Apple ordered to pay $625 million in VirnetX patent suit

By Cody Lee on Feb 3, 2016

Apple has been ordered by a federal jury in east Texas to pay $625 million for patent infringement, Reuters reported late Wednesday. The jury found the iPhone maker guilty of using VirnetX’s security technology without its permission.

More specifically, Apple was found guilty of willfully infringing on technology found in VirnetX Holding Corp’s patents related to virtual private networking protocols, which Apple uses in its FaceTime and iMessage apps on iPhone and iPad. Read More

 

Bank of America and Wells Fargo adding Apple Pay support to ATMs

By Cody Lee on Jan 28, 2016

Both Bank Of America and Wells Fargo are working on integrating Apple Pay into their ATMs, reports TechCrunch. The outlet says it has learned that ATM engineers from the two companies have been placed on assignments to build out support for Apple’s digital wallet.

When questioned, Wells Fargo’s head of ATMs Jonathan Velline implied that the report holds water, telling TechCrunch his team has been working on the technology that will allow the bank to hook into digital wallets to replace the need for cards during ATM transactions. Read More

 

15 interesting points from Apple’s Q1 2016 earnings call

By Cody Lee on Jan 26, 2016

Apple announced the financial results for its fiscal first quarter of 2016 this afternoon, and the numbers are pretty solid. The company broke its own records on handset sales, moving 74.8 million iPhones, and revenue, garnering nearly $76 billion during the three-month holiday period.

We’ve just finished up the conference call, where Tim Cook and CFO Luca Maestri discussed Apple’s performance over the three-month period, and offered up some insights into its future. And as usual, we’ve rounded up the 15 most interesting points from the call below. Read More

 

Tim Cook: Apple has surpassed 1 billion active devices worldwide

By Cody Lee on Jan 26, 2016

“Our installed base recently crossed a major milestone of one billion active devices,” Tim Cook said in a statement for the company’s Q1 2016 earnings press release. The news comes on the back of a record-breaking quarter, where Apple sold 74.8M iPhones and garnered nearly $76 billion in revenue during the 3-month holiday period. Read More

 

Apple’s Q1 2016 earnings: 74.8M iPhones, 16.1M iPads, $75.9B revenue

By Cody Lee on Jan 26, 2016

Apple on Tuesday released its earnings report for the first [fiscal] quarter of 2016. As most of you know, this was the iPhone-maker’s holiday quarter, where most consumer electronic companies—particularly Apple—tend to put up monster numbers. And of course Tim Cook and his team did not disappoint.

Once again, Apple has delivered a record-breaking first quarter. The company sold 74.8 million iPhones, up slightly from last year’s 74.5 million, and increased its revenue by more than $1 billion. Not all of the numbers are impressive though, as Mac sales are slightly down and iPad sales continue to tumble.

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Google paid Apple $1 billion in 2014 to be the default search engine on iOS

By Cody Lee on Jan 21, 2016

Google paid Apple $1 billion in 2014 to remain the default search engine on iOS, reports Bloomberg. The staggering number comes directly from a transcript of court proceedings in Oracle’s ongoing copyright lawsuit against Google, which stated that the search giant has an agreement with Apple that gives it a percentage of search revenue generated through iPhones and iPads. Read More

 

Tim Cook earned $10.3 million in 2015 as Apple’s CEO

By Cody Lee on Jan 6, 2016

Ever wonder how much it pays to be the CEO of one of the world’s largest companies? About $10 million. On Wednesday, Apple submitted a new SEC filing showing that Tim Cook’s total compensation for fiscal 2015 was $10,281,327.

Broken down, Cook received $2 million in base salary, $8 million in non-equity compensation, and $280K in “other” compensation. Note that this doesn’t include the $50+ million in awarded Apple stock that vested for Cook this year. Read More

 

15 interesting points from Apple’s Q4 2015 earnings call

By Cody Lee on Oct 27, 2015

Apple announced its financial results for its fiscal fourth quarter of 2015 this afternoon, and the numbers are pretty solid. The company sold 48M iPhones and earned $51.5B in revenue, handily beating numbers from last year but falling short of Wall Street’s expectations.

We’ve just finished up the conference call, where Tim Cook and CFO Luca Maestri discussed Apple’s performance over the three-month period, and offered up some insights into its future. And as usual, we’ve rounded up the 15 most interesting points from the call below. Read More

 

Apple’s Q4 2015 earnings: 48.05M iPhones, 9.88M iPads, $51.5B revenue

By Cody Lee on Oct 27, 2015

Apple on Tuesday posted its [fiscal] fourth quarter earnings for 2015, offering a look at its performance over the past 3 months. The company shattered most of its sales figures from the same year-ago quarter, but came in under Wall Street expectations in the most important category: iPhone sales.

Analysts were expecting Apple to sell 48.5 million smartphones during Q4, but it fell a bit short at 48.05 million. And although market watchers anticipated lower-than-last-year iPad numbers, the firm came in under tablet sales projections as well. Keep reading for a full breakdown of the numbers.

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Verizon raising price of grandfathered unlimited data plans by $20 in November

By Cody Lee on Oct 8, 2015

Verizon on Thursday announced that it will soon be raising the price on grandfathered unlimited data plans by $20. As noted by CNET, this will bring the monthly price tag of unlimited data to $49.99 per month, which is in addition to the standard talk and text plan, and the change is set to take place in November.

The amount of people affected by this move should be relatively small. Verizon says that less than 1% of its 100+ million subscriber base still has an unlimited plan, and those that do still have one and are currently under contract from a previous phone purchase won’t likely see the price hike until the contract expires. Read More

 

Apple announces iPhone Upgrade Program: get a new iPhone every year starting at $32/month

By Cody Lee on Sep 9, 2015

Alongside its new iPhone 6s and 6s Plus, Apple on Wednesday announced the iPhone Upgrade Program. It’s an in-house upgrade program, similar to the installment plans carriers offer, which allows you to get a new iPhone every year for a monthly fee. Read More

 

iPad Pro starts at $799, available in November

By Cody Lee on Sep 9, 2015

Apple just took the wraps off of its long rumored, 12.9-inch iPad Pr. As expected, the device is incredibly powerful and features two unique (and sold-separately) accessories: a smart keyboard cover and a pressure-sensative stylus it’s calling the Apple Pencil.

For those wondering when you’ll be able to grab one of the new iPads, and how much it’s going to cost you, Apple just announced that the tablet will be available in November, with a starting price of $799 for the entry-level model, which features 32GB of storage. Read More

 

Judge green-lights $415M settlement in Apple, Google anti-poaching lawsuit

By Cody Lee on Sep 3, 2015

US District Judge Lucy Koh handed down final approval late Wednesday for a settlement between Apple, Google, Adobe and Intel, and their former employees. The payout is said to be worth around $415 million, and should effectively end the long-running Silicon Valley anti-poaching suit.

For context, in 2011, employees of the aforementioned tech firms filed a class action lawsuit against the companies for anti-competitive labor practices. The suit alleged the firms conspired to avoid hiring each other’s workers in an effort to curtail salaries, costing workers $3 billion in wages. Read More

 

Apple Pay adds support for 18 new US banks and credit unions

By Cody Lee on Sep 2, 2015

Apple on Wednesday added 18 new banks and credit unions to the growing list of Apple Pay-supporting issuers in the United States. With these additions, Apple Pay is now compatible with more than 450 financial institutions nationwide.

Launched in October of last year, Apple Pay is a mobile payment service that allows users to pay for goods and services using their iPhone or Apple Watch. It’s accepted at hundreds of thousands of retailers and restaurants around the country. Read More

 

Apple teams up with PayAnywhere for new Apple Pay card reader

By Cody Lee on Aug 27, 2015

Apple on Thursday announced that it has teamed up with payment service PayAnywhere on a new mobile NFC card reader. It will attach to iOS devices, and support both traditional credit cards and those stored within Apple Pay.

The reader, which will be available exclusively in Apple Stores in September, will open the door for smaller businesses to begin supporting Apple Pay. PayAnywhere is easy to setup and there are no monthly fees to worry about. Read More

 

Tim Cook says iPhone activations in China growing as $AAPL stock falls below $100

By Christian Zibreg on Aug 24, 2015

Apple CEO Tim Cook made a rare move today by responding to an email from CNBC’s Jim Cramer. Cook’s letter, a copy of which was obtained by Business Insider, addresses the company’s quarter so far and basically says that everything’s fine with Apple’s business and performance in China.

Apple’s stock has been declining since the company’s June quarter earnings showed iPhone sales coming slightly below investors’ expectations. This morning, $AAPL fell below $100 amid bigger stock market woes as most indices are in the red today. Read More

 

Apple Pay adds support for 18 new banks and credit unions

By Cody Lee on Aug 18, 2015

Apple on Tuesday added 18 new banks and credit unions to the growing list of Apple Pay-supporting issuers in the United States. With these additions, Apple Pay is now supported by more than 400 financial institutions nationwide.

Launched in October of last year, Apple Pay is a mobile payment service that allows users to pay for goods and services using iPhone or Apple Watch. It’s accepted at hundreds of thousands of retailers and restaurants around the country. Read More

 

Square Cash app updated to allow you to send money via Apple Watch

By Cody Lee on Aug 18, 2015

Square updated its Square Cash mobile app today, bringing the iOS client to version 2.8. The release brings about full support for the Apple Watch, allowing users to send money to your friends, family or anyone nearby with just a few simple taps.

For those unfamiliar with Square Cash, it’s pitched as one of the easiest ways to send and receive money. It’s free for consumers and setup only takes a minute to link up a credit or debit card. Plus, all transactions are protected by 128-bit encryption. Read More

 

Apple buys huge development site in San Jose for $138 million

By Cody Lee on Aug 3, 2015

Apple has purchased a massive development site in North San Jose in a blockbuster real estate transaction, reports the Silicon Valley Business Journal. The move comes just weeks after the company leased nearly 300,000-square-feet of office space in the city.

According to public records, Apple closed the deal with developer Lowe Enterprises’ for its so-called “n1 Campus” last week. It paid around $138 million for a roughly 43-acre development site, which has been approved for up to 2.8 million square feet of office space. Read More

 

Apple’s Q3 2015 earnings: 47.5M iPhones, 10.9M iPads, $49.6B revenue

By Cody Lee on Jul 21, 2015

Apple has posted its third quarter earnings report for 2015 this afternoon, and says it has broken its own record for the three-month period. The company earned a net profit of $10.7 billion on $49.6 billion in revenue.

That money comes from strong international hardware sales, which accounted for 64% of all revenue. Overall, Apple moved 47.5 million iPhones and 10.9 million iPads during its third quarter, as well as 4.8 million Macs. Read More

 
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