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$6.4 trillion, more than double their market capitalization when the pandemic started 16 months ago.
Apple has been fined 25 million Euros (US$ 27m) for deliberately slowing down older iPhone models without making it clear to consumers. The fine was imposed by France's competition and fraud watchdog DGCCRF, which said consumers were not warned.
Apple has rattled investors with news that its sales have been slowing, blaming economic weakness in China. In a surprise disclosure, the iPhone maker said it anticipated revenue of about US$ 84bn for the three months to 29 December. In November it forecast sales of at least US$ 89bn - a prediction that had already disappointed investors.
Apple and Samsung have finally settled a seven-year-long patent dispute, bringing to an end the long-running battle over the design of their rival smartphones. The terms were not disclosed.
iPhones might soon be made in the U.S., a result of Donald Trump’s win on Election Day, according to Nikkei Asian Review report. Hon Hai Precision Industry, also known as Foxconn Technology Group, a main Apple assembler, has allegedly been looking into the possibility of making iPhones in the United States, sources revealed to Nikkei.
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.
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.