compares to $5.03 even after Tuesday’s 4.36% jump.

Other ASX-listed companies involved in the travel sector also climbed Tuesday. Corporate Travel Management Ltd (ASX: CTD) was up a whopping 9.82% and Webjet Limited (ASX: WEB) gained 2.79%.

More reading

• ASX 200 flat: SEEK CEO exits, Afterpay sold off, BOQ surges higher
• Can ASX travel shares stage a comeback?
• These are the 10 most shorted shares on the ASX
• Brokers name 3 ASX shares to buy right now
• ASX 200 dips, EML soars after reporting, Appen sinks

Motley Fool contributor Tony Yoo owns shares of Corporate Travel Management Limited, Qantas Airways Limited, and Webjet Ltd. The Motley Fool Australia owns shares of and has recommended Corporate Travel Management Limited and Webjet Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Why did Qantas (ASX:QAN) share price soar 4% on Tuesday? appeared first on The Motley Fool Australia.

from The Motley Fool Australia https://ift.tt/37F4Nka

One of the worst performers on the Australian share market on Tuesday was the Apollo Tourism & Leisure Ltd (ASX: ATL) share price.

The shares of the vertically integrated manufacturer, rental fleet operator, wholesaler and retailer of recreational vehicles (RVs) sank 18% to 30 cents.

This means the Apollo Tourism & Leisure share price has now wiped out all its 2021 gains.

Why did the Apollo Tourism & Leisure share price sink lower?

Investors were heading to the exits in their droves on Tuesday following the release of a disappointing half year result.

According to the release, for the six months ended 31 December, the company reported an 18.8% decline in revenue to $160.2 million.

Management advised that COVID-19 materially impacted its rental operations during the half, with Government-imposed lockdowns and travel restrictions occurring in each region.

Furthermore, although the company’s focus on domestic markets has resulted in a notable increase in domestic guest revenue, ongoing lockdowns and snap border closures continue to disrupt domestic consumer confidence.

In respect to earnings, Apollo Tourism & Leisure reported a loss before interest and tax of $4.9 million and a net loss after tax of $7.5 million. This compares to $24.9 million and $11.3 million, respectively, a year earlier.

Management commentary

Apollo’s CEO and Managing Director, Luke Trouchet, commented: “The global tourism industry continues to be impacted by COVID-19 and its associated government-imposed travel restrictions. While we have seen some recovery through increased domestic activity, the ongoing closure of international borders and snap lockdown or border closure decisions domestically, have created a challenging landscape for the business.”

Nevertheless, Mr Trouchet appears cautiously optimistic on the future.

He explained: “However, we recognise that while the timing of the journey to recovery may be uncertain, the global vaccine roll-out and gradual decline in global COVID-19 cases is extremely positive. We have continued to implement our COVID-response plan initiatives, including reducing our operating cost base and investing in technology to adapt to the ever-changing environment in which we operate. I believe Apollo is in a strong position to thrive when tourism activity recovers.”

Unsurprisingly, due to the ongoing uncertainty of the current trading environment, Apollo was not in a position to provide earnings guidance for FY 2021.

More reading

• Why the Adriatic Metals (ASX:ADT) share price lifted 8% today
• Why the Rumble Resources (ASX:RTR) share price fell today
• Leading brokers name 3 ASX shares to sell today
• Facebook ban on Australian news ends
• TechnologyOne (ASX:TNE) share price rises on promising AGM update

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Why the Apollo Tourism & Leisure (ASX:ATL) share price crashed 18% lower today appeared first on The Motley Fool Australia.

from The Motley Fool Australia https://ift.tt/3pLxvGn

Adriatic Metals plc (ASX: ADT) shares lifted during today’s session following the company’s update on its RAS Metals acquisition. By the market’s close, the Adriatic Metals share price was up 8.26% to $2.36.

Let’s take a closer look and see what the precious and base metals miner announced.

Completion of RAS Metals takeover

The Adriatic Metals share price was firmly in positive territory as investors digested the company’s latest news.

According to its release, Adriatic Metals has completed the acquisition of the entire issued share capital of RAS Metals. This agreement was executed by Tethyan Resource Corp, a wholly-owned subsidiary of Adriatic Metals.

Under the deal, the remaining 90% of RAS Metals shares were picked up for a total cash consideration of 1.365 million euros. In addition, 166,000 ordinary shares from Adriatic Metals will be issued to the vendors of RAS Metals.

Adriatic Metals will also take up a deferred option that will see another 500,000 euros paid on 14 May 2022. A further 498,000 ordinary shares listed from the London Stock Exchange will also be handed to RAS Metals. This will be allotted in three separate but equal tranches over the current year and 2022.

The company stated that an application has been lodged to the Financial Conduct Authority and the London Stock Exchange for the shares to be admitted.

In addition to the announcement, Adriatic Metals went on to discuss its drilling program. It said that through its subsidiary, Tethyan, it has completed 11,000 meters of diamond core (DC) drilling on the Raska exploration licences. A further 25,000 meters of DC drilling is planned across the Raska Project this year.

What did management say?

Adriatic Managing Director and CEO Paul Cronin commented on the takeover:

From the work done following the completion of the Tethyan acquisition, exercising the option to acquire the remaining 90% of RAS Metals was a simple decision to make. We see significant exploration potential across the Raska Project and consolidating the region makes it easier to implement our strategy for Raska.

About the Adriatic Metals share price

The Adriatic share price has been a relatively solid performed over the past 12 months, rising by more than 40%. Adriatic shares have gradually increased since hitting a 52-week low of 78 cents in March 2020.

Based on the current share price, Adriatic Metals has a market capitalisation of roughly $394 million.

More reading

• What’s with the Adriatic (ASX:ADT) share price today?
• Why ASX silver shares like Silver Mines (ASX:SVL) are falling today
• Why these ASX silver shares are surging today
• Silver squeeze next on the list for WallStreetBets, or is it?

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Why the Adriatic Metals (ASX:ADT) share price lifted 8% today appeared first on The Motley Fool Australia.

from The Motley Fool Australia https://ift.tt/3qMakNn

The Rumble Resources Ltd (ASX: RTR) share price collapsed today as the company announced a drill expansion. Shares in the company are currently dropping 4.76% lower to a price of 10 cents.

The company is an Australian based mineral explorer that is focusing on gold, silver, and copper.

What Happened

Following today’s announcement of drilling results from its Munarra Gully project in Cue, Western Australia, the Rumble Resources share price is falling.

The results came from the most recent round of reconnaissance drilling, comprised of 20 drill holes. It was designed to extend the amount of mineralisation along the northern edge of the company’s mine. Rumble Resources tested a very broad area in order to maximise its findings.

The company found multiple gold intersections across a 200m wide zone that included:

• 8m @ 1.06 g/t Au from 80m
• 4m @ 4.02 g/t Au from 112m
• 8m @ 0.7 g/t Au from 64m
• 4m @ 3.39 g/t Au from 119m

It is worth noting that over 15km of the Amaryllis shear zone remains untested.

Moreover, in regards to the company’s copper exploits the drilling returned some positive results. Copper was found within 109 metres of the surface at strong mineralisation.

Management also outlined the promising nature of the finds and their close characteristics with a known large scale gold/copper mine. As such, the report states:

The style of mineralisation has very similar characteristics to known large scale Chibougamau Au-Cu shear vein type deposits located in the eastern part of the Archaean Abitibi Greenstone Belt in Quebec, Canada.

Rumble has now advanced the geological model to aid in predicting potential deposits along the Amaryllis Shear Zone.

About the Rumble Resources share price

More reading

• Why the Adriatic Metals (ASX:ADT) share price lifted 8% today
• Leading brokers name 3 ASX shares to sell today
• Facebook ban on Australian news ends
• TechnologyOne (ASX:TNE) share price rises on promising AGM update
• The Mercury NZ (ASX:MCY) share price zaps up. Here’s why

Motley Fool contributor Daniel Ewing has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Why the Rumble Resources (ASX:RTR) share price fell today appeared first on The Motley Fool Australia.

from The Motley Fool Australia https://ift.tt/2P5KhCP

On Monday I looked at three ASX shares that brokers have given buy ratings to this week.

Unfortunately, not all shares are in favour with them right now. Three that have just been given sell ratings are listed below. Here’s why these brokers are bearish on these ASX shares:

Cochlear Limited (ASX: COH)

Analysts at Goldman Sachs have retained their sell rating but lifted their price target on this hearing solutions company’s shares to $189.00. According to the note, the broker was pleased with its half year results but doesn’t see value in its shares at this level. It estimates that Cochlear will grow its earnings by a compound annual growth rate of 8% between FY 2022 and FY 2025. Goldman doesn’t believe this level of growth supports the multiples its shares currently trade on. The Cochlear share price is fetching $217.36 today.

Syrah Resources Ltd (ASX: SYR)

According to a note out of Morgan Stanley, its analysts have retained their underweight rating and 60 cents price target on this graphite producer’s shares. This follows an announcement that Syrah plans to restart its Balama operation and have it operational within the next two to three months. This is broadly in line with what Morgan Stanley had been expecting. Therefore, no changes have been made to its recommendation. The Syrah share price is trading notably higher than this price target at $1.23.

WiseTech Global Ltd (ASX: WTC)

Analysts at Citi have retained their sell rating and $27.70 price target on this logistic solutions company’s shares ahead of its half year results. While the broker believes WiseTech Global is on track to achieve its full year guidance, it has concerns over its valuation. It feels that the market isn’t taking into account integration risks relating to its numerous acquisitions. Citi fears that they could take longer to integrate or not deliver the expected returns. The WiseTech Global share price is fetching $29.55 today.

More reading

• Is the Cochlear (ASX:COH) share price in the buy zone?
• Here’s why the Syrah (ASX:SYR) share price is rocketing 15% today
• Why broker downgraded these 2 ASX 200 shares last week
• 6 high profile ASX 200 shares reporting results this week 
• ASX 200 sinks 1.3%, Cochlear soars, TWE sours

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Cochlear Ltd. The Motley Fool Australia owns shares of WiseTech Global. The Motley Fool Australia has recommended Cochlear Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Leading brokers name 3 ASX shares to sell today appeared first on The Motley Fool Australia.

from The Motley Fool Australia https://ift.tt/3dEZPYq

Facebook Inc (NASDAQ: FB) will reverse its days-long ban on Australian users viewing and sharing news content.

“The government has been advised by Facebook that it intends to restore Australian news pages in the coming days,” said federal treasurer Josh Frydenberg and communications minister Paul Fletcher in a joint statement on Tuesday afternoon.

The social media giant last Thursday blocked all Australians from viewing and sharing news articles, and prohibited Australian media companies from making new posts.

The unprecedented move was in retaliation to Australia’s world-first News Media Bargaining Code. That new law attempts to force digital platforms like Facebook and Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL)’s Google to pay publishers for content.

But after days of negotiations, it seems the government has made some amendments to the proposed law that’s appeased Facebook.

Facebook confirmed that news would return to Australia in “the coming days”.

“We have come to an agreement that will allow us to support the publishers we choose to, including small and local publishers,” said Facebook Global News Partnerships vice president Campbell Brown.

“Going forward, the government has clarified we will retain the ability to decide if news appears on Facebook so that we won’t automatically be subject to a forced negotiation.”

What was changed in the media code?

The ministers stated that the latest changes would “provide further clarity to digital platforms and news media businesses about the way the code is intended to operate”.

The introduction of a 2-month negotiation period for media companies and digital platforms to work out a revenue-sharing agreement is one of the changes made to the code. Once that period expires, a compulsory arbitration will take place.

Facebook also won a 1-month notice period for the government to designate a digital platform as a participant of the code.

And designation will also take into account if that platform has already made deals with Australian news publishers.

Google, after threatening to also pull its services out of Australia, has now struck deals with publishers News Corporation (ASX: NWS) and Nine Entertainment Co Holdings Ltd (ASX: NEC).

It’s not clear yet whether Facebook will now resume plans for an Australian version of its Facebook News module.

“The amendments will strengthen the hand of regional and small publishers in obtaining appropriate remuneration for the use of their content by the digital platforms,” stated the ministers.

When announcing the news blackout last week, Facebook had claimed the Australian Government was insensitive to how it operates.

“The proposed law fundamentally misunderstands the relationship between our platform and publishers who use it to share news content,” said Facebook ANZ managing director William Easton.

“Google Search is inextricably intertwined with news and publishers do not voluntarily provide their content. On the other hand, publishers willingly choose to post news on Facebook, as it allows them to sell more subscriptions, grow their audiences and increase advertising revenue.”

More reading

• Microsoft’s partnership with European news publishers threatens Facebook and Alphabet
• 2 interesting ASX shares rated as strong buys by brokers
• Facebook vs Australia feud escalates as government pulls ads
• Facebook news ban to devastate ASX: expert
• What ‘Facebook vs. The Rest’ means for you

Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to its CEO, Mark Zuckerberg, is a member of The Motley Fool’s board of directors. Tony Yoo owns shares of Alphabet (A shares). The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Alphabet (A shares), Alphabet (C shares), and Facebook. The Motley Fool Australia has recommended Alphabet (A shares), Alphabet (C shares), and Facebook. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Facebook ban on Australian news ends appeared first on The Motley Fool Australia.

from The Motley Fool Australia https://ift.tt/2P4msva

The TechnologyOne Ltd (ASX: TNE) share price has gone up after investors heard the annual general meeting (AGM) update.

TechnologyOne is an enterprise software provider for many businesses around the world.

FY20 results recap

TechnolgyOne reminded investors that in FY20 it generated underlying net profit before tax growth of 13%, which represented the 11th consecutive year of record profit. It boasted that it continues to double in size every five years.

The company said that its software as a service (SaaS) continues to drive growth and the outlook for FY21 is strong. It said that its SaaS annual recurring revenue (ARR) is growing at 32% per annum. SaaS ARR went up to $135 million in FY20.

It grew its dividend by 8% to 12.88 cents per share in FY20.

Growth prospects

TechnologyOne talked up the value proposition of its enterprise SaaS. Some of the benefits include “massive” economies of scale, defence-in-depth security, always being on the latest technology, always being on the latest release and customers apparently save more than 30% on their total cost.

Today, 86% of the revenue is recurring subscription revenue and it has a very low churn rate of less than 1%. The company is expecting ARR to increase to more than $500 million by FY26.

The company is expecting its underlying profit before tax margin to improve to 35% in the next few years. In FY20 it was 29%. Management said that margins are driven by the significant economies of scale from its single global SaaS solution. It is continuing to be disciplined with its expenses. It’s rebalancing its investment and headcount to growth areas. It’s going to continue its COVID-19-inspired remote implementations and digital user groups.

It also said that cashflow generation is expected to grow strongly. In FY20 its cashflow generation grew by 49% to $66.4 million.

TechnologyOne also pointed out that its consulting profit is rising significantly. Its profit margin improved to 22% in 2020, up from 8% in 2017.

Outlook for FY21

The company said that the enterprise software market continues to be resilient, with key markets remaining strong such as global government, higher education, government and government related businesses.

It said that SaaS is creating significant opportunities and that the 2021 pipeline is strong.

Management expect continuing strong growth in SaaS ARR and profit in the year. It’s expecting to double in size again in the next five years.

The company outlined that the sales pipeline is weighted to the second half, like previous years. However, the difference between the first half and second half will not be as great as prior years because of the size of its SaaS business’ recurring revenue base.

Broker thoughts

TechnologyOne is liked by the broker UBS, which thinks that the SaaS growth is attractive, including the momentum in the UK and success in the local government business.

UBS thinks that the TechnologyOne share price looks good value compared to others in the sector. The broker has a share price target for TechnologyOne of $9.15.

More reading

• TechnologyOne (ASX:TNE) share price climbs higher despite first strike
• Brokers name 3 ASX shares to buy right now

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post TechnologyOne (ASX:TNE) share price rises on promising AGM update appeared first on The Motley Fool Australia.

from The Motley Fool Australia https://ift.tt/3kesKDS

The Mercury NZ Ltd (ASX: MCY) share price was slumping throughout today after the company reported its half-year results this morning.

However, in a last-minute flash before closing, the Mercury share price zapped up from $5.73 to find positive territory at $5.99.

Mercury NZ is one of the largest electricity generators and suppliers in New Zealand.

What financial results did Mercury report?

This morning’s ASX release failed to lift the Mercury share price, despite showing a big increase in earnings and profits for the half-year ending 31 December 2020 (H1 FY21).

Mercury reported a 14% increase in earnings before interest, tax, depreciation, amortisation, change in the fair value of financial instruments, and gain on sale and impairments (EBITDAF). This increased by $36 million from the first half of FY20 to reach $294 million in H1 FY21.

Underlying earnings after tax of $115 million was up 28% over the prior corresponding period.

The company credited a higher energy margin associated with generation and customer portfolio decisions, along with additional trading profits and cost control for much of the revenue lift.

Mercury noted that drier weather had negatively impacted its hydropower generation during the half year, with 108 GWh lower overall generation. Overall electricity generation dropped 3%.

Operational expenditure decreased by $7 million year-on-year to $87 million.

Mercury will pay an interim dividend of 6.8 cents per share (cps), fully franked, up 6% from H1 FY20. The dividend will be paid on 1 April.

Words from the management

Commenting on the results, Mercury NZ CEO Vince Hawksworth said:

Guiding our evolution is our desire to balance the internationally recognised energy trilemma of ensuring that we achieve our sustainability goals, keep the lights on for New Zealanders and do this all at the least-cost for consumers.

Mercury wants to take advantage of renewable energy opportunities presented by the New Zealand Climate Change Commission’s draft report.

Hawksworth said:

Mercury is looking forward to supporting swift action from the government to respond to the findings… It is pleasing to see strong support for transport electrification, with the government already committed to an emissions standard and considering other incentives to support a faster transition.

Looking ahead, Mercury downgraded its full 2021 financial year EBITDAF guidance from $535 million to $520 million.

The company expects dry weather to continue to impact hydro generation over the coming months and said ASX electricity futures indicated wholesale prices were likely to remain high for the rest of FY21.

Mercury share price snapshot

The Mercury share price has been a solid performer over the past 12 months, up 11%. That compares to a 2% loss on the S&P/ASX 200 Index (ASX: XJO).

With today’s intraday gain factored in, year-to-date, the Mercury share price is down 5.8% so far in 2021.

More reading

• Why the Austal (ASX:ASB) share price got torpedoed today
• Why the Alumina (ASX:AWC) share price is dropping today
• ASX 200 flat: SEEK CEO exits, Afterpay sold off, BOQ surges higher
• 5 things to watch on the ASX 200 on Tuesday
• ASX 200 drops 0.2%, Costa soars, BOQ is buying ME Bank

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post The Mercury NZ (ASX:MCY) share price zaps up. Here’s why appeared first on The Motley Fool Australia.

from The Motley Fool Australia https://ift.tt/3unJEVo

The TechnologyOne Ltd (ASX: TNE) share price is pushing higher on Tuesday following the release of its annual general meeting update.

In afternoon trade the enterprise software company’s shares are up 1.5% to $8.32.

This makes the company one of the only tech shares to be in positive territory today. At the time of writing, the S&P/ASX All Technology Index (ASX: XTX) is down a disappointing 3.7%.

Why is the TechnologyOne share price rising?

Investors have been bidding the TechnologyOne share price higher today after it reaffirmed its guidance at its virtual annual general meeting.

In his presentation, the company’s CEO, Edward Chung, advised that he expects to see continuing strong growth in Software-as-a-Service (SaaS) annualised recurring revenue (ARR) and profits in FY 2021.

He notes that its momentum remains the same, and the company continues to double in size once again in the next five years.

However, as investors will have seen in previous years, TechnologyOne’s sales pipeline is weighted to the second half. In light of this, the company has warned that the first half of FY 2021 will not be indicative of its full year results.

Remuneration report receives a first strike

Going into the annual general meeting, CGI Glass Lewis and Ownership Matter had recommended that shareholders vote against the company’s remuneration report.

They made this recommendation because the TechnologyOne Board exercised discretion by granting long term incentives (LTIs) to employees even though targets were not achieved.

Approximately 38.27% of shareholders followed this advice and voted against it, giving TechnologyOne a first strike. Another strike next year will lead to a board spill.

Chairman strikes back

This didn’t go down well with the company’s Founder and Chairman, Adrian Di Marco, who believed that its executives shouldn’t have been judged against pre-COVID targets and deserved to be granted their LTIs.

Mr Di Marco explained:  

“TechnologyOne executive team performed exceptionally well in FY20 to deliver another year of record revenue, record profit, record SaaS growth and record dividend, all in the midst of a global pandemic. Also, no one can dispute that our Remuneration is working exceptionally well for our shareholders as TSR increased by 12.1%, while total remuneration for executives, after board discretion, was well below TSR.”

“Unfortunately, some large Institutional Funds voted AGAINST our remuneration ignoring the facts above and the real-world considerations faced by our Board because they are against the use of Board discretion as a matter of policy.”

“The Board is very aware of the need to retain and motivate its high performing executives.The Board believes our executives should be rewarded for the strong performance delivered during a global pandemic; as well as the very successful change in strategy to drive SaaS ARR growth, without any loss of their LTI award because of unrealistic and aggressive targets that were set prior to COVID19 or set before we changed our strategy to drive SaaS growth.”

More reading

• Brokers name 3 ASX shares to buy right now

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post TechnologyOne (ASX:TNE) share price climbs higher despite first strike appeared first on The Motley Fool Australia.

from The Motley Fool Australia https://ift.tt/3dEMQpM

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

For all its design innovation, Apple (NASDAQ: AAPL) is not particularly known for being in the vanguard of communications standards, lagging the Samsung S10 5G phone by 18 months before introducing its own model, the iPhone 12.

So it may be a surprise that although 5G is really just coming into its own, Apple is already looking to the future advent of 6G networks. According to a report last week by Bloomberg, the tech giant is hiring research engineers to work on the sixth generation of wireless technology.

The latest generation of wireless network connectivity first got notice after AT&T began updating certain Android phones with a 5G E icon to denote that customers were in areas with enhanced capabilities.

Other carriers didn’t take kindly to the messaging because the service was still operating on 4G, and Sprint ended up suing because of it. T-Mobile, which acquired Sprint, launched the first stand-alone 5G network last year that wasn’t based on 4G LTE technology.

Samsung’s Galaxy S10 was released first in Korea before eventually making its way to the U.S. And though some analysts had doubts Apple’s iPhone 12 would be a hit with consumers, the iPhone 12 Pro Max has become the most popular 5G smartphone in the U.S.

Now Bloomberg says Apple is getting ready for the next transition, and though 6G isn’t expected to roll out until 2030 or later, the tech company is looking for people to design next-generation wireless communication systems and participate in forums about 6G technology.

As Apple becomes more vertically integrated, including the design of its own computer chips, it may no longer be happy with letting others blaze the trail with new technology.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

More reading

• Microsoft’s partnership with European news publishers threatens Facebook and Alphabet
• Fortnite maker Epic Games files antitrust lawsuit against Apple in the EU
• TSMC could soon make Apple’s AR dreams a reality
• Why investors should look beyond the ASX 200 to US share markets
• Nasdaq at record high! Here’s what it means for the ASX 200

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Apple. The Motley Fool Australia has recommended Apple. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Rich Duprey owns shares of AT&T. The Motley Fool owns shares of and recommends Apple. The Motley Fool recommends T-Mobile US. The Motley Fool has a disclosure policy.

The post 5G is barely here, but Apple is already planning for 6G appeared first on The Motley Fool Australia.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

from The Motley Fool Australia https://ift.tt/3aK9riQ