Samsung will take $5.3 billion hit from Note 7 recall

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Galaxy Note 7 water wet
The Note 7 is all washed up.
Photo: Killian Bell/Cult of Mac

Issuing a global recall for the Galaxy Note 7 is going to cost Samsung even more money than it expected.

Samsung released a statement to investors today revealing that its fiery phablet will hurt overall profits for the next two fiscal quarters, costing the company a total of $5.3 billion.

AirPods point to Apple’s domination of ‘ambient paradigm’

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Apple's AirPods are the best bargain around.
Photo: Apple

The Apple Watch and new AirPods may seam like silly side projects to fans, but some analysts on Wall Street believe the company is using the two new products to lay the groundwork for the next era of personal technology.

While Silicon Valley is obssessed with virtual reality headsets, Apple is obsessed with making gadgetry less visible. UBS analysts Steven Milunovich and Benjamin Wilson told clients that while many firms see a lot of downside for Apple, the company’s “ambient paradigm” could be a huge money maker.

Liveblog: Apple’s surprising Q3 earnings report

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Q3 is usually Apple's weakest quarter.
Q3 is usually Apple's weakest quarter.
Photo: Ste Smith/Cult of Mac

All eyes are on Apple this afternoon as the company is set to report its Q3 2016 earnings and Wall Street isn’t expecting anything great.

Apple CEO Tim Cook warned in March that the company will post declining revenues compared to a year ago, but with iPhone sales on the decline as customers wait to upgrade to the iPhone 7, the numbers could be a bit lower than investors are hoping for.

Today’s earnings call for Q3 2016 is set to kick off at 2 p.m. Pacific, when analysts from the top firms around the world will have a chance to ask Tim Cook and CFO Luca Maestri whether iPhone sales have finally bottomed out, or if things are still going to get worse before they get better.

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Warren Buffett is betting big on Apple

Apple shares are taking a dive.
Berkshire Hathaway's investment in Apple could send the price back up.
Photo: Ste Smith/Cult of Mac

Some of the world’s biggest investors have ditched their Apple shares lately, but where others see doom and gloom Warren Buffett sees an opportunity to make some serious money. 

Warren Buffet’s legendary investment firm Berkshire Hathaway has taken a large position in Apple stock, scooping up 9.81 million shares, worth about $1.07 billion.