Pair of lawsuits claim Apple mislead investors on falling iPhone sales

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iPhone stock took a plunge earlier this year.
Photo: Buster Hein/Cult of Mac

Did Apple mislead investors by not coming clean sooner about the drop in iPhone sales? That’s what a pair of new class action lawsuits suggest.

The suits were filed by City of Roseville employees’ retirement fund and the Schall Law Firm, a national shareholder rights litigation firm. They allege that Apple made false or misleading statements that failed to properly disclose its iPhone sales stumble. This could, they suggest, amount to securities fraud.

Apple stock could do something it’s not managed for 8 years

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Apple stock has had a whirlwind year!
Photo: Buster Hein/Cult of Mac

It can’t be said that Apple stock has had a boring last year. In twelve months, we’ve seen Apple hit $1 trillion in value. Then the stock tanked and AAPL entered the sinister-sounding “death cross.”

Now it’s rebounded and, if things continue to go well through today, it will achieve a feat it hasn’t managed since October 2010. That’s back when Steve Jobs was running Apple.

Apple’s ‘show time’ keynote leaves Wall Street cold

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Tim Cook talks up the potential of Apple TV+ to change the world.
Apple's TV+ service has promise. But is it enough to excite investors?
Photo: Apple

Apple stock closed down 1.03 percent yesterday as Wall Street continues to show relative indifference to Monday’s “show time” event.

While AAPL share prices hit $190.57, it finished out the day at $186.79. This came after a 2 percent dip the day before. It follows a media event that was big on talk, but relatively small on detail.

Apple within striking distance of reclaiming $1 trillion crown

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Apple could once again recapture its $1 trillion valuation.
Photo: Ste Smith/Cult of Mac

As excitement builds around Apple’s Monday event, the company is edging closer to reclaiming its $1 trillion market cap.

Apple stock enjoyed its biggest rally since January on Thursday. It closed at $195.09 per share, making its ninth positive day in the past 10 trading days. Having added $33 billion to its market cap on Thursday alone, Apple is currently valued at $919.9 billion.

Today in Apple history: Apple market cap breezes by Walmart

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At this point, a $200 billion market cap seems almost quaint for Apple.
Photo illustration: Ste Smith/Cult of Mac

March 12: Today in Apple history: Apple overtakes Walmart in value March 12, 2010: Apple passes Walmart and investment firm Berkshire Hathaway in value to take third place in market capitalization among publicly listed U.S. companies.

Apple’s valuation roars past $200 billion as a result of intense excitement over the first-generation iPad. Things look good for the company as it guns for powerhouses ExxonMobil and Microsoft.

Warren Buffett isn’t rushing to stock up on Apple shares

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Warren Buffett has been a massive Apple cheerleader.
Photo: CNBC

Warren Buffett has been one of Apple’s biggest investor cheerleaders. However, the 88-year-old super investor says that he’s not going to be adding to his holdings unless prices go down.

“If it were cheaper, we’d be buying it. We aren’t buying it here,” Buffett told CNBC‘s “Squawk Box.”Apple: I don’t see myself selling – the lower it goes, the better, I like it, obviously.”

Apple shares stumble as Warren Buffett’s firm trims holdings

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Warren Buffett has been a massive Apple cheerleader.
Photo: CNBC

In good times, the “Warren Buffett effect” has caused Apple shares to soar — by showing everyone that the world’s most famous investor believes in Apple. However, the opposite is also true: An apparent second thought on the part of Buffett’s firm Berkshire Hathaway can cause shares to fall.

That’s what happened this week, when Berkshire Hathaway was revealed to have slightly reduced its Apple holdings. Responding to the news, Apple shares fell 0.5 percent in pre-market trading.

Apple briefly regains place as most valuable public company

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Apple was back at the top of the mountain yesterday!
Photo: Apple

For a long time, Apple stock was predictable in the way that 1980s Mike Tyson was predictable: steamrolling through challengers as it firmly held onto its status as all-conquering champion.

That changed last year as Apple’s market cap fell behind Amazon, Google, and even old rival Microsoft. But yesterday, for a few moments, it climbed back to the top of the mountain as the world’s most valuable company once again. For a blink-and-you’ll-miss-it moment, that is!

Apple passed on share buybacks while they were cheap

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Apple stock tumbled at the end of last year. Apple didn't buy low, though.
Photo: Ste Smith/Cult of Mac

During good times, Apple’s record-breaking share buyback has been credited with helping with a stock market boom.

Something weird happened in December, however. When Apple’s stock price was tumbling from its record high, Apple stopped buying back shares. Clearly the whole “buy low, sell high” thing doesn’t always apply!

Disappointing holiday earnings don’t stop Apple shares from rebounding

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Apple's on its way back up.
Photo: Ian Fuchs/Cult of Mac

Apple may have suffered a few bruising months, but it seems that investors aren’t ready to lose faith in the Cupertino giant.

Despite Apple announcing disappointing holiday earnings, shares in the company rebounded today. Having performed strongly in pre-market trading, they are currently valued at — time of writing –$161.44. That’s the highest AAPL has been since the middle of December.