Apple stock has been positively soaring as of late, and recently the company pushed past a milestone $700 billion market valuation — a higher number than any U.S. company's ever reached in history. And yet today, almost like a runner tripping on an uneven sidewalk, it stumbled badly. Within the space of a minute, Apple's ridiculously valuable stock dropped a full 3 percent; by the afternoon, it was down by 6.8 percent.
Happy Halloween! There's nothing too spooky about our final Morning Report for the month of October, unless you're an Apple shareholder or Samsung — in which case our Friday edition is likely to be full of ghosts and goblins guaranteed to keep you up late tonight. Enter our haunted house of tech news, if you dare!
It's been a good year for Apple, and even worries about bendy iPhones and major retailers dumping Apple Pay have done little to halt its unrelenting progress. Investors are showing their appreciation. Today the Cupertino company's stock closed at $106.74, which marks the highest points the stock's ever reached when adjusted for the 7:1 share split from earlier this year.
You know it's a strange world when Apple can break its own records and still disappoint analysts. That's the news from Apple's latest quarterly earnings report, which covers the first fiscal quarter of 2014. During that time, Apple generated a staggering $57.6 billion in revenue with a profit of $13.1 billion. The disappointment? As Fortune notes, Apple "only" sold 51 million iPhones out instead of the 56 million some analysts were projecting.
As part of its governance rules, Apple recently altered its requirements in regards to executive compensation and stock ownership. As of February 6, Apple executives and board members will be forced to own a hefty amount of shares, in accordance with salary.
David Einhorn's Greenlight Capital, a shareholder in Apple, filed a federal lawsuit against Cupertino today in response to a proposal set for a shareholder vote on February 27. According to Einhorn, Apple is hoarding large amounts of cash. Apple, as you might have guessed, disagrees with many of the statements made by Greenlight.
While pundits have been quick to lay the blame for Research in Motion’s problems at the feet of its co-founders, a new report reveals that one of them actually attempted “a radical shift in strategy” before throwing his hands in the air and walking away.
Believe it or not, Apple can hold a boring event now and again, and today it was the annual shareholders meeting -- the first with CEO Tim Cook at the helm. Sure, the company has boatloads of cash and its only real drama at the moment is coming out of China, but guys, let’s try to spice things up for next year and at least throw some chairs at each other or something, will you? Thankfully, the rest of the tech world had a more interesting day, so without further ado, here’s all the news that’s fit to print for Thursday, February 23, 2012.
Ladies and gentlemen, we have liftoff! The International Consumer Electronics Show is officially in full gear for 2012 in Las Vegas, with new product announcements coming fast and furious. If you’ve had enough CES news for opening day already, keep reading -- we’ve got a handful of other tech news that you might enjoy on this fine Tuesday, January 10, 2012.