By Tribunist Staff
Antisemitism
in America is on the rise since the election of Donald Trump. The
desecration of a Jewish cemetery in St. Louis this week is just the
latest example.
Late Sunday evening, or early Monday, vandals toppled or broke more
than 100 headstones at a historic Jewish cemetery in St. Louis.
Those opposed to the President’s harsh tone toward immigrants
consider the hateful actions to be part of an unwritten agenda being
enacted by the new administration. Yet there’s one positive sign that
would suggest this isn’t the case.
On Wednesday, Vice President Pence condemned the vandalism of the
Jewish cemetery. While he could of done this from Washington, he
traveled to St. Louis. And not just to make a speech. The Vice President
rolled up his sleeves and helped with the clean-up efforts.
“On Monday morning, America awoke to discover that nearly 200
tombstones were toppled in a nearby Jewish graveyard,” Pence said later.
“Speaking just yesterday, President Trump called this a horrible and
painful act. And so it was.
That along with other recent threats to
Jewish community centers around the country, he declared it all a sad
reminder of the work that still must be done to root out hate and
prejudice and evil,” he continued.
“We condemn this vile act of vandalism and those who perpetrate it in the strongest possible terms.”
While the vandalism is offensive, there’s been a more pervasive
undertone of violence building.
In 2017 alone, 54 Jewish community
centers have had bomb threats. The threats span 27 states.
Donald Trump continues to protest at accusations that he is in any
way hostile toward Jews. At a press conference last week, Trump exploded
on Jake Turx from Ami Magazine (an Orthodox Jewish weekly based in
Brooklyn).
“Despite what some of my colleagues may have been reporting,” Turx
said, “I haven’t seen anybody in my community accuse either yourself or
anyone on your staff of being anti-Semitic. We understand that you have
Jewish grandchildren. You are their zayde,”
“Thank you,” Trump responded.
“However,” Mr. Turx added, “what we are concerned about and what we
haven’t really heard being addressed is an uptick in anti-Semitism and
how the government is planning to take care of it. There’s been a report
out that 48 bomb threats have been made against Jewish centers all
across the country in the last couple of weeks. There are people
committing anti-Semitic acts or threatening to——”
That’s “not a fair question,” Trump interjected. When Turx continued, Trump cut him off.
“Sit down,” he said. “I understand the rest of your question.”
“So here’s the story, folks. No. 1, I am the least anti-Semitic
person that you’ve ever seen in your entire life. No. 2, racism, the
least racist person.”
Turx again tried to clarify.
“Quiet, quiet, quiet,” Trump said over him. “I find it repulsive. I hate even the question because people that know me. …”
This week, the President has focused his rhetoric on the issue.
“Anti-Semitism is horrible and it’s going to stop and it has to stop,”
Trump told MSNBC on Tuesday during his tour of the National Museum of
African American History and Culture.
Those critical of Trump’s recent denouncements claim he should have
spoken on the matter sooner. Words are one thing. Pence’s actions,
though, speak volumes.
Optimism on new iPhone and hopes on cash repatriation propel group past its 2015 level
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Apple
stock hit a new all-time high on Monday, driven by investor optimism
that the launch of a new iPhone later this year will spark a sales
“supercycle” and hopes that the company’s $230bn in overseas cash might
soon be put to greater use.
It has taken two years for Apple to
surpass its record closing price of $133 in February 2015, despite
briefly breaking above that level during intraday trading at $134.54 in
April of that year. The shares closed at $133.29 on Monday, valuing the
company at $700bn.
Apple shares have risen by more than 15 per cent so far in 2017 and by
more than 40 per cent in the past year. The iPhone maker overtook
arch-rival Samsung to become the top-selling smartphone maker in the
fourth quarter of 2016, according to several researchers.
Apple’s
valuation has increased by more than 1,000 per cent in a decade. After
the stock’s four-year surge following the release of the
second-generation iPhone in 2008, Apple investors have had a more
turbulent ride under chief executive Tim Cook since 2012, amid recurring
doubts about his ability to maintain the series of innovations and
growth seen under co-founder Steve Jobs.
Now, after briefly losing its crown as the world’s most valuable company
to Silicon Valley rival Alphabet a year ago, investors are turning back
to Apple as a high-yielding, slower-growing bet on the smartphone’s
continuing domination of the technology industry.
Quarterly
earnings at the end of January beat Wall Street’s expectations,
prompting several analysts to raise their estimates for how much higher
the stock could go.
Many on Wall Street are pinning their hopes on a “supercycle” of
consumers upgrading their iPhones when the next model arrives in
September. Goldman Sachs’ price-target rise to $150 on Monday helped
propel the stock to its new high, as it predicted a “significant step-up
in innovation” with the next iPhone.
That smartphone is expected to be a more radical departure from its
predecessors than the past two updates, with a brand new design
featuring an edge-to-edge organic light-emitting diode screen, and
wireless charging, as well as new “augmented reality” features.
This
month, Apple joined the Wireless Charging Consortium, signalling its
wider commitment to a technology that it first used in its Apple Watch.
Mr Cook told The Independent newspaper in an interview last week that he
sees AR — that allows digital images to be intermingled with the real
world, either through a handset’s camera or a headset — as a “big idea
like the smartphone” that could appeal to “everyone”.
“I think AR is that big, it’s huge,” Mr Cook said.
Goldman analysts said in Monday’s note: “Augmented reality could be the
new killer app to reinvigorate upgrade demand for premium smartphones
and in particular the iPhone.”
After
Apple reported better than expected earnings last month, Morgan Stanley
also raised its price target to $150, in part because of strength in
Apple’s services business, which could lift overall profit margins in
the coming years. Around the same time, Citi lifted its target to $140,
given stronger-than-expected iPhone sales and pricing for the holiday
quarter.
“In our view, Apple remains one of the most under-appreciated stocks in
the world,” said Brian White at Drexel Hamilton in a recent note.
Apple’s quarterly regulatory filing revealed that advanced purchase
commitments with suppliers rose 16 per cent year on year, which some
analysts took as a signal of stronger revenue growth ahead.
UBS
said it was the largest increase since September 2015, coming after four
quarters of declines, and “somewhat surprising” given expectations of
“flat-to-down” hardware sales for the March quarter.
Further boosting the share price is that many investors are hoping a tax
holiday under the Trump administration would allow the iPhone maker to
repatriate some of its $230bn offshore cash pile.
Those funds could then be used to increase its capital return programme,
which has already pledged to return $250bn to shareholders by March
2018. Of that, more than $200bn has been paid out to date, Apple said
last week, including $15bn in dividends and share buybacks in the last
quarter.
Apple
pays out about 22 per cent of its free cash flow, according to a recent
note by RBC Capital Markets, a figure its analysts say could be
increased to more than 50 per cent, attracting a “host of new
investors”.
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