Apple executives and directors have been displaying restraint, as well. Company insiders have sold only a quarter of the volume of shares they did by this point last year, 310,370 shares compared with 1.2 million shares in 2017. The dollar value has slowed only to a third, however, to $55.3 million from $165.2 million, due to stock-price appreciation. In all of 2017, Apple insiders sold 1.9 million shares for $271.8 million. A number of insiders haven't sold any stock in 2018. Chief Executive Tim Cook by this time last year had sold 138,570 shares for $17 million, and for all of 2017 sold 407,200 shares for $60 million. He hasn't parted with any of his shares so far this year, however. Cook has
Trade Apple, don't give up on it. So Apple takes a 1.3% hit on trade-related news, while the S&P 500 walks back a more pedestrian 0.7%. Even the Dow Jones Industrial Average , thought to be highly exposed to this type of threat, gave up (-0.
In the months preceding WWDC 2017, Tim Cook made a number of statements highlighting his enthusiasm for augmented reality. Cook's remarks were somewhat unusual given Apple's penchant to not say much of anything regarding potentially new and exciting technologies. Cook, though, couldn't help but extol the benefits of AR, even going so far as to say in February 2017 that AR is as big of a breakthrough as the smartphone. "The smartphone is for everyone," Cook explained. "We don’t have to think the iPhone is about a certain demographic, or country or vertical market: it’s for everyone. I think AR is that big, it’s huge. I get excited because of the things that could be done that could improve a lot of lives. And be entertaining. I view AR like I view the silicon here in my iPhone, it’s not a product per se, it’s a core technology." That said, it wasn't terribly surprising when Apple at WWDC last year introduced ARKit, a series of tools which helps developers create engaging and immersive augmented reality experiences. At WWDC 2018, Apple doubled down on AR with the introduction of ARKit 2, thus enabling developer to create even more engaging user experiences. In light of all that, a new investor note from Bank of America analyst Wamsi Mohan (via CNBC) relays that revenue from augmented reality-based apps could prove to be a huge money-maker for Apple given that such apps would rightly warrant a premium. Mohan says the "revenue opportunity" is for $6 billion to $8 billion in additional revenue from now until 2020 with $1 billion of that coming from AR apps and the rest coming from increased iPhone sales due to the new technology. If Apple were to introduce AR-specific eyewear, which is not factored into the bank’s current model, the revenue upside could be as much as $11 billion, he said. Bank of America currently has a price target of $230 on Apple shares.
Republicans on the House Energy and Commerce Committee slipped an interesting question in a letter they sent Monday to Apple CEO Tim Cook that was otherwise focused largely on privacy-related matters. This particular question was partly in response to the strong public stance Cook has taken in favor of protecting user data and privacy as compared to other Silicon Valley giants that have, well, been not so good at that. Here's the gist of what those House Republicans asked Cook in their letter: Apple users have consistently had access to apps through the App Store "that you have highlighted as contradictory to Apple's values, including Google and Facebook apps." The implication being -- Tim, ah, what gives? They also wanted to know a lot more, such as about data collection practices and the like. "We write today to learn more about the capabilities of Apple's iPhone devices, in particular the collection and use of consumer data and microphone functionality of iPhones," the letter to Cook reads (and you can read the full version here). "Recent reports have indicated that consumer data gathered through cell phones, including location information and recordings of users, may be used in ways that consumers do not expect." About the App Store question, though -- Tim doesn't always get pressed on that point. about what would cause Apple to ever kick something like Facebook out of the store. So it will be interesting to see what he comes up with in response. A stone cold comment from Tim in response to Facebook's recent troubles, of course, scored a slew of headlines when he was asked what he would do if he were in Mark Zuckerberg's position. I wouldn't be in that position, Tim countered. The congressmen, meanwhile, are wondering why Facebook occupies a position in the app store Tim's company oversees. To be sure, the congressmen saved their most pointed questions for a separate letter that went out to Larry Page, CEO of Google parent company Alphabet. The focus of both letters was roughly the same -- it zeroed in on how third-party services access and handle data from both Apple and Google users. The letter to Page can be read in full here. And both executives were asked to answer and return all of the questions by July 23. "In June 2017," lawmakers wrote to Page, "Google announced changes to Gmail that would halt scanning the contents of a user's email to personalize advertisements to 'keep privacy and security paramount.' Last week, reports surfaced that in spite of this policy change, Google still permitted third parties to access the contents of users' emails, including message text, email signatures and receipt data, to personalize content. "In the context of free services offered by third parties, these practices raise questions about how representations made by a platform are carried out in practice."
As the CEO of one of the world’s most valuable companies, Tim Cook has a pretty decent platform for sharing leadership advice. Speaking at Fortune’s CEO Initiative on Monday, Cook said he doesn't want Apple to be "another talking head." But, as a leader, he said he believes he has a responsibility to speak out for both the company's values and the values of those it employs. If people have values, then companies should," Cook told the audience at the event in San Francisco .
Facebook has previously rejected Cook's characterization of its business model. Sheryl Sandberg has said Facebook is proud of its ad-funded product which is available for free. Apple CEO Tim Cook has renewed his thinly-disguised attack on Facebook, taking the opportunity to again criticise companies that hoard people's data.
Apple Chief Executive Tim Cook ruminated on privacy, immigration, and technology addiction on a day when a growing trade war with China sent tech stocks reeling. Cook did not touch on China during a 30-minute interview Monday night in San Francisco at a Fortune conference on companies doing social good. But he outlined the core values of Apple that he increasingly has articulated, on education, privacy, human rights, immigration, and the environment. "Apple has always been about changing the world," he said. "You don't do that by staying quiet. There is no formula for when you speak or don't." Last week, he called the separation of children from their parents as part of a U.S. immigration policy "inhumane,"
Tim Cook has a message for short-term investors: Saddle up for the long haul, or consider moving on. At an event Monday night in San Francisco, the Apple Inc. (AAPL) CEO decried the 90-day reporting cycle as "remnant of a different day and time," and suggested that short-term investors should take their money elsewhere if they're in it for a quick buck. "As CEO, I'm going to take the heat and tell my investors: We welcome you but if you're short term, maybe this isn't for you," Cook said at the Fortune CEO Initiative. "If you're making decisions based on the short-term investors, you're making a terrible decision...the CEO and the board must be willing to take the turbulence, with the activists
Apple needs to break into another big market to keep growing, Guggenheim analysts believe. They think that market should be cars, which has a total addressable market of more than $2 trillion. Apple has a lot of strengths that could be beneficial to building an electric car, including hardware and software expertise. Apple's leadership has signaled its next big source of revenue is its online services business, with a goal to sell over $50 billion in iCloud, Apple Music, and other subscriptions by 2021. In fact, Apple is preparing to launch a new bundle with news, music, and video, as soon as next year, according to CNN. One bank, however, sees Apple's future more closely associated with another
Aiming to reduce aircraft noise for communities that live near airports, NASA has successfully tested new noise reduction technologies on a series of Acoustic Research Measurement (ARM) flight, and managed to cut airframe noise during landing by more than 70 per cent. The ARM flights, which concluded in May, at NASA's Armstrong Flight Research Center in California, tested technology to address airframe noise, or noise that is produced by non-propulsive parts of the aircraft, during landing. NASA successfully combined several technologies including Landing Gear Noise Reduction, landing gear cavity treatments, and the Adaptive Compliant Trailing Edge flexible wing flap, on various airframe components
The largest coral reef system in the Northern Hemisphere, the Belize Barrier Reef, was added to UNESCO's list of World Heritage in Danger in 2009 over fears of "mangrove cutting and excessive development in the property." The Belizean government responded to the threat by making a "transformational shift," UNESCO's marine program coordinator, Fanny Douvere, told The New York Times, and its hard work paid off. This week, the reef was removed from UNESCO's list of endangered sites. Conservationists credit the Belizean government for suspending offshore drilling and implementing new protections for the mangrove forests.