Apple Inc. reached a market value of US$ 3 trillion (twelve zeroes) during intraday trading on Monday, when its share price hit US$ 182,86. Although the milestone is mainly symbolic, (Wednesday shares were down to US$ 175) it shows investors remain bullish on Apple stock.
Tech companies Apple, Microsoft, and Google owner Alphabet reported on Tuesday combined profits of more than US$ 50 billion in the second quarter of the year. The three companies currently have a combined market value of US$6.4 trillion, more than double their market capitalization when the pandemic started 16 months ago.
US President Donald Trump said on Sunday that he has spoken with Apple's chief executive Tim Cook about the impact of US tariffs on Chinese imports as well as competition from South Korean company Samsung.
Facebook Inc has been paying outside contractors to transcribe audio clips from users of its services, Bloomberg reported on Tuesday, citing people familiar with the matter. The company confirmed that it had been transcribing users' audio, and said it was no longer doing so, Bloomberg reported.
The public dispute in the United States between the Justice Department and Apple continued Monday as the tech giant called on the government to withdraw its demand for help in unlocking a phone used by one of the shooters in December’s terrorist attacks in San Bernardino, Calif., and instead let a commission of experts discuss the issue.
The United States tech-heavy Nasdaq index has closed at a record high, surpassing a level it last reached in 2000 at the height of the dot com bubble. The index gained 20.89 points to close at 5,056.06, besting the high of 5,048.62 it hit on 10 March 2000.
Apple Inc, which lost the rights to its iPhone trademark in Brazil this week, is challenging the ruling by Brazil's copyright regulator to prevent local firm Gradiente Eletronica SA from using the iphone brand name.
Apple Inc. scored a sweeping legal victory over Samsung as a US jury found the Korean company had copied critical features of the hugely popular iPhone and iPad and awarded the US company 1.051 billion dollars in damages.