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Italy Investigates Apple's Hidden Billion
November 14, 2013
Italian authorities are investigating Apple for allegedly hiding 1 billion euros -- about $1.34 billion -- from the taxman. Prosecutors in Milan claim that Apple didn't declare more than $250 million in 2010 and more than $1 billion in 2011. Apple's Italian subsidiary booked some profits with an Irish subsidiary, thereby lowering its taxable income in Italy, according to Italian sources.
Prophets of Doom Prod Apple to Reveal Its True Self
November 07, 2013
Apple has delivered a delightful mix of products and profits this year, all the while facing skepticism from various quarters over its strategies, plans and abilities to take over the world -- especially the part with low-end, cheap markets. Apple also has been caught up in the scrutiny of tech companies that work with various law enforcement agencies to turn over customer data.
iTunes Radio Could Take the Sting Out of Apple's Limp Quarter
October 29, 2013
Apple on Monday announced its fourth-quarter earnings for fiscal year 2013, including revenue of $37.5 billion and a net profit of $7.5 billion, or $8.26 per diluted share. In the year-ago quarter, the corresponding figures were revenue of $36 billion and net profit of $8.2 billion, or $8.67 per diluted share. Apple this week also revealed that it sold 33.8 million iPhones.
Tobacco Firm Burned for Running Ad in Kids' App
October 29, 2013
British American Tobacco issued an apology after an ad for its e-cigarette brand, Vype, popped up in an iPad app for children. The Vype banner appeared inside the "My Dog My Style HD" game and was spotted by author and educator Graham Brown-Martin, who took to Twitter with a screenshot of the kiddy cig advertisement. British American Tobacco pulled its online advertising for Vype and issued an apology.
Apple Starts Serving Free Beer
October 28, 2013
Well we've had a few weeks of fun here in the Linux blogosphere dissecting Linux poll results, but last week brought those inwardly focused musings to an abrupt end. The cause? Yet another news flash from the outside world. The conversation was in full swing down at the blogosphere's Punchy Penguin when a turtleneck-clad stranger burst through the saloon's swinging doors.
Icahn Turns His Powers of Persuasion on Tim Cook
October 25, 2013
Carl Icahn turned his sights on Apple Wednesday, recommending the company buy back $150 billion in stock from the market. Apple stock is undervalued at the moment, making it an ideal time for a large repurchase of stock, Icahn reasoned in an open letter to Apple CEO Tim Cook posted on his new Investors Square Table website. Apple has a massive amount of cash on its balance sheet -- $147 billion.
iPhone Reveal Sends Apple Stock Reeling
September 11, 2013
Shares of Apple dropped more than 5 percent on Wednesday morning following the widely anticipated unveiling of the company's two new iPhone models the day before. Representing the steepest drop in the stock since April, the tumble was accompanied by a newly lowered "neutral" rating by Credit Suisse, UBS and Bank of America Merrill Lynch. The stock also fell an additional 2 percent on Tuesday.
Apple's Big Rollout: Yawns Today, Brawn Tomorrow?
September 11, 2013
Onward and upward, or so the executive suite at Apple is clearly hoping. Tuesday's rollout of the iPhone 5c and the iPhone 5s -- and their related features and design quirks -- came as little surprise to company watchers as Apple's product pipeline has long been prone to leaks and speculation.
Ramping Up Retail in the Run-Up to Release Season
August 28, 2013
Apple's retail operations can be counted among Steve Jobs' "babies"; the stores' slick design and sales techniques are legendary in the industry for their per-square-footage sales. In 2012, Apple retail store sales outpaced Tiffany's by 40 percent. Apple is in no danger of following in the footsteps of, say, J.C. Penney or Sears, but its retail operations have shown some worrisome signs of decay.
Icahn vs. Apple: When Did Extortion Become Legal?
August 19, 2013
What Carl Icahn has been doing with Dell -- and now with Apple -- is kind of like a protection racket. These were popular in the 1920s -- you paid the crime syndicate a fee if you wanted to say in business. I'm wondering if Icahn has found a legal way to extort money from companies in trouble. Icahn not only doesn't provide value for the "help" he gives -- he actually drains the firm's resources.
Apple Could Pay Staggering Price for E-Book Shenanigans
August 02, 2013
The U.S. Justice Department and 33 states' attorneys general have proposed remedies against Apple for its conviction on e-book price-fixing that could dry up a large portion of the company's revenue stream while benefiting Amazon and, possibly, Google. The proposed final judgment seeks to have Apple terminate contracts with the five codefendant publishers in the case.
Apple Searches Haystack for Product to Move the Needle
July 24, 2013
Apple's upcoming new products will be the key to the company's emergence from its current doldrums, CEO Tim Cook told analysts during its third-quarter earnings call Tuesday. Asked by Piper Jaffray analyst Gene Munster if there were any product categories big enough to move the growth needle for Apple, Cook responded: "We'll see, Gene. We're working up some stuff that we're really proud of."
iPhone Deal May Leave Verizon on the Hook for $14B
July 12, 2013
Verizon may owe Apple between $12 billion and $14 billion for not selling as many iPhones as it promised to this year, according to two analyst reports revealed Thursday. Verizon committed to buy $23.5 billion worth of iPhones this year, leading to a potential shortfall of $12 billion to $14 billion, warned Craig Moffett of Moffett Research.
WWDC 2013: All About Managing Expectations
June 12, 2013
There was no shortage of news coming out of Apple's annual Worldwide Developers Conference this week, including a glimpse at the next generation of iOS. On the hardware front, meanwhile, the company revealed it will launch a new desktop computer and a refreshed MacBook Air line. Then, of course, there was its new streaming radio application.
Apple Battles E-Book Charges
June 05, 2013
Apple's trial for alleged e-book price-fixing is under way, and the tech giant has said it is not going down without a fight. The suit, brought by the U.S. Department of Justice about a year ago, claims that Apple and five other major publishers engaged in a conspiracy to fix e-book pricing. The alleged conspiracy began in 2009, when Amazon released its Kindle.
Tim Cook's Lips Zipped on Apple's Next Big Thing
May 29, 2013
CEO Tim Cook took the stage for an interview at D11, reiterating his faith in Apple's direction without divulging any secrets or bold plans. Cook fielded questions about whether Apple has lost its touch recently, as it has been faced with a plunging stock price, increased competition from rivals, persistent patent and antitrust battles, and an investigation into its corporate tax policies.
Senators Piling on Apple's Taxes Are Missing the Point
May 23, 2013
So is Apple a tax-dodging evil company with a dark heart? No. The answer is no. However, Apple is certainly a corporation, and all corporations are driven first and foremost by profit -- no matter what the company says about the joy of making great products. Astoundingly passionate and driven individuals, who sometimes run corporations, might be driven by the joy of creation.
Cook Plays Defense Against Senators Over Apple's Taxes
May 22, 2013
Apple CEO Tim Cook defended his company's tax policies in Congress Tuesday, after the Senate released a report that condemned it for tax policies that used global subsidiaries to avoid paying billions in U.S. taxes. Apple dodged taxes on as much as $44 billion in foreign income from 2009 to 2012, the report alleges.
Apple's Cook Heads to Washington to Talk Taxes
May 17, 2013
Apple CEO Tim Cook is scheduled to appear before a U.S. Senate committee next week to answer questions about his company parking profits offshore. In a notice for the May 21 hearing, the Permanent Subcommittee on Investigations said "representatives of a multinational corporation" would be appearing at the event, but a witness list wouldn't be available until Friday.
A Bond Sale Today Keeps Apple's Taxman Away
May 01, 2013
A week after announcing its first drop in quarterly earnings in a decade, Apple is selling $17 billion in bonds to fund a $100 billion buyback program for its stakeholders. The sale will be the largest non-bank bond deal ever. The move was somewhat unexpected coming from a company with $145 billion in cash on hand and no debt, a rarity among tech companies.
The Tim Cook Earnings Show Needs an Edge
April 25, 2013
I admire Tim Cook's unflagging patience with investors and analysts during quarterly conference calls. However, I'm starting to wonder if his subtle digs and point-by-point comments are enough for a guy who's stuck on the biggest tech company stage in the world right now. I just wish he would conduct these calls while languidly sharpening a knife. In fact, I want the guy to pull out a freaking sword.
Apple's Mixed Earnings Bag Includes Stock Sweetener
April 24, 2013
For any company in the world, a quarter with revenues of $43.6 billion and profits of $9.5 billion would be cause for celebration. Unfortunately, Apple isn't any company. "Apple beat highly lowered expectations for the quarter," said Trip Chowdhry, managing director for equity research at Global Equities Research. Apple's numbers disappointed financial analysts.
Apple's Q1 Beats Wall Street, but Breaks a Profit Streak
April 24, 2013
Apple dominated the earnings roundup this week. Investors braced for a quarterly report that could determine whether the company's stock heads back towards last September's highs -- or continues its 40 percent-plus decline. Expectations weren't stellar for Apple before the Q1 report, but the company did barely beat analyst estimates thanks to high sales for iPhones and iPads.
Analysts: What's Ailing Apple Isn't Contagious
April 19, 2013
Apple's stock plunge this week to its lowest levels in a year has the financial community bracing for the company's earnings announcement next week. That stock drop is raising questions about whether the company's problems will worm their way into other corners of the Apple universe. For example, Verizon Wireless -- a key carrier partner for Apple -- announced this week that it sold 4 million iPhones in Q1.

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