We're still in very early stages of AI, says Deepwater's Gene Munster on tech resurgence
Gene Munster, Deepwater Asset Management, joins 'Closing Bell Overtime' to talk what's ahead for Apple and how to play the tech resurgence.
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CNET
26 minutes ago
- CNET
Apple's $96 Million Siri Settlement Closes In Days. Chances Are Good You Could Be Eligible
If you're eligible for a settlement payout from Apple, make sure you sign up by July 2. Viva Tung/CNET As useful as they -- sometimes -- can be, virtual assistants can often be just as annoying, especially if you've ever called one up by mistake. If you're an Apple user who's had that sort of issue with Siri in the last decade, I've got a settlement you should know about. Apple customers may be eligible for a payout from a $96 million class-action settlement if the Siri virtual assistant was accidentally activated during a private conversation. However, if you want your payout for this privacy invasion, you'll need to make sure you sign up soon. The deadline to file a claim now less than a week away, and after that you'll be out of luck. Apple agreed to the settlement after being sued for allegedly allowing Siri to listen in on private conversations without consent. Now, a claims website is live, and if you meet the criteria, you could get a piece of the payout. Whether you're a longtime iPhone user or just want to see if you're eligible, here's everything you need to know before the window closes. The settlement period covers a full decade and given the ubiquity of Apple products, there's a good chance you'll be eligible for a piece of the payout. If you meet the eligibility standards, you can claim a payment for up to five Siri-enabled devices, with a cap on how much you can receive per device. We'll get into the specific amount a little bit later. The impact of this settlement has the potential to be wide-ranging, given the reach of Apple's product ecosystem. According to a Business of Apps report from November, citing company and market research data, there were roughly 155 million active iPhones in the US as of 2024, a number that's been steadily increasing since the product's debut. Similarly, active Apple TV streaming boxes in the US have also been increasing year to year, with more than 32 million active in the US as of 2023. To find out if you're eligible for this settlement, read on. For more, find out what's up with the recent delay of T-Mobile data breach settlement checks. Who sued Apple and why? This class-action lawsuit, Lopez et al v. Apple Inc., was first brought against Apple in 2019, with plaintiffs alleging that they were routinely recorded by their Apple devices after unintentionally activating the Siri virtual assistant, violating their privacy in the process. They further alleged that these recordings were then sold to advertisers and used to target them with ads online. Specific incidents mentioned in the suit include plaintiffs seeing ads online for brands like Air Jordan and Olive Garden after Apple device users discussed them out loud. In some instances, plaintiffs claimed that their devices began listening to them without them having said anything at all. At least one plaintiff involved in the case was a minor when it was first filed. Though it agreed to the settlement, Apple hasn't admitted any wrongdoing. "Siri has been engineered to protect user privacy from the beginning," Apple said in a statement sent to CNET. "Siri data has never been used to build marketing profiles and it has never been sold to anyone for any purpose. Apple settled this case to avoid additional litigation so we can move forward from concerns about third-party grading that we already addressed in 2019. We use Siri data to improve Siri and we are constantly developing technologies to make Siri even more private." Who is eligible for this class-action settlement? The eligibility requirements for this settlement are fairly broad, as it's open to anyone who owned a Siri-enabled Apple device between Sept. 17, 2014, and Dec. 31, 2024. In order to opt in, you'll have to swear under oath that at some point during that period, you accidentally activated Siri on each device you want to get a payment for, and that these activations occurred during a conversation meant to be private. Siri-enabled devices include iPhones, iPads, Apple Watches, MacBooks, iMacs, Apple TV streaming boxes, HomePod speakers and iPod Touches. How can I opt in to this Apple settlement? As of Thursday, May 8, a website has been launched where Apple customers can claim a portion of the settlement, if they believe they qualify. If you're looking to submit a claim, you have until July 2, 2025, to do so. It's not clear at this time when payments will be disbursed to approved claimants but it will surely be sometime after Aug. 1, 2025, when a final approval hearing is scheduled. How much can I get from the class-action settlement? Payments per device are to be capped at $20, although depending on how many people opt in to the settlement, claimants could receive less than that. Each individual can only claim payments for up to five devices, meaning the maximum possible payment you could receive from the settlement is $100. For more on Apple, see why a majority of users don't care for Apple Intelligence and find out which iOS setting can stop apps from tracking you.
Associated Press
2 hours ago
- Associated Press
ROSEN, A TRUSTED AND LEADING LAW FIRM, Encourages Apple Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action
New York, New York--(Newsfile Corp. - June 27, 2025) - WHY: Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of securities of Apple Inc. (NASDAQ: AAPL) between June 10, 2024 and June 9, 2025, both dates inclusive (the 'Class Period'). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than August 19, 2025. SO WHAT: If you purchased Apple securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. WHAT TO DO NEXT: To join the Apple class action, go to or call Phillip Kim, Esq. at 866-767-3653 or email [email protected] for more information. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than August 19, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers. DETAILS OF THE CASE: According to the lawsuit, throughout the Class Period, defendants made false and misleading statements and/or failed to disclose that: (1) Apple misstated the time it would take to integrate the advanced AI-based Siri features into its devices; (2) accordingly, it was highly unlikely that these features would be available for the iPhone 16; (3) the lack of such advanced AI-based features would hurt iPhone 16 sales; (4) as a result, Apple's business and/or financial prospects were overstated; and (5) as a result, Apple's public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages. To join the Apple class action, go to or call Phillip Kim, Esq. at 866-767-3653 or email [email protected] for more information. No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff. Follow us for updates on LinkedIn: on Twitter: or on Facebook: Attorney Advertising. Prior results do not guarantee a similar outcome. ------------------------------- Contact Information: Laurence Rosen, Esq. Phillip Kim, Esq. The Rosen Law Firm, P.A. 275 Madison Avenue, 40th Floor New York, NY 10016 Tel: (212) 686-1060 Toll Free: (866) 767-3653 Fax: (212) 202-3827 [email protected] To view the source version of this press release, please visit
Yahoo
3 hours ago
- Yahoo
Looming Rate Cuts Suggest Winter is Coming for Berkshire Hathaway Stock (BRK.B)
Warren Buffett's Berkshire Hathaway (BRK.B) has amassed a $347.7 billion cash hoard, reaping substantial interest income amid high rates—but with rate cuts looming and the stock trading at elevated levels, that war chest could soon turn from asset to liability for investors seeking safety. TipRanks data shows BRK.B stock keeping pace with the S&P 500 (SPX) so far this year, rising approximately 8% despite macroeconomic risks flourishing in several key investment areas. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter However, exactly how much longer the fund can sustain its performance remains to be seen, given the Fed's looming actions. As a result, I'm apprehensive about Berkshire's ability to recycle its magic touch, and I'm therefore Neutral on BRK.B stock. Berkshire's cash mountain didn't appear overnight. Over the past few quarters, Buffett and his team have been net sellers of stocks, trimming significant holdings like Apple (AAPL), selling over 600 million shares last year alone, reducing its stake to $70 billion from $175 billion, and Bank of America (BAC), with sales exceeding 235 million shares. One of the key barometers — Berkshire's total equity value — remains steady and above $200 billion, according to Main Street Data. These sales, alongside continued cash flows from Berkshire's insurance, railroad, and energy businesses, pushed its cash reserves to a record $347.68 billion by Q1, with most of it parked in U.S. Treasury bills. This strategy has paid off handsomely, delivering risk-free returns at yields above 5% in a volatile market where uncertainty (from geopolitical tensions to economic slowdown fears) has kept investors jittery. Buffett's aptitude for capital preservation shines here, turning Berkshire into a safe haven, which explains why many investors have 'flown to safety' by buying BRK stock. The U.S. economy is currently managing a substantial national debt, which has reached approximately $36 trillion. If interest rates remain elevated, annual interest payments are projected to climb to around $1.14 trillion by 2028. In response, many analysts anticipate two to three interest rate cuts by the end of 2025, potentially reducing the federal funds rate from the current 4.75%–5% range to between 4.25% and 4.5%. For Berkshire Hathaway, a declining rate environment poses meaningful implications. Its substantial holdings in Treasury bills—totaling $286 billion—generated $14.5 billion in investment income in 2024, a 43% increase year-over-year, primarily due to elevated short-term interest rates. However, as rates decline, that income stream could face pressure. Additionally, Berkshire's insurance float, which relies on reinvesting premium income at favorable yields, may also deliver lower returns in a low-rate environment. While Berkshire's conservative approach remains a hallmark of its strategy, a shift toward looser monetary policy presents a structural challenge that could diminish the short-term benefits of its liquidity reserves. Interestingly, Buffett's hesitancy to dive into equities, even during significant market dips in recent quarters, raises questions about Berkshire's next move. With nearly $350 billion in cash, identifying investments that can move the needle for a trillion-dollar conglomerate is no small feat. Major acquisitions or stock buys need to be huge to generate meaningful returns, yet Buffett has passed on opportunities, wary of overpaying. If rate cuts spark a market rally, as they often do, Berkshire risks missing out, with its cash earning paltry returns while equities soar. Adding to the caution, Berkshire Hathaway currently trades at a price-to-book (P/B) ratio of 1.6—near its highest level in the past decade and above its historical median of 1.4—reflecting heightened investor demand for defensive assets. Adding support to its revenue mix, earnings from insurance policies, which show the company's ability to convert written premiums into actual income, are inching higher, as TipRanks data indicates. Notably, the company has essentially paused its share buyback program, which may indicate that management views the stock as fully valued or even overvalued at current levels. This elevated valuation leaves limited margin for error. If cash yields decline and Berkshire is unable to redeploy capital efficiently, the stock could be vulnerable to multiple compression, particularly if investor sentiment shifts back toward growth-oriented equities in a lower-rate environment. Wall Street analysts remain actively bullish on BRK.B stock, possibly reflecting confidence in the firm's future leadership change, despite shares trading at a lofty P/B premium. Today, the stock has a Moderate Buy consensus rating based on two unanimous Buy ratings over the past three months. BRK's average price target of $591 implies that shares have a roughly 20% upside from their current levels. Berkshire Hathaway's circa $348 billion cash reserve—fueled by strategic asset sales and substantial operating income—has been a standout asset in a high-interest-rate environment. However, with growing U.S. debt levels putting pressure on the Fed to cut rates, the yield on that cash is likely to fall, just as Warren Buffett remains cautious on new equity investments. Meanwhile, the stock's elevated price-to-book ratio heightens downside risk. As economic conditions evolve, investors seeking shelter in Berkshire may face increased volatility ahead, and there may be more agile and better-positioned alternatives in today's macro landscape. Disclaimer & DisclosureReport an Issue
