Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Nasdaq  >  Apple    AAPL

Mes dernières consult.
Most popular
News SummaryMost relevantAll newsofficial PublicationsSector newsTweets

Apple, Facebook find something to praise China for amid internet clamp

share with twitter share with LinkedIn share with facebook
share via e-mail
12/06/2017 | 03:41am CEST
A security guard sits on a chair before the opening ceremony of the fourth World Internet Conference in Wuzhen

WUZHEN, China (Reuters) - Top executives at Apple Inc and Facebook Inc managed to find something to praise Beijing for at an internet conference in China this week, even as its Communist Party rulers ban Western social media and stamp on online dissent.

China's World Internet Conference attracted the heads of Google and Apple for the first time to hear China vow to open up its internet - just as long as it can guard cyberspace in the same way it guards its borders.

The tacit endorsement of the event by top U.S. tech executives comes as China introduces strict new rules on censorship and data storage, causing headaches for foreign tech firms permitted to do business in China and signalling that restrictions banning others are unlikely to be lifted any time soon.

"I'd compliment the Chinese government in terms of leadership on using data," Facebook Vice President Vaughan Smith said on Tuesday, citing government bodies such as the Cyberspace Administration of China (CAC) and Ministry of Industry and Information Technology (MIIT).

"The Chinese government, the CAC and MIIT are doing a fabulous job on that."

Facebook and Google aren't accessible in China behind the country's Great Firewall, along with major Western news outlets and social media sites, while Apple is subject to strict censorship. The U.S firm removed dozens of popular messaging and virtual private network (VPN) apps from its China App Store this year to comply with government requests.

"The theme of this conference, developing a digital economy for openness and shared benefits, is a vision we at Apple share," Apple Chief Executive Tim Cook said on Sunday. The audience cheered him twice – once when he reached the podium, and again when he bowed.

His comments, however, drew criticism in the United States from Democratic Senator Patrick Leahy of Vermont, who has previously condemned Apple for removing VPN apps from its China App Store.

"Global leaders in innovation, like Apple, have both an opportunity and a moral obligation to promote free expression and other basic human rights in countries that routinely deny these rights," Leahy said in a statement to CNBC on Tuesday.

"It and other tech companies must continue to push back on Chinese suppression of free expression."


China cracks down on any sign of online criticism of the government which it sees as a threat to social stability and one-party rule.

Some embassies, business groups and foreign firms steer clear of the highly choreographed internet event, analysts say, because of the perceived propaganda.

But diplomacy seemed to rule the day at the conference, held in the ancient scenic city of Wuzhen in the eastern province of Zhejiang, and neither Smith nor Cook addressed issues of censorship or cyber regulation.

Cook has made frequent trips to China over the past year, as the firm has looked to revive sales in the market and make a push into services that require working with local partners on data storage.

"Companies that have sent high-level delegations to this conference in Wuzhen in the past have often done so because there is some type of significant issue with their access to the market," said an industry source familiar with the event who declined to be identified due to the sensitivity of the matter.

At the event itself, conference guests were treated to a bubble of uncensored internet in hotels, including access to Google, Facebook and foreign news outlets with specialised codes handed out to guests.

In discussions on topics such as artificial intelligence and tech innovation, overseas executives generally skirted the topic of regulation, though it surfaced at times.

"More people come to Facebook than are in China," said Facebook's Smith at a talk on digital economy on Tuesday. "(But) I realise not everyone in the room is familiar with Facebook."

Jack Ma, chairman of China's Alibaba Group Holding Ltd which owns Hong Kong's South China Morning Post, said that foreign tech firms wishing to enter the China market should abide by its laws.

"(Foreign companies) are determined to come. Follow the rules and laws and if you're unhappy, leave," said Ma. "This is not a market (where) you can come and go."

(Reporting by Cate Cadell; Editing by Nick Macfie and Sam Holmes)

By Cate Cadell

Stocks treated in this article : Apple, eBay, Facebook, Alphabet
Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET -0.05% 1213.3737 Delayed Quote.15.16%
APPLE -0.65% 190.28 Delayed Quote.13.13%
EBAY 0.46% 37.955 Delayed Quote.0.19%
FACEBOOK -0.08% 209.84 Delayed Quote.19.00%
share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on APPLE
05:39pALPHABET : After record Google fine, EU's Vestager says she likes the U.S.
05:03pAPPLE : Three Ways Walmart App Features Can Combat the Draw of Apple Pay at the ..
03:03pAPPLE : Meet the implant giving hearing loss patients access to their iPhone
02:54aBERKSHIRE HATHAWAY : Buffett's Berkshire Hathaway loosens policy on stock buybac..
01:48aWARREN BUFFETT : Buffett's Berkshire Hathaway loosens policy on stock buybacks
12:05aAPPLE : reveals upcoming emojis on World Emoji Day
07/17WORLD EMOJI DAY : Tech giants celebrate ‘heart’ most used expression
07/17AI Startup Volley.com Gets Strategic Investment From JPMorgan
07/17CVS HEALTH : Empirical Financial Services Cut Its Apple (AAPL) Stake by $6.26 Mi..
07/17APPLE : Celebrates World Emoji Day
More news
News from SeekingAlpha
06:40aTracking Ken Fisher's Fisher Asset Management Portfolio - Q2 2018 Update 
07/17CIRRUS LOGIC : Profiting From The Knowable In Unknowns 
07/16John's May Dividend Income Tracker - Retirement Accounts 
07/16DIVIDEND SENSEI'S PORTFOLIO UPDATE 4 : The 3 Essential Things All Investors Need.. 
Financials ($)
Sales 2018 261 B
EBIT 2018 69 304 M
Net income 2018 57 782 M
Finance 2018 135 B
Yield 2018 1,41%
P/E ratio 2018 16,66
P/E ratio 2019 14,48
EV / Sales 2018 3,09x
EV / Sales 2019 3,07x
Capitalization 941 B
Duration : Period :
Apple Technical Analysis Chart | AAPL | US0378331005 | 4-Traders
Technical analysis trends APPLE
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 40
Average target price 201 $
Spread / Average Target 5,1%
EPS Revisions
Timothy Donald Cook Chief Executive Officer & Director
Arthur D. Levinson Chairman
Jeffrey E. Williams Chief Operating Officer
Luca Maestri Chief Financial Officer, SVP & VP-Human Resources
Kevin M. Lynch Vice President-Technology
Sector and Competitors
1st jan.Capitalization (M$)
APPLE13.13%941 003
NOKIA OYJ27.63%32 570
MEITU INC--.--%3 434
INTOPS CO LTD--.--%140
DORO AB-4.46%114