Now taking two-thirds of mobile payments; cash grows despite payouts
If you are making a contactless mobile payment in the US based on a Visa, MasterCard or American Express account, odds are that you're doing it from an iPhone 6 model. During the conference call with analysts, Apple CEO Tim Cook revealed that the company's Apple Pay mobile payments system -- only in its fourth month -- now accounts for more than $2 of every $3 of money paid in that manner. In addition, CFO Luca Maestri updated analysts on the still-growing (but more slowly) cash stockpile Apple has, now at $178 billion.
Cites high customer satisfaction, enterprise opportunities among reasons
Apple's iPad tablet is continuing to see growing declines in sales, as noted in the most recent quarterly results. As expected, the iPad dropped 18 percent year-over-year in sales, though new models and the holiday season provided a substantial boost from the previous quarter. Although Apple only sold 21.4 million iPads this holiday season compared to 26 million last year, sales were up strongly from the previous quarter, leaping from September's 12.3 million iPads.
J. Crew Group CEO will retire from Apple's board after 16 years
In a new filing with the SEC, Apple revealed on Thursday that CEO Tim Cook has been able to double his total compensation from that of last year, with the increase based largely on performance bonuses based on how well the company has done over the last year. In addition to $1.75 million in salary, Cook reaped $6.7 million in non-equity incentive compensation for his work. In addition, Apple disclosed in the filing that board member Millard "Mickey" Drexler will retire.
Holiday season expected to give Apple another record-breaking quarter
Apple has announced that it will release the results of its fiscal first quarter of 2015 on Tuesday, January 27. An earnings call is scheduled for 2PM PT that day, or 5PM Eastern, but the company typically issues a press release about 30 minutes beforehand. Barring unexpected developments, the call should include commentary by CEO Tim Cook and CFO Luca Maestri as they respond to questions from analysts and investors, and is expected by most pundits to result in a record quarter for the company.
Links worth to stock performance
Apple's Tim Cook has been chosen as CNN Money's CEO of the Year for 2014. The site explains this is because "Apple is the apple of Wall Street's eye again;" the company's shares are noted to be up 40 percent this year, and close to an all-time peak. CNN in turn links that stock performance to the success of the iPhone 6 and 6 Plus, and "excitement" about the Apple Watch, due to ship early next year.
Williams tells Apple staff that company is improving labor conditions
In a new email memo to the company's UK workforce, Apple's Senior VP of Operations Jeff Williams claims that he and CEO Tim Cook were "deeply offended" by a BBC Panorama documentary exposing labor abuses in the company's supply chain. Specifically, Williams and Cook are said to have been "deeply offended by the suggestion that Apple would break a promise to the workers in our supply chain, or mislead our customers in any way;" Williams charges that "Panorama's report implied that Apple isn't improving working conditions. Let me tell you, nothing could be further from the truth."
Apple CEO looks to influence Southern politics
Apple CEO Tim Cook has made a "generous personal financial investment" in Project One America, an LGBT rights effort run by the Human Rights Campaign, according to an announcement. Project One is concentrated on securing marriage and nondiscrimination rights for LGBT people in Alabama, Arkansas, and Mississippi. HRC says it's interested in "tearing down misperceptions, and providing concrete protections for those who need it most." The organization also lauds Cook for being the first openly gay CEO of a Fortune 500 company, calling it a "clear and powerful message" about it being acceptable to be gay.
CEO announces company's promotions have raised over $100 million since 2006
In a memo to all employees, Apple CEO Tim Cook has announced that the recent (Product) RED campaign, which ran through app upgrade purchases, in-store items and online accessories during the run-up to World AIDS Day on December 1 raised over $20 million, which will be seeded to the Global Fund. The group fights HIV/AIDS, malaria and other health threats largely in Africa and other impoverished areas. Cook said that the promotion has thus pushed Apple's total contribution to over $100 million since 2006.
Executive loses equivalent Time title
Apple CEO Tim Cook has been selected as the Financial Times' Person of the Year. In granting him the title, the publication cites Apple's financial success and "dazzling new technology," as well as Cook's willingness to come out as gay in a Businessweek essay; he is the first openly gay CEO of a Fortune 500 firm. The Times also compliments Cook on hiring former Burberry CEO Angela Ahrendts to head retail, and this summer's acquisition of Beats for $3 billion.
'Productive' meeting ends with civil rights leader praising Apple CEO
On Monday, Apple CEO Tim Cook had a meeting with civil rights leader Rev. Jesse Jackson on what is described as a range of topics, including Apple's efforts to create more diversity both in its own workforce as well as generally throughout the tech industry. USA Today reports the talks as having been "productive," with Jackson praising Cook by saying that he was "impressed with [Cook] and the conversation ... he has a real vision for Apple, and he sees the value in inclusiveness."
Vladimir Putin, Taylor Swift among competition
Apple CEO Tim Cook is among eight finalists in the running for Time's 2014 Person of the Year, the magazine has announced. Cook was previously a candidate for the title in 2012, when Time lauded him for taking over from Apple co-founder Steve Jobs, who died in October 2011. In 2014, the CEO is being credited as the first openly gay CEO of a Fortune 500 company, and for overseeing the iPhone 6/6 Plus, Apple Pay, and still-unreleased Apple Watch -- all the while leading Apple to new revenue and stock highs.
Publicity expected to help bill progress, Apple offers '100 percent' support
An effort by the only openly-gay legislator in Alabama to make progress on an anti-discrimination bill got a boost on Wednesday -- after some initial confusion -- when Apple endorsed the effort by Representative Patricia Todd (D-Birmingham) to name the bill after CEO Tim Cook, who has championed equality and civil rights issues and recently identified himself as gay. Cook is said to be "honored" by the naming, which might allow the bill to progress after years of being stalled on the state house floor.
Administrators still working out how to best use tablets
The board for Pennsylvania's Steel Valley School District has voted to use a $291,791 donation from Apple CEO Tim Cook to buy iPads for district students, and train teachers on the technology, says the Pittsburgh Post-Gazette. The donation was announced in September in honor of Bill Campbell, a former member of Apple's board of directors. The cash was only accepted this week, however, and the iPads won't be formally deployed until the 2015-2016 school year.
Cook works to influence Republican's high-tech stance
Apple CEO Tim Cook's stay in DC on Tuesday involved meeting Utah Senator Orrin Hatch, the latter's office has confirmed. Hatch is the chairman of the Republican Party's High-Tech Task Force, and has been supporting a number of tech-related agendas. One of these involves addressing patent trolls -- patent-holding firms that make their income solely through licensing deals and lawsuits. Hatch backed a Senate patent reform effort this year, and may well bring the issue up again in 2015.
Apple CEO may still be in DC area, sources say
[Updated with Portland store revamp] As a part of the company's World AIDS Day promotions yesterday, Apple CEO Tim Cook made a surprise visit to the Georgetown Apple Store in Washington, DC. He posted photos of the event on Twitter, which also show him meeting with Deborah Dugan, the CEO of the Global Fund. In a tweet of her own, Dugan thanks Apple for feeding over $75 million to The Global Fund since 2006, through specially-branded accessories and iPods. Apple doesn't offer Product (RED)-branded Macs, iPhones, or iPads, though it did produce a one-off (RED) Mac Pro in 2013.
CEO 'knows what he's doing'
Apple CEO Tim Cook has claimed second place on Fortune's Businessperson of the Year list for 2014. In awarding the position, the publication says that it's "becoming increasingly clear that Tim Cook knows what he's doing" in the wake of losing Apple co-founder Steve Jobs in 2011. "The company's stock is at an all-time high. Booming sales of larger iPhones and renewed enthusiasm for Mac computers are making up for slowing growth in iPads. The coming Apple Watch and the already-released Apple Pay service show that Apple remains an innovator -- even under a CEO known more for operational prowess than product savvy," Fortune continues.
Spoke on Apple Pay-CurrentC 'skirmish,' Apple Watch, Carl Icahn
The Wall Street Journal has now released the full 34-minute interview given by Apple CEO Tim Cook on its web site. In the conversation, Cook discusses Apple products, not-yet-available Apple products like the Apple Watch, the thinking behind Apple Pay, and activist investor Carl Icahn, among other issues. While little that was genuinely new was revealed, Cook again shared his thinking on the interface of television and made some fresh comments on things competitors and allies are doing.
Executive thought about media message 'for a while'
Apple CEO Tim Cook has come out as gay in a new essay written for Bloomberg Businessweek. Although the fact has been widely known for some time, Cook has never before stated it publicly. He says that he is "proud to be gay," but admits that it "wasn't an easy choice" to come out. "Privacy remains important to me, and I'd like to hold on to a small amount of it," the essay reads later on. "I've made Apple my life's work, and I will continue to spend virtually all of my waking time focused on being the best CEO I can be. That's what our employees deserve -- and our customers, developers, shareholders, and supplier partners deserve it, too."
Cook says CVS, Rite Aid will eventually need to do what customers want
During the service's first 72 hours, over one million credit and debit cards were activated on Apple Pay, according to Apple CEO Tim Cook. The executive made the comment yesterday at the WSJ.D conference in Laguna Beach, California. Cook moreover claims that Apple Pay already has more mobile wallets in the US than all other mobile payment platforms combined, despite the headstart of options like Google Wallet.
Engineering effort to re-make low demand device would be 'massive'
Without much fanfare, Apple discontinued the hard drive-based iPod classic in September of this year. Speaking at the Wall Street Journal's WSJD conference, Apple CEO Tim Cook had a simple explanation for fans of the high capacity device -- lack of parts availability led to the demise of the last non-flash iPod.
Effort still in earliest stages
For Apple, getting Apple Pay working in China is a major priority, CEO Tim Cook tells China's state-run Xinhua news agency. "China is a really key market for us," he says. "Everything we do, we are going to work it here. Apple Pay is on the top of the list." He adds, however, that the company still has to learn the steps needed to bring Apple Pay to China, and has yet to meet with local banks, merchants, and carriers.
Icahn endorsement, strong iPhone sales, coming holiday behind push
Apple's stock on Thursday hit a new all-time closing high, reaching $104.83 per share at the closing bell. While many are waiting to see if the company can close the week at that level or higher, others -- including activist investor Carl Icahn and CEO Tim Cook -- believe the stock remains undervalued. AAPL also set a new intra-day high of $105.05 during trading, and is up slightly from its close at this writing in after-hours trading. Stronger-than-expected iPhone numbers and the coming holiday season has helped fuel the rise.
CEO as already met with Vice Premier Ma Kai over China iCloud attacks
Apple CEO Tim Cook has posted a picture from his latest trip to China on Twitter, showing him sharing a laugh with a factory worker named Zhang Fan, who helps assemble the iPhone 6 at a factory in Zhengzhou. While Foxconn's factories manufacture equipment for a wide variety of technology firms including Google, Microsoft and others, Cook is the only CEO to routinely visit the facilities and personally investigate conditions and safety at the plants. He called the meeting with Zhang "an early highlight" of the trip.
Chinese government so far denying involvement
Apple CEO Tim Cook met with China's Vice Premier Ma Kai in Beijing on Wednesday to discuss man-in-the-middle attacks against iCloud users, according to Reuters and China's state-run Xinhua news agency. Reuters notes that the Chinese government has so far denied allegations of involvement, which in particular tied the attacks to the state firewall used to censor Internet access in the country. As for the meeting, Xinhua says only that the pair shared views on "protection of users' information" and "strengthening cooperation and in information and communication fields."
Now at $45 billion in buybacks for the year, double its 2013 buying spree
During its conference call to analysts, Apple CEO Tim Cook mentioned that the company had spent $17 billion in the fourth fiscal quarter on further stock buybacks, the largest amount since the March quarter and bringing the total spent across the fiscal year to $45 billion. About half of the money was spent buying shares on the open market rather than through banking partners, an unusual move for a large corporation. The stock came close to another record high on Tuesday, but has yet to crack its $110 all-time (adjusted for both splits and buybacks) share high.
Cook announces new trip to Beijing for worker meeting that will be posted online
As is his habit, Apple CEO Tim Cook on Monday released a company-wide memo to employees recapping much of the sales and growth data from the analyst conference call given earlier that afternoon. He referred to the expectation-beating results as "Apple's highest September quarter revenue ever, and our strongest growth rate in seven quarters," adding that this was made possible "by your hard work and dedication." He also noted the big jump in Mac sales, beating industry averages significantly.
Says Apple shares are trading at half their actual value
(Updated with Apple response) Following up on yesterday's Twitter post, Carl Icahn has published an open letter to Apple CEO Tim Cook, urging him to ask the Board of Directors to "accelerate and increase the magnitude of share repurchases" through a tender offer. He argues that Apple shares are trading at half of their actual value, pointing to personal estimates for Apple's growth in fiscal 2016 and 2017 should value Apple at $203 today. In real-world trading, Apple stocks are currently worth over $101.50.
Investor may be angling for more payouts
Activist investor Carl Icahn has taken to Twitter to hint at an "interesting" open letter addressed to Apple CEO Tim Cook. "Tmrw we'll be sending an open letter to @tim_cook. Believe it will be interesting," one post reads. In another, he comments about his firm's large stake in Apple and recent share performance. "Just over 1yr ago we tweeted our large position in $AAPL & belief the company extremely undervalued. Since then, stock is up 50.6 percent."
Says co-founder's influence is still present in every new product and service
As he has done each year since taking over as CEO, Tim Cook has written a memo to all Apple employees reflecting on the death of co-founder and former CEO Steve Jobs. In this latest note, Cook says he will be thinking of Jobs on Sunday, the third anniversary of his passing. He thanks employees for "helping carry Steve's legacy into the future," and notes that even projects that were begun after Jobs's death still carry his "unmistakeable" influence.
Google chairman defends company against implied Tim Cook remarks
Google chairman Eric Schmidt has fought back against comments over the company's security and privacy, following comments laid out by Apple CEO Tim Cook. In an interview which touched upon a recent open letter about privacy from Cook, Schmidt claims "Someone didn't brief [Cook] correctly on Google's policies. It's unfortunate for him."
Continues trend of recent years
Apple CEO Tim Cook has sent a memo to all of the company's workers, promising an extended vacation the week of the US Thanksgiving holiday. The decision is said to be a reward for this month's product launches, which included iOS 8, the iPhone 6 and iPhone 6 Plus, and previews of Apple Pay and the Apple Watch. The company, and Cook in particular, have instituted similar vacations in the past.
CEO hints at still greater uses
People will be able to use the Apple Watch as a remote for their Apple TV, Apple CEO Tim Cook mentions in the full-length version of a recent Bloomberg interview. "I love operating my Apple TV from the watch. I don't have to worry anymore about the remote falling through the cushions of the sofa," he joked. The interviewer notes that the public has yet to see the matching app. "There's -- I don't think we showed this," Cook responds. "I've got a little advance copy. And so it will operate your Apple TV, and you can imagine that it can control other things as well."
Says climate, human rights, education 'deep in our values'
Speaking at Climate Week NYC earlier today, Apple CEO Tim Cook said that he was "optimistic" about his company's ability to influence climate change, as well as the prospect of people choosing "green" products over alternatives. "Consumers will vote with their dollars. There's no one out there that wants the planet to go in the wrong direction, or to continue to go in the wrong direction," he explained.
Speech to be livestreamed
Apple CEO Tim Cook is due to speak at the Climate Week NYC conference at 12PM Eastern time, or 9AM Pacific. The conference is an annual gathering themed around sustainability, and for 2014 there is a special emphasis on lowering carbon emissions. Cook will be joined by other corporate heads from firms such as IKEA and Bloomberg. A livestream link is embedded below.
Event will run at same time as rival Code/Mobile
Apple CEO Tim Cook will be interviewed at the first WSJDLive technology conference being hosted by the Wall Street Journal, according to an announcement. The event is scheduled for October 27 through the 29 at the Montage in Laguna Beach, California. Some other people appearing at the conference will include Alibaba Executive Chairman Jack Ma, and Dreamworks Co-founder Jeffrey Katzenberg.
Apple executives drum up publicity for iPhone 6 launch
For today's iPhone 6 launch, Apple CEO Tim Cook made an appearance at the Palo Alto Apple Store, while retail head Angela Ahrendts helped launch the phone in Sydney, Australia -- one of the first places in the world to get the device. Cook is said to have taken selfie photos with the crowd, and joked that he'd gotten the phone several months ago. Ahrendts was spotted talking with Apple Store clerks.
Fortune's annual list of Most Powerful Women in Business released, features IBM's Ginni Rometty, App
Fortune has released its 17th annual list of the 50 Most Powerful Women in Business, with Apple's Angela Ahrendts making the top 30. The list, compiled by Fortune editors, produced the list with four criteria: the size and importance of the woman's business in the global economy, the health and direction of the business, the arc of their career, and social and cultural influence. Topping the list is Chairman, CEO and President of IBM Ginni Rometty, who in an interview with Fortune described IBM's recent partnership with Apple for developing services optimized for iOS and IBM support.
Security, user data respect seen as differentiators from rival companies
Company is a 'very different place,' but changing market suits Cook's management style
A hit-and-miss profile on Apple CEO Tim Cook has brought some new details to light about changes made at Apple since Cook took over in late 2011. It also confirms that the Apple Watch project was started after former CEO and co-founder Steve Jobs died, that the consolidation of hardware and software teams that led to Scott Forstall's ouster was a deliberate move by Cook, and that those who work with him have no doubts about the ability of the company to continue innovating.
Williams says holiday launch was possible, but bad idea
A new interview with CEO Tim Cook, lead designer Jonathan Ive, and Operations head Jeff Williams sheds some light on the development of the Apple Watch. Ive remarks that Apple first began working on the project about three years ago, and calls it "probably one of the most difficult projects I have ever worked on." The company delved into an extreme amount of research, going so far as to invite watch historians to speak at its Cupertino headquarters. "What was interesting is that it [watches] took centuries to find the wrist, and then it didn't go anywhere else," Ive says. "I would argue the wrist is the right place for the technology."
Show website features full interview in two parts, includes talk of Jobs, diversity, innovation
A nearly two-hour conversation with Apple CEO Tim Cook covering a wide variety of topics is now available in full from the Charlie Rose show website as well as PBS' own Hulu channel. Excerpts from the interview are also available on PBS' iOS app. The sit down discussion with Rose was filmed almost immediately after Cook unveiled the new iPhone 6 and 6 Plus, the Apple Watch and the Apple Pay mobile payments system.
Apple's product-centric business model differentiates it from others, CEO says
During more of the interview for PBS' "Charlie Rose" show, Apple CEO Tim Cook addressed the thorny issue of user privacy, with Cook coming out strongly differentiating Apple from other companies, noting that Apple "tries not to collect data." Cook said he believes users "have a right to privacy," and used the issue to reiterate that Apple was not cooperating with US government spying programs.
Concerns more directly related to HealthKit
Connecticut's Attorney General, George Jepsen, has issued a letter to Apple CEO Tim Cook, asking the company to explain how the Apple Watch will collect and store data. Jepsen asks, for instance, "whether Apple will allow consumers to store personal and health information on Apple Watch itself and/or on its servers, and if so, how information will be safeguarded," and "if and how Apple will review application privacy policies to ensure that users' health information is safeguarded." Other concerns include consent, the specific types of data the watch and its apps will collect, and guideline enforcement.
New interview reveals CEO still focused on TV, thinking bigger
In a new interview for the PBS Charlie Rose show, Apple CEO Tim Cook adds some small tidbits to hs previous public statements around Apple's latest products. Specifically, he reveals that the company's "great interest" in television is continuing, that the company is working on products not even "rumored about yet," and more.
Apple Watch may be first new product never seen by Jobs, Apple Pay 'incredibly safe'
In interviews with the Wall Street Journal and ABC News' David Muir, Apple CEO Tim Cook reiterated many of the sentiments expressed during the Tuesday press even that introduced the two new iPhone 6 models, the Apple Watch wearable and the Apple Pay mobile payments system. He also, however, had a few words in response to questions, ranging from his thoughts on Steve Jobs in the three years since his passing, and how the iPhone 6 will trigger "the mother of all upgrades."
Electronista, MacNN staff discuss the new announcements from the fall event
A great deal of conversation between the MacNN and Electronista staff happens behind the scenes, especially when something like keynotes are ongoing. This week's annual Apple mobile announcement is no different. Writers Mike and Jordan, along with editor Charles, tackle some of the issues surrounding the mass-media Apple reveal that Tim Cook helmed today, showing the iPhone 6 family, and the Apple Watch.
U2 partnership allows large launch, free Sounds of Innocence album until October 13
Not leaving any stone unturned, Apple made a final announcement during the iPhone 6 unveiling that moved away from hardware. After bringing the much-rumored group U2 to the stage to perform their new single during the event, Tim Cook and Bono played out a little event on stage that would lead to one of the biggest musical launches in history, and it was happening on iTunes.
Photos not obtained by iCloud breach, but by password hacking
Apple CEO Tim Cook has formally addressed the recent celebrity selfies scandal, where some of the images obtained by hackers came from the victims' iCloud accounts (alongside other services, those responsible for the collection of the images have recently admitted). In an interview with the Wall Street Journal, Cook not only acknowledged that some celebrities' accounts were specifically targeted using conventional data-stealing techniques, but promised both educational and engineering improvements.
Every category being hit, CEO says
Flattening iPad sales during the last two quarters are nothing to worry about, says Apple CEO Tim Cook in a new interview. "We couldn't be happier with how we've done with the first four years of the iPad," he tells Re/Code's Walt Mossberg. "I'd call what's going on recently a speed bump, and I've seen that in every category."
Tablet has been popular with medical sector, gov't calls hospital a 'model' for others
One day after US Secretary of Veterans Affairs Robert McDonald called the Palo Alto Veterans Administration hospital one of the "crown jewels" of the VA healthcare system," the facility received a visit from Apple CEO Tim Cook, who tweeted that he was "honored" to meet doctors alongside California legislator Anna Eshoo, noting that the facility is "now using iPads to help treat vets and families." The message was accompanied by a photo of Cook with an iPad-using staffer.