Shares of Apple Inc. shed 2.81% Friday in a broad market downturn sparked by Brits voting to leave the European Union, or Brexit for short. The selloff was part of a general panic among investors concerned about what Brexit will do to the global economy.
As if cued to prove Carl Icahn's worries about Apple's business in China, the company lost a trademark battle with a bag maker over "IPHONE" in that country. A Chinese court ruled that even though Apple filed its trademark several years before Chinese company Xintong Tiandi did, Apple didn't start selling its iPhone until later, so whatevs. Bryan Chaffin explains.
Carl Icahn told CNBC Thursday that he sold his considerable stake in Apple Inc.—some 0.8 percent of shares at his height—on concerns about Apple's business in China, though it might be more accurate to characterize it as concerns that China's government could have a deleterious affect on Apple's business in that market. Bryan Chaffin isn't always a fan of Mr. Icahn's, but in this instance, the mogul isn't wrong.
In every Apple earnings conference call with analysts, there are a range of questions from good to bad. Sometimes worse. And sometimes most of them are just bad. But in Tuesday's call for Apple's second fiscal quarter of 2016, two analysts stood out for Bryan Chaffin as the ones who asked both the best and and worst questions.
Tim Cook was working hard to sell the message that Apple is doing well despite turning in a "challenging" quarter during his quarterly conference call with analysts. CFO Luca Maestri even sounded apologetic. Bryan Chaffin walks us through why he found that interesting.
Apple Inc. missed Wall Street consensus estimates with its March quarter results, missing earnings per share by 5 percent, and missing both iPhone and Mac estimates, as well. The company also announced that it was raising its dividend by 10 percent to US$0.57 per share.
Apple will host its 2016 second fiscal quarter earnings conference call this afternoon after the market closes at about 5PM eastern time. Analysts will be watching closely to see how many iPhone sales the company reports, and to see if this will mark the first quarterly decline in revenue since 2003. The Mac Observer will be here with our as-it-happens coverage and analysis.
Apple announced Thursday that it was delaying its quarterly conference call until Tuesday, April 26th, 2016. The decision to delay the announcement by one day was made to allow people to attend the memorial service for Bill Campbell, a former Apple board member and advisor to the late Steve Jobs and other Silicon Valley execs. Mr. Campbell passed away on Monday, April 18th.
Shareholders of Apple, Inc. largely backed Apple and CEO Tim Cook in the company's decision to fight a court order to create tools that would bypass security measures in iOS. According to The New York Times, Apple's annual shareholder meeting Friday was, "a striking scene of support for Mr. Cook."
Apple has launched a new bond offering for US$12 billion, including $1.5 billion in 7-year "green" bonds. Green bonds are typically issued to back clean energy initiatives, and Apple said it would use the money to meet its goal of using only renewable energy in its corporate offices, retail stores and data centers in the U.S. The rest of the bond offering will go to bolster Apple's efforts to return money to shareholders.
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