Today in Apple history: Steve Jobs embroiled in stock ‘backdating’ scandal

By

It took 20 pounds of personal computing artifacts to form the face of Steve Jobs.
Steve Jobs' stock demands changed some people's view of the tech innovator.
Photo: Jason Mercier

August 29August 29, 2001: An Apple board meeting takes place, during which Steve Jobs is awarded new stock options which become part of a big “backdating” scandal several years later.

When the matter makes court, Apple’s former general counsel pays $2.2 to settle the charges that she had backdated stock options for Jobs, herself and others — as well as creating fake paperwork to hide this fact.

Warren Buffett is betting big on Apple

Apple shares are taking a dive.
Berkshire Hathaway's investment in Apple could send the price back up.
Photo: Ste Smith/Cult of Mac

Some of the world’s biggest investors have ditched their Apple shares lately, but where others see doom and gloom Warren Buffett sees an opportunity to make some serious money. 

Warren Buffet’s legendary investment firm Berkshire Hathaway has taken a large position in Apple stock, scooping up 9.81 million shares, worth about $1.07 billion.

Apple stock hit with biggest drop since 2013

By

Apple shares are taking a dive.
Apple shares are taking a dive.
Photo: Ste Smith

Apple’s Q2 2016 earnings have been disasterous for the company’s share price, as AAPL stock suffered its worst week in three years.

Wall Street has suddenly soured on Apple, including Carl Icahn, who revealed earlier this week that he dumped all of his shares. With investors offloading shares, the company watched its market capitalization shrink by $65 billion in a mere three days, which is about the equivalent of Cambondia’s net wealth.