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TSLA   545.45 (+5.66%)
AMD   47.56 (+0.08%)
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PRI   88.06 (+1.11%)
S&P 500   2,659.41 (-0.16%)
DOW   22,653.86 (-0.12%)
QQQ   196.40 (-0.04%)
AAPL   259.43 (-1.16%)
FB   168.83 (+1.98%)
MSFT   163.49 (-1.08%)
GOOGL   1,182.56 (-0.05%)
AMZN   2,011.60 (+0.70%)
CGC   14.50 (+1.12%)
NVDA   259.03 (-3.49%)
BABA   198.00 (+0.79%)
MU   46.54 (+0.37%)
GE   7.03 (-2.77%)
TSLA   545.45 (+5.66%)
AMD   47.56 (+0.08%)
T   30.08 (+2.17%)
ACB   0.80 (+0.00%)
F   4.71 (+3.97%)
NFLX   372.28 (-2.02%)
BAC   22.14 (+3.51%)
GILD   74.67 (-3.94%)
DIS   101.24 (+1.67%)
PRI   88.06 (+1.11%)
S&P 500   2,659.41 (-0.16%)
DOW   22,653.86 (-0.12%)
QQQ   196.40 (-0.04%)
AAPL   259.43 (-1.16%)
FB   168.83 (+1.98%)
MSFT   163.49 (-1.08%)
GOOGL   1,182.56 (-0.05%)
AMZN   2,011.60 (+0.70%)
CGC   14.50 (+1.12%)
NVDA   259.03 (-3.49%)
BABA   198.00 (+0.79%)
MU   46.54 (+0.37%)
GE   7.03 (-2.77%)
TSLA   545.45 (+5.66%)
AMD   47.56 (+0.08%)
T   30.08 (+2.17%)
ACB   0.80 (+0.00%)
F   4.71 (+3.97%)
NFLX   372.28 (-2.02%)
BAC   22.14 (+3.51%)
GILD   74.67 (-3.94%)
DIS   101.24 (+1.67%)
PRI   88.06 (+1.11%)
S&P 500   2,659.41 (-0.16%)
DOW   22,653.86 (-0.12%)
QQQ   196.40 (-0.04%)
AAPL   259.43 (-1.16%)
FB   168.83 (+1.98%)
MSFT   163.49 (-1.08%)
GOOGL   1,182.56 (-0.05%)
AMZN   2,011.60 (+0.70%)
CGC   14.50 (+1.12%)
NVDA   259.03 (-3.49%)
BABA   198.00 (+0.79%)
MU   46.54 (+0.37%)
GE   7.03 (-2.77%)
TSLA   545.45 (+5.66%)
AMD   47.56 (+0.08%)
T   30.08 (+2.17%)
ACB   0.80 (+0.00%)
F   4.71 (+3.97%)
NFLX   372.28 (-2.02%)
BAC   22.14 (+3.51%)
GILD   74.67 (-3.94%)
DIS   101.24 (+1.67%)
PRI   88.06 (+1.11%)
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Cracked iPhone screen? You'll have more places to fix it

Posted on Thursday, August 29th, 2019 By Michael Liedtke, AP Technology Writer

Apple iPhone
This Aug. 26, 2015 photo shows an Apple iPhone with a cracked screen after a drop test from the DropBot, a robot used to measure the sustainability of a phone to dropping, at the offices of SquareTrade in San Francisco. Apple said Thursday, Aug. 29, 2019, that it will sell tools and parts to independent phone-repair shops in the U.S. and later in other countries. The repair shops need to have an Apple-certified technician. Repairs at these shops, though, will be limited to products already out of warranty. (AP Photo/Ben Margot, File)

SAN FRANCISCO (AP) — Apple is loosening its grip on how its products are repaired to give customers more options for fixing cracked screens and other defects on their older iPhones.

Under the new policy announced Thursday, Apple will begin selling its tools and parts to more independent phone-repair shops in the U.S. Apple will expand that to other countries later. Repairs at these shops, though, will be limited to iPhones already out of warranty.

IPhones still under warranty must still be taken to an Apple store or one of more than 5,000 service providers that the company already has authorized worldwide. That includes all Best Buy stores in the U.S. Those who have other devices, such as the Apple Watch and Mac computer, or an iPhone requiring more complicated repairs will also have to go there.

Although many unofficial repair shops have been offering basic fixes such as screen replacements, they aren't necessarily using Apple parts or qualified technicians. Now, thousands more shops will be able to buy parts directly from Apple, as long as they have a company-certified technician to make those repairs.

The change represents a significant concession from Apple, which is known for trying to control everything, including the repair experience.

Consumer groups and some state lawmakers have been pressuring Apple to give people more viable choices to seek repairs, as smartphones have become as conspicuous in daily life as cars — a product that typically can be taken to an independent mechanic instead of a dealership.

Apple is pivoting just as antitrust regulators in the U.S. are examining whether it and other powerful technology companies such as Google, Amazon and Facebook have been stifling competition.

"The last thing that Apple wants now is to be doing anything that might cast it in a negative light in Washington," industry analyst Patrick Moorhead of Moor Insights said.

Apple might lose some revenue if consumers turn to shops that charge slightly lower prices for labor.

In addition, easier repairs might prompt customers to hold onto their iPhones for even longer periods, a phenomenon that has already contributed to a slowdown in phone sales. And others may be more reluctant to pay extra for a repair program, Apple Care, which has been helping the company boost revenue in its rapidly growing services business.

But Moorhead doubts Apple will be affected that badly, as he predicted Apple Care sales won't fall more than 15%. Apple Care is just a small part of a services business that includes app commissions and music subscriptions.

Investors didn't appear to be concerned either, as Apple's stock gained nearly 2% Thursday to close at $209.01.

___

AP Technology Writer Tali Arbel in New York contributed to this story.

Companies Mentioned in This Article

CompanyCurrent PricePrice ChangeDividend YieldP/E RatioConsensus RatingConsensus Price Target
Apple (AAPL)$259.43-1.2%1.19%20.49Buy$297.83

8 Pharmaceutical Companies Working on a Coronavirus Cure

We are living through interesting times. Not an hour goes by when Americans don’t receive some reminder of the impact the coronavirus has on our lives. The race is on for an effective, FDA-approved treatment for the virus. Despite, vaccines being available for human trial in record time, we are many months away from having a viable vaccine.

However, we may be somewhat closer in finding some antiviral treatments. And if you’ve watched the market closely this week, any news on that front tends to move the market in a positive direction.

That brings up another truth of investing. There are some stocks that thrive from other stocks misery. And that’s why we’ve put together this special report. If you’re an investor who is looking to jump into this bear market, the pharmaceutical sector is a logical choice.

A combination of big-name drug companies as well as smaller startup companies are working around the clock to develop vaccines or treatments that will target the infection caused by the novel coronavirus.

View the "8 Pharmaceutical Companies Working on a Coronavirus Cure".

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