Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nasdaq  >  Apple    AAPL

APPLE (AAPL)

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets 

Tech CEOs meet with Trump on government overhaul

share with twitter share with LinkedIn share with facebook
share via e-mail
0
06/20/2017 | 01:57am CEST
Kushner welcomes technology company leaders to a summit of the American Technology Council at the Eisenhower Executive Office Building in Washington

President Donald Trump met on Monday with the heads of 18 U.S. technology companies including Apple Inc (>> Apple), Amazon.com Inc (>> Amazon.com) and Microsoft Corp (>> Microsoft Corporation), seeking their help to make the government's computing systems more efficient.

President Donald Trump met on Monday with the heads of 18 U.S. technology companies including Apple Inc (>> Apple), Amazon.com Inc (>> Amazon.com) and Microsoft Corp (>> Microsoft Corporation), seeking their help to make the government's computing systems more efficient.

The White House wants to update government information technology systems, cut costs, eliminate waste and improve service. Trump on Monday cited estimates that the government could save up to $1 trillion over 10 years through such measures.

"Our goal is to lead a sweeping transformation of the federal government’s technology that will deliver dramatically better services for citizens," Trump said. "Government needs to catch up with the technology revolution."

The executives are part of the so-called American Technology Council that Trump formed in May to support efforts to modernize the U.S. government.

“The U.S. should have the most modern government in the world. Today it doesn’t,” Apple Chief Executive Officer Tim Cook said

Amazon Chief Executive Officer Jeff Bezos said he wanted the Trump administration to make use of commercially available technologies, worker retraining, machine learning and artificial intelligence.

Before meeting with Trump, the CEOs met in 10 small group sessions with Vice President Mike Pence, Treasury Secretary Steve Mnuchin and Commerce Secretary Wilbur Ross, along with the presidents of the Massachusetts Institute of Technology and Ohio State University.

Jared Kushner, Trump's son-in-law and adviser, said the administration wanted to "unleash the creativity of the private sector to provide citizen services in a way that has never happened before."

He said the administration was scrapping unneeded regulations for government computing systems, such as a rule on preventing Y2K issues. Most of the government's 6,100 data centers can be consolidated and moved to a cloud-based storage system.

The White House is seeking to shrink government, reduce the federal workforce and eliminate regulations.

Trump in March signed an order to overhaul the federal government and tapped Kushner to lead a White House Office of American Innovation to leverage business ideas and potentially privatize some government functions.

Many of the tech executives are eager to get White House help in dealing with regulatory and other policy issues such as visas for highly skilled workers.

Others attending include Alphabet Inc (>> Alphabet) Executive Chairman Eric Schmidt, venture capital firm Kleiner Perkins Chairman John Doerr and the CEOs of Microsoft Corp (>> Microsoft Corporation) International Business Machines Corp (>> International Business Machines Corporation), Intel Corp (>> Intel Corporation), Qualcomm Inc (>> Qualcomm), Oracle Corp (>> Oracle Corporation) and Adobe Systems Inc (>> Adobe Systems). Facebook (>> Facebook) CEO Mark Zuckerberg was invited but could not attend because of a conflict, the company said.

A 2016 U.S. Government Accountability Office report estimated the U.S. government spent more than $80 billion in IT annually, excluding classified operations. In 2015, the U.S. government made at least 7,000 separate IT investments and some agencies were using systems that had components at least 50 years old. "This structure is unsustainable," Kushner said.

VISA PROGRAM

The CEOs and White House also planned to discuss Trump's review announced in April of the U.S. visa program for bringing high-skilled foreign workers into the country. Cook plans to raise immigration, a person briefed on the matter said Sunday.

The council also seeks to boost the security of U.S. government IT systems and wants to learn from private-sector practices. In 2015, hackers exposed the personal information of 22 million people from U.S. government databases.

The White House thinks it can learn from credit card companies about significantly reducing fraud. A 2016 government audit found that in Medicaid alone there was $29 billion in fraud in a single year.

Following Trump's June 1 decision to withdraw from the Paris climate accords, Tesla (>> Tesla) CEO Elon Musk and Walt Disney (>> Walt Disney Company (The)) CEO Robert Iger stepped down from White House advisory panels. White House officials said the dispute had little impact and that they had to turn away tech leaders from Monday's event because of lack of space.

(Reporting by David Shepardson; Editing by Richard Chang and Cynthia Osterman)

By David Shepardson

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on APPLE
08:50p Apple, Cisco want cyber security insurance discount for joint customers
05:09a TIM WESTERGREN : Pandora Media's CEO Tim Westergren to step down - Recode
06/25DJAPPLE : In 10 Years, Your iPhone Won't Be a Phone Anymore
06/23 BlackBerry misses sales forecasts, shares tumble
06/23 NETWORKNEWSBREAKS – PARKERVISI : PRKR) Shares Plunge on Holding Decision i..
06/23DJAPPLE : From Music to Maps, How Apple's iPhone Changed Business
06/23DJIMAGINATION TECHNOLOGIES : U.K. Chip Designer Puts Itself on Block -- WSJ
06/23 IPHONE 8 COULD FEATURE AUGMENTED REA : Rumors, News, Release Date
06/23 Sprint's iPhone-only Virgin Mobile strategy will put current Android customer..
06/22 MYDX : Technology and Markets News Provider, GekBuzz Says, the Marijuana Vape In..
More news
Sector news : Computer Hardware - NEC
11:50a EU court seen ruling on Intel antitrust case next year - judge
06/21 Bain to be biggest investor in Toshiba chip unit, putting up $7.7 billion - s..
06/21 JAPAN TRADE MINISTRY ASKS WESTERN DI : sources
06/15 TOSHIBA : Western Digital expects ruling on injunction request by mid-July
06/10 Western Digital to raise Toshiba chip offer in last-ditch bid
More sector news : Computer Hardware - NEC
News from SeekingAlpha
02:46p Apple using leased Hertz SUVs in autonomous testing
01:25p Apple CEO praises Indian PM, iPhone SE launches in the country
12:46p APPLE : Buy Dollars For Less Than 70 Cents
12:32p AUGMENTED REALITY : Apple's Revolutionary Offering
11:48a It's 1999 All Over Again
Advertisement
Financials ($)
Sales 2017 226 647 M
EBIT 2017 60 585 M
Net income 2017 46 665 M
Finance 2017 164 551 M
Yield 2017 1,61%
P/E ratio 2017 16,41
P/E ratio 2018 13,98
EV / Sales 2017 2,64x
EV / Sales 2018 2,27x
Capitalization 762 681 M
More Financials
Chart APPLE
Duration : Period :
Apple Technical Analysis Chart | AAPL | US0378331005 | 4-Traders
Full-screen chart
Technical analysis trends APPLE
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 46
Average target price 158 $
Spread / Average Target 7,9%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Timothy Donald Cook Chief Executive Officer & Director
Arthur D. Levinson Chairman
Jeffrey E. Williams Chief Operating Officer
Luca Maestri CFO, SVP & Vice President-Human Resources
Kevin M. Lynch Vice President-Technology
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
APPLE26.30%762 681
HP INC19.95%29 963
HEWLETT PACKARD ENTERP..-2.99%27 932
SEAGATE TECHNOLOGY PLC11.79%12 657
PEGATRON CORPORATION--.--%8 212
LENOVO GROUP LIMITED6.36%7 165
More Results