Ralph Nader tells Apple to give massive profits to the little guys

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quotes on Apple
Ralph Nader says Apple management spent $100 billion to "enhance their own executive compensation package."
Illustration: Cult of Mac

Apple becoming the world’s first trillion dollar company has put it in the crosshairs of consumer advocates, including Ralph Nader. He heavily criticized the company for a $100 billion stock buyback, instead of using the money to pay employees more, improve recycling efforts, increase R&D, or making other productive investments.

Nader is angered that businesses like Apple have spent so much of the Republican tax cuts put in place last year on stock buybacks, rather than the “productive investment and jobs” they promised. 

Apple shares gain $55 billion after glowing quarterly report

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money
Apple share price increased more than a dollar or two following a very strong quarterly earnings report.
Photo: Ste Smith/Cult of Mac

Investors rushed to buy Apple stock today, pushing the share price up almost 6 percent. That added a whopping $55 billion to the company’s market capitalization.

Apple is still a bit short of the much-hyped $1 trillion valuation, but moved noticeably closer today.