Apple stock hit with biggest drop since 2013

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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. 

Apple’s CEO security budget is surprisingly low

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Tim Cook WWDC 2015
At least he has that knife.
Photo: Evan Killham/Cult of Mac

Apple doesn’t spend the least of any huge company on security for head Tim Cook, but it’s way less than we expected.

Considering the iPhone maker is the biggest company, well, ever, we thought that its board might be especially interested in shelling out some major coin to keep Cook safe. But we looked at several different corporations, and Apple’s spending on CEO security is on the lower end.

Like the way lower end. As in, you would not believe how much Facebook pays to keep founder and head Mark Zuckerberg alive.

Mega-investor Carl Icahn gives up on AAPL

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

Apple’s biggest cheerleader on Wall Street, Carl Icahn, is getting rid of all of his AAPL shares after the iPhone-maker reported its first year-over-year decline in revenues for the first time in 13 years.

The iconic investors has insisted for years that Apple shares are grossly undervalued and has made over $3.4 billion investing in Apple. Now Carl is throwing in the towel even though he still thinks the stock is ridiculously cheap.

Apple pushes U.S. government to teach kids how to code

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Apple CEO Tim Cook.
Tim Cook added his name to this important petition.
Photo: Jim Merithew/Cult of Mac

With its recent purchase of educational startup LearnSprout and its “Hour of Code” programming classes at Apple Stores, Apple has demonstrated that it’s pretty darn serious about education.

Proving this once again, CEO Tim Cook this week put his name to a petition asking the U.S. Senate and House of Representatives to provide $250 million in federal funding to school districts so as to allow every K-12 student in the United States to learn how to code.

Apple revs up R&D spending amid iCar rumors

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Apple Car might be coming, but will it be special?
Apple Car might be coming, but will it be special?
Photo: Aristomenis Tsirbas/Freelancer

Apple may have reached peak iPhone this quarter after posting declining revenues for the first time since 2003, but rest assured the company is working on the next big thing. 

Tim Cook boasted about the amazingly innovative products coming down Apple’s pipeline, and the company’s latest spending figures show its throwing more money than ever at new ideas.