Archive for the ‘Tim Cook’ Category

Apple expands Racial Equity and Justice Initiative with new programs

January 13th, 2021

Earlier this week, Apple CEO Tim Cook promised a “major” announcement today, and now it has hit the wires: Apple has announced new programs in its Racial Equity and Justice Initiative, or REJI.

Here are the specific programs being launched or expanded, according to Apple’s press release this morning:

These forward-looking and comprehensive efforts include the Propel Center, a first-of-its-kind global innovation and learning hub for Historically Black Colleges and Universities (HBCUs); an Apple Developer Academy to support coding and tech education for students in Detroit; and venture capital funding for Black and Brown entrepreneurs.

Apple launched its Racial Equity and Justice Initiative last June. CEO Tim Cook appointed Apple’s VP of Environmental Policy and Social Initiatives, Lisa Jackson, to head up the program.

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Musk says Apple passed on Tesla acquisition three years ago

December 23rd, 2020
Robotic arms surround an incomplete sedan.

Enlarge / A Tesla Model 3 is seen in the general assembly line at the Tesla factory in Fremont, California, in July 2018. (credit: Mason Trinca for The Washington Post via Getty Images)

A few years ago, Elon Musk tried to interest Apple CEO Tim Cook in buying Tesla, Musk said in a Tuesday tweet. "He refused to take the meeting," Musk added.

According to Musk, this occurred in the "darkest days of the Model 3 program"—most likely sometime in late 2017 or early 2018. Musk recently revealed that at one point early in the Model 3 manufacturing process, Tesla was "about a month" away from bankruptcy.

"The Model 3 ramp was extreme stress & pain for a long time — from mid 2017 to mid 2019," Musk wrote in November. "Production & logistics hell."

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Apple earnings show strong iPad and Mac sales can’t make up for the iPhone

October 29th, 2020
An older man in a white polo shirt flashes a peace sign while walking outdoors.

Enlarge / Apple CEO Tim Cook. (credit: Patrick T. Fallon/Bloomberg via Getty Images)

Apple announced its fourth-quarter earnings today after the bell, and it was something of a strange quarter because, unlike some previous years (including last year), this quarter's numbers did not include an iPhone launch. The iPhone 12's various models ship in October and November instead of September this year.

CEO Tim Cook proudly announced double-digit YOY growth in all product categories besides iPhone on the call, but the iPhone is important: Apple's total revenue was up only 1 percent year-over-year, with iPhone revenue down almost 21 percent.

While the iPhone didn't help push up the bottom line, Apple did launch other products during the period, including the redesigned iPad Air and two Apple Watches: the Apple Watch Series 6 and the Apple Watch SE. iPad revenue was up a substantial 46 percent YOY (it totaled $6.8 billion), and Mac revenue was also strong at $9 billion, or 28 percent more than the same quarter last year.

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Posted in apple, Apple TV, Business, earnings, iPad Air, iphone, iPhone 12, iPhone 12 Pro, Stocks, Tech, Ted Lasso, Tim Cook | Comments (0)

“This is a very dangerous situation:” Big Tech’s day on the Hill

July 30th, 2020
Amazon CEO Jeff Bezos testifies (remotely) before the House Judiciary Subcommittee on Antitrust, Commercial and Administrative Law hearing on "Online Platforms and Market Power" in the Rayburn House office Building on Capitol Hill in Washington, DC on July 29, 2020.

Enlarge / Amazon CEO Jeff Bezos testifies (remotely) before the House Judiciary Subcommittee on Antitrust, Commercial and Administrative Law hearing on "Online Platforms and Market Power" in the Rayburn House office Building on Capitol Hill in Washington, DC on July 29, 2020. (credit: Graeme Jennings - Pool | AFP | Getty Images)

A bevy of tech's biggest titans—Alphabet CEO Sundar Pichai, Amazon CEO Jeff Bezos, Apple CEO Tim Cook, and Facebook CEO Mark Zuckerberg—all took to their remote offices Wednesday to dial into a hotly anticipated Congressional hearing, the latest part of an in-depth investigation into their firms' behavior that began more than a year ago.

The almost six-hour hearing was nominally convened to talk about antitrust enforcement, and it had two core questions at its heart. First: do the biggest, globe-spanning US tech companies have too much power in the market? And second: did they come by the power they do have honestly, or did they somehow cheat to get it?

House Antitrust Subcommittee Chairman Rep. David Cicilline (D-R.I.) focused his opening remarks on how bipartisan the investigation process has been to date before sketching out his belief that all four companies present have behaved anticompetitively, become monopolies, and caused harm both to consumers and the entire democratic project writ large.

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Posted in Alphabet, amazon, antitrust, apple, Biz & IT, Competition, congress, Facebook, google, investigations, Jeff Bezos, Mark Zuckerberg, Policy, Sundar Pichai, Tim Cook | Comments (0)

iPhone looters find devices disabled, with a warning they’re being tracked

June 3rd, 2020
Another view of the iPhone 11 Pro and iPhone 11 Pro Max.

Enlarge / The iPhone 11 Pro and iPhone 11 Pro Max. (credit: Samuel Axon)

Along with other retailers big and small, Apple Stores have been subject to looting by opportunists amid the ongoing protests around the United States. In response, Apple has again closed all of its stores in the US. Stores had only recently reopened after closures related to the COVID-19 pandemic.

But looters who brought stolen iPhones home, or people who end up buying those phones in person-to-person transactions, are in for what may be a surprise: it appears that the stolen iPhones don't work and may even be tracked by Apple or authorities. This could pose a challenge for regular consumers who buy second-hand iPhones—as well as repair shops—in the coming weeks and months.

Individuals with iPhones allegedly looted from Apple stores found that the phones were automatically disabled and had messages like the following (via Twitter) displayed on-screen:

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In an unusual investor call, Apple reports flat quarterly earnings amid COVID-19

April 30th, 2020
A serious man in a business suit.

Enlarge / Apple CEO Tim Cook. (credit: Drew Angerer/Getty Images)

Despite disruptions to both supply and demand caused by the global COVID-19 pandemic, Apple posted $58.3 billion in revenue in its second quarter, eking out 1 percent growth over last year's second quarter.

This beat some recent expectations by investors, but it falls well behind the $63-67 billion guidance for the quarter the company initial gave before the coronavirus' effects were fully felt. Apple's retail stores have been closed around much of the world, and for a period of time earlier this year, its ability to assemble iPhones and other products was hampered as the virus first spread in China.

CEO Tim Cook spoke optimistically about the company's long-term prospects on a call with investors today, but in a break with common practice, Apple did not provide guidance for the next quarter, citing the inability to predict the pandemic's future impact. "We have great confidence in the long-term of our business," Cook said. "In the short-term, it's hard to see out the windshield to know what the next 60 days look like, and so we're not giving guidance because of that lack of visibility and uncertainty."

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Posted in apple, coronavirus, COVID-19, earnings, Stock Market, Tech, Tim Cook | Comments (0)

No, Apple isn’t opening a new manufacturing plant in Texas

November 21st, 2019
Donald Trump speaks at Apple's Mac Pro manufacturing facility in Austin, Texas.

Enlarge / Donald Trump speaks at Apple's Mac Pro manufacturing facility in Austin, Texas. (credit: MANDEL NGAN / Getty)

President Donald Trump toured Apple's Mac Pro manufacturing facility in Austin, Texas, with CEO Tim Cook on Wednesday.

"We're seeing the beginning of a very powerful and important plant," Trump said during the visit. "I want to see Apple building plants in the United States. That's what's happening."

Trump echoed that theme in a tweet after the tour. "Today I opened a major Apple manufacturing plant in Texas that will bring high paying jobs back to America," he wrote.

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Posted in apple, Donald Trump, Mac Pro, Policy, tariffs, Texas, Tim Cook | Comments (0)

Apple earnings Q4 2019: Tim Cook says health will be what Apple is remembered for

October 30th, 2019
The new Apple Watch Series 5.

Enlarge / The Apple Watch Series 5 has an always-on display thanks to new and improved display internals. (credit: Valentina Palladino)

Apple's quarterly earnings calls have fallen into a predictable pattern for the past year or two: iPhone revenues are declining year-over-year, and the Mac mostly remains stagnant, but every other one of Apple's businesses—wearables and services most notably—are ballooning.

That was the case again with Apple's Q4 2019 earnings report today; iPhones were down, but the company posted its highest revenue ever in a September quarter thanks to good performance from services like the App Store, AppleCare+, and Apple Pay, as well as strong iPad and Apple Watch sales. Total revenue was $64 billion.

Apple revealed during the proceedings that the iPhone 11 (sans Pro) is now its best-selling phone, and that iPhone revenue was $33 billion—a 9% decline over the same quarter the previous fiscal year, albeit an improvement over the 15% decline the company saw in the previous three quarters this year. (That improvement is very likely accounted for by the launch of the iPhone 11 and its ilk mid-September, just before the quarter ended.)

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Report describing Jony Ive’s Apple exit gains a sharp response from Tim Cook

July 1st, 2019
A man in a tee-shirt sits onstage.

Enlarge / Jony Ive speaks onstage during the 2017 New Yorker TechFest in New York City. (credit: Brian Ach/Getty Images)

Yesterday, The Wall Street Journal published a report describing the years and events leading up to design chief Jony Ive's recently announced departure. Among other things, it claimed Ive had become increasingly disengaged from the company and its design teams after Steve Jobs' death, in part because of his frustration with a new, emerging Apple leadership that focused more on operations than design.

In the wake of that report, Apple CEO Tim Cook—who had allegedly frustrated Ive with his lack of interest in product design, the story's sources claimed—emailed NBC News and MSNBC Senior Media Reporter Dylan Byers calling the story "absurd." Cook said its "conclusions just don't match with reality" and claimed that it "distorts" the events described. Byers then claimed on Twitter that a Wall Street Journal spokesperson told him "the paper stands by its report."

The story "is based on conversations over more than a year with people who worked with Mr. Ive, as well as people close to Apple’s leadership," the Journal says. It claims that Ive clashed with other members of the company's leadership over the positioning of the Apple Watch, which he saw as a fashion-focused product. Meanwhile, unnamed leaders saw it as an extension of the iPhone, and they came to feel that the company had lost its focused on design as key senior roles were stacked with operations and business-focused personnel.

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Apple sets sights on services as iPhone revenue continues to fall

April 30th, 2019
The Apple logo takes corporeal form outside an Apple store.

Enlarge (credit: Andrew / Flickr)

Today, Apple shared its fiscal second-quarter results with shareholders. After a tumultuous first quarter that saw CEO Tim Cook revise the company's guidance weeks before the earnings report was made public, investors and analysts were looking for Apple to divulge some good news—particularly surrounding iPhone sales, its services business, and the situation in China.

Apple somewhat delivered on those fronts, but overall, its Q2 2019 earnings report is a mixed bag. The company made $58 billion in revenue this quarter, which is on the higher end of its expected revenue spectrum ($55 to $59 billion), but down 5 percent year-over-year. iPhone sales made up $31 billion of that total amount, down from $37.5 billion during the same quarter in 2018.

Apple stock jumped over 4 percent after the earnings report was released, pushing the company close to a $1 trillion valuation.

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