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Inside Apple

Inside Apple (Dec 5th, 2017)

$AAPL (2:18 p.m. EST): $170.40 (↑.35%) // More info  

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Apple has debuted Pay Cash, in an attempt to challenge Venmo and Square Cash. The service is available to people who have iOS 11.2 on their iPhones. The feature lets people digitally transfer cash into another user’s Apple Pay wallet. It's different from Apple Pay, which allows people to connect their debit or credit cards for payment. Pay Cash lets users transfer money to other individuals. CNBC offers a step-by-step on how to use the new app. — FORTUNE

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Apple's iPhone is now available SIM-free. Apple's online store now contains a "buy without a carrier" option, allowing people to buy without using AT&T, T-Mobile, Verizon, or Sprint.  Prior to today, customers had to choose a wireless carrier in the U.S. Now, customers can pay full price and activate the phone with the carrier of their choice. The unlocked SIM-free iPhone X still starts at $999 with 64GB. Apple also sells a 256GB model for $1,149, the same price as a carrier model. — ENGADGET

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Apple has acquired podcast search engine Pop Up Archive. The company was founded in 2012 to help podcast producers automatically transcribe their audio recordings into text. The transcript can then also be used to make recommendations or match advertisers with the right topics.  Its search engine was used by outlets that include NPR.  — FT

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Ireland will collect $15 billion in back taxes from Apple. The European Commission had ordered Ireland to collect the money after concluding that two Irish tax rulings allowed Apple to pay less tax than other businesses – giving the company an unfair advantage. The Commission ordered Ireland to collect the back taxes for the years 2003-2014. Apple said in a statement that it remains confident the court will overturn the commission’s decision once it has reviewed the evidence. “The Commission’s case against Ireland has never been about how much Apple pays in taxes, it’s about which government gets the money,” Apple said in a statement. “The United States government and the Irish government both agree we’ve paid our taxes according to the law.”  The funds will be held in an escrow account pending appeal. — AP

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David Kang, the senior director of Apple News monetization and strategy, is resigning after just one year in the position. Publishers have been looking to Apple to help monetize their content through ads, but many have not seen any revenue from Apple's news aggregation app. Apple declined to comment. Kang joined Apple in 2014. It is expected that he will be transferred to another role at Apple, and his position is expected to be filled. He's the latest high-ranking Apple News official to step aside; in February, Donna Ogier, who oversaw media partnerships for Apple News, joined Snap Inc.  — DIGIDAY

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Qanta Computer Inc., a manufacturing partner of Apple, has a licensing agreement with Lumus to produce AR lenses. Qanta led the $45 million investment round last year for Lumus, a company based in Israel that designs displays for AR glasses. Under the new agreement, Qanta will manufacture the lenses for Lumus, and also have the option to produce them for other technology companies. Qanta has other clients that include HP and Acer, but the company gets almost 60 percent of its revenue from Apple. This item first appeared in our daily VR/AR digest. — BLOOMBERG

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App of the Day Tracker

Apple's highest editorial/curatorial standard is its coveted "App of the Day." We've heard from many investors, developers, and entrepreneurs that they watch these obsessively to spot trends and rising companies. We're going to keep a running list of the prior week's apps that Apple has featured. Here's the latest list:

12/5: Paste by FiftyThree: Decks for Creative Teams (productivity, free to download; in-app purchases)

12/4: Hintsy: Sent the perfect gifts (shopping, free to download; in-app purchases)

12/3: Paperless Post: Online Invitations and eCards (lifestyle, free to download; in-app purchases)

12/2: MathTango: Addition and subtraction fun (education,  free to download; in-app purchases)

12/1: Twitch: Live streaming for gamers (photo & video, free to download; in-app purchases)

11/30: Paper by FiftyThree: Simple, Beautiful Sketching (productivity; free to download; in-app purchases)

11/29: CARROT Fit: 7-Minute Workout & Weight Tracker (health & fitness; $3.99)

For more, check out our public App of the Day tracker

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