By Christian Zibreg on Aug 30, 2016
The European Commission has ruled that Apple is on the hook for €13 billion ($14.5 billion) in back taxes as its “sweetheart deal” to pay a lower tax rate in Ireland has been characterized as “illegal state aid”.
Apple is going to appeal the ruling and now CEO Tim Cook has penned an open letter, entitled “A Message to the Apple Community in Europe,” in which he explains Apple’s position in this case, writing he is “confident” that the huge tax bill will be reversed. Read More
By Christian Zibreg on Aug 30, 2016
At a press conference Tuesday, the European Commission’s competition commissioner Margarethe Vestager announced that the European Union has ordered the government of Ireland to collect up to €13 billion, or about $14.5 billion, in back taxes from Apple. The sum represents Europe’s largest tax penalty and a significant increase over the 1 billion figure floated around ahead of the ruling.
Apple will appeal the decision. Read More
By Christian Zibreg on Aug 29, 2016
According to a 130-page judgment seen by The Financial Times, the European Commission (EC) is set to rule Tuesday against Apple’s sweetheart tax deal it struck with the government of Ireland back in 1999.
The Commission is reportedly set to demand that Ireland recoup over 1 billion euros in back taxes from the iPhone maker, or circa $1.12 billion.
“Apple will on Tuesday be hit with Europe’s largest tax penalty after Brussels ruled that the company received illegal state aid from Ireland,” warns the financial newspaper. Read More
By Christian Zibreg on Jul 28, 2016
Samsung this morning announced results for the second calendar quarter ended June 30, and the numbers are encouraging despite global smartphone sales cooling down. The South Korean conglomerate’s mobile division reported “substantial earnings improvement” buoyed by strong sales of its flagship Galaxy S7 and Galaxy S7 edge flagship smartphones.
The data is newsworthy given strong competition Samsung has been facing on the low-end from Chinese rivals like Xiaomi and Huawei and on the high-end from Apple’s iPhone. This is the best earning result Samsung has posted in two years, by the way. Read More
By Christian Zibreg on Jul 18, 2016
Shares of Apple have passed the psychological important barrier of a hundred bucks per share ahead of the company’s ahead June quarter earnings report, which is scheduled to take place next Tuesday, July 26. This marks the first time Apple’s stock price broke the $100 mark in six weeks after the stock plunged below $90 following weaker-than-expected iPhone sales, CNBC tweeted this morning. Read More
By Christian Zibreg on Jul 11, 2016
Citing market forecasts quoted by the Commercial Times newspaper, Taiwanese trade publication DigiTimes reported Monday that shares of Taiwan Semiconductor Manufacturing Company Limited (TSMC) could hit record levels thanks to orders for the Apple-designed ‘A10’ system-on-a-chip, the engine that will drive the next iPhone and iPad. TSMC just posted strong numbers for the second financial quarter. Read More
By Christian Zibreg on Jun 28, 2016
Apple will talk sales, revenue, profitability, the cost of doing business and other financial metrics pertaining to its third fiscal quarter, which translates into the second calendar quarter of this year, on July 26, according to an announcement posted on the Apple Investor webpage.
A conference call in which the company will discuss the latest quarterly results with investors and Wall Street analysts is scheduled for Tuesday, July 26, 2016 at 2pm Pacific / 5pm Eastern. Read More
By Christian Zibreg on Nov 3, 2015
Silicon Valley giants Apple, Amazon, Google, PayPal and Intuit have formed a coalition to promote the benefits of financial technologies in order to help the U.S. government better understand these technologies and ensure greater innovation in financial services, Re/code reported Tuesday.
The initiative is called the Financial Innovation Now and aimed at accelerating the pace of change in financial services, according to the official website. Read More
By Christian Zibreg on Mar 6, 2015
Apple of California will replace AT&T in the Dow Jones Industrial Average after the close of trading on March 18, Reuters reported this morning. The famed Dow Jones Industrial Average is indicative of the overall market health so Apple joining and replacing the nation’s second-largest carrier on the index is certainly an encouraging sign for the economy.
Because the Dow is a weighted average of absolute stock price (unlike other indices), Apple was unable to join the Dow until its seven-to-one stock split, which took place in June of last year. Read More
By Christian Zibreg on Feb 18, 2015
As reported Wednesday by BBC News, two banks in the United Kingdom will soon allow their customers access their bank accounts using Touch ID-based fingerprint identification technology, a UK first.
“RBS and NatWest customers must activate the feature with their security information, but would only need to use Apple’s Touch ID thereafter,” reports the BBC.
To protect their customers’ sensitive financial information and mitigate risk, the banks have put a number of restrictions in place to augment Apple’s existing Touch ID safeguards. Read More
By Lory Gil on Feb 9, 2015
How people keep track of finances is a personal preference. Some like complex, feature rich programs that allow them to connect and follow all of their income and expenses meticulously. Others are happy with simplicity.
1SecMoney is a simple finance-tracking app that lets you add daily additions and subtractions for your bank and credit card accounts. You can also input items directly from Notification Center using the Today widget. We’ve got a hands-on app review of 1SecMoney for you today. Read More
By Christian Zibreg on Jul 30, 2014
If you’re something of a number guy like Apple’s Time Cook, there’s no better way to catch up on the latest stock quotes, company trends and breaking financial news than Yahoo’s excellent Finance service, available on the web and mobile.
I mean, even Apple’s own Stocks uses Yahoo as a data source. Today, the Internet company has pushed a new update to its free Finance iOS app.
It’s got a brand new look, introduces real-time pre and after-market data, offers built-in financial news and more… Read More
By Cody Lee on Jul 8, 2014
Samsung today issued its earnings guidance for the second quarter of 2014, and in somewhat of an odd move, it attached a note to the document explaining why it will fall short of estimates. The company expects to see its profits drop for the third consecutive quarter.
The note details a number of factors, including the improving strength of the Korean won making exports more expensive, and exceedingly sluggish tablet sales. It also explains that it is running into greater competition in China from low-end device makers like Xiaomi… Read More
By Sébastien Page on Jun 30, 2014
Apple just announced via its Investor Relations portal that the company will be discussing financial results of its third fiscal quarter on July 22nd, during a conference call starting at 2:00 p.m. PT / 5:00 p.m ET. Based on past behavior, it is safe to assume that Apple will be publishing a press release with all relevant financial information a few minutes prior to the call’s beginning.
During the conference call, Apple will discuss basic sales numbers and financials for its line of products, but don’t expect them to reveal anything about future products. We will of course be on deck to report any information that might be relevant to our readers… Read More
By Lory Gil on Jun 17, 2014
We’ve reviewed a number of personal finance apps in recent months, especially since the launch of iOS 7. One complaint I’ve heard is that many of the new app designs look too cartoonish or childlike.
Spendbook – Personal Finance Tracker is a comprehensive budgeting app that doesn’t look like a candy shop. Instead of a white background with pastel colors, you’ll be tracking your spending with a dark themed app that won’t make you feel like you are looking at a coloring book… Read More
By Christian Zibreg on Jun 9, 2014
As promised during Apple’s most recent earnings call, the Cupertino, California headquartered consumer electronics powerhouse is set to open on Monday at $92.22 a share as the company puts forth its plan to split stock, its fourth stock split to date.
All common stock owners will receive six additional shares for each share in existence. As a result, the value of each individual share will drop accordingly, but the value of their total holdings will not. Read on for the full reveal… Read More
By Lory Gil on Apr 27, 2014
When you are self-employed, run your own business, or get sent out of town for work, keeping track of what you spend is very important. If you don’t report how much money you spent on a cup of coffee to keep you awake during that presentation, you won’t be reimbursed for it later.
Whether you file a 1099 each year, are a member of the Frequent Flier Club, or only travel once or twice per year, we’ve got a list of the best expense tracking apps for iPhone that are perfect for work-related travel and business-related finance… Read More
By Christian Zibreg on Mar 28, 2014
Demand for Apple’s latest products is as strong as ever, it would seem. After reporting sales of 51 million iPhones and 26 million iPads during the lucrative holiday quarter, as a result Apple’s key contract manufacturers – Foxconn and Pegatron – are seeing a nice rise in their earnings, too.
Pegatron, the primary manufacturer of the iPhone 5c and iPad mini, last week reported a cool 22 percent annual rise in earnings attributed to strong demand for mobile products. Apple is responsible for as much as 40 percent of Pegatron’s business so the manufacturer’s fortunes are closely tied to the iPhone maker’s.
As for Foxconn, they reported a 13 percent rise in net profit today. Foxconn is the world’s top contract manufacturer and Apple’s lead supplier… Read More
By Christian Zibreg on Feb 10, 2014
Controversial activist investor Carl Icahn continues to aggressively purchase shares of Apple while insisting that the company increase the size of its share buyback program. His proposal for a $50 billion buyback has been met with resistance by proxy advisory firm Institutional Shareholder Services (ISS) which now recommends voting against the plan.
ISS argues that the Apple board has already returned the bulk of its U.S.-generated cash to shareholders through the company’s aggressive stock buybacks and dividends payouts. As a result of large institutional investors siding with Apple, Icahn has withdrawn his proposal… Read More
By Christian Zibreg on Jan 6, 2014
According to the Apple Investor webpage, the company will hold a conference call on Monday, January 27, to discuss financial results of its first fiscal 2014 quarter. The call is scheduled at 2:00pm Pacific / 5pm Eastern Time.
Apple typically announces quarterly earnings via a press release issued half an hour ahead of these calls and we’ll be providing around the clock coverage to make sure you’re up to date on all matters concerning the company’s business metrics.
The upcoming earnings report should be interesting on many levels as it will cover the all-important holiday season sales data for the iPhone 5s/5c, the iPad Air and iPad mini with Retina display… Read More