Investor Carl Icahn announced via a tweet on Tuesday that he had bought another $500 million worth of Apple stock, raising his overall ownership in the company to about $4.1 billion. Icahn's disclosure comes on the same day that traders dumped Apple shares following the company's disappointing quarterly financial results.
But that's exactly what happened late Monday, when the Cupertino, Calif., company reported selling 51 million iPhones and 26 million iPads. Champagne time, right? Well, Wall Street wasn't in the mood, as it was looking for sales of 55 million iPhones and a rosier revenue forecast for the current quarter.
Shares dropped 7.6 percent to $508.60 in recent trading Tuesday, after falling as much as 8 percent late Monday.
Call it a consequence of the Apple halo effect, expectations that are set … Read more
Apple has won another patent related to a so-called "iPen" stylus that goes beyond simply drawing on a touch display.
The US Patent and Trademark Office on Tuesday awarded Apple a patent dubbed "Stylus orientation detection," which centers around the "orientation of a stylus relative to a contacting surface."
The patent, which was earlier discovered by Patently Apple, envisions a device that comes with an orientation sensor that can determine the direction and type of scribble on a screen. Based on that, the device produces a line design that would mimic such an orientation … Read more
But asked during the conference call discussing its fiscal first-quarter earnings whether Apple was still a growth company, Cook displayed momentary frustration that Apple's message wasn't getting through.
"It's important to listen to what Peter said about guidance," Cook said, referring to CFO Peter Oppenheimer, who offered guidance for the March quarter that was weaker than forecast.
Apple now expects … Read more
"It's been an incredible start," CEO Tim Cook said during the conference call Monday following Apple's fiscal first-quarter.
Although investors punished Apple's stock in after-hours trading, management has a clear incentive presenting the strong start and the promising prospects following the completion of the China Mobile deal. With about 760 million subscribers, China Mobile has more customers than any other carrier in the world, a stat that Cook said helped constitute a "watershed … Read more
Apple Chief Financial Officer Peter Oppenheimer said 80 percent of all iOS devices have now upgraded to iOS 7.
Oppenheimer made the comment on a conference call to analysts on Monday following its fiscal first-quarter results.
The latest version of iOS was met with mixed reactions due to the radical changes of the design, which opts for a more flat, minimalist view favored by Apple design guru Jony Ive.
That so many iOS devices are on iOS 7 makes it easier for developers to create apps for the platform. It's one of the major advantages touted by Apple.
Apple on Monday reported record revenue for the fiscal first quarter as it sold more iPhones and iPads than ever. However, the company sold fewer iPhones than Wall Street analysts expected, and it also projected weak revenue for the current period.
"Our objective has always been to make the best and not the most," CEO Tim Cook said during a conference call with analysts. "We feel like we're doing that."
The Cupertino, Calif., electronics giant said it sold a record 51 million iPhones, but analysts had expected 55 … Read more
Apple already lets users buy music, books, and apps through an iTunes account. But the tech giant has plans to expand its mobile-payment efforts, according to a report by The Wall Street Journal.
Citing anonymous sources, the report says Apple is exploring moving beyond the realm of digital goods and letting users pay for physical goods and services -- such as clothes or a taxi ride -- with an iTunes account. The Journal says Eddy Cue, the Apple executive in charge of iTunes and the App Store, has already met with industry executives to discuss the topic.
The company has … Read more
The US Department of Justice on Friday argued that a US court didn't abuse its power by naming an external monitor to oversee Apple's compliance with antitrust law and that an appeals court should deny Apple's motions to get rid of the monitor.
A federal appeals court on Tuesday had granted Apple's motion to hold off on having an external monitor to make sure it complies with antitrust laws, saying it would give Apple a reprieve until a panel can examine the issue.
The government, in an opposition filing Friday, said the court acted within its … Read more
Why all the secrecy, Apple? Because you, Jane and John Q. Public, love surprises.
That's the essence of the response by Apple CEO Tim Cook to questioning from a curious ABC News reporter.
Cook recently sat down for an interview with ABC's David Muir for a segment that airs Friday evening on "World News with Diane Sawyer," on the occasion of the 30th anniversary of the Macintosh's introduction to the world. A brief except of that interview popped up Friday morning on ABC's "Good Morning America." Along with Cook in the excerpt … Read more