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Apple’s new iPhones, watches are coming at a tough time for consumers

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2 years ago

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  • Apple expected to unveil new range of iPhone 14 models, Watches.
  • “Apple is not immune to economic weakness,” says analyst.
  • Fan base has shown willingness to keep spending despite high inflation.

Apple on Wednesday is expected to unveil a new range of iPhone 14 models and Apple Watches that will test how willing consumers are to upgrade gadgets in the face of inflation and economic gloom.

Analysts expect Apple to announce that the latest iPhones can send emergency messages using satellites at the event titled “Far Out” at its Cupertino, California, headquarters. Beyond that, analysts expect a family of iPhone 14 models with incremental upgrades — slightly better cameras, processor chips and, critically for Apple’s bottom line, prices $100 or higher than last year’s models. 

To be sure, the world’s most valuable listed company will also likely keep some older or less advanced models at lower prices, and to date, Apple’s relatively affluent fan base has shown more willingness to keep spending despite high inflation. But the new models will be Apple’s sales anchor during holiday shopping seasons in Western markets during a turbulent period. “Apple is not immune to economic weakness,” Bernstein analyst Toni Sacconaghi wrote in a note to clients.

This year’s iPhones may have the ability to send emergency messages through a satellite internet connection when WiFi and mobile networks are not available. The messaging functions would likely be rudimentary, and other companies are working on similar functions. SpaceX founder Elon Musk said last month T-Mobile will use its satellites to connect phones directly to the internet.

Bob O’Donnell of TECHnalysis Research said that the peace of mind from being able to send emergency messages could spur Apple users to upgrade their phones for the satellite feature.

“Even though it’s not something you do every day, it’ll change your perspective on what you do with your phone,” he said.

Analysts also expect Apple to show a new range of Apple Watches, including an upgraded budget model called the SE and a Series 8 Watch. They also expect a new high-end watch called the Apple Watch Pro that will likely include new features for athletes, taking aim at rivals such as Garmin Ltd.

But while accessories like the Apple Watch have driven incremental sales from Apple’s existing user base, the iPhone remains the bedrock of its business with 52.4% of sales in its most recent fiscal year. Investors have been watching for Apple’s next major product category since the Apple Watch launched in 2015.

Some analysts believe Apple might give a preview of that future by showing a mixed-reality headset on Wednesday. The device is expected to have cameras that pass-through view of the outside world to the wearer while overlaying digital objects on the physical world. Analysts do not expect the device to go on sale until next year at the earliest.

An early preview would be rare for Apple, which keeps its product plans secret until just before devices hit the market. A rival headset called Project Cambria is in the works from Meta Platforms, which is spending billions of dollars on the project.

But in order to have compelling apps for a new headset, Apple might need to give developers time to become familiar with it. “Developing for a new and radically different type of platform is going to take people a lot longer,” O’Donnell said.

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Bitcoin makes its first breach of $94,000.

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2 days ago

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As news broke that Donald Trump’s social media company was in negotiations to acquire cryptocurrency trading platform Bakkt (BKKT.N), Bitcoin surged to a record high above $94,000, adding to optimism that the next Trump administration would be cryptocurrency-friendly.

This year, Bitcoin, the largest and most well-known cryptocurrency in the world, has more than doubled in value. Just before the close of the previous session, it reached a record high of $94,078 before closing at $92,104 in Asian hours on Wednesday.

According to the Financial Times, which cited two persons with knowledge, NYSE-owner Intercontinental Exchange (ICE.N) is supporting Trump Media and Technology Group (DJT.O), opens new tab, which runs Truth Social, in its pursuit of an all-stock purchase of Bakkt.

In addition to traders taking advantage of the first day of options trading on the Nasdaq over BlackRock’s Bitcoin ETF (IBIT.O), Tony Sycamore, market analyst at IG, stated that the Trump deal chatter had helped push bitcoin to a record high.

As traders hoped that President-elect Trump’s pledged support for digital assets would result in a less stringent regulatory framework and give bitcoin a boost after a sluggish few months, cryptocurrencies have surged since the U.S. election on November 5.

According to data and analytics aggregator CoinGecko, the global cryptocurrency market is now worth over $3 trillion, a new high, due to the growing excitement.

Australian online broker Pepperstone’s head of research, Chris Weston, stated that there is genuine underlying purchasing pressure on bitcoin and that “another kick higher should bring in a fresh chase from those who like to buy what’s strong.”

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The PTA discloses how many VPNs are registered in Pakistan.

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3 days ago

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Speaking at the Senate Standing Committee on IT meeting in Islamabad, which was presided over by Palwasha Khan, was the PTA chief.

The continuous regulation of Virtual Private Networks (VPNs) in Pakistan was the main topic of discussion. The committee called for the next meeting and voiced concerns about the Minister of State for IT’s absence for the third consecutive session.

“We have spent the last two years developing VPN legislation. Uninterrupted internet connection is guaranteed by registered VPNs without sacrificing privacy, according to the PTA chairman.

During the session, Senator Muhammad Humayun criticized the measures, saying, “Shutting down platforms like X (formerly Twitter) is jeopardizing the entire IT industry and impacting the livelihoods of over 2.5 million individuals in Pakistan.”

He opposed laws that would hurt independent contractors and small companies.

Although the PTA promised that registered VPNs would not experience internet outages, committee members wanted to know the exact legal foundation for these regulations. Senator Kamran Murtaza asked for documents that detailed the requirements for registration.

“If VPN services are abruptly halted, there will be a major backlash,” Senator Afnan Ullah said. While pointing out that Pakistan’s IT exports had increased by 20% in the previous year, he emphasised that the sector was still lagging behind India.

Concerns over the viability of the existing VPN whitelist method were voiced by the committee. While IT officials admitted that more than 1 million freelancers in Pakistan rely significantly on VPNs for their business, Senator Humayun pointed out that the laws should be more beneficial than harmful.

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Pakistan declares AI chatbots to be dangers to security.

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7 days ago

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The National Computer Emergency Response Team (CERT) has released a security advisory concerning the increasing utilization of artificial intelligence (AI) chatbots, emphasizing potential hazards related to the exposing of private data.

The recommendation recognizes that AI chatbots, like ChatGPT, have gained significant popularity for personal and professional duties owing to their capacity to improve productivity and engagement. Nonetheless, the CERT cautions that these AI systems frequently retain sensitive information, so posing a danger of data breaches.

Engagements with AI chatbots may encompass sensitive information, such as corporate strategy, personal dialogues, or confidential correspondence, which could be compromised if inadequately safeguarded. The warning emphasizes the necessity for a comprehensive cybersecurity framework to alleviate concerns associated with AI chatbot utilization.

Users are advised against inputting critical information into AI chatbots and are encouraged to deactivate any chat-saving functionalities to mitigate the danger of unwanted data access. The CERT additionally advises performing routine system security checks and employing monitoring tools to identify any anomalous behavior from AI chatbots.

Organizations are urged to adopt rigorous security protocols to safeguard against possible data breaches resulting from AI-driven interactions.

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