By Cody Lee on Jan 6, 2017
Tim Cook and other executives received less revenue in 2016, as Apple failed to hit its revenue and profit goals for the year. The Wall Street Journal points to a regulatory filing, which says the miss kept the leaders from hitting some cash incentives.
Apple said its annual sales were $215.6B, 3.7% below its target of $223.6B, and its operating income of $60B was 0.5% short of their $60.3B target. As a result, Cook received $8.75 million in 2016 compensation, down from $10.3 million in 2015. Read More
By Cody Lee on Jan 4, 2017
Apple is planning to announce its earnings results for Q1 of [fiscal] 2017 on January 31. The company on Wednesday updated its investor website to show that it will be hosting a conference call to discuss the quarter that Tuesday at 2:00pm PT.
Apple’s first quarter is of course its holiday quarter, which covers the popular 3-month holiday shopping period between October and December. And as usual, all eyes will be on the company to see if it was able to solve its recent growth problems. Read More
By Cody Lee on Jan 4, 2017
Apple is investing in SoftBank Group’s new technology fund, reports The Wall Street Journal. The company confirmed its plans with the outlet to invest $1 billion in the SoftBank Vision Fund to help finance new technologies that it could use in the future.
“We believe their new fund will speed the development of technologies which may be strategically important to Apple,” Apple spokeswoman Kristin Huguet told The Journal. She also noted that Apple has been working with SoftBank for several years. Read More
By Sébastien Page on Nov 24, 2016
French tax authorities have recently issued Apple a fine in the amount of 400 million euros (about $422 million), according to L’Express. At the core of the adjustment is Apple’s complex and controversial tax optimization scheme that allows the firm to send back the lion share of its profits to tax-friendly countries such as Ireland. Read More
By Cody Lee on Nov 16, 2016
Apple plans to cut the amount it charges to sell video services over its App Store, Bloomberg reports. The outlet says the move is part of an effort to appease content partners, whose TV shows and movies are vital to the company’s larger video strategy.
Previously, the iPhone maker took a 30% cut of revenue from app and in-app purchases. Then in June it announced it would slice that in half after the first year Now it sounds like Apple is going to make that an upfront price for participating video apps. Read More
By Christian Zibreg on Nov 10, 2016
In August, the European Commission slammed Apple with a tax bill from hell over a sweetheart deal it received from Ireland—which, in the Commission’s view, constitutes “illegal state aid”.
Dublin promptly promised to join Apple’s fight against EU and it’s put its money where its mouth is.
Michael Noonan, Finance Minister in the Irish government, said that Dublin today challenged the EU judgment by submitting an appeal to the European courts in a bid to block the decision, ArsTechnica reports. Read More
By Sébastien Page on Nov 4, 2016
Apple captured 103.6% of smartphone industry profits in the third quarter of 2016, making it by far the most profitable company in the business, according to BMO Capital Markets analyst Tim Long. This represents a notable increase from the year-ago quarter where Apple had grabbed 90% of smartphones profits. Read More
By Cody Lee on Oct 27, 2016
Apple just announced pricing and availability information for its shiny new MacBook Pro. Apparently it will come in 3 models, starting at $1,499, and you can order them all today. Shipping times are different, however, depending on which model you’re after.
The entry-level 13-inch MacBook Pro is essentially a MacBook Air replacement. It shares the slimmer design and various internals with the new MacBook Pro, but it comes with physical Function keys instead of the Touch Bar, and doesn’t have Touch ID. Read More
By Cody Lee on Oct 25, 2016
Apple announced the financial results for its fiscal fourth quarter of 2016 this afternoon, and although they met Wall Street estimates, the numbers are still pretty rough. iPhone sales are down 3 million units, and revenue is down $4.5 billion from the year-ago quarter.
Following the release of its earnings, CEO Tim Cook and CFO Luca Maestri hopped on a conference call to talk about their company’s performance over the last 3 months, and offer up some insights into its future. Here are some of the most interesting points from the call. Read More
By Cody Lee on Oct 25, 2016
Apple on Tuesday posted its [fiscal] fourth quarter earnings for 2016, offering a look at its performance over the past 3 months. The Cupertino company came close to most of Wall Street’s expectations, selling 45.5 million iPhones, 9.3 million iPads and earning $46.9 billion in revenue. The numbers are still down year-over-year, however, as the struggle to find new growth continues. Read More
By Cody Lee on Aug 23, 2016
Spotify is out of contract with all three major music companies, and according to Music Business Worldwide, the renegotiations aren’t going well. Citing sources familiar with the talks, the outlet says the sticking point is revenue share.
With Spotify preparing for an IPO, the labels see this as a great opportunity to get the streaming company to raise its revenue split from around 55% to 58%, which is what Apple Music pays. Spotify, however, wants to lower the amount. Read More
By Cody Lee on Aug 10, 2016
Apple on Wednesday announced that its ConnectED efforts now reach over 32,000 students. In a note on its website, the company said that as of the start of the 2016 school year, there are 32,145 students at underserved public schools in the US that are learning on iPad through the program. Read More
By Christian Zibreg on Aug 3, 2016
According to Apple CEO Tim Cook himself, the App Store has set a new record in July with highest-ever monthly billings and money paid to developers. Developers have now earned over $50 billion from sales of their apps since the App Store’s debut in the summer of 2008—and that’s after the company’s standard thirty percent cut on all App Store proceeds.
The CEO took to Twitter to congratulate developers on their “success and such inspired creativity”. Read More
By Christian Zibreg on Aug 1, 2016
In February 2016, a federal jury ordered that Apple pay $625 million to VirnetX Holding Corp after being found guilty of willfully infringing on technologies found in VirnetX’s patents related to virtual private networking protocols. Friday, the judge voided that ruling after determining that the case should be revisited, CNBC reports. VirnetX alleges that its patented technology is used in FaceTime and iMessage on the iPhone, iPad and Mac. 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 Cody Lee on Jul 26, 2016
Apple announced the financial results for its fiscal third quarter of 2016 this afternoon, and although they beat Wall Street estimates, the numbers are pretty rough. iPhone sales are down 7 million units, and revenue is down $7 billion from the year-ago quarter.
Following the release of its earnings, CEO Tim Cook and CFO Luca Maestri hopped on a conference call to talk about Apple’s performance over the last few months, and offer up some insights into its future. Here are your 15 most interesting points from that call. Read More
By Cody Lee on Jul 26, 2016
Apple on Tuesday released its earnings report for the third [fiscal] quarter of 2016. The Cupertino company exceeded expectations, selling 40.4 million iPhones, 10 million iPads and earning $42.4 billion in revenue. The numbers are still down year-over-year, however, with 47.5 million iPhones and nearly $50 billion in revenue in Q3 2015. 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 Cody Lee on Jul 6, 2016
Verizon on Wednesday announced a new wireless plan platform and several new features for its customers. The new plan is more expensive, but it includes at least 30% more data than the previous offering, as well as new stuff like Carryover Data and Safety Mode.
It looks like they’re calling it simply the new Verizon Plan, and it comes in 5 flavors: Small, Medium, Large, X-Large and XX-Large. The Small option costs $35 per month for 2GB (previously $30/month for 1GB), and the XXL gives you 24GB for $110 per month. Read More