Tim Cook talks succession, dividend distribution, and more at shareholder meeting
Tim Cook spoke at length regarding succession planning, divisent distribution, Apple Pay success, and more at Apple’s annual shareholder’s meeting today.
Finance
App Store to eclipse worldwide box office revenues sometime this year
App Store is poised to become bigger than Hollywood.
As Bitcoin surges, so does the Coinbase app in App Store
I wish I had the foresight to purchase a bunch of Bitcoins last year, when they were trading below $300.
Apple denies reports that it moved untaxed offshore cash to the Channel Island of Jersey
The Paradise Papers hint at Apple’s alleged new structure that’d enable it to continue avoiding billions in taxes.
Apple Pay support in Spain extended to CaixaBank and ImaginBank
Credit cards issued by Spain’s local bank CaixaBank and its mobile banking brand ImaginBank can now be used with Apple Pay.
Apple to report June quarter earnings on August 1
Apple is scheduled to deliver financial results pertaining to its quarter ended June 30 on Tuesday, August 1.
Apple has never been more valuable
Apple, the most-valuable publicly traded company, is now just over $200 billion away from becoming the world’s first trillion-dollar company.
Apple-backed Didi Chuxing raises $5.5+ billion from investors for international expansion
An Apple-backed ride-hailing service has raised more than $5.5 billion from investors in the latest round of financing, raising its market valuation to about $50 billion.
Chinese ride-hailing service Didi to receive $5B in funding for automated driving expansion
The funding could lift Didi’s valuation to $50 billion, beating handset maker Xiaomi to become China’s top startup and the most valuable startup in the world after Uber.
iPhone manufacture Foxconn reports highest-ever holiday quarter net profit
Hon Hai Precision Industry, also known as Foxconn Technology Group, counts Apple as its key client. Foxconn assembles iPhones and their Apple contract accounts for more than half of the Taiwanese company’s earnings. Yesterday, Foxconn reported both its highest-ever holiday quarter net profit and highest-ever gross margin since first-quarter 2013.
Warren Buffett’s stake in Apple now twice as large, reaches more than $18 billion
Berkshire Hathaway’s position in Apple is now more than twice as large as previously disclosed at $18.2 billion, investment tycoon Warren Buffett told CNBC in an interview on Monday. At the end of last year, Berkshire Hathaway owned 61 million Apple shares, worth $7 billion at the time.
Buffet’s annual letter to shareholders, which included a regulatory disclosure of its long positions, has revealed that his conglomerate had purchased about 120 million shares of Apple in 2017.
Apple’s stock surges to its highest price ever amid growing optimism over iPhone 8
Apple is breaking records—the company’s stock price has surged to an all-time intraday high, trading as high as $134.88 today and having surpassed the previous all-time intraday high of $134.54 set on April 28, 2015. The current stock price gives the Cupertino company a market capitalization of nearly $710 billion, the largest market valuation for a publicly traded American company.
According to MarketWatch, just yesterday the stock had closed at a record $133.00, passing the previous record set two years earlier.