As part of Apple’s celebration of the Mac’s 30th anniversary, the company invited David Muir of ABC News to its Cupertino headquarters for a rare interview with CEO Tim Cook. A couple teaser clips have already aired, and the full special will premiere tonight on ABC’s World News With Diane Sawyer.
In the interview, Cook was joined by Apple executives Craig Federighi and Bud Tribble. Federighi is in charge of Apple’s software, and Tribble was a member of the original Apple Macintosh design team.
There are several juicy tidbits to be gleaned from the interview excerpts, including the confirmation that Apple’s new factory in Arizona will manufacture sapphire glass. Cook also shared his thoughts on the iWatch rumors, NSA, and more.
Carl Icahn’s relationship with Apple has been rocky ever since he became the company’s most loquacious investor last Fall. While ribbing Tim Cook publicly with one hand for not doing a bigger buyback, the other has been busy forking over fat stacks of cash for more and more AAPL shares.
This morning Carl went classic Icahn and took to Twitter again to complain about Cook and the Apple board not giving him and other investors more money with his proposed $50 billion buyback, while also announcing he’s been gobbling up AAPL shares faster than Jaws went after those guys on the boat:
China Mobile, the largest carrier in the world, officially partnered with Apple last year.
After years of speculation — and some incredibly drawn-out contract negotiations along the way — China Mobile finally began selling iPhones today.
Tim Cook was in Beijing for the launch, where he handed out autographed iPhones to customers, alongside China Mobile Chairman Xi Guohua. Cook tweeted the following:
Soon after Tim Cook took over running Apple, we reported that he was following the example of predecessor Steve Jobs in terms of responding to customer emails.
Two-and-a-half years on, it seems nothing has changed.
After negotiating with the Federal Trade Commission for months regarding the use of in-app purchases in the App Store, Apple has reached a consent agreement with the agency, according to a company-wide email Tim Cook just sent employees.
Apple’s in-app purchases practices have frustrated regulators since debuting in the App Store back in 2009. In his letter to employees, which was obtained by Re/code, Cook says a host of complaints from customers led Apple to investigate its practices. Last year Apple emailed 28 million App Store customers regarding their in-app purchases and subsequently refunded more than 37,000 in-app purchases that parents claim were unauthorized. The FTC announced that Apple will refund $32.5 million to customers as part of the settlement.
The settlement also requires Apple to change its billing practices by March 31 to ensure customers give their informed consent before billing them for in-app purchases. Apple also has to add an option for customers to remove that consent at any time.
Cook says “it doesn’t feel right for the FTC to sue over a case that had already been settled. To us, it smacked of double jeopardy,” but the FTC’s deal isn’t going to require Apple to do anything extra, so they decided to sign it and move on.
Apple may as well run Cupertino. Photo: Benjamin Feenstra
It was widely reported in January that Apple was in talks to buy Waze, an Israeli startup with a hugely popular maps app. Waze was rumored to be asking Apple for $750 million. The same outlet that broke the acquisition rumor quickly backpedaled and said no such deal was taking place. Google ended up buying Waze in June for $1 billion.
And so goes the buyout game in Silicon Valley, a power play where tech giants like Apple and Google court hot startups with the hopes of adding them to their war chests.
Apple had its biggest year ever for acquisitions in 2013, with a record 15 smaller companies joining the fold. A dozen of them have now been publicly disclosed.
For an entity as secretive as Apple, examining the companies it buys is one of the only ways to peek into its future plans. When AuthenTec, a company that specialized in fingerprint readers and identification software, was purchased in July 2012, speculation immediately followed. What did Apple want with fingerprint sensors? The answer ended up being obvious, and the technology debuted in Touch ID in September 2013.
Often the outcome of an Apple acquisition isn’t so immediately apparent.
Historically, Apple acquires far fewer companies than its competitors. But the line is starting to blur. Google publicly bought three times as many companies as Apple in 2012 and not even twice as many in 2013. Apple bought more companies than Microsoft in 2013.
So what does all of this say about Apple’s future?
"Low-fi on-hold music at Apple? Not on my iWatch!"
Tim Cook was paid $4.25 million in 2013, according to a regulatory filing reported by Apple on Friday.
This figure broke down as $1.4 million in salary, and a further bonus bonus of $2.8 million. Cook’s other compensation included $52,721 in company contributions to his 401(k) account, life insurance premiums, and vacation cash-out.
Tim Cook has talked about this being an “iPad Christmas”, but plain calling it an Apple Christmas might be altogether more accurate — as Apple surged to a 2013 new stock high following news of the recent China Mobile deal.
Apple stock gained 3.8 percent to end Monday trading at $570.09, reflecting what Creative Technologies analyst Tim Bajarin has called, “a huge deal for Apple.”
Although it hit several year highs over the past several months, Apple stock prices had been depressed for some of 2013 as investors appeared concerned regarding a supposed lack of innovation from the company.
More recently, share prices had wavered as nervous shareholders fretted that the long-reported China Mobile deal wasn’t happening as fast as they hoped.
Although analysts are still arguing over the long-term impact the China Mobile deal is likely to have, this strong year finish nonetheless bodes well for Apple in 2014.
Twitter, Facebook, and Google shares also finished strong after the day’s trading.
Apple investors got their Christmas wish: The China Mobile deal, which could add billions of dollars to Apple’s revenue, has finally materialized.
The iPhone will be available to China Mobile customers beginning January 17, Apple announced Sunday, with pricing and availability to be released at a later date.
Yesterday the White House announced that President Obama would be meeting with a number of tech executives today about HealthCare.gov, the NSA, and how tech is converging the public and private sectors. Another topic of discussion ended up being Netflix’s popular House of Cards series, and apparently Obama is a fan.
While leaving the panel with the President and 14 other American executives, Tim Cook told a reporter that they had “a great meeting.”
The White House has announced that President Obama is scheduled to meet with a number of top-level tech executives in the industry tomorrow, including Apple’s Tim Cook. Topics of discussion will be the recent controversy surrounding the NSA’s phone surveillance, HealthCare.Gov, and ways the government can work with tech companies to grow the economy.
While accepting a lifetime achievement award from Auburn University, his alma mater, Apple CEO Tim Cook told of how The Ku Klux Klan, Martin Luther King and Senator Robert Kennedy shaped his passion for human rights and equality. “Growing up in Alabama in the 1960s, I saw the devastating impacts of discrimination,” Cook said in New York on December 10th. “Remarkable people were denied opportunities and treated without basic human dignity solely because of the color of their skin.”
He recalled childhood memories of watching crosses burn on neighbors’ lawns in Alabama. “This image was permanently imprinted in my brain and it would change my life forever,” Cook said. “For me the cross burning was a symbol of ignorance, of hatred, and a fear of anyone different than the majority. I could never understand it, and I knew then that America’s and Alabama’s history would always be scarred by the hatred that it represented.”
Michael Pallad, Apple’s new iTunes Radio AdmanApple is looking to beef up its ads on iTunes Radio and has poached a top radio ad exec in the process as it prepares to open its service to a wider array of advertisers in 2014.
Michael Pallad, former VP of sales at Cumulus Media, has left the radio giant to oversee Apple’s ad sales for iTunes Radio internationally according to a report from AdAge.
Pallad joined Apple on December 2nd and has spent the last week getting oriented at the Cupertino Headquarters, but he’ll be pressed to get up to speed ASAP as Apple’s initial iTunes Radio ad deals are set to expire at the end of the year.
It’s our T-Day edition CultCast! This time: Jony Ive’s golden touch makes millions for charity; Apple teases underwhelming Black Friday deals; how Apple’s blacklist keeps bad press at bay; the new money in old macs; and we pitch our favorite Thanksgiving Day foods on our holiday edition Faves ’N Raves!
Have a few laughs whilst getting caught up on each week’s finest Apple stories! Download new and past episodes of The CultCast on iTunes or hit play below and let the audio enjoyment commence.
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Apple’s Industrial Design studio is one of the most secretive corporate locations in the world, where even some of the company’s own high ranking execs can’t get in unless Jony Ive wants them to. So with the ID group barred tighter than a nuclear lockdown, how does one go about getting secrets about the design processes at Apple for a book?
Bloomberg TV’s Emily Chang sat down with Leander on her show this afternoon to talk about some of the secrets he discovered about Jony Ive and the design team at Apple for his new book. Not only did The Gov dive into how hard it is to cover Apple, but he also dished on rumors he’s heard about Ive butting heads with top execs who have left Apple – and not just The Felt King, aka Scott Forstall – as well as how Tim Cook has become the ultimate peace keeper at Apple in contrast to Jobs diabolical ways of pitting execs against each other.
Tim Cook caused quite a stir in the worlds of both tech and fashion earlier this year when he announced that Burberry CEO Angela Ahrendts would be leaving the famous trench-coat maker to head up Apple’s retail divisions.
Ahrendts new position at Apple alone wields great power, but when you combine it with her incredible turn around of the Burberry brand, its no wonder many are starting to consider her one of the most powerful executives in the world, which is exactly why Fortune placed Ahrendts at #4 of its annual list of the top people in business.
She doesn’t take over at Apple until Spring 2014 but Ahrendts received the nod from the business mag for her work redefining Burberry’s brand and the subsequent 29% bump in the company’s stock price.
He may feel more than comfortable publishing an open letter to Tim Cook calling for Apple to engage in an immediate $150 billion buyback of shares, but (vocal) activist investor Carl Icahn has said that he would never push Apple to buy Nuance Communications Inc., maker of the software that runs the Siri feature on Apple’s iPhones.
It was just last week that Cult of Mac was bemoaning the kind of consumer society we live in where we’re so desperate for the latest iPhone that Apple Stores have to be opened on Thanksgiving.
Apple CEO Tim Cook has written an op-ed in The Wall Street Journal arguing in favor of the Employment Nondiscrimination Act, a proposed piece of U.S. legislation that protects against sexual identity and gender discrimination in the workplace. Cook occasionally gives media interviews, but him writing something like an op-ed out from under the umbrella of Apple is pretty significant.
Get your silver bullets and holy water ready dear friends, because our new CultCast: some Dell laptops are emitting a mysteriously pungent smell; iPad Air gets benchmarked, is murderously speedy; our fave photo app brings darkness… out of the shadows; Apple says some 5S batteries are dieing… faster than they should; Tim Cook says upcoming Apple products will blow… your mind; and we chant… aloud our favorite apps so you can vote on which is best… it’s an all new Faves N Graves!
Put down that candy and join us for this week’s best Apple stories! Stream or download new and past episodes of The CultCast now on your Mac or iDevice by subscribing on iTunes, or hit play below and let the spookiness begin.
Apple is spreading its green initiative to China. Photo: Apple
Write it off as a smokescreen to cover sliding profit and margins if you want, but Tim Cook’s belief in the culture of Apple came across loud and clear during Monday’s conference call with analysts and reporters.
Speaking about Apple as a “force for good in the world beyond our products” Cook claimed that, “Whether it’s improving working conditions or the environment, standing up for human rights, helping eliminate AIDS, or reinventing education, Apple is making substantial contributions to society.”
During this afternoon’s earning call, Tim Cook was asked about the iPhone 5c and whether the company is disappointed with sales after customers were expecting Apple’s plastic iPhone to be significantly cheaper than its $99 price tag on-contract.
Before diving into iPhone 5c expectations, Cook clarified that even though customers may have expected the iPhone 5c to be Apple’s entry level phone, the company has never considered it to be its cheapest model. That honor goes to Apple’s other cheap phone – the iPhone 4s.
Tim stated that the iPhone 4s is priced as a entry-level offering to giving customers full-access to iOS at a cheap price, while the iPhone 5c is being sold as a mid-tier offer with the 5s of course at the top. Cook elaborated the the iPhone 5c was a good way for Apple to enter the mid-tier market and expand sales in the category. With a record number of iPhones being sold last quarter Tim says he’s pretty pleased with the results so far.
We’re still waiting for Tim Cook and Peter Oppenheimer to start today’s earnings call, but now that the closing bell has rung Apple just released its official financial results for Q4 2013. So far the numbers look pretty good with Apple beating analyst estimations for revenue and profit with $37.5 billion and $7.5 billion respectively.
Sorting through the pile of information and numbers Apple just gave us can make your head spin, so we’ve broken it down for you. Here are the most important numbers you need to know from today’s earnings:
Last night Carl Icahn took to Twitter to talk about one of his favorite subjects, Apple. The billionaire investor tweeted that he had just sent a letter to Tim Cook and would be publishing the letter on his new website tomorrow.
True to his word, Icahn published the full letter this morning urging Tim Cook and the Apple Board to immediately tender an offer for $150 billion AAPL shares at their current price, rather than wait, as other investors have suggested. Icahn also stated that he will continue to invest in Apple and has already increased his stake in Apple from 4 million shares to 4.7 million.
Apple packed a lot into one hour and 20 minutes today, with announcements about OS X Mavericks, Macbook Pro, Macbook Air, Mac Pro, and the stars of the show: iPad Air and Retina iPad mini. We think that this is about an hour and 18 minutes too long to watch, though, so we’ve condensed it to around 90 seconds.
Here is the Apple iPad Air and iPad mini keynote, right from Yerba Buena, in just 90 seconds:
