All items tagged with "Tim Cook"

Amazon spins oldies in modern streaming war

amazon-phone

The album is dead. So dead Amazon thinks customers won’t even care if all the songs in its new music-streaming service have been spun out of tune by DJs across the country for months.

To boost its digital offerings, Amazon is planning to launch its own music service, reports BuzzFeed, but rather than stocking up on the latest hit songs, Prime Music will shun new releases in favor of a potluck offering of songs and albums that are at least six months old.

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Eddie Cue and Jimmy Iovine talk Beats deal and future of Apple

Apple's Eddie Cue and Beats cofounder Jimmy Iovine in Walt's famous red chairs to dish on Beats acquisition

Eddie Cue and Beats Jimmy Iovine sat in Walt’s famous red chairs to dish on the Beats acquisition

Now that Apple’s acquisition of Beats has finally been made official, Eddie Cue and Jimmy Iovine took the stage at the the inaugural Code Conference tonight to give a peak behind the scenes of deal, as well as glimpse at what’s to come in 2014 – including the best product pipeline the company has seen in 25 years.

The interview comes as Apple is preparing for its annual developer’s conference in San Francisco next week where it’s expected to announce new versions of iOS and OS X, and while will have to wait to see if any hardware will come out as well, Eddie Cue is already hard at work hyping Apple’s upcoming products.

Kara Swisher and Walt Mossberg led the conversation with Eddie Cue starting things off by parroting Tim Cook’s statements that Apple acquired Beats for three reasons: Talent, Headphones, and a Music Subscription Service, before revealing these eight new tidbits on the deal as well as the future of Apple:

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Everything you wanted to know about the Beats deal, but were afraid to ask

Timcookdrdrejimmyiovine

Three weeks of speculation and rumors have led to this. Apple is finally buying Beats for $3 billion.

News of the deal broke weeks ago but the tech world is still scratching its head, wondering why Apple decided to buy a company that peddles overpriced plastic headphones and is co-anchored by one of hip-hop’s most notorious MCs.

Forgetting the fact the fact that Beats has captured 60% of its market, makes over $1 billion in sales and has one of the fastest growing music subscription service in the U.S., the acquisition is the most perplexing Apple purchase since NeXT, but now that Tim Cook has broken the silence on why Apple bought Beats we finally answers you wanted to know but were afraid to ask.

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Beats buy brings ‘guys with very rare skills,’ says Apple’s Tim Cook

Beats Music's Jimmy Iovine, Tim Cook, Dr. Dre, and Eddy Cue at Apple HQ

Straight outta Cupertino

Apple’s acquisition of Beats is official, and it’s clear that the move is more about the talent Apple is getting than anything else.

After the buyout was announced this afternoon, Apple CEO Tim Cook explained the reasoning behind the company’s decision. “What Beats brings to Apple are guys with very rare skills,” he said in an interview with Re/code. “People like this aren’t born every day. They’re very rare. They really get music deeply. So we get infusion in Apple of some great talent.”

So it’s obvious that Apple thinks very highly of the people at Beats. But who exactly are they getting as part of the deal?

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Even with last-minute bonus, Tim Cook charity auction falls short

Tim Cook iPad Event

The second charity auction to offer a sit-down with Tim Cook has closed, and $330K has been raised by the winning bid for the RFK Center for Justice & Human Rights.

The winner, who’s identity has not been disclosed, will get to have lunch with Cook at Apple’s headquarters in Cupertino, California. Another perk was added by Cook before the auction closed, but even that failed to garner as much interest as the previous auction.

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Apple loses canny PR queen who crafted air of mystique

katiecotton

Katie Cotton, the woman in charge of Apple’s worldwide corporate communications is undocking from the mothership after nearly two decades of service at Apple, according to a report from Re/code.

Cotton has been one of Apple’s top ranking female VPs since joining the company 18 years ago and has been crucial in shaping the media narrative around pretty much every product from the iPod to the iPad.

Apple spokesman Steve Dowling had the following to say about Cotton’s departure:

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Apple welcomes Angela Ahrendts with $68 million in stock options

angela-ahrendts

It’s been a long wait for Angela Ahrendts to finally join Apple, but as the new VP of Retail just took office last week, Apple decided to make her move from fashion to tech much sweeter by granting her stock options worth a whopping $68 million.

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Apple shares close above $600 for first time since 2012

AAPLstock600

AAPL shares have been extremely undervalued for years, according to CEO Tim Cook, but it looks like Wall Street is starting to warm on Apple as the share price crested above $600 this afternoon for the first time since 2012.

After hitting an all-time high of $702.10 in September 2012, Apple’s stock has failed to regain its old luster despite record iPhone sales and earnings. Tim Cook announced last month that the stock would be split 7-to-1 in June, sending shares prices on a steady climb since hitting $524 per share the day after the announcement.  

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Apple donates $500K to help fight poverty

charity

Apple has donated $500K to the anti-poverty initiative SF Gives, according to people close to the matter.

Launched in March this year, SF Gives is the joint venture of Salesforce.com CEO Marc Benioff and Daniel Lurie, CEO of the nonprofit Tipping Point. Their goal is to get 20 businesses to contribute $500,000 each to fund local charitable programs.

Of course, when you’ve got more money in the bank than the gross domestic product of the whole of Luxembourg, giving $500K to charity isn’t exactly breaking the bank. But it’s interesting because it shows a public commitment to charity in line with Tim Cook’s vision for Apple as a philanthropic “force for good” in the world.

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Apple is raising $17 billion in debt for expanded buyback program

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Wall Street is lining up to stuff its pockets with cash from Apple’s money printing empire, but rather than dipping into its massive offshore cash pile to pay for its expanded buyback program, Apple is once again planning to raise an enormous amount of debt to pay off  investors.

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