Apple Inc

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Important events

Apr 282021

Apple beats expectations again

Apple reports record revenue and a 54% increase in sales, beating expectations on both the top and bottom lines of its Q2 earnings report. The pandemic has driven demand for Apple products like never before, and the company posted a quarterly record revenue of $89.6 billion, up 54% from the same period last year, along with quarterly earnings per diluted share of $1.40. Don’t forget that Apple’s fiscal year starts in October, by the way, so its April figures are Q2 rather than Q1. International sales accounted for 67% of Q2 revenue. The tech giant saw double-digit growth in every product category: iPhone sales were up 65%, and computer and iPad sales grew almost 80% y-o-y. Apple hasn't provided guidance since the pandemic started, and that hasn't changed, but the strong numbers suggest that 2021 could be looking good. Apple CEO Tim Cook said in a statement:
“This quarter reflects both the enduring ways our products have helped our users meet this moment in their own lives, as well as the optimism consumers seem to feel about better days ahead for all of us… Apple is in a period of sweeping innovation across our product lineup, and we’re keeping focus on how we can help our teams and the communities where we work emerge from this pandemic into a better world.”
Apr 272021

Apple rolls out new privacy software

Apple’s new software update has been the talk of the town recently because of the impact of its privacy upgrades on social media advertisers like Facebook, and the release is finally here. Prices stay steady, lifting 0.19%. The Apple iOS 14.5 iPhone update is a big one, with a bunch of fun updates, but the thing that’s been grabbing headlines has been its new privacy changes, which allow users more transparency and control over the various applications tracking their activity for targeted advertising. The new operating system has a new privacy framework called App Tracking Transparency (ATT) which gives users much more control over how their data is used amid an industry-wide crack down on data privacy and online identity. Google Chrome has jumped on the bandwagon too, getting rid of third-party cookies that contribute to micro-targeted ads for good. As a company that makes most of its money from its ability to track users in order to collect and sell their data, Facebook has been especially worried about the upgrade. From a user perspective, the update means that you’ll get a pop-up when you open your app, which asks to access your unique device ID for advertisers, and you can choose to opt in for a better ad experience. Other handy updates include the ability to open your phone with your iWatch with a mask on, some new Siri voices to choose from, and Xbox controller support for all those gamers who haven't looked away from the screen since lockdown started. It’s ironic timing, considering last week Apple had its own privacy invaded last week after a hacking collective called Axis of REvil posted on the dark web that it had hacked Apple supplier Quanta computer, demanding a $50 million in ransom or they would release sensitive Apple documents. The note was really quite ominous, writing:
“Today we, the REvil Group, will provide data on the upcoming releases of the company beloved by many.”
Apple has kept tightlipped about it all, refusing to comment on whether it had paid the ransom, but as payment is due on May 1, there’s still time for them to change their mind. Hopefully, the $1 billion that Apple has just announced it will invest in a 3,000-employee campus will train up enough techy folk to ensure this kind of thing doesn't happen again. The company plans to employ 5,000 people in San Diego, 3,000 in LA’s Culver City, and 700 in Boulder by 2026.
Apr 212021

Spring Loaded

Apple holds its “Spring Loaded” event, its first event of the year, releasing a bevy of new iPads, iMacs, and more. Highlights of the event included a new iMac that ships in practically every color of the rainbow. The first redesign of the product since 2012 is a nice nod to the iconic 1999 candy-colored iMac. Apple also announced the new iPad Pro with an M1 chip, an AirTag lost-device tracking system (finally!), and a brand new Apple TV.
Apr 082021

Chip shortage making its mark

The global chip shortage is making its mark on big tech companies around the world, and MacBook and iPad production is delayed as the supply crunch hits Apple. It doesn’t seem like anyone is too freaked out though, as prices lift just under 2%.
Apr 012021

Apple goes greener

Apple wants to reduce emissions by 75% by 2030, and in a move towards that goal, the company plans to take on Tesla’s Megapacks for energy storage. Prices lift 2.36%. Apple announced last week that it would build a battery-based solar energy storage facility in California able to store 240 megawatt-hours of energy – which, to put it in perspective, is enough to power over 7,000 homes for a day. The new facility will include 85 Tesla Megapack energy storage systems, which will make it possible for Apple to store energy generated by its facility. The project has been dubbed by Apple “one of the largest battery projects in the country.”
The challenge with clean energy — solar and wind — is that it’s by definition intermittent,
Apple VP Lisa Jackson said.
If we can do it, and we can show that it works for us, it takes away the concerns about intermittency and it helps the grid in terms of stabilization. It’s something that can be imitated or built upon by other companies.
Mar 302021

Foxconn warning

One of Apple’s main electronics components suppliers, Foxconn, says that the shortage of products is expected to last until 2022, and Apple drops 1.23%. Silicon chips are a core component of the tech world, and since the COVID-19 pandemic hit the demand for these chips has skyrocketed, as people stock up on fun electronics like games consoles and TVs to hunker down at home. Supply struggled to keep up with demand, and soon the chip-reliant car industry began to feel the pressure. Carmakers around the world, including General Motors and Ford, have been reducing or halting production in 2021 as they wait for more electronic component supplies. Now, it looks like leading tech brands are starting to feel the burn too.
In the first two months of the first quarter, the impact was not so palpable, but we are gradually seeing that change.
said Young Liu, Foxconn chair, in an earnings call. The firm doesn’t expect the shortage to end before 2022, which could have pretty serious implications for not just Apple but the tech world at large. The call followed a warning from Samsung about two weeks ago about a “serious imbalance” in chip demand and supply globally. Foxconn handles most of the assembly for Apple iPhones, but also works with companies like Microsoft and Google, so it might not be long before some of our other Silicon Valley superpowers get stung.
Mar 222021

Secret button

Apple gains 2.83% after everyone finds out there’s a secret undisclosed button: a sensor that measures temperature and humidity, just waiting to be turned on.
Mar 182021

TradingView launches Apple Timeline

Calling all Apple fans! We just launched our brand-new Timeline – and we're delighted to welcome the legend that is Steve Wozniak to kick things off. With almost 500 entries running from its IPO way back in the dark ages (OK, 1980) right up to its launch in March 2021 and continuing onwards, the Timeline provides a complete, unique library containing everything you ever wanted to know about the company that changed the world… and the way we use computers. From earnings reports, product launches, financings and investments, weird and wonderful happenings, and everything between, check it out and tell us what you think. And if there’s anything we’ve missed, get in touch and we’ll add it to the list! Check out the big man himself, Apple Co-Founder and all-round genius Steve Wozniak, who introduces the Timeline here. Now kick off your shoes, sit back, and enjoy the read.
We asked Apple's co-founder, Steve Wozniak, to make a video for us. He agreed! Red heart Introducing our new $AAPL Timeline:
Mar 092021

Covid Pop

Apple, amongst other tech stocks like Facebook, sees a pop in recovery as COVID restrictions ease. Investors were concerned that the growth the company had seen during lockdown would slow dramatically once stay-at-home orders eased. But some now think the sell-off might have been overdone, and prices lifted 4.09%.
Mar 082021

Germany calling

Apple builds on a long-standing relationship with the region by adding a new facility in Munich that will focus on 5G and wireless tech. The company made Munich, which is already its largest engineering hub in Europe, its European Silicon Design Center with almost 1,500 engineers focusing on improving a variety of products. The expansion in Munich, together with additional investment in R&D, will exceed €1 billion eros in the next three years alone.
I couldn’t be more excited for everything our Munich engineering teams will discover — from exploring the new frontiers of 5G technology, to a new generation of technologies that bring power, speed, and connectivity to the world. Munich has been a home to Apple for four decades, and we’re grateful to this community and to Germany for being a part of our journey.
Said Tim Cook, Apple’s CEO.
Mar 082021

Malala partnership

Apple unveils a new multi-year programming partnership with Malala Yousafzai; the youngest ever Nobel Laureate. Apple already has had a long-standing relationship with the activist, and her initial programming for Apple TV+ will include dramas, comedies, and children’s series.
I believe in the power of stories to bring families together, forge friendships, build movements, and inspire children to dream. And I couldn’t ask for a better partner than Apple to help bring these stories to life. I’m grateful for the opportunity to support women, young people, writers, and artists in reflecting the world as they see it.
Said Malala Yousafzai.
Newsroom / Apple
Feb 212021

Market sell-off

Big tech is getting hit hard as lockdown restrictions ease and investors suspect that big growth stocks won't be as popular when we're not all stuck inside. Nasdaq closes down 2.5% and Apple is down 2.98%. There were heavy losses in the tech sector and share price declines dragged down the S&P 500 as a rise in bond yields dented appetites for growth stocks.
Feb 012021

“Hometown” shot

In honor of Black history month, Apple gathers together a group of 30 black photographers to capture and share the pockets of culture in their hometowns using the iconic iPhone 12 Pro camera lens.
iPhone is my favourite camera to shoot with because it’s in my pocket and I can take it anywhere. I typically shoot at 50 millimetres because it’s the closest to the human eye. I want everything I shoot to represent or be as close as possible to what we see naturally, so I was surprised to really see how iPhone 12 Pro actually shot Ultra Wide.
Said photographer Julien James.
Jan 272021

Q1 crosses $100bn

Apple releases Q1 earnings that show its largest quarterly revenue of all time. It’s also the first time that the firm crosses the symbolic $100 billion mark in a single quarter. Curiously though, prices dip 2.5%. Apple posted all-time record revenues of $111.4 billion, up 21% year-on-year, and quarterly earnings per diluted share of $1.68, up 35%. Sales were up 21% year-over-year: and they weren’t just driven by 5G iPhone sales either – sales for every product category rose by double-digit percentage points. iPhone revenues were up 17%, services revenues were up 24%, and iPad revenues rose by 41%. That’s some seriously strong results. Apple CEO Tim Cook said the results could have been even better if not for the Coronavirus pandemic and the lockdowns that forced Apple stores temporarily shut.
These results helped us generate record operating cash flow of $38.8 billion. We also returned over $30 billion to shareholders during the quarter as we maintain our target of reaching a net cash neutral position over time.
Said Luca Maestri, Apple’s CFO.
Jan 252021

Dan Riccio

Product design guru and leader of hardware engineering Dan Riccio is transitioning to a new role as a vice president of engineering, focusing on a new project and reporting to CEO Tim Cook, after two decades spearheading product development at Apple. John Ternus will take over Apple’s Hardware Engineering organisation as a member of the executive team. Prices lift 2.77%.
Dan Riccio / Apple Leadership / Apple
Jan 132021

Social justice

Apple announces some major new Racial Equity and Injustice Initiative projects, focused on dismantling systemic barriers to opportunity and combatting injustices faced by people of color. The commitments build on Apple’s $100 million racial justice pledge, and include education hubs and an Apple Developer Academy in Detroit.
Jan 052021

Monica Lozano

Apple announces that Monica Lozano has been elected to its board of directors. Prices lift 1.24%.
Dec 082020

AirPods Max

Apple unveils the AirPods Max, with higher quality audio and noise cancellation, starting at $159. Prices lift 0.51%.
AirPods Max / Apple
Nov 182020

Support small business

Supporting small businesses has never been more important than during the COVID-19 pandemic, and Apple is contributing to the effort by announcing a new program that will reduce App Store commission down to 15% for registered small businesses that are earning less than $1 million per year. Prices fall 1.14% on the news.
Nov 102020

Generation Mac

Apple releases a brand new line of next generation Macs, including a new MacBook Air, 13-inch MacBook Pro, and Mac mini. The products will be powered by a revolutionary new chip called M1 - the most powerful chip it has ever created. The chip is optimized for Mac systems that prioritize small size and strong power as key factors.
Oct 292020

Q4 exceeds expectations

Apple announces Q4 results that exceed expectations slightly, but for the third quarter in a row investors aren't offered any forecasts, and prices sink 5.63%. Apple posted record September quarter revenue of $64.7 billion, up 1% from the year before, and quarterly earnings per diluted share of $0.73. Services revenue hit $14.55 billion up 16.3% year-over-year, but iPhone sales were down 20.7% year-over-year at $26.44 billion. The lack of Q1 guidance meant that investors and shareholders didn’t really get an idea of what sales of the new iPhone 12 had been like. However, Cook said that he was optimistic and that “initial data points are really quite good.”
Our outstanding September quarter performance concludes a remarkable fiscal year, where we established new all-time records for revenue, earnings per share, and free cash flow, in spite of an extremely volatile and challenging macro environment.
Said Luca Maestri, Apple’s CFO.
Our sales results and the unmatched loyalty of our customers drove our active installed base of devices to an all-time high in all of our major product categories. We also returned nearly $22 billion to shareholders during the quarter, as we maintain our target of reaching a net cash neutral position over time.
Oct 132020

New product launches

Apple’s September event wasn't so long ago, but Apple isn't quite done yet, gracing us with the new iPhone 12, 12 mini, Pro, Pro Max, and HomePod mini, at a surprise October event, just in time for Christmas. Prices hiked 6.35% on October 12 in the lead up to the event after a Wedbush analyst said he expected the new iPhone 12, and said it would be a "once in a decade" opportunity for Apple. Prices sank 2.65% on the day.
Sep 172020

Apple goes to India

Apple says it will open its online store in India for the first time later in the month.
Sep 152020

September event

Apple holds a digital September events, and after rumors that any new iPhones have been delayed, the event title “Time Flies” suggests a new Apple Watch. Prices lift 0.16%. Apple released a range of gadgets to keep us satisfied. Unveilings were wide-ranging, and included the iPad Air, the eighth generation iPad, a new Apple Watch (now with family setup), the Apple Watch SE, a personalized fitness experience with Apple Fitness+, and a national health initiative with Singapore. Also, the tech giant came out with Apple One, a way to get access to ALL of Apple’s subscriptions and services at once.
Sep 072020


Apple previews Apple Marina Bay Sands in Singapore, the first Apple Store to sit directly on the water.
Newsroom / Apple
Aug 182020

Apple Music Radio

Apple announces two new live global radio offerings on Apple Music, available in 165 countries, as well as the renaming of Beats 1 to Apple Music 1.
Aug 042020

iMac update

Apple’s 27-inch iMac gets an update, with faster performance, a higher quality Retina 5K display, and better quality camera, speakers, and mics. It’s also announced that Phil Schiller will advance to Apple Fellow. Prices lift 0.67%.
Newsroom / Apple
Jul 302020

Q3 knockout

Apple releases Q3 results with revenues at the highest they’ve ever been for this quarter, even among disruptions brought on by COVID-19. Prices jump an impressive 10.47%. Apple posted quarterly revenue of $59.7 billion, an increase of 11% from the same quarter a year ago, and quarterly earnings per diluted share of $2.58, up 18%. The company also announced a 4-1 stock split at the end of August. Many of Apple’s products have been super useful during the stay-at-home lifestyle enforced by the coronavirus pandemic, and it seriously boosted the company’s growth. Though iPhone sales only rose 1.66% year over year, other product categories saw huge growth; especially in services which were up 14.85% from the year before, pushing the company past its internal goal of $50 billion in annual services sales.
Overall these were ‘blow out’ results which in our opinion will add another leg to the Apple long-term growth story.
Said analyst Dan Ives.
Jul 212020

Carbon neutral

Apple commits to carbon neutrality for all of its business, manufacturing supply chain, and product life cycles by 2030. This new commitment means that by 2030 (20 years sooner than IPCC targets), every single Apple device sold will have net zero climate impact. Prices sink 1.38%, unusually.
Jul 162020

Store re-opening

Apple is reopening the brand new Apple Sanlitun, which is set to be the next iteration of Apple’s first store in China. The store is twice the size of the original and represents a number of firsts for China. The store will have comprehensive health and safety procedures, as do all Apple store locations - including mask and temperature checks.
Jun 222020

WWDC ‘20

Apple holds a virtual World-Wide Developers’ Conference (WWDC) in the face of the COVID pandemic, releasing a host of software and services updates, and prices lift 2.13%. The online event was attended by millions of developers, and was free for absolutely everyone. Quite exciting for all the tech nerds out there. Apple unveiled the new version of iOS and iPadOS 14, macOS Big Sur, watchOS 7, and tvOS 14, as well as a few other software updates such as improvements to AirPods and AirPods Pro.
Jun 102020

Back on top

After a rapid decline as the Coronavirus pandemic hits stocks around the world, Apple has been gradually climbing back up, and hits an all-time high in anticipation of its WWDC as demand for new devices is been buoyed by work-from-home conditions. Prices lift 2.57%.
May 122020

Logic Pro Update

Apple gives its music software, Logic Pro X, its biggest update yet, with redesigned sampling workflow, and new beat-making tools. Prices sink 1.14%.
Newsroom / Apple
May 072020

Advanced manufacturing fund

Apple will grant $10 million from its Advanced Manufacturing Fund to COPAN diagnostics, who are a market leader in sample collection kits that vitally assist COVID-19 testing. Prices lift 1.03%. The award will allow COPAN to accelerate the supply of their testing kits, expanding production from several thousand to more than one million kits per week by early July.
May 042020

MacBook Pro

Apple updates the 13-inch MacBook Pro, adding the magic keyboard for that perfect typing experience. Prices lift 1.41%.
Newsroom / Apple
Apr 302020

Hope on the horizon

Apple releases its Q2 results, and revenue from its wearables and services segment save the day with a big a jump thanks to all those peeps stuck bored at home looking to build muscle and bake banana bread. Prices sink, but only slightly at 1.61%. Apple posted quarterly revenue of $58.3 billion, an increase of 1% from the year-ago quarter, and quarterly earnings per diluted share of $2.55, up 4%.
Amid the most challenging global environment in which we’ve ever operated our business we’re proud to say that Apple grew during the quarter.
Apple CEO Tim Cook said during a call with analysts. Though iPhone sales were a bit flat at $4.37 billion, down 10% from the year before, wearables were up 19% to $6.3 billion, and its services segment was up 14% at a record high of $13.35 billion.
Apr 182020

Services going international

Apple’s services segment, which includes features like iCloud and the App Store, and constitutes an increasingly growing part of Apple’s quarterly revenue, will now be available in 20 more countries around the world. Ka-ching.
Apr 152020

Updated iPhone SE

Apple announces the new, updated, and super affordable iPhone SE, which has the fastest chip and best single camera in any iPhone - starting at $399. Prices sink 0.91%.
Newsroom / Apple
Mar 182020

March web-to-web event

Apple typically holds a jam packed two-hour March event to release new products and update, but with the COVID pandemic surging around the world, the tech giant does a direct-to-web release. Prices sink 2.45%, but to be fair, it’s a market gone wild. Releases included the refreshed MacBook Air and iPad Pro. March 2020 saw organizations globally take a hit from the crash of the stock market as the effects of the worsening COVID-19 pandemic were felt across the world and forced countries to enter strict lockdowns. By March 23, the S&P 500 index had fallen 34% to a low of 2,237.40, just 35 trading days after the February 19 peak, with some of the most volatile trading days in history. Apple reached a crash low of $280.46 on March 23 before beginning to recover.
Mar 012020

More closures

COVID is spreading, and in South Korea the LG factory that makes camera modules for Apple, mostly for the iPhone 11, closes after discovering COVIDin the workforce. This doesn't bode well for the highly-anticipated device’s early production. The tech industry was feeling the affects of COVID-19 more and more, with conferences being cancelled and stores closing. Tim Cook didn’t think at this point that COVID would be a long-term concern, and expressed confidence that things would be contained. Oh, how we wish.
Feb 172020

Investor update

Apple cuts its Q2 guidance numbers in the face of the impacts of the worsening COVID-19 pandemic, which is impacting product supply all over the world and leading to lower Chinese demand. Prices sink 1.83%. Guidance was originally set at between $63 and $67 billion, and Apple didn’t offer a new forecast. It makes a large portion of its iPhones and other products in China, but with the increasing effects of COVID, production was halted and retail stores were forced to close. It wasn't made clear at this point whether or not guidance cuts would impact product releases, but we all know February was not the end of COVID-19.
Jan 282020

Holiday season results

Apple releases its Q1 results covering the lucrative December period, and prices lift 2.09%. Apple posted quarterly revenue of $91.8 billion, an increase of 9% from the year-ago quarter and an all-time record, and quarterly earnings per diluted share of $4.99, up 19%, also an all-time record. Revenue and profits hit significantly higher than Wall Street expectations, and it was “sort of a blockbuster quarter all the way around,” Apple CEO Tim Cook put it to CNBC news. The revenue boost of 9% was particularly pleasing after last quarter’s guidance slash, and iPhone sales increase of 8% helped to appease concerns over growth. However, the deadly Coronavirus was on the rise, and Q2 guidance had a much wider range than usual at between $63 billion to $67 billion.
As you can see from the range, we anticipate some level of issue there.
Cook warned.
Dec 182019

Dream team

Apple joins forces with Amazon, Google, and the Zigbee Alliance (what a team), aiming to increase device compatibility for consumers by developing and adopting new connectivity standards, with a focus on security as a key design tenet.
Dec 092019

Apple makes TV history

Apple TV+ makes history as the first streaming service to earn Golden Globe nominations in its launch year. Prices sink 1.40%. Apple TV+’s The Morning Show, was honored with multiple prestigious Golden Globe nominations, including Best Performance.
Newsroom / Apple
Nov 202019

Austin expansion

Apple announces the construction of an all-new campus in Austin, Texas, and is preparing to ship the Mac Pro just in time for Christmas. Prices sink 1.16%.
Nov 132019

Product update

Apple unveils the new MacBook Pro with a 26-inch screen (all the better to watch movies with in lockdown), with faster performance and a slicker keyboard. Prices lift 0.96%
Nov 042019

Housing crisis commitment

California’s worsening housing crisis will receive a $2.5 billion contribution from Apple to combat the affordability and availability issues citizens are facing. Prices lift 0.66%. What nice guys.
Oct 302019

Earnings beat

Apple releases Q4 results which beat earnings and put iPhone sales back on track, lifting prices 2.26%. Apple posted quarterly revenue of $64 billion, an increase of 2% from the year-ago quarter, and quarterly earnings per diluted share of $3.03, up 4%. Once again, revenue was fuelled by strengthening services (which were up 18%) and wearables (54% up) segments. iPhone sales are still down 9% year-on-year, but this is an improvement on previous quarters that saw revenue drop 15%.
We concluded a groundbreaking fiscal 2019 with our highest Q4 revenue ever, fueled by accelerating growth from Services, Wearables and iPad. With customers and reviewers raving about the new generation of iPhones, today’s debut of new, noise-cancelling AirPods Pro, the hotly-anticipated arrival of Apple TV+ just two days away, and our best lineup of products and services ever, we’re very optimistic about what the holiday quarter has in store.
Said Tim Cook, Apple’s CEO.
Oct 282019

AirPod update

Apple introduces the new AirPods Pro, with active noise cancellation and immersive sound. Prices gain 1%.
Newsroom / Apple
Sep 172019

Advanced manufacturing fund

Apple announces that it will be awarding $250 million of its Advanced Manufacturing Fund to Corning Incorporated. Corning supplies precision glass to Apple, and the award builds on the $200 million the company received in 2017.
Sep 092019

September event

Apple holds its September event, unleashing new iPhones — three of them, no less — as well as updates on other hardware and streaming services. Prices sink 0.43%. The star of the show was the iPhone 11 (debuting at $699), but we also got introduced to the iPhone 11 Pro Max (the first of its kind), Apple’s new gaming arcade service, Apple TV+, a new Apple Watch, and even a new iPad.
Aug 052019

China pressure

Apple prices have their worst day since May, seeing a 5.23% price drop. As backlash against tariffs announced against them last week, China let the yuan to fall to its lowest point against the dollar in more than a decade. The Dow plunges 760 points.
Jul 302019

Growth in revenue

Apple’s Q3 results report its biggest June quarter ever with higher than expected earnings, showing that the tech-giant’s revenue has returned to growth after two slowing quarters. Prices lift 2.04%. Apple posted quarterly revenue of $53.8 billion, an increase of 1% from the year-ago quarter, and quarterly earnings per diluted share of $2.18, down 7%. Apple’s iPhone revenue was lower than analysts expected, and fell 12% from the same quarter last year, accounting for 48.3% of total revenue. Apple’s services segment raised the roof again.
Our strong services performance was broad-based. We set new all-time records for AppleCare, music, cloud services, and our App Store business, and we achieved a new third quarter revenue record for the App Store.
Cook said in a call with analysts.
Jul 252019

Intel acquisition

Apple and Intel join forces in a deal worth $1 billion, signing an agreement for Apple to acquire the most of Intel’s smartphone business, and 2,200 employees for the Apple team and leases on intellectual property etc. Prices sink 0.79%.
Jul 092019

Back to school

Just in time for the back-to-school rush, Apple updates its MacBook Air and MacBook Pro, and lowers the price slightly for students. Prices lift 0.61%.
Shubham Sharan / Unsplash
Jun 272019

Staff changes

Apple names 24-year Apple veteran, Sabih Khan, to the company’s executive team as senior vice president of Operations. Jony Ive, Apple’s Chief Design Officer, will be departing to form his own independent design company with Apple as a client.
Jun 032019

WWDC ‘19

Apple holds its annual Worldwide Developers Conference, and after losing 13% in May, by the end of WWDC prices lift from $219.50 to to $237.69, continuing to rise in anticipation of releases. Apple debuted new versions of iOS, iPadOS (now separate from iOS, exciting), macOS, tvOS, and watchOS - all of which have a long list of new features. With iOS 13 iPhone users will get dark mode, performance boosts and upgrades to Maps and Siri. We also got a peek at the new Mac Pro (starting at $5,999) and 6K Apple Display ($4,999).
Julian Schiavo / Wikimedia Commons
May 282019

Updated iPod touch

Even in the face of dramatically deteriorating iPod sales, Apple releases a new iPod touch with AR and FaceTime experiences. Prices sink 0.41%
May 132019

US-China trade dispute

Apple is straight up not having a good time right now, as stock is increasingly hit by worsening US-China trade relations. Prices take a hit of 5.81% after Morgan Stanley says Trump's new tariff on China could mean an extra $160 to the $999 iPhone XS China announced plans to apply 25% duties on 2,493 US products. Trump hopped on Twitter (the only way to communicate diplomatically, ofc) and accused China of backing out of an agreement with US trade officials, tweeting that “China should not retaliate – will only get worse!” In a research note, Goldman Sachs said the US-China clash could raise consumer prices even further and dent US economic growth.
Apr 302019

Q2 results beat estimates

Apple releases Q2 results that beat estimates and put projected revenue back on track. Prices lift 4.91%. Apple posted quarterly revenue of $58 billion, a decline of 5% from the year-ago quarter, and quarterly earnings per diluted share of $2.46, down 10%. Services revenue reached an all time high of $11.5 billion. Total sales were down 5% from the same quarter year-on-year, but it didn’t seem to matter too much to investors as the stock rose. iPhone revenue was also down 17.33%, accounting for 53.5% of Apple’s total revenue - lower than usual.
Our March quarter results show the continued strength of our installed base of over 1.4 billion active devices, as we set an all-time record for Services, and the strong momentum of our Wearables, Home and Accessories category, which set a new March quarter record.
Said Tim Cook, Apple’s CEO.
We delivered our strongest iPad growth in six years, and we are as excited as ever about our pipeline of innovative hardware, software and services.
Apr 162019

Qualcomm litigation

After a legal battle spanning two years and multiple continents, Apple and Qualcomm agree to settle all ongoing lawsuits. Prices lift 0.01%. Apple agreed to give Qualcomm a settlement of an undisclosed amount, and the two reached a six-year patent license agreement, with Qualcomm providing parts to Apple for a couple of years. The two tech-giants had been fighting over Qualcomm’s patent licensing practices since 2017. Apple thought Qualcomm was ripping them off on prices for essential parts. In the past few months, Qualcomm had managed to apply a bit of pressure to Apple by winning iPhone bans in Germany and China over patent violations - any more wins like that and Apple would be in trouble. The two went to court this week, but settled before they’d both finished their opening arguments, probably because neither of them wanted any of their deep dark secrets exposed in a messy legal fight.
Apr 112019

Clean energy goal topped

Apple announces it has almost doubled the number of suppliers that have committed to run their Apple production on 100% clean energy, with the company having spent $50 billion on environmental initiatives. Prices sink 0.83%.
Newsroom / Apple
Mar 252019

March Event

After releasing a string of updates over the past couple of days, Apple holds its first ever services-centric March event, with no hardware announcements at all. Prices climb in anticipation of the event but sink 1.21% on the day. CEO Tim Cook introduced Apple News+, Apple Arcade, Apple Card, and Apple TV+. With the dramatic increase in Apple’s services revenue, it's understandable that they’d give that section a bit of TLC.
Mar 202019


Apple updates its revolutionary AirPods with 50% more talk time, the option of a wireless charging case, and a hands-free way to get Siri’s attention. Prices lift 0.87%
Newsroom / Apple
Mar 192019


Apple updates the iMac with a 2x performance boost and better displays; and people can expect their iMac to be faster for everyday tasks. Prices sink 0.79%.
Mar 182019

New models

Apple introduces the brand new iPad mini and iPad Air, with stronger powers and displays. Prices lift 1.02%.
Newsroom / Apple
Feb 052019

Q1 jump

Despite the price plunge that took place when Apple slashed its Q1 guidance, shares jump on Q1 results that just beat estimates and show slowing iPhone sales but growing sales in the services department. Prices gain 6.83%. Apple posted quarterly revenue of $84.3 billion, a decline of 5% from the year-ago quarter and just above its projected revenue, and quarterly earnings per diluted share of $4.18, up 7.5%. This was the first report released under the new reporting structure announced last quarter, which shifted focus away from iPhone sales and focused on other metrics. Apple saw a sharp decline in iPhone revenue in Q1, making a mark on the company’s main revenue stream. The revenue for Apple’s services segment (such as Apple Pay and iCloud) though came in above $10.9 billion, a 19% year-over-year increase.
While it was disappointing to miss our revenue guidance, we manage Apple for the long term, and this quarter’s results demonstrate that the underlying strength of our business runs deep and wide.
Said Tim Cook, Apple’s CEO.
Our active installed base of devices reached an all-time high of 1.4 billion in the first quarter, growing in each of our geographic segments. That’s a great testament to the satisfaction and loyalty of our customers, and it’s driving our Services business to new records thanks to our large and fast-growing ecosystem.
Feb 052019

Stay green

Apple releases its 13th Annual Supplier Responsibility Performance report showing its many milestones in environmental impact and education initiatives. The company revealed it had trained more than 17 million of its supplier employees on workplace rights, and delivered education and training skills to 3.6 million. All final assembly spots for Apple devices were now certified Zero Waste to Landfill, conserving billions of gallons of water and lowering greenhouse gas emissions.
Feb 052019

Staff changes

Apple names Diedre O’Brien as the new Senior Vice President of Retail + People, replacing Angela Ahrendts as she departs after five successful years of service.
Jan 022019

Revised Q1 guidance

Apple announces that it is revising its previous Q1 guidance in the face of lower than expected iPhone sales in China. Prices plummet 9.96% to the worst low Apple has seen since 2017. Apple lowered revenue guidance to $84 billion, down from the $89 billion-$93 billion the company had projected. Gross margin was also lowered to about 38% from between 38% and 38.5%. Cook cited a number of factors in his letter to investors, primarily weaker than expected iPhone sales - mostly in the China region - and said that price increases that had to do with the strength of the dollar and cheaper battery replacements could have impacted sales numbers.
If you look at our results, our shortfall is over 100% from iPhone and it’s primarily in greater China.
Cook told CNBC’s Josh Lipton in an interview.
It’s clear that the economy began to slow there for the second half and what I believe to be the case is the trade tensions between the United States and China put additional pressure on their economy.
The same day, Apple celebrated a blockbuster holiday week in the App Store, with sales topping $1.22 billion, and a record breaking New Year’s Day 🎉.
Dec 132018

Austin expansion

Apple announces a huge expansion of its operations in Austin, Texas, which includes an investment of $1 billion into a new campus in North Austin. The company also announced plans to launch new sites in Seattle, San Diego and Culver City; as well as expand in cities across the U.S. including Pittsburgh and Boulder over the next three years.
Apple employees in New York celebrate the launch of iPhone XS on September 21, 2018 / Newsroom / Apple
Nov 262018

Go girl

Apple launches an app development program that offers immersive technology apps for the female app developers out there to help grow women led businesses. Prices lift 1.35%.
Nov 012018

A store in París

Apple opens a beautiful store on the famed Champs Elysee. Vive la France!
Nov 012018

Q4 chaos

Apple shares slip on Q4 results that offer weak guidance and slide even further after it reports that the company will no longer list out iPhone, iPad and Mac unit sales. Prices sink 6.63%. Apple posted quarterly revenue of $62.9 billion, an increase of 20% from the year-ago quarter, and quarterly earnings per diluted share of $2.91, up 41% – and beating estimates on the top and bottom line. The company projected total revenue for Q1 to be between $89 billion to $93 billion, coming in only slightly below analyst estimates of $93.02 billion. Services revenue reached an all-time high of $10 billion.
We concluded a record year with our best September quarter ever, growing double digits in every geographic segment. We set September quarter revenue records for iPhone and Wearables and all-time quarterly records for Services and Mac.
Said Luca Maestri, Apple’s CFO.
We generated $19.5 billion in operating cash flow and returned over $23 billion to shareholders in dividends and share repurchases in the September quarter, bringing total capital returned in fiscal 2018 to almost $90 billion.
Oct 302018

October Event

Apple holds a special event, unveiling the new iPad Pro, Mac mini, and MacBook Air. Prices gain 0.50%.
Sep 242018


Apple acquires the music discovery app Shazam in a deal worth $400 million - making Shazam one of Apple’s biggest acquisitions both in music and overall. Prices gain 1.44%.
Sep 122018

September event

Apple’s September event introduced a few devices that fully embrace notch-life - three new iPhones that do away with the home button in place of the crazy advanced Face ID technology. Prices sink 1.24%. We got introductions to the new iPhone Xs and Plus, the iPhone Xr, and the Apple Watch Series 4.
Jul 312018

Q3 victory

Apple stock soars as it releases its Q3 results, smashing estimates and ending trading just shy of a highly anticipated $1 trillion market value. Prices surge 5.89%. Apple posted quarterly revenue of $53.3 billion, an increase of 17% from the year-ago quarter, and quarterly earnings per diluted share of $2.34, up 40%. iPhone sales didn't quite make estimates but surpassed them for average selling price, although were once again beaten on revenue by Apple’s Services segment. Shareholders were anxiously awaiting a price of $207.05 to make Apple the first publicly traded U.S. company worth $1 trillion.
Jul 242018

Piazza party

Apple opens a store in Milan, in the heart of a piazza that will be revitalized by the opening.
Newsroom / Apple
Jul 122018

MacBook Pro Update

Apple introduces the updated MacBook Pro with lightning fast performance and more memory. Prices lift 1.68%.
Jul 122018

Clean energy efforts

Apple introduces an investment fund in China to connect suppliers with clean energy sources as a part of its efforts to combat climate change and contribute to the increased use of renewable energy, now that its 100% green itself. Prices lift 1.68%.
Jun 252018

Get voting

Apple News releases a section specifically focussed on the 2018 Midterm Elections, giving people an easy and trusted way to follow the election. Prices sink 1.49%.
Jun 042018

WWDC ‘18

Apple holds its annual Worldwide Developers Conference and releases a bunch of exciting software updates but no hardware unveilings. Prices lift 0.84%. The company introduced iOS 12, screen time management features, watch OS 5 updates, MacOS Mojave, and a new Apple TV.
Minh Nguyen, Public domain / Wikimedia Commons
May 012018

Sales momentum

Apple releases its Q2 earnings, showing revenue and profit that beat estimates and a sales forecast that suggests strong momentum. Prices surge up 4.42%. Apple posted quarterly revenue of $61.1 billion, an increase of 16% from the year-ago quarter, and quarterly earnings per diluted share of $2.73, up 30%. Apple revenue increased 16% - the fastest growth in more than two years. The tech giant sold 52.2 million iPhone 2.9% % from a year ago, and just under the 52.3 million predicted. The company also raised its dividend, unveiled a new $100 billion share buyback and reported services sales (like Apple Pay and the App Store) jumped 31%t. Q3 revenue will be $51.5 billion to $53.5 billion, also ahead of Wall Street forecasts.
Apr 092018

Gone green

Apple announces that it is now 100% globally powered by renewable energy, with plans to get nine more suppliers to commit to the cause. Prices lift 0.99%. Not only that, but a few days later Apple contributed to the non-profit Conservation International for each device it got in its Apple GiveBack program. In a further effort to aid the global recycling effort, the company also debuted Daisy - a robot that disassembles iPhones to recover valuable materials and reuse them. Everyone needs a Daisy.
Newsroom / Apple
Apr 092018


Apple introduces the iPhone 8 and 8 Plus RED edition, purchases of which will provide testing, counselling, and treatment of the tens of millions of people suffering from HIV/AIDS. There’s never been a cooler way to help out. Prices lift 0.99%.
Mar 272018

Education first

Apple holds its March event, which is an education-focused affair, releasing the new iPad with apple pencil support, and a new online curriculum to spark creativity. Prices sink 2.56%.
Feb 222018

Nestled in the mountains

Apple opens its first store in Austria, nestled in the mountains in Vienna.
Newsroom / Apple
Feb 052018

Cyber step-up

Apple, Cisco, Aon and Allianz announce a new cyber risk management solution for businesses, designed to make businesses more resilient against ransom and malware-related cyber risk, which are the most common threats faced by organizations today. Prices sink 2.5%.
Feb 012018

Lingering concerns

Apple releases its Q1 results, which show some good numbers but make no headway in dispelling concerns over slowing iPhone sales. Amid a broader market sell-off, prices sink 4.34%. Apple reported quarterly revenue of $88.3 billion, an increase of 13% from the year-ago quarter and an all-time record, and quarterly earnings per diluted share of $3.89, up 16%, also an all-time record. However, the total number of iPhones sales declined 1% from the same quarter a year before; and Apple’s sales forecast fell well below Wall Street estimates.
The quarter had enough of both positives and negatives to keep the bulls and bears firmly in their own camps for now.
One analyst wrote.
Jan 242018

Expanding into SK

Apple announces the opening of its first store in Seoul, the first of its kind in South Korea.
Jan 212018

Who run the world? GIRLS

The Malala Fund and Apple announce they’ve teamed up, with the tech giant becoming the Fund’s first Laureate partner, which will allow for significant expansion of Malala’s efforts in championing every girl’s right to 12 years of free, safe, quality education. We love it.
Jan 172018

Doing its part

Apple is doing its part for job creation in the U.S., and expects to contribute $250 billion to the U.S. economy over the next five years, accelerating its investment into the economy and its workforce. Prices lift 1.65%.
Jan 042018

Another New Years’ Day, another record

This year is no exception to Apple’s record-breaking New Years’ Day rule, with a new record of $300 million in purchases in just the one day. Prices lift 0.46%.
Dec 132017

Job creation

Apple announces the latest award winner of its $1 billion Advanced Manufacturing Fund, Finisar, which is a leading manufacturer of optical communications components. Finisar will receive $390 million as part of Apple’s commitment to support innovation and job creation by American manufacturers. Prices lift 0.33%.
A Finisar worker wears specialized gear in the manufacturing area of the Allen, Texas facility / Newsroom / Apple
Dec 082017

Everyone can code

Australian initiative, Everyone Can Code, now offers a full-year course designed by Apple engineers to teach coding and app design to students in over 20 colleges outside of the U.S. – and later to be brought to students in Chicago and nearly 70 European universities. Prices lift 0.82%.
Nov 022017

Back on top

After a bit of a struggling streak with sliding revenues, Apple is officially back on top, ending the fiscal year with Q4 earnings that smash estimates, lifting prices 2.61%. Apple posted quarterly revenue of $52.6 billion, an increase of 12% from the year-ago quarter, and quarterly earnings per diluted share of $2.07, up 24%. After a rocky start in product launch week, the iPhone 8 was a surprise best-seller and “instantly” became one of Apple’s top two selling products at launch, chief executive Tim Cook said on a conference call. The company doesn't plan to slow down either, issuing Q1 guidance that was above expectations.
You can see from our guidance, we’re very bullish.
Cook said.
Oct 202017

Michigan Avenue store

Apple’s newest storefront on Michigan Avenue in Chicago opens on October 20.
Newsroom / Apple
Aug 292017

Accenture partnership

Apple and Accenture partner up to create innovative business solutions for iOS, to help companies unlock new revenue streams, increase productivity, improve customer experience and reduce costs. Prices lift 0.89%
Aug 292017


Apple’s September special event is pretty mind-blowing, unveiling some big ticket items like the iPhone 8 and the iPhone X. Unfortunately, product reviews seem to be less than positive and Apple has its worst product launch week to date. The $999 iPhone X was the biggest reveal of the day, but that’s not to say there was nothing else exciting going on. Other unveilings included iPhone 8, iPhone 8 Plus, Apple Watch Series 3 and 4K Apple TV.
Aug 292017

Katherine Adams joins the team

Bruce Sewell retires, naming Katherine Adams as his replacement for General Council.
Aug 242017

New data center

Apple announces that its next data center will be built in Iowa and will run 100% on renewable energy. Prices lift 0.37%.
Aug 012017

New business lines paying off

Apple releases its Q3 results, with the company crediting newer lines of business such as Apple Pay and the App Store with fuelling growth. Prices rise 4.73% to the highest point of the year so far. The company posted quarterly revenue of $45.4 billion and quarterly earnings per diluted share of $1.67. Revenue was up 7% year on year and quarterly profit rose 12%. Revenue from other devices and services though, such as the Apple Watch, Apple TV and Beats products, jumped 23% year-on-year and were the real shining star of Q3. The one aspect that caught concern was sliding revenues in China, which were down 9.5%, possibly to do with China’s strict internet censorship regime.
Jun 212017

A new people person

Apple names Deirdre O’Brien, a 30-year Apple veteran, as the company’s new Vice President of People. Prices lift 0.59%.
Newsroom / Apple
Jun 162017

Staffing changes

Apple announces that Jamie Erlicht and Zack Van Amburg have joined Apple in new roles overseeing all aspects of video programming worldwide. They both joined from Sony Pictures after serving as presidents since 2005, and blessing us with some absolute bangers like Breaking Bad and The Crown. Prices sink 1.4%
Jun 092017

Market sell-off

Apple loses 3.88% amidst a broader-market sell off that crashed tech stocks. An investment bank warns, after an average WWDC, that share prices of companies like Apple, Amazon, and Facebook had risen too quickly, and shares of all took a hit.
Jun 052017

Reddit x WWDC ‘17 colab

Apple holds its annual Worldwide Developers Conference revealing updates our way, and rumors are swirling in the early hours after alleged Foxconn insiders leaked details of the product releases coming that day (like the Siri speaker and iPhone 8) in a Reddit thread (where else). Prices sink 0.98%. Apple holds its annual Worldwide Developers Conference revealing updates our way, and rumors are swirling in the early hours after alleged Foxconn insiders leaked details of the product releases coming that day (like the Siri speaker and iPhone 8) in a Reddit thread(where else). Prices sink 0.98%. Unveilings included the watchOS 4 for Apple Watch, an all new App Store, updates for the iMac, a macOS High Sierra preview, the arrival of the iMac Pro in December, an iPad Pro, and iOS 11. Apple also took Siri up against the likes of Google Assistant and Amazon Alexa with the new HomePod.
Jun 012017

Developers getting the big bucks

Apple announces that developer earnings from its revolutionary App Store have topped $70 billion since its launch in 2008.
May 232017

Apple and Nokia settle

After a few months of legal disputes, Apple and Nokia settle and sign a patent license and business cooperation agreement. Prices sink 0.12%. In December, Nokia claimed that Apple had breached 32 technology patents in its users interfaces and video encoding. It wasn’t the first time the two had had a rumble, after being locked in a series of legal battles between 2009 and 2011 over the patents for the technology they used in their mobile phones. The new deal allowed Apple to use the technology while Nokia receives an up-front cash payment. The details of the financial agreement were not specified, but it was suggested that it could be worth millions of dollars to Nokia.
May 022017

Cooling iPhone sales

Apple announces Q2 results, showing a surprising dip in iPhone sales. Prices sink 0.31%. Apple posted quarterly revenue of $52.9 billion and quarterly earnings per diluted share of $2.10. Q2 earnings per share beat Wall Street estimates, but revenue just missed; and the company’s revenue forecast for Q3 was about $1 billion short of expectations at $44.5 billion. Revenue for the iPhone rose a meager 1% to $33.2 billion, which Tim Cook attributed to people holding out for the new iPhone. Apple also expanded its capital return program by $50 billion to $300 billion.
Apr 252017

Middle eastern beauty

Apple premiers its newest Middle Eastern store in the Dubai Mall; a breathtaking store with amazing views of the Burj Khalifa and overlooking the mesmerizing Dubai Fountain. Prices lift 0.62%.
Newsroom / Apple
Mar 212017

Press release extravaganza

In place of a March special event this year, Apple reveals a bunch of rumored releases (while still keeping us waiting for others) in a flurry of press releases that all take place within three minutes. Prices sink 1.15%. Oh the excitement. The press release extravaganza saw a new 9.7-inch iPad debuted with an impressively low $329 price point, along with a red aluminum iPhone 7, both of which went on sale on March 24. New Apple Watch bands were out, and iPhone cases in new colors. Apple also said it would release an app for making videos, and the iPhone SE and the iPad mini 4 got new minimum storage tiers and pricing drops.
Feb 222017

Apple Park

The awe-inspiring Apple Park will be open to employees from April. Prices lift 0.30%. The park, which was envisioned by Steve Jobs as a center for creativity and collaboration, will have a theatre named after him at one of the highest points within Apple Park — overlooking meadows and the main building.
Carles Rabada / Unsplash
Jan 312017

Q1 return to growth

Apple breaks its losing streak with Q1 results easily beating estimates, and prices get a lift of 6.10%. Apple posted all-time record quarterly revenue of $78.4 billion and all-time record quarterly earnings per diluted share of $3.36. These results compare to revenue of $75.9 billion and earnings per diluted share of $3.28 in the year-ago quarter. CEO Tim Cook said on a call with investors that it was largely the especially high demand for the iPhone 7 and 7 Plus that fuelled the surging revenue, making up a higher percentage of sales than expected. “We’re thrilled to report that our holiday quarter results generated Apple’s highest quarterly revenue ever, and broke multiple records along the way. We sold more iPhones than ever before and set all-time revenue records for iPhone, Services, Mac and Apple Watch,” he said. “Revenue from Services grew strongly over last year, led by record customer activity on the App Store, and we are very excited about the products in our pipeline.”
Jan 052017

Record-shattering NY

Once again, Apple kicks off the year with its busiest New Year’s Day on its revolutionary App Store, finishing off a record-breaking holiday season and a year of unprecedented developer earnings and breakout app hits. In 2016 alone, developers earned over $20 billion. Seems like a good time to learn coding..
Nov 302016

Apple goes RED

In honor of World AIDS Day, Apple is offering ways for customers to join its fight against AIDS with limited-edition, custom (RED) content on various Apps, with all proceeds from in-app purchases going to the Global Fund.
Oct 272016

Special event

Days after earnings come out, Apple holds a special event with one star announcement: a brand-new, thinner, lighter MacBook Pro with Touch Bar. Prices sink 0.96%. Apple had some other exciting announcements as well, and other unveilings included the new Apple TV App for all your streaming needs, an update to its video and photo editing software Final Cut Pro X, and a new accessibility website.
Oct 252016

Revenue decline #3

Apple releases Q4 results, posting its third consecutive quarterly revenue decline, and prices take a hit of 2.25%. Apple posted quarterly revenue of $46.9 billion and quarterly net income of $9 billion, or $1.67 per diluted share. Quarterly earnings topped estimates, and revenue was on par with expectations. The tech giant sold 45.51 million iPhones in the three months to 24 September, beating an average estimate of 44.8 million. The company also forecast higher-than-expected holiday season revenue of between $76 billion and $78 billion.
We are pleased to have generated $16.1 billion in operating cash flow, a new record for the September quarter.
Said Luca Maestri, Apple’s CFO.
We also returned $9.3 billion to investors through dividends and share repurchases during the quarter and have now completed over $186 billion of our capital return program.
Sep 282016

Deloittes partnership

Apple and Deloitte form a partnership to accelerate business transformation on iPhone and iPad. Prices gain 0.76%
Sep 232016

Ay caramba

Apple is opening its first Apple Store in Mexico City. 🇲🇽
Newsroom / Apple
Sep 072016

Special event

Apple holds a September event unveiling its brand new iPhone 7 and 7 Plus, but oddly prices only gain 0.61%. However, leading up to the release on September 16 prices jump to their highest point this year, hitting highs of $144.66 the day before. Whilst everyone was already expecting the iPhone 7 release, Apple had some surprises in store beforehand: including the game-changing Air-Pods, new colors for the Hermes X Apple Watch colab as well as the new Nike+ app on Apple Watch, the Apple Watch 2 series, and the arrival of Apple Pay in Japan.
Aug 172016

Environmental progress

Lens Technology, a major Apple supplier in Beijing, announces a commitment to running all of its environmental operations on completely renewable energy – a move that is part of Apple’s plan to help manufacturers lower their carbon footprint. Prices lift 0.15%
Jul 262016

Apple services save the day

Apple announces its Q3 earnings, which beat estimates despite slowing revenue. Revenue from Apple services such as the App Store wins the day with 19% revenue growth. Prices get a lift of 6.50%. Apple posted quarterly revenue of $42.4 billion and quarterly net income of $7.8 billion, or $1.42 per diluted share. Numbers beat on earnings and sales — analysts had expected $1.38 in earnings per share on $42.09 billion in sales. Revenue fell 14.6% for the quarter, the second quarter in a row that it has decreased year on year. However, growth in revenue from Apple Services — like iCloud and Apple Music came in at $5.97 billion, up 19%.
We are pleased to report third quarter results that reflect stronger customer demand and business performance than we anticipated at the start of the quarter.
Said Tim Cook, Apple’s CEO.
We had a very successful launch of iPhone SE and we’re thrilled by customers’ and developers’ response to software and services we previewed at WWDC in June.
Jun 132016

WWDC ‘16

This years’ Worldwide Developers Conference is a big one and comes with mostly incremental or software updates, with a lot of changes geared towards moving between Apple devices easily. Prices sink 1.51%. Unveilings included new Siri capabilities on Apple TV, new fitness and health features to the Apple Watch, apps to help kids learn to code, developments like organ donation registration now available on iPhone, the New Mac OS X Sierra update, and iOS 10 - which is Apple’s “biggest iOS release ever”/
May 192016


Apple’s expanding its spaces on the ground, opening a new retail store in San Francisco’s Union Square, as well as a development office in Hyderabad, India, focussing on Maps development and creating up to 4,000 jobs. Prices sink 0.38%.
May 182016

New data center

Apple will open a new data center in Bengaluru, India, to support engineering talent and accelerate growth in India’s iOS developer community. Prices lift 1.18%.
May 172016

Celebrating Chinese music

Apple announces a GarageBand update that celebrates the rich history of Chinese music with new Chinese instruments and vocals.
May 052016

SAP partnership

Apple announces it has entered into a partnership with software company SAP. The companies plan to combine efforts to deliver a new iOS software development kit (SDK) and training academy so that developers can easily build native iOS apps that are specific to their business needs. Prices sink 1.01%.
Apr 262016

Revenue decline

Apple’s Q2 earnings see its revenue decline for the first time in 13 years, and prices fall 6.26%. Oops. The company posted quarterly revenue of $50.6 billion and quarterly net income of $10.5 billion, or $1.90 per diluted share. That compares with $58 billion in revenue and $13.6 billion in profits during the same quarter last year, a drop of 13% for the revenue. It’s not all bad news though, and the company is doing well with its services, with services revenue reaching its highest ever: $6 billion, up 20% from the year before. Apple also announced that there had been a $50 billion increase to its capital returns program, taking the number up to $250 billion.
We generated strong operating cash flow of $11.6 billion and returned $10 billion to shareholders through our capital return program during the March quarter.
Said Luca Maestri, Apple’s CFO.
Thanks to the strength of our business results, we are happy to be announcing today a further increase of the program to $250 billion.
Apr 192016

Updated MacBook Pro

Apple announces the new and improved MacBook Pro with latest processors, longer battery life, and a new rose gold finish. Prices sink 0.53%.
Mar 212016

FBI fandango

After kicking off with a statement about Apple’s ongoing battle with the FBI - Apple and CEO Tim Cook release some fun new products, including the iPhone SE. Prices sink 0.01% There’d been a legal tussle going on between the FBI and Apple after the Feds asked Apple to gain access to the iPhone used by the San Bernadino shooter in 2015, sparking a larger debate surrounding the seemingly never-ending debate between tech firms and the feds over data privacy and how legal authorities should be able to access that data. Tim Cook refused, saying that he’d need to write code that would be able to access all phones, making it a master key to jimmy a door that said “private”. The Feds said it was a one-time deal and they wouldn't do it again (yeah right), so they went to court. Turns out it didn't matter either way because the government found an independent third contractor that could unlock the phone. Tim Cook commented at the March Event:
We believe strongly that we have a responsibility to help you protect your data and protect your privacy. We will not shrink from that responsibility.
Other event unveilings included the 9.7 inch iPad Pro, advanced Health Apps, and advancements to ResearchKit.
Jan 262016

Q1 price drop

Apple releases its Q1 earnings reporting some stunning numbers, but it also shows Apple’s slowest growth in iPhone sales since the company launched, as well as a disappointing revenue forecast for 2016. Prices sink 6.57%. Apple posted record quarterly revenue of $75.9 billion and record quarterly net income of $18.4 billion, or $3.28 per diluted share. Revenue was the largest ever recorded by a public corporation after breaking its own record from the previous quarter. Apple sold 74.8 million iPhones (up 1%), 16.1 million iPads (down 25%), and 5.3 million Macs. Slow growth leads analysts to worry that the tech-giant may have reached its peak. The company’s Q2 revenue guidance was between $50 and $53 billion, down from the $58 billion in revenue booked in Q2 2015, which if accurate, would be the first year-over-year revenue decline that Apple has had in 13 years. This contributed to concerns that Apple was now more of a value stock with no explosive growth ahead. Spoiler alert – not true.
Jan 202016

New & improved music apps

Apple introduces a bunch of new music-making apps, meaning those with an artistic side have all the tools to create music right from their phone or iPad, like their own mini portable studio. Prices lift 0.13%.
Jan 062016

Record breaking holiday season

Apple announces that this past holiday season has been the best ever for the App Store - setting Christmas and NYE records. Over the last two weeks, customers spent over $1.1 billion on apps and app purchases, and over $144 million on January 1 alone. Developers had been paid nearly $40 billion while the App Store carried on fuelling growth. Prices sink 1.96%.
Dec 182015

Apple Pay China

Apple is working with ChinaUnion to bring Apple Pay to iPhone and iPad users in China.
Dec 172015


Apple announces new Chief Operating Officer Jeff Williams, along with some other higher up hires. Prices sink 2.12%.
Apple Leadership / Apple
Oct 272015

A solid Q4

Apple delivers its Q4 results, reporting in solid numbers that beat expectations, and prices are up 4.12%. Apple posted quarterly revenue of $51.5 billion and quarterly net profit of $11.1 billion, or $1.96 per diluted share; fueled by record Q4 iPhone sales, the expanded availability of Apple Watch, and records for Mac sales. Apple sold 48.05 million iPhones, a 22% jump from the previous year, and is around what analysts expected.
Apple’s record September quarter results drove earnings per share growth of 38% and operating cash flow of $13.5 billion.
Said Luca Maestri, Apple’s CFO.
We returned $17 billion to our investors during the quarter through share repurchases and dividends, and we have now completed over $143 billion of our $200 billion capital return program.
Oct 012015

James Bell joins

Apple announces that James A. Bell, who formerly held the position of CFO and Corporate President of the Boeing Company, has been elected to serve on Apple’s Board of Directors.
Sep 282015

iPhone 6 breaking records again

Apple reports record sales of over 13 million of the updated iPhone 6 and 6 Plus - which comes in rose gold and has a bunch of sleek tech updates - just three days after its launch.
Sep 092015

Special event

Apple holds its annual September special event, releasing what Siri has had up her sleeve. Prices are volatile on the day but ultimately sink 1.92%. Unveilings included Apple’s first dalliance with fashion in the form of its Hermes X Apple Watch collection, the free iOS 9, an iPad Pro with Retina display, an updated Apple TV, and an updated iPhone 6 and 6 Plus (which comes in rose gold omg we love).
Jul 212015

High expectations

Apple releases its Q3 results, and there’s a confusing response. Despite some impressive numbers and a quarter any company would be proud to call its own, prices sink 4.23% when iPhone sales numbers don't meet estimates. The company posted quarterly revenue of $49.6 billion and quarterly net profit of $10.7 billion, or $1.85 per diluted share. Profit surged 38%, aided again by robust demand for the company’s latest iPhones and strong growth in China where sales more than doubled. The gains lifted the company’s cash reserves to a record $203 billion. However, while there were 35% more iPhones sold in the Q3 compared to a year earlier, those sales missed some analysts’ estimates. Shares fell, erasing about $60 billion in market value.
In the third quarter our year-over-year growth rate accelerated from the first half of fiscal 2015, with revenue up 33% and earnings per share up 45%. We generated very strong operating cash flow of $15 billion, and we returned over $13 billion to shareholders through our capital return program.
Said Luca Maestri, Apple’s CFO.
Jul 152015

New iPod touch

We’re not sure why Apple keeps making these considering the fast and furiously declining sales numbers, but the new iPod touch is introduced. Prices lift 0.96%.
iPod touch / Apple support
Jun 082015

WWDC ‘15

Apple releases a number of new developments but no revolutionary products at this year's Worldwide Developers Conference, and prices decline the first two days but recover slightly toward June 12. Unveilings included the arrival of Apple Pay to the UK, a preview of the new Apple Watch software, OS X El Capitan (we’re loving these wacky names), the News App for iPhone and iPad, iOS 9; and possibly most notably of all, Apple Music. It’s a great lineup all in all, but possibly not as mind-blowing as people were hoping for.
Jun 032015

Voluntary recall

Apple announces a voluntary recall of Beats Pill XL speakers, including a refund for customers. Apple determined that, in rare cases, the battery in the Beats Pill XL may overheat and pose a fire safety risk. Prices lift 0.12%.
May 192015

New MacBook Pro

Apple updates the MacBook Pro with Retina display with a new touch trackpad, longer battery life, and better storage among other things. Prices sink 0.09%.
May 112015

Going green

Apple announces the expansion of its renewable energy and environmental protection initiative in China. Prices lose 1.02% The expansion includes a new multi-year project in coordination with the World Wildlife Fund that will significantly increase responsibly managed forests across China. The program’s goal is to protect 1 million acres of responsibly managed working forests that provide fiber for pulp, paper and wood products. The company’s goal is to achieve a “net-zero impact on the world’s supply of sustainable virgin fiber and power all its operations worldwide on 100 percent renewable energy.”
Apr 272015

Q2 sees record iPhone sales

Apple releases its Q2 results, which beat estimates at most levels, but confusingly while the price rallies during day trading, it ultimately sinks 1.58%. Apple posted quarterly revenue of $58 billion and quarterly net profit of $13.6 billion, or $2.33 per diluted share. Much of the growth was fuelled by record Q2 iPhone and Mac sales and a record-breaking App Store performance. However, iPad sales remained sluggish. Apple said it sold 12.6 million iPads, down 23% from the same quarter the year before. International domination was on the way though, with sales in greater China increasing 71% to $16.8 billion, outpacing those in the US for the first time, and helping to fuel revenues.
We are thrilled by the continued strength of iPhone, Mac and the App Store, which drove our best March quarter results ever. We’re seeing a higher rate of people switching to iPhone than we’ve experienced in previous cycles, and we’re off to an exciting start to the June quarter with the launch of Apple Watch.
Said Tim Cook, Apple’s CEO.
Apr 272015

Capital return program expansion

Apple announces an increase of over 50% to its program to return capital to shareholders. The company plans to utilize $200 billion of cash by the end of March 2017, and has also approved an increase of 11% to the Company’s quarterly dividend, and has declared a dividend of $0.52 per share, payable on May 14, 2015. From the birth of Apple’s capital return program in August 2012 through March 2015, it has returned over $112 billion to shareholders, including $80 billion in share repurchases.
Mar 092015

March event

Apple holds a March event, unveiling some products that are pretty much what was expected, but exciting nonetheless. Prices lift 0.43%. The event announced the release date and pricing for the hotly anticipated Apple Watch, ResearchKit (to give tools to medical researchers), the fourth redesign of the MacBook, and iOS 8.2's same day release.
Mar 092015

European data centers

Apple has a $1.7 billion plan to build two new data centers in Ireland and Europe, that are run on renewable energy, to power Apple’s online services like the App Store, the iTines Store, and Maps for users across Europe. Prices lift 0.15%.
Jan 272015

A terrific start to 2015

Apple starts off the year with a bang, releasing Q1 earnings that show crazy high iPhone sales and record breaking earnings, lifting prices 5.65%. Apple posted record quarterly revenue of $74.6 billion and record quarterly net profit of $18 billion, or $3.06 per diluted share. These made the history books as the largest corporate quarterly earnings ever, beating the likes of Royal Dutch Shell and ExxonMobil.The results were fuelled by iPhone sales, which set a new record at 74.5 million sold - Tim Cook reported that Q1 represented the most new iPhone users ever and the highest switch rate from Android to iPhone.
Our exceptional results produced EPS growth of 48% over last year, and $33.7 billion in operating cash flow during the quarter, an all-time record. We spent over $8 billion on our capital return program, bringing total returns to investors to almost $103 billion, over $57 billion of which occurred in just the last 12 months.
Said Luca Maestri, Apple’s CFO.
Jan 082015

Ringing in 2015 with a record

Apple starts the year off strong, and the first week of January sets a new record for billings from the App Store with nearly $500 billion spent on apps and in-app purchases. New Year’s Day 2015 also marked the single biggest day ever in App Store sales history. These milestones followed a record-breaking 2014, during which time billings increased 50%, and apps generated revenue was over $10 billion. To date, App Store developers have earned a total of $25 billion from the sale of apps and games. Ka-ching.
Dec 102014

IBM App testing

Apple and IBM deliver the first wave of a new class of apps made specifically for business, supporting cloud services that utilize IBM’s big data and analytics capabilities for Apple users. Prices sink 1.9%. The IBM MobileFirst for iOS can be used by customers in banking, retail, government, and airlines among others.
Oct 302014

Tim Cook speaks up

“Tim Cook Speaks Up” is published on Bloomberg, where Tim Cooks speaks to the rumors regarding his sexuality: announcing he is “proud to be gay” 🏳️‍🌈🏳️‍🌈🏳️‍🌈🏳️‍🌈🏳️‍🌈🏳️‍🌈. Go Tim! Prices lift 2.14%.
Kindly granted by Valery Marchive (LeMagIT) / Wikimedia Commons
Oct 202014

Q4 boost

The tech giant reports better than expected Q4 results driven by strong iPhone sales, lifting share prices 2.72%. Apple posted quarterly revenue of $42.1 billion and quarterly net profit of $8.5 billion, or $1.42 per diluted share. There had been concern in the last few quarters regarding slowing growth in sales numbers, but iPhone 6 sales blew analysts' $40 billion revenue expectation out the water.
Our strong business performance drove EPS growth of 20 percent and a record $13.3 billion in cash flow from operations in the September quarter. We continued to execute aggressively against our capital return program, spending over $20 billion in the quarter and bringing cumulative returns to $94 billion.
Said Luca Maestri, Apple’s CFO.
Oct 162014

Special event

Apple holds a special event to announce some exciting products that are more iPad and Mac focused fresh off the iPhone 6 launch. Prices sink 1.31%. The unveilings included a new, more affordable Mac mini, the availability of OS X Yosemite, Apple Pay, and the iPad Air 2.
Sep 222014

Record breaking first weekend

Despite the mixed reaction from the share price on its unveiling, the iPhone 6 and 6 Plus set a new record and top 10 million sales in the first weekend after pre-orders topped 4 million in the first 24 hours.
Sep 092014

Special event

Apple holds a special event, unveiling a whole host of pretty exciting products, including the highly anticipated iPhone 6 and iPhone 6 Plus. Interestingly, share prices are very volatile and close the day down 0.38%, but jump 3.07% the day after. The event unveiled a lot of exciting things, namely the Apple Watch, the development of Apple Pay, iOS 8, and weirdly U2 is releasing a song exclusively with iTunes. Apple stock was active on the day, with 19 million shares traded. Looking at the share price activity during the day, it seems the price took a hit when the iPhone 6 and iPhone 6 Plus were announced.
Sep 032014

Celebrity photo investigation

When TMZ is writing about iCloud, you know Apple is caught up in a scandal, and the drama (involving some leaked nudes) lands iCloud in the spotlight and sends the share price down 4.22%. In September, a trove of leaked nudes from stars like Jennifer Lawrence hit the web. The source of the leaks is quickly traced back to iCloud being hacked, getting Apple in some hot water. Apple responded by beefing up iCloud’s security, including finally encrypting device backups. The company started heavily promoting two-factor authentication as well, which was on its way to becoming ubiquitous in 2015. Tim Cook admitted that Apple had a responsibility to raise awareness among its customers regarding internet security
Jul 292014

MacBook Pro update

Say hello to the MacBook Pro with Retina Display, faster processors, double the memory in both entry-level configurations, and a new, lower starting price.
Jul 222014

Q3 breaks records

Apple releases its Q3 earnings with record quarterly revenues, but some concerningly low iPad sales numbers. Prices lift 2.61%. Apple posted quarterly revenue of $37.4 billion and quarterly net profit of $7.7 billion, or $1.28 per diluted share. However, Apple only sold 13.2 million iPads, lower than people had hoped.
We generated $10.3 billion in cash flow from operations and returned over $8 billion in cash to shareholders through dividends and share repurchases during the June quarter. We have now taken action on over $74 billion of our $130 billion capital return program with six quarters remaining to its completion.
Said Apple’s CFO.
Jul 172014

Bill Campbell retiring

Apple announces that its longest-serving board member, Bill Campbell, is to retire; replaced by the founding partner of BlackRock (BLK), Susan Wagner.
Jul 152014

IBM partnership

Apple announces its new exclusive partnership with IBM (IBM). The partnership will bring together the market-leading strengths of both companies to transform enterprise mobility a new class of business apps that will bring IBM—bringing IBM’s (IBM) big data and capabilities to iPhone and iPad.
For the first time ever we’re putting IBM’s renowned big data analytics at iOS users’ fingertips, which opens up a large market opportunity for Apple. This is a radical step for enterprise and something that only Apple and IBM can deliver.
Said Tim Cook, Apple CEO.
Jun 302014

iTunes U update

Apple announces some updates to iTunes U, giving teachers and students new tools to create content on the iPad, as well as now being able to start discussions and ask questions from their iPad.
Jun 262014

Vibrant iPod touch

Apple brings new vibrant colors and iSight camera to the new (and more affordable) iPod touch, starting at $199. The iPod touch now comes with iOS 7, offering over 200 features like the Camera app filters that let you add real-time photo effects.
Jun 182014

All-in-one desktop

Apple announces a new and more affordable version of its all-in-one desktop, the iMac, starting at $1,099. Prices lift 0.11%
Jun 032014

WWDC ‘14

Apple’s Worldwide Developers Conference reveals “the biggest release since the App Store” in the form of iOS 8, among other things. Prices lift 1.41% on the day of the keynote, June 3. The iOS 8 is a simpler, faster and more intuitive user experience and introduced iCloud photo library, new messages features and the new Health app. Other releases included the OS X Yosemite, which had a fresh and modern look to it and some cool new apps.
May 282014

Beats Acquisition

Apple will acquire the music streaming service Beats Music, together with Beats Music. As a part of the deal, Jimmy Iovine and Dr. Dre (who co-founded Beats) will join Apple. Apple is acquiring both companies for $3 billion.
Apr 292014

Updated MacBook Air

Apple announces the updated MacBook Air with faster processors and lower prices - the perfect everyday notebook, for sale starting at $899.
Apr 232014

52-week highs

Apple reports its Q2 results, the company's highest ever for a non-holiday quarter. Prices lift 8.2%, threatening to hit $600 for the first time since November 1, 2012 - part of which is due to the stock split announcement on the same day. Apple posted quarterly revenues of $45.6 billion and quarterly net profit of $10.2 billion, or $11.62 per diluted share.
We generated $13.5 billion in cash flow from operations and returned almost $21 billion in cash to shareholders through dividends and share repurchases during the March quarter. That brings cumulative payments under our capital return program to $66 billion.
Said Apple’s CFO.
Apr 232014

Capital return program expansion

Apple also expands its capital return program from $100 billion to over $130 billion, increasing its share repurchase authorization to $90 billion from $60 billion to do so. From August 2012 through March 2014, Apple spent $66 billion in cash on its capital return program. Prices lifted 8.2%, largely in reaction to Q2 results. It was also announced that the board of directors had approved a seven-for-one stock split. Everyone who had a share in Apple as of June 2, 2014, got 6 more shares for every one they held.
Mar 182014

Affordable iPad update

Apple announces that the iPad with Retina display has replaced the iPad 2 as the most affordable 9.7-inch iPad, starting at $399. Price lift 0.88%.
Mar 042014

Peter Oppenheimer retiring

Apple’s Chief Financial Officer and vice president, Peter Oppenheimer, is retiring, making way for Luca Maestri (a hire from within) to take his place.
Mar 032014

Safety first

Manufacturers are rolling out CarPlay, which is basically an app that uses the car's native interface, along with Siri, to control your phone hands-free – from music, to directions, to messages and calls. Safety first, kids.
Jan 272014

Sales decline leads to stock decline

Though Apple’s Q1 earnings beat estimates, weak iPhone sales numbers and an underwhelming current-quarter revenue forecast send shares sliding 8%. Apple reported quarterly revenue of $57.6 billion and quarterly net profit of $13.1 billion, or $14.50 per diluted share. It sold 51 million iPhones (fewer than the 55 million expected), 26 million iPads, and 4.8 million Macs. Apple also announced expected current-quarter revenue of between $42 billion and $44 billion, lower than the $46.05 billion expectation.
We generated $22.7 billion in cash flow from operations and returned an additional $7.7 billion in cash to shareholders through dividends and share repurchases during the December quarter, bringing cumulative payments under our capital return program to over $43 billion.
Said Peter Oppenheimer, Apple’s CFO.
Jan 072014

$10 bil in App Store sales

Apple announces that in 2013, App Store sales topped $10 billion – $1 billion in December alone, making it the most successful month in App Store history.
Dec 222013

New partnerships

China Mobile and Apple enter into a multi-year agreement to bring iPhone to China. Prices gain 3.84%. China Mobile is the world's largest mobile network, and now iPhone 5s and iPhone 5c will be available in both Apple and China Mobile retail stores across the country.
Apple has enormous respect for China Mobile and we are excited to begin working together. China is an extremely important market for Apple and our partnership with China Mobile presents us the opportunity to bring iPhone to the customers of the world's largest network.
Said Tim Cook.
iPhone customers in China are an enthusiastic and rapidly growing group, and we can’t think of a better way to welcome in the Chinese New Year than getting an iPhone into the hands of every China Mobile customer who wants one.
Dec 182013

New Mac Pro

Starting on November 19, the all-new Mac Pro will be available. The device has been redesigned from the inside out, featuring the latest Intel Xeon processors, dual workstation-class GPUs, PCIe-based flash storage and ultrafast ECC memory.
Nov 242013

PrimeSense Acquisition

After months of the rumor mill running riot with gossip that Apple had acquired Israeli firm PrimeSense, Apple confirmed the acquisition. Prices rise from $18.56 to $19.86 by the end of the month. PrimeSense is a developer of chips that enable three dimensional machine vision, which suggests that the next Apple products might involve gesture controlled tech. Apple didn't confirm a price, but Israeli media says the deal is rumoured to have been for about $350 million.
Nov 122013

Retina display iPad mini

The iPad mini is now available with Retina Display. Prices up 0.19%
Oct 282013

Sales are up, profits are down

Apple announces its Q4 earnings with its third consecutive quarterly profit decline despite 33.8 million iPhone sales (a surge of 26%). Prices sink 2.49%. Apple posted revenue of $37.5 billion and quarterly net profit of $7.5 billion, or $8.26 per diluted share. On an annual basis, Apple ended its fiscal year with its first earnings decline in 11 years after net profit slipped to $37bn. The company sold 33.8 million iPhones, 14.1 million iPads, and 4.6 million Macs. The Board of Directors also declared a cash dividend of $3.05 per share of common stock, payable on November 14, 2013.
We generated $9.9 billion in cash flow from operations and returned an additional $7.8 billion in cash to shareholders through dividends and share repurchases during the September quarter, bringing cumulative payments under our capital return program to $36 billion.
Said Peter Oppenheimer, Apple’s CFO.
Oct 222013

Special Event

Apple’s special event brings the anticipated OS X Mavericks and new iPad Air which is much faster and thinner, amongst other things. Prices sink 0.29%. Other unveilings included the updated MacBook Pro and Pro with Retina display, and the next generation of iWork and iLife apps. Apple’s special event brings the anticipated OS X Mavericks and new iPad Air which is much faster and thinner, amongst other things. Prices sink 0.29%.
Oct 142013

Angela Ahrendts

Angela Ahrendts, who was the CEO of Burberry, joins Apple in a newly created position, as a senior vice president and member of the executive team, reporting to CEO Tim Cook. The new SVP will have oversight of the strategic direction, expansion and operation of both Apple retail and online stores.
Sep 242013

Updated iMac

Apple announces a new and updated iMac, with fourth generation Intel quad-core processors, new graphics, next generation Wi-Fi and faster PCIe flash storage options. Prices sink 0.31%.
Sep 102013


Shares of Apple tumble over 5% after it releases the iPhone 5S and 5C, and investors and analysts alike are disappointed over the high price tag attached to the “budget” 5C. In the company’s biggest one-day drop in eight months, and combined with the 2% drop from the day before, nearly $35 billion was wiped off Apple’s market value. The 5S was set to be priced at $649, with the budget version selling for not a lot less at $549. The price gap didn't impress anyone, and a bunch of banks downgraded their rating to neutral. The concern seemed to be that the low-cost version wasn’t low enough to compete with other brands like Samsung in the lower-tier smartphone market. There were also hopes that a lower iPhone price could have given Apple the chance to make a land grab in China, but the $549 price tag was too high. iPhone sales still topped nine million in three days, setting a new record.
Aug 132013

Icahn and Apple

Business magnate and billionaire investor Carl Icahn gets busy on Twitter, revealing plans to heavily invest in Apple after a chat with CEO Tim Cook. He thinks the company is“extremely undervalued”. The man isn’t a billionaire for nothing, and people seem to follow his lead, sending the stock up from $16.82 on August 13 to $17.94 by the end of the week. Icahn apparently accumulated over $1 billion worth of Apple shares – which sounds like a lot, but was only 1% of the company’s market cap at the time. More important than his share amount was his confidence in the stock. Icahn was also an advocate for a bigger stock buyback program than the company had last year, and considering Tim Cook’s personal compensation now depends on Apple’s stock performance, it’s likely he’ll keep listening.
Jul 232013

Quiet Q3

The third quarter is often a quieter one for Apple as it winds down from WWDC and gets ready for any fall launches, but Q3 earnings this year still manage to beat estimates, boosting the share price over 5%. Apple reported just over $35.3 billion in revenue, up just less than 1% from the year before, and boasted over 31 million iPhone sales, a record for a June quarter. Profits were down 22% from the same quarter last year but still healthy at $6.9 billion. The company sold 31.2 million iPhones, 4.6 million iPads (compared to 17 million in the year-ago quarter), and 3.8 million Macs. Apple’s Board of Directors also declared a cash dividend of $3.05 per share of the Company’s common stock.
We generated $7.8 billion in cash flow from operations during the quarter and are pleased to have returned $18.8 billion in cash to shareholders through dividends and share repurchases.
Said Peter Oppenheimer, Apple’s CFO.
Jun 192013

Changing the textbook game

The Los Angeles School Board of Education approves a massive roll out of iPads to students across schooling districts starting in fall. Prices sink 2.03%. The Board committed $30 million to iPads in the first phase of a larger roll out across the state - which is the second largest public school district.
Education is in Apple’s DNA and we’re thrilled to work with Los Angeles Unified public schools on this major initiative as they plan to roll out iPads to every student across 47 campuses this fall. Schools around the world have embraced the engaging and interactive quality of iPad with nearly 10 million iPads already in schools today.
Said Philip Schiller, Apple’s senior vice president of Worldwide Marketing.
javier trueba / Unsplash
Jun 102013

WWDC ‘13

WWDC always brings much fanfare, but this years’ releases seem to miss the mark and prices lose 0.66%. Releases included all day battery life for the MacBook Air, iTunes Radio, iOS 7, and a developers preview of OS X Mavericks (finally no more cat names for the OS X).
May 302013

A hot ticket

Apple announces the line-up for its epic iTunes festival in London, and headliners include megastars Justin Timberlake and Jessie J. Prices increase 1.49%.
May 162013

50 billion App Store downloads

Apple’s historic App Store tops 50 billion downloads. Brandon Ashmore from Mentor, Ohio, is the lucky 50 billionth downloader, and walks away with a $10,000 gift card to the App Store as a reward.
May 142013

A $610k cuppa

Some massive Apple geek out there pays the price of a Lamborghini to have a coffee date with Tim Cook. The deal is done at Apple HQ in a charity auction. No offense Tim, but we probably would have gone with the Lambo. After listing the cuppa at $50,000, a whole load of people got involved and 86 bids later, an anonymous bidder took the prize. Maybe half a mill for some time with a tech giant seems cheap, considering the $3.4 million some guy paid for lunch with Warren Buffet back in 2012.
Apr 232013

Capital Return Program

The company’s plan to return capital back to shareholders gets a major update, and Apple more than doubles its capital return program, now planning to payback $100 billion of capital back to shareholders. Prices lift 1.87%. This represented a 55% increase on the original $45 billion plan, and translates to an average rate of $30 billion per year from the time of the first dividend payment in 2012. As a part of this, the Board of Directors had its share repurchase authorization raised from $10 billion to $60 billion – the largest single stare purchase ever authorized – and expected to finish by the end of 2015. They also approved a 15% increase to Apple's quarterly dividend and declared a dividend of $3.05 per common share, payable on May 16.
Apr 232013

Falling profits

Apple posts its Q2 results and shows its first quarterly drop in decades, sending prices down 1.87%. The tech giant reported $43.6 billion in revenue (up from $39.2 billion the same quarter last year) boosted by strong sales numbers, along with $9.5 billion in quarterly net profit, down from $11.6 billion last year. Apple sold 37.4 million iPhones, 19.5 million iPads, just under 4 million Macs, but there’s no longer any word on iPods.
Our cash generation remains very strong, with $12.5 billion in cash flow from operations during the quarter and an ending cash balance of $145 billion.
Said Peter Oppenheimer, Apple’s CFO.
Apr 012013

Lower the pitchforks

After two weeks of controversy surrounding customer care in China, Tim Cook releases an apology letter to the people of China with a promise to improve. The stock prices carry on sinking though, which could have more to do with concern over Q2 results coming out soon. Warranty policies were at the core of the grievances that government-led media in China had aimed at Apple, and Cook vowed to improve customer service in the country. This underscored how important it was for Apple to keep China happy. Concern had been mounting over the “slowness” of Apple’s growth, especially as its profit margin dropped dramatically over the last year, as did its revenue growth.
Mar 062013

iBookstore Japan

Apple announces the launch of the iBookstore in Japan, featuring titles from major and independent publishers around the world. Prices sink 1.27%.
Feb 282013

iTunes U milestone

iTunes U, the world’s largest online catalog of free educational content, has had over one billion content downloads. Prices lose 0.71%.
Feb 132013

MacBook Pro Update

Apple is making the MacBook Pro with Retina display even faster and even more affordable at $1,499, with updated processors and lower starting prices. Prices sink 0.19%
Feb 072013

Shareholder payback

In 2012, Apple plans to return $45 billion to shareholders over three years. It announces that as of next week, it will have executed $10 billion of that plan. Prices lift 2.38%.
Feb 062013

Monkey Drums

Music fans have now purchased and downloaded more than 25 billion songs from the iTunes Store. The 25 billionth song, “Monkey Drums” by Chase Buch, was purchased by Phillip Lüpke from Germany. As the downloader of the song, he gets to walk away with a €10,000 iTunes Gift Card.
Jan 292013

New Gigapacity on iPad

Apple announces a 128GB version of the fourth generation iPad with Retina display, providing double the storage capacity. Prices gain 1.88%.
Jan 282013

iOS to 6.1

Apple updates iOS to version 6.1, adding LTE capabilities. Prices lift 2.26%.
Jan 232013

Slowing growth?

The jubilance that Apple’s quarterly results are usually met with is noticeably lacking, and Q1 results lead to concerns that the company’s growth is slowing too much. Prices sink over 12%. The company reported $54.5 billion in revenue (up 17.7% from the year-ago quarter), $13.1 billion in profit (flat from the year-ago quarter), and earnings of $13.81 per share. We guess when you’ve set all the records already, it’s hard to keep up with yourself. Apple sold 12.7 million iPods, 47.8 million iPhones, and 22.9 million iPads.
We’re pleased to have generated over $23 billion in cash flow from operations during the quarter. We established new all-time quarterly records for iPhone and iPad sales, significantly broadened our ecosystem, and generated Apple’s highest quarterly revenue ever.
Said Peter Oppenheimer, Apple’s CFO. The Board of Directors also declared a cash dividend of $2.65 per share of the Company’s common stock, payable on February 14. Tim Cook kicked off the year with some relationship-building efforts with his second official trip to China in January to meet with officials and the peeps over at China Mobile. At this point, China Mobile was unable to use iPhones because of some techy limitations that they didn’t want to get involved with politically, and there were hopes that a meeting would allow for greater expansion for Apple.
Jan 072013

40 billion apps

Apple announces a record-breaking December with over two billion downloads. The App Store surpasses 40 billion downloads, with nearly half of that in 2012 alone.
Dec 052012

Just in time for the holidays

The first few days in December see Apple unleashing a bevy of banging new products internationally just in time for the Christmas rush - the iPhone 5 and iPad mini land in China, and iTunes and the iPhone 5 are launched in South Korea and 50 other countries in early December. iPhone 5 sales topped two million in its first weekend in China. iPhone 5 will be available in more than 100 countries by the end of December, making it the fastest iPhone rollout ever.
Nov 102012

Wave the white flag

Apple settles all of its patent disputes with Taiwanese phone maker HTC, ending a fight that began in 2010. The deal will see both companies drop their charges and sign a 10-year patent cross-licensing agreement, which HTC says will "not have a material adverse impact" on its financials — meaning HTC is paying Apple at least some money. patent litigation, which spanned multiple lawsuits in courts around the world, so we’re sure investors are relieved.
Nov 052012

3mil in 3 days

Apple sells three million iPads in just three days since the launch of its new iPad mini and fourth generation iPad
Oct 252012

Record results for Q4

Apple records a record quarter in terms of revenue and profit, as well as declaring a cash dividend of $2.65 per share, payable on November 15. Prices lose 0.91%. Apple posted revenue of $36.0 billion and quarterly net profit of $8.2 billion, or $8.67 per diluted share. The company sold 26.9 million iPhones in Q4, a good bump up from the 26 million iPhones sold last quarter, 14 million iPads, 4.9 million Macs, and iPod sales keep declining at 5.3 million.
We’re pleased to have generated over $41 billion in net income and over $50 billion in operating cash flow in fiscal 2012. Looking ahead to the first fiscal quarter of 2013, we expect revenue of about $52 billion and diluted earnings per share of about $11.75.
Said Peter Oppenheimer, Apple’s CFO.
Oct 232012

“We’ve got a little more to show you”

Apple holds another special event after releasing a teaser picture saying “We’ve got a little more to show you”. The “little” tips people off that this might be the rumored iPad mini arriving, and they are right. Prices sink 3.26%. The iPad mini is 23% thinner and 53% lighter than the third-generation iPad, and it will be available on November 2 at a starting price of $329. Tim Cook also presented the new fourth generation iPad, slimmer new iMacs, and the 13-inch MacBook Pro with Retina display.
Sep 122012

Special event surge

Apple’s famous special event always brings much excitement to the Silicon Valley marketplace, and this year the Apple Gods bless us with a brand new iPhone 5, as well as new iPods, software, and hardware. Prices lift 1.39%. Unveilings included new iTunes, and the new iPod touch and iPod nano. There had been hopes of a new mini iPad, but luckily the thrill of the iPhone 5 kept people buzzing. The phone went on sale on September 21 starting at $199. Pre-orders topped two million in 24 hours and its first weekend sales topped 5 million.
Demand for iPhone 5 has been incredible and we are working hard to get an iPhone 5 into the hands of every customer who wants one as quickly as possible. While we have sold out of our initial supply, stores continue to receive iPhone 5 shipments regularly and customers can continue to order online and receive an estimated delivery date. We appreciate everyone’s patience and are working hard to build enough iPhone 5s for everyone.
Said Tim Cook, Apple’s CEO.
Aug 272012


Apple likes its home-grown executives, and announces that Craig Federighi and Dan Riccio have been promoted to senior vice presidents. Federighi and Riccio will report to Apple CEO Tim Cook and serve on Apple’s executive management team. It was also announced that Bob Mansfield, who was set to hand over his position to Dan Riccio after announcing his retirement in June, would remain at the company. Prices lift 1.88%. Apple likes its home-grown executives, and announces that Craig Federighi and Dan Riccio have been promoted to senior vice presidents. Federighi and Riccio will report to Apple CEO Tim Cook and serve on Apple’s executive management team.
Jul 252012

Mountain Lion

The ninth release of Apple’s revolutionary desktop operating system, OS X Mountain Lion, is available from the Mac App Store. Downloads top three million in four days, making it the most successful OS X release in Apple’s history.
Jul 242012

Q3 Forecast fail

Apple has been kicking quarterly ass, but Q3 results come in under expectation and prices take a hit of over 4%. Apple posted quarterly revenue of $35.0 billion and quarterly net profit of $8.8 billion, or $9.32 per diluted share. Analysts were expecting to see revenues of about $37.4 billion, with earnings of roughly $10.38 per share, marking the first disappointing quarter Apple has had in awhile. Apple sold 26 million iPhones, 4 million Macs, 6.8 million iPods, and an impressive 17 million iPads. Apple also announced that it would be issuing a cash dividend of $2.65 per share of common stock.
We’re continuing to invest in the growth of our business and are pleased to be declaring a dividend of $2.65 per share today. Looking ahead to the fourth fiscal quarter, we expect revenue of about $34 billion and diluted earnings per share of about $7.65.
Said Peter Oppenheimer, Apple’s CFO.
Jun 282012

New SVP of engineering

Apple announces that Bob Mansfield, its Senior Vice President of Hardware Engineering, will be retiring, and the role will transition over to Dan Riccio, who previously in charge of iPad Engineering. “Dan has been one of Bob’s key lieutenants for a very long time and is very well respected within Apple and by the industry,” said CEO Tim Cook. “Our hardware engineering team is the best engineering team on earth and will not miss a beat during the transition.” Prices sink 0.95%
Dan Riccio / Apple Leadership / Apple
Jun 262012


Just a couple of days after expanding its iOS and Mac App Store to 32 new countries, Apple carries on taking over the world by launching the iTunes Store in countries across Asia.
Jun 112012

WWDC ’12

Apple’s annual Worldwide Developers Conference (WWDC) kicks off on June 11 and brings a number of new releases. Prices sink 1.58%. Some of the releases included the all new MacBook Pro, MacBook Air, and Mountain Lion. The company also previewed the new software iOS 6, with a slew of new apps, gadgets and gizmos.
Apr 252012

Q2 sends stocks soaring

Apple’s results are becoming the events of the season, getting better and better each time. This quarter is no different, and after releasing figures that see the company almost double profits from last quarter, prices soar up almost 9%. The report beat on revenue, earnings, and iPhone sales, but iPad sales came in at less than expected. The icing on the cake was net profit, which increased 94% year-on-year. The company posted quarterly revenue of $39.2 billion and quarterly net profit of $11.6 billion, or $12.30 per diluted share. International sales accounted for 64% of the quarter’s revenue. Apple sold 35.1 million iPhones, 11.8 million iPads, 4 million Mac’s, and 7.7 million iPods (which are still on the decline, down 15% from last year).
Our record March quarter results drove $14 billion in cash flow from operations. Looking ahead to the third fiscal quarter, we expect revenue of about $34 billion and diluted earnings per share of about $8.68.
Said Peter Oppenheimer, Apple’s CFO.
Mar 192012

Dividend & share buyback

Apple announces its plan to initiate a dividend and share repurchase program later this year. The very same day, just three days after the new iPad became available, sales top three million, with the device becoming available in over 12 countries this week. Prices lift 2.65%. Apple planned to initiate a quarterly dividend of $2.65 per share at some point in Q4; as well as announcing the authorization of a $10 billion share repurchase program starting in the fiscal year 2013, starting at the end of September. Apple expected the repurchase programme to be executed over three years, with the main goal of neutralizing the impact of dilution from future employee equity grants and employee stock purchase programs.
Combining dividends, share repurchases, and cash used to net-share-settle vesting RSUs, we anticipate utilizing approximately $45 billion of domestic cash in the first three years of our programs. We are extremely confident in our future and see tremendous opportunities ahead.
Said Apple CFO, Peter Oppenheimer. Lucky for Apple, $45 billion is less than a third of the cash the company was expected to bring in over the next three years.
Mar 072012

Apple event

Apple holds a special event where the star of the show is the unveiling of the new iPad. Prices lift by a minor 0.08%, but continue rise over the next few days in anticipation of the March 15 release. Apple released the third generation iPad with a high definition screen and improved graphics performance at a starting price of $499. The first two iPads transformed the market for tablet computers, making it one of the fastest-growing sectors of the computer industry. They might not have the monopoly for long though, after Google and Microsoft start to get in on the tablet game too. The event also saw the launch of the new Apple TV, available on March 16 for $99; and introduced iPhoto.
Mar 052012

25 billion App Store downloads

Apple’s revolutionary App Store reaches another milestone - more than 25 billion apps have been downloaded. The App Store offers more than 550,000 apps to Apple users around the world.
Feb 132012

Facing the Foxconn facts

After a fair bit of controversy involving a series of questionable things going on in Apple’s main factories in China, its announced that the Fair Labour Association will be investigating Apple supplier Foxconn. Prices stay fairly stable, gaining 1.86%. Reports of gruelling workloads, long and tiresome journeys, intimidation, and explosions in factories had been rolling in for some time after it was reported that some workers in these factories had taken their own lives. The Fair Labour Association eventually released a mostly complimentary report about Apple’s progress.
Jan 312012

Final Cut Pro X Update

The Final Cut Pro X v10.0.3, with significant updates, is released. Prices gain 0.77%
Jan 302012


Apple announces that John Browett will be joining the team as the new Senior Vice President of Retail. Browett comes to Apple from European technology retailer Dixons Retail, where he has been CEO since 2007. Prices gain 1.28%.
Jan 242012

Queen of the quarterly’s

Apple makes tech history with $46.33 billion in revenues, and the best quarterly results ever. Prices surge over 6%, taking the stock to a record-breaking opening price of $324.60. Apple’s Q1 boasted a whopping 37 million iPhones sold and double its iPad sales. The company reported a record quarterly profit of $13.06 billion, with earnings per share at $13.87. These results compare to revenue of $26.74 billion and net quarterly profit of $6 billion, or $6.43 per diluted share, in the year-ago quarter.
We are very happy to have generated over $17.5 billion in cash flow from operations during the December quarter. Looking ahead to the second fiscal quarter of 2012, which will span 13 weeks, we expect revenue of about $32.5 billion and we expect diluted earnings per share of about $8.50.
Said Apple’s CFO, Peter Oppenheimer. The Q1 boost even sent Apple to new heights – the hiked up share price nudged out oil giant ExxonMobil to become the most valuable traded company in the world.
Jan 192012

The future of education?

Apple announces an all-new iTunes U App, giving both educators and students everything they need on their Apple device to teach and take entire courses. At the same time, the company modernizes the textbook with iBooks 2 for the iPad.
Dec 122011

Feelin’ like a million downloads

341 days since the Mac Apple store launched, and it has just hit the major milestone of 1 million downloads, which is almost 300,000 a day (and counting).
Dec 112011

Apple and Nokia trade lawsuits

Apple responds to a lawsuit brought against it by Nokia, by filing a countersuit claiming that its Finnish rival infringes 13 Apple patents. Apple claimed that Nokia's infringements included the way its phones connected to a computer, its touch screen menus, and “pattern and color abstraction" in the graphical user interface.
Other companies must compete with us by inventing their own technologies, not just by stealing ours.
Said Apple General Counsel Bruce Sewell. Nokia’s lawsuit, filed in October 2009, claimed that Apple infringed 10 of its patents covering both the way phone calls were made and Wi-Fi access. Shares dipped 0.9% to $194.67.
Dec 092011

Next stop Grand Central

Apple’s fifth store in the Big Apple opens at Grand Central, just in time for the holidays. Prices lose 1.4%.
Apple Grand Central / Apple
Nov 152011

New board member

Apple names Arthur D. Levinson as the Company’s non-executive Chairman of the Board. He has been a co-lead director of Apple’s board since 2005, and has served on all three board committees. It is also announced that Robert A. Iger, who is the President and Chief Executive Officer of The Walt Disney Company, will be joining Apple’s board and will serve on the audit committee.
Nov 012011

Get rocking

Apple announces that GarageBand, its breakthrough music creation app, is now available for iPhone and iPod touch users. Prices gain 2.84%.
Oct 182011

A swing and a miss for Q4

Apple releases its Q4 results, and despite some great numbers, it falls short of expectations. Unlike the past few blockbuster quarters, prices drop 5.59%. Analysts had expectations of around $29.5 billion in revenue, and Apple came in at $28.27 billion. It was still a great quarter, its second best ever, but it was below the Street. The company sold 17.07 million iPhones in the quarter, 3 million less than the quarter before, possibly because people were waiting for the new iPhone 4S – which sold incredibly well in its first few days, but those numbers would only be reflected in next quarter’s results. The company did beat iPad sales expectations though, selling 11.12 million, higher than the 10 million expected. iPod sales, sadly, were down 27% year-over-year. Apple also reached a new milestone, its first $100+ billion year of revenue. The total was reported as $108 billion, with $26 billion in profits.
We are thrilled with the very strong finish of an outstanding fiscal 2011, growing annual revenue to $108 billion and growing earnings to $26 billion. Customer response to iPhone 4S has been fantastic, we have strong momentum going into the holiday season, and we remain really enthusiastic about our product pipeline.
Said Apple’s CEO, Tim Cook.
Oct 172011

4 million sales 4 iPhone 4S’s

In three short days following the iPhone 4S release, Apple sells over four million units. “iPhone 4S is off to a great start with more than four million sold in its first weekend—the most ever for a phone and more than double the iPhone 4 launch during its first three days,” said Philip Schiller, Apple’s senior vice president of Worldwide Product Marketing. “iPhone 4S is a hit with customers around the world, and together with iOS 5 and iCloud, is the best iPhone ever.”
Oct 102011

One million pre-orders

Excitement for the iPhone 4S is growing, and in one single day, pre-orders for the device top one million, passing the last single day pre-order record of 600,000 held by the iPhone 4. Prices jump over 5% (perhaps in anticipation).
246-You / Wikimedia Commons
Oct 052011

The loss of a legend

After a long fight with pancreatic cancer, Apple founder Steve Jobs sadly passes away on October 5, just one day after the October WWDC event. Jobs had led a cultural transformation that was unmatched, and passed away at just 56. Survived by his wife Laurene and four children, his death left an enormous gap not only in the software space, or at the company that he founded all those years ago, but on the global stage. He changed the face of computing, of music, he revolutionized the way people used and consumed technology. He was the original iconic CEO, building up a mythology around himself that paved the way for others to follow – Elon Musk, Mark Zuckerberg, even Bill Gates. He was a true visionary, far ahead of his time, and he created a company that by August 2020 would be valued at over $2 trillion: the most valuable publicly listed company in the world, and of all time. That’s some legacy. “Steve was never ironic, never cynical, never pessimistic,” his sister Mona Simpson said in her eulogy at his funeral. “He believed that love happened all the time, everywhere.” He worked at death like he worked at life, and he left this world on his own terms.
Death didn’t happen to Steve, he achieved it.
Said Mona. And perhaps he went onto even bigger things. On his deathbed, in his last moments, before he embarked on his final journey, his family say that he looked at them all in turn, and then looked beyond them, over their shoulders. What did he see? We’ll never know, but it would be nice to think that it was something wonderful. His final words were: “OH WOW. OH WOW. OH WOW.” Who knows what he could have achieved, had he had more time? His death left the world a poorer place. Gone too soon: RIP to a legend.
Matthew Yohe at en.wikipedia / Wikimedia Commons
Aug 242011

Steve Jobs resigns

A shock wave goes through the Appleverse as Steve Jobs resigns as CEO of Apple, naming Tim Cook as his successor. Prices drop in after hours trading but gain during the day, only losing 0.65% overall. Apple didn't make any mention of Jobs’ health in the announcement, but it played a part in his letter of resignation to the board. Jobs had been on medical leave since January, leaving the company to Tim Cook in the meantime. Although it was his third leave of absence, he had continued to be involved in Apple’s major strategic decisions while Cook focused on the day-to-day.
I have always said if there ever came a day when I could no longer meet my duties and expectations as Apple's CEO, I would be the first to let you know. Unfortunately, that day has come.
Wrote Jobs. Sad times.
Jul 202011

Computer update

Apple announces the updated Mac mini, the world’s first thunderbolt display, an updated MacBook Air, and announces that Mac OS X Lion is available on the App Store. Prices rise almost 3%, but a lot of that is because of smashing Q3 results the day before.
Jul 192011

Crushing Q3

After a bull run of a month, Apple releases its Q3 earnings and smashes it out the park with iPhone and iPad sales doubling, sending prices up almost 3%. Apple continues to impress, selling more than 20 million iPhones, along with some very impressive iPad sales numbers, but sadly it seems to be in with the new and out with the old with iPod sales slipping 20%. Added up, Apple reported $28.57 billion in revenue and a record quarterly net profit of $7.31 billion.
We’re thrilled to deliver our best quarter ever, with revenue up 82 percent and profits up 125 percent. Right now, we’re very focused and excited about bringing iOS 5 and iCloud to our users this fall.
Said Steve Jobs.
Jul 072011

15 billion downloads

Apple’s revolutionary App Store has facilitated the download of over 15 billion apps. Prices increase 1.55%.
In just three years, the revolutionary App Store has grown to become the most exciting and successful software marketplace the world has ever seen.
Said the company’s Senior VP of Worldwide Marketing, Philip Schiller.
Thank you to all of our amazing developers who have filled it with over 425,000 of the coolest apps and to our over 200 million iOS users for surpassing 15 billion downloads.
Jun 212011

Final Cut Pro X

Apple is changing the video editing game, and announces the updated Final Cut Pro X, available on the App Store for $299.99. Prices gain just over 3%.
Jun 062011

WWDC ‘11

The Worldwide Developers Conference (WWDC) brings a number of exciting things, but prices seem to decline steadily during the day. Some of the new releases included the Mac OS X Lion, the new version of the notification centre, and the introduction to iCloud. Some milestones the company announced too: 15 billion songs have been sold via iTunes, and iOS users send more than 1 billion Tweets a week.
May 312011

iWork is spreading the love

Apple announces that iWork productivity apps, Keynote, Pages and Numbers, are available for iPhone, iPod touch, and iPad.
May 112011

Mobile privacy hearings

Following a controversy surrounding how Apple collects and uses location data, representatives are called before a Senatorial sub-committee to answer questions on whether our phones are turning into the new Big Brother. Prices lose 0.64%. During the testimonies, the Senators were quick to emphasize that they were very much aware of the benefits of the technology Apple had created and were not trying to stifle its innovation and growth. However, Senator Leahy pointed out that the “digital age can do some wonderful, wonderful things for all of us… but American consumers and businesses face threats to privacy like no time before.”
May 032011

iMac update

Apple announces the updated version of its signature iMac. Starting at $1,199, the new iMac is up to 70 percent faster and new graphics deliver up to three times the performance of the previous generation, with next generation quad-core processors, powerful new graphics, groundbreaking high-speed Thunderbolt I/O technology and a new FaceTime HD camera. Prices increase 0.55%.
Apr 292011

Microsoft match-point

Microsoft releases its quarterly earnings, and for the first time ever Apple has beaten them in profits, taking the lead in their ongoing rivalry. Apple released pretty blockbuster quarterly earnings last week, bagging $5.99 billion compared to Microsoft’s $5.23 billion.
Apr 272011

Q&A time

In the face of concerns over how users’ data is stored and used, Apple releases a Q&A on location data, answering questions like “Why is Apple tracking me?” (according to Apple, it's not and never will), and “Can Apple locate me based on my geo-tagged Wi-Fi hotspot and cell tower data?” This was a response to researchers Alasdair Allan and Pete Warden, who announced at the Where 2.0 Conference in Santa Clara on April 20 that iPhones and 3G iPads were storing records of where their users were and where they’d been. Google also stores lists and data that are similar on Android devices, so obvs there were questions circling.
Apr 202011

Sales (and shares) are up

Apple releases its Q2 results, and numbers are up in a big way thanks to increased sales. The share price follows suit, up 2.42%. Apple reported profits of $5.99 billion on $24.67 billion in revenue, almost double last year's numbers. Profit margins held steady at 41.4%, so it seems high sales numbers were largely to thank for that. The company sold 3.76 million Macs (a quarterly record), 18.65 million iPhones, and 9.02 million iPods. Due to “the mother of all backlogs”, iPad sales came in lower than expected with 4.69 million sold.
Mar 232011

Staff switcheround

Apple announces that Senior VP of Mac Software Engineering, Bertrand Serlet, will be leaving the company; to be replaced by Craig Federighi who will report into Jobs. Prices decrease marginally, less than 1%.
Mar 022011

One last Job

Steve Jobs makes a surprise appearance at Apple’s March special event unveiling a host of new products, including the iPad 2, and sending prices up over 2% overnight. Jobs interrupted his medical leave, which had started again in January 2011, to introduce the much anticipated new iPad, which was apparently “lighter, faster, and thinner.”
Ben Stanfield / Wikimedia Commons
Feb 242011

Updated MacBook Pro

Apple announces the update of the MacBook Pro with next generation processors and graphics, high-speed Thunderbolt I/O technology and a new FaceTime HD camera. Prices hardly move on the news.
Feb 152011

Subscription time

The App Store begins offering subscriptions through the Store to publishers of content-based apps, such as magazines and video. Users are billed through the App Store.
Jan 222011

10 billion app store downloads

More than 10 billion apps have now been downloaded by Apple’s revolutionary App Store by over 160 million users. The 10 billionth app downloaded was purchased by a one Gail Davis of Orpington, Kent, UK. As the winner, lucky Gail Davis received a $10,000 iTunes Gift Card.
Jan 182011

Q1 results

Apple posts Q1 results, showing its highest revenue and earnings ever with revenue increasing 71% and earnings increasing 78%. Prices stay steady, gaining just 0.53%. The Company posted record revenues of $26.74 billion and record net quarterly profit of $6 billion, or $6.43 per diluted share. Apple sold 4.13 million Macs, 16.24 million iPhones, 19.45 million iPods, and 7.33 million iPads during the quarter.
We couldn’t be happier with the performance of our business, generating $9.8 billion in cash flow from operations during the December quarter. Looking ahead to the second fiscal quarter of 2011, we expect revenue of about $22 billion and we expect diluted earnings per share of about $4.90.
Said Peter Oppenheimer, Apple’s CFO.
Jan 172011

Jobs takes more medical leave

Apple releases Job’s letter to the companyannouncing that he will take another period of medical leave to focus on his health. Prices drop over $2 over the weekend, which is better than the 6% they fell the last time this happened. The CEO’s health had been a topic of speculation for years, after being diagnosed with pancreatic cancer in 2004, and he had already taken a six-month leave of absence in 2009. As with 2009, Tim Cook was left in charge: good news, given that during his last tenure stock rose by nearly 60%.
Jan 062011

Mac App Store open

The new Mac App Store is open for business , and has over 1,000 free and paid apps to users. The Mac App Store offers apps in Education, Games, Graphics & Design, Lifestyle, Productivity, Utilities and other categories - and hits one million downloads in one day.
Dec 212010

Branching out

Apple likes dabbling in lots of different kinds of tech, and its Apple TV sales are due to top one million this week.
Nov 222010

New software

The new iOS 4.2 software is now available for iPad, iPhone, and iPod touch, bringing over 100 new features. Share prices go up over 2%.
Nov 172010

New member

It is announced that Dr. Ronald D. Sugar is to join to Apple’s Board of Directors. Dr. Sugar will serve as the Chair of the Audit and Finance Committee.
Ron is an engineer at heart, who then became a very successful business leader. We are very excited to welcome him to Apple’s Board. In addition to having been the CEO of a high-tech Fortune 100 company, Ron has a Ph.D. in engineering and has been involved in the development of some very sophisticated technology.
Said Steve Jobs.
Oct 262010

Here comes the sun

For the first time, music by The Beatles will be available on iTunes.
Oct 262010

Come and get it China

Apple introduces the Chinese online Apple store, making shopping easier for one of the company’s biggest markets. Prices stay steady.
Oct 202010

October Event

Apple is on an absolute tearer and in yet another event, releases a bevy of treats leading up to Christmas: including a new MacBook, a shiny and improved FaceTime, and more.
Oct 182010

Record making quarter

Apple releases its Q4 results showing record Mac, iPhone and iPad sales; as well as its highest revenues and earnings ever. Prices reach an all time high of $227.86. The company easily beat earnings estimates, posting $20.34 billion in revenue and a net quarterly profit of $4.31 billion - both of which were new records for Apple. The company sold 3.89 million Macs during the quarter, 14.1 million iPhones, 9.05 million iPods, and 4.19 million iPads.
We are blown away to report over $20 billion in revenue and over $4 billion in after-tax earnings—both all-time records for Apple. iPhone sales of 14.1 million were up 91 percent year-over-year, handily beating the 12.1 million phones RIM sold in their most recent quarter. We still have a few surprises left for the remainder of this calendar year.
said Steve Jobs, Apple’s CEO. Apple also sold 2 million more iPhones last quarter than BlackBerry’s sold by RIM (BlackBerry’s were a BIG deal in 2010) and Jobs notes that “we still have a few surprises left for the remainder of this calendar year” (spoiler: we only have to wait a few more days).
Sep 032010


Ping, which came out just a few days ago, has topped one million users in just 48 hours. Prices have increased slowly but steadily since then, gaining just less than 3%.
Sep 012010

September event

September starts with a bang as Apple hosts a live stream event (very 2020 of them) introducing iTunes with Ping, a new social network; the second-generation Apple TV, and a redesigned iPod shuffle, nano, and touch; leading to an increase of just under 3%. September starts with a bang as Apple hosts a live stream event (very 2020 of them) introducing iTunes with Ping, a new social network; the second-generation Apple TV, and a redesigned iPod shuffle, nano, and touch; leading to an increase of just under 3%.
Aug 242010

U Downloads

iTunes U downloads have topped 300 million in just over three years, becoming a world-class educational catalogue. Prices decline 2.39%.
Jul 272010

Product unveilings

Apple unveils a slew of products, including the iMac line, the new Mac pro, and new cinema display, and the next day updates Safari 5. Prices go up 1.85%.
Jul 202010

Quarterly boost

Apple’s Q3 results come out and prices spike, but ultimately only gain just under 1%. Apple generated $15.7 billion in sales and a net quarterly profit of $3.25 billion, or $3.51 per diluted share. After the success of the iPad and new iPhone 4, which came out in June, the impressive revenue wasn’t a huge surprise. Gross margin was 39.1% compared to 40.9% in the same quarter a year ago.
It was a phenomenal quarter that exceeded our expectations all around, including the most successful product launch in Apple’s history with iPhone 4. iPad is off to a terrific start, more people are buying Macs than ever before, and we have amazing new products still to come this year.
Said Steve Jobs, Apple’s CEO. The company generated over $4 billion in cash over the quarter, and predicted revenues of $18 billion in Q4.
Jun 282010

Selling fast

The new iPhone 4 is selling like hot potatoes, and just three days after its launch on June 24, over 1.7 million copies have been sold. Prices are steady, increasing less than 1%.
Jun 222010

3 million iPads

Apple sells its three millionth iPad, just 80 days after it was released. Prices increase slightly over 1%.
Jun 152010

Mini Mac

Apple unveils the redesigned Mac mini and prices go up just over 2%.
Jun 072010

Product releases

Apple releases Safari 5 and the iPhone 4. Prices lose just under 2%.
May 262010

Alpha dog Apple

There’s a new alpha in the house, with Apple’s market cap edging past long-time rival Microsoft (MSFT). Just a month before, Microsoft’s market cap exceeded Apple’s by almost $25 billion, making this takeover an impressive one. What it does mean is that Wall Street has more confidence in Apple’s growth prospects, especially with the successful launch of new products like the iPad.
Apr 202010

Q2 bump on the back of strong Mac sales

Apple announces its Q2 results, posting a revenue of $13.50 billion and a net quarterly profit of $3.07 billion, or $3.33 per diluted share. There is no big movement on the share price, but it loses around 1%. Revenue and profits were up from $9.08 billion and $1.62 billion from the same quarter the year before. Apple sold almost 3 million Macs, a 33% unit increase from a year ago, and 8.75 million iPhones, showing 131% unit growth. The only device to post a decline in sales was the iPod, of 1%. Not bad. Jobs announced that this was the company’s “best non-holiday quarter ever, with revenues up 49% and profits up 90%,” and promised a number of new exciting products coming up this year.
Apr 032010

iPad release

Apple finally starts selling its state-of-the-art iPad, basically creating the world tablet market and selling over 3,000 in the first day, one million a month later, and two million in less than 60 days. Though the share price made no big sudden moves, the stock rose over 10% by the end of the month. Not only that, but Apple was so overwhelmed with demand for the product that on April 14, the company postponed the device's international debut by more than a month for lack of supply.
iPad / Apple support
Mar 022010

Apple suing HTC

Apple announces that it will be suing Taiwanese smartphone maker HTC for patent infringement surrounding the iPhone user’s interface, underlying architecture, and hardware. Steve Jobs was quoted as saying that the company “can sit by and watch competitors steal our patented inventions, or we can do something about it. We’ve decided to do something about it”. HTC develops and manufactures some of the most successful Android headsets, but it’s not the first time Apple has gone after a mobile phone competitor, having accused Nokia (NOKIA) of a patent hold-up the year before.
Feb 252010

iTunes store sells 10 billion songs

Apple’s own iTunes, which was released in 2001, hits a milestone of 10 billion purchased or downloaded songs. Prices remain steady with a 0.68% increase. The lucky 10 billionth song was the iconic “Guess Things Happen That Way” by Johnny Cash, and was bought by one Louie Suler who walked away with a $10,000 iTunes gift card.
Jan 272010

iPad announcement

Apple introduces the brand new iPad, at the breakthrough price of $499. Unfortunately, share prices aren’t quite as breakthrough, and go up less than 1%. The iPad was quite a revolutionary release for Apple, and Steve Jobs called it the company’s “most advanced technology in a magical and revolutionary device for an unbelievable price”.
Jan 252010

All-time highest revenue and profit

Apple releases Q1 results, with the company’s highest ever revenues and profits, standing at $15.68 billion and $3.38 billion respectively. The stock stays fairly steady, going up 2.69%.
Jan 052010

3 billion apps downloaded

Apple announces that over 3 billion apps have now been downloaded off its App Store - which only launched 18 months ago - by iPhone and iPad users all around the world. Prices stay much the same, going up just 0.17%.
Oct 192009

iPhone and iPod boost shares

Apple says its annualnet income jumped 70% to $8.2 billion as the firm boosts momentum in its Mac business while its iPhone continues to lead smartphone sales. Full-year revenue lifts 32% to $43 billion. In the final quarter of the year, Apple sold 3.05 million Macs, up 17% on the year-ago quarter. It sold 10.2 million iPods, representing an 8 % unit decline from the year-ago quarter. The firm sold 7.4 million iPhones in the quarter, up 7% on the year-ago quarter. Shares lift 1% to $189.86. The stock had already nearly doubled on the year, passing $200 for the first time since late 2007, and hitting $204.92 two days later on October 21.
Aug 032009

Google boss leaves Apple board

Apple announces that Google CEO Dr Eric Schmidt is resigning from Apple’s board, a position he has held since August 2006. Shares lift 1.9 % to $166.43.
Eric has been an excellent Board member for Apple, investing his valuable time, talent, passion and wisdom to help make Apple successful.
Said Steve Jobs, Apple’s CEO, in a statement.
Unfortunately, as Google enters more of Apple’s core businesses, with Android and now Chrome OS , Eric’s effectiveness as an Apple Board member will be significantly diminished, since he will have to recuse himself from even larger portions of our meetings due to potential conflicts of interest. Therefore, we have mutually decided that now is the right time for Eric to resign his position on Apple’s board.
Jul 212009

New iPhone leads to strongest summer quarter

Apple reports its best summer quarter as consumers snap up its iPhone 3GS. Profit also grew 14.6% from a year ago to $1.2 billion, as the firm posted its best quarter outside the key Christmas period. Sales came in at $8.3 billion, up 12%. Apple said it sold 5.2 million, a more than sevenfold jump, iPhones, 10.2 million iPods, a 7% fall and 2.6 million Macintosh computers, up 4%. Demand for its iPhone 3GS was so great that the firm was forced to delay by a few weeks the introduction of the device in roughly 60 countries as it boosted production. It was available in 18 countries when the firm released its financial report. Apple chief executive Steve Jobs said in a statement:
We’re making our most innovative products ever and our customers are responding. We’re thrilled to have sold over 5.2 million iPhones during the quarter and users have downloaded more than 1.5 billion applications from our App Store in its first year.
Shares slip 0.9% to $151.51, but Apple stock has surged 67% so far this year.
Jun 232009

Jobs undergoes transplant

Apple CEO Steve Jobs undergoes a liver transplant earlier in the spring. Shares fall 2.5% to $134.01.
Mr Jobs is now recovering well and has an excellent prognosis.
Confirmed the Methodist University Hospital Transplant Institute in Memphis. The announcement came three days after The Wall Street Journal reported that Jobs underwent the transplant two months ago in Tennessee.
Steve continues to look forward to returning to Apple at the end of June, and there is nothing further to say.
Said an Apple spokesman.
Jun 222009

Another million iPhones sold in three days

Apple says it has sold over one million iPhone 3GS models through Sunday, June 21, the third day after its launch. Shares slip 1.5% to $137.37. The new iPhone 3GS is the firm's fastest iPhone yet, up to twice as fast as iPhone 3G with longer battery life.
Apr 222009

Sales double

Apple posts another set of strong quarterly results that saw iPhone sales more than double. However, shares slip 0.2% to $121.51, with investors unmoved by Apple's strong earnings. The company reported a 15% jump in net income to $1.21 billion, while sales rose 8.7% to $8.2 billion during the second quarter. It turned in earnings of $1.33 per share, ahead of analysts forecast of $1.09 per share. iPhones sold 3.79 million during the period, jumping 123% over the year-ago quarter. The firm shipped 11.01 million iPods, up 3% and 2.2 million Macs, a 3%fall over the same period a year ago. CFO Peter Oppenheimer, said in a statement:
Apple’s financial condition remains very robust, with almost $29 billion in cash and marketable securities on our balance sheet. Looking ahead to the third fiscal quarter of 2009, we expect revenue in the range of about $7.7 billion to $7.9 billion and we expect diluted earnings per share in the range of about 95 cents to $1.00.
Jan 212009

Record quarterly profits

Apple posts record quarterly profits and sales despite the global financial crisis, driven by iPod and iPhone sales. Shares lift 6% to $82.83. The firm reported earnings up 2% at $1.61 billion, while sales rose 6% to $10.2 billion. The business reported profits of $1.78 a share, which beat Wall Street's estimate of $1.39 a share. Apple sold 2.5 million Macs during the quarter, up 9% over the year-ago quarter. It sold a record 22,727,000 iPods during the period, up 3%. iPhone sales jumped to 4.4 million, 88% higher over the year-ago quarter. Apple chief executive Steve Jobs said in a statement:
Even in these economically challenging times, we are incredibly pleased to report our best quarterly revenue and earnings in Apple history — surpassing $10 billion in quarterly revenue for the first time ever.
Apple executives refused to provide analysts in a meeting a further update about the health of the firm's CEO, who had taken a six-month leave of absence for medical reasons. Also, chief operating officer Tim Cook did not answer a question about whether he was being groomed to be the company's top executive.
Jan 142009

Jobs takes medical leave

CEO Steve Jobs says he is taking nearly six months of medical leave because his health problems are “more complex” than originally thought. Stock closes down 2.7% at $85.33. The email to staff from the founder came a little more than a week after Jobs sent a company-wide note saying his severe weight loss would not keep him from daily duties. This reignites speculation that he may not be able to resume his role, and that investors are being kept in the dark about Jobs' condition.
Is there something new he didn’t know before, or did his doctors just say, ‘You can’t push it anymore’?
Said Scott Rothbort, president of LakeView Asset Management, a longtime owner of Apple shares. Since his first full year as chief executive in 1998, Apple sales have soared, from $5.9 billion to $32.5 billion last year. Profit ballooned from $309 million to $4.83 billion. And Apple’s stock price has surged 1,788% since August 1997, when Jobs became interim CEO.
Jan 052009

Jobs reveals illness

Apple CEO Steve Jobs, after months of concern about his health, says he is suffering from a nutritional ailment that has caused weight loss, but that he plans to remain at the head of the firm during his treatment. Shares lift 4.2% to $94.58, as investors are cheered that Jobs will still lead the company.
I have been losing weight throughout 2008. The reason has been a mystery to me and my doctors. After further testing, my doctors think they have found the cause - a hormone imbalance that has been robbing me of the proteins my body needs to be healthy.
Said Jobs, 53, in February. He added it may take until at least late spring to regain weight. Jobs had successful surgery for pancreatic cancer in 2004, but his weight loss at public events throughout 2008 caused alarm among investors, who saw him as critical to Apple's future. Speculation mounted that he might have to give up running Apple and hand the top job to the chief operating officer Tim Cook. Since his return in 1997, Jobs had been the driving force of the iPod and iPhone, which turned the business from a computer firm near collapse to a consumer electronics powerhouse. Apple released a statement: “It is widely recognized both inside and outside of Apple that Steve Jobs is one of the most talented and effective CEOs in the world. As we have said before, if there ever comes a day when Steve wants to retire or for other reasons cannot continue to fulfil his duties as Apple’s CEO, you will know it."
Dec 172008

Jobs ducks speaking commitments

Apple announces that CEO Steve Jobs won’t be giving the keynote speech at the Macworld conference in San Francisco for the first time since he returned to Apple in 1997, reigniting fears about his health. Stock closes down 6.6% at $89.16.
Oct 212008

Apple 'on a roll'

Apple says its net income jumped 37% to $4.8 billion as the firm rides the wave of consumer enthusiasm for its smartphones, but warns of a slowdown in sales due to effects of a slowing consumer economy. Sales jump 35% to $32.5 billion
Some remarkable things are happening, set against the backdrop of the global economic slowdown.
Said Apple CEO Steve Jobs to analysts.
This company is on a roll and a very consistent one, where they are gaining market share at two to three times the rate of the PC industry.
Said Charles Wolf, a financial analyst at Needham & Company. Apple’s stock dropped 7.1% that day, closing at $91.49 before the results were announced, as several Wall Street analysts predicted that the firm would suffer along with the consumer economy from the credit crisis and recent stock market downturn.
Oct 032008

False Jobs heart attack scare panics markets

Apple shares fall sharply after a false report claims that CEO Steve Jobs had suffered a heart attack. The story on CNN-owned website iReport said:
Jobs was rushed to the ER just a few hours ago after suffering a major heart attack.
Apple's stock fell 10% in 10 minutes, cutting the company's market value by at least $4.8 billion in the first hour of trading. An Apple spokesman denies the rumor, which saw the stock gain ground to end the session 3% lower at $97.07. Concern about the health of Jobs has dogged Apple all year after the firm's founder has been seen at public events throughout 2008 looking drawn. This has caused alarm among investors who see him as critical to Apple's future. Jobs had successful surgery for pancreatic cancer in 2004. Since the founder returned in 1997, Jobs has been the driving force behind the iPod and iPhone, that turned the business from a computer firm near collapse to a consumer electronics powerhouse.
Jul 212008

Analysts ask questions about Jobs’ health

Apple Macs and iPods continue to dominate their computer and music sectors, but investors worry over Steve Jobs health and conservative sales estimates for the coming quarter. The firm’s profits rose 31% to $1.1 billion, while sales lifted 38% to $7.5 billion, as results were released after the market closed. Apple sold 2.5 million Macs during the quarter, up 41%. Many of these were its most profitable high-end models. It sold 11 million iPods, up 12%. Its iPhone sold 717,000, up 165% on the year-ago quarter. However, investors openly discussed the health of chief executive Steve Jobs, who looked gaunt during a public event last month. Pressed by analysts, Apple CFO Peter Oppenheimer said Jobs would remain as CEO and that his health was “private.” But ThinkPanmure senior research analyst Vijay Rakesh said:
He’s in the public domain. He’s the CEO. People would like to know the situation with Steve Jobs. He’s so pivotal.
Apple, traditionally conservative at forecasting, estimated third-quarter sales would come in at $7.8 billion. Wall Street expected $8.3 billion. Shares lifted 2.6% to $162.02 on the first day of trading after results were released.
Jul 142008

One million second-generation iPhones sold in three days

Apple sells its one millionth iPhone 3G on Sunday, just three days after its launch on Friday, July 11.
It took 74 days to sell the first 1 million original iPhones, so the new iPhone 3G is clearly off to a great start around the world.
Jobs added. Analysts at RBC Capital Markets said lower prices, pent-up demand and expanded distribution had contributed to increased interest, adding that buyers will be frustrated by limited stock and logistical problems caused by launching across 28 mobile operators in 22 countries. Shares dip 0.8% to $172.88.
Jun 192008
Jun 092008

Second generation iPhone launched

Apple introduces its second iPhone,the iPhone 3G, with 3G networking, that a visibly thin CEO Steve Jobs says is "twice as fast at half the price". Shares dip 2.2% to $181.61. The device came with built-in GPS the latest for Microsoft Exchange ActiveSync software, priced at between $199 and $299. Anticipating heavy demand, the firm said the phone will be available in over 70 countries before the end of the year. But Jobs' gaunt appearance during the presentation reignited fears about his health. Apple said he had been plagued by a “common bug.”
Apr 232008

Apple trades strongly amid financial crisis

Apple smashes expectations about its ability to trade through a downturn, after its second quarter profits jump 36% to $1.05 billion. The firm's profits came in at $1.05 billion, while sales lifted 43% to $7.51 billion, as results were released after the market closed. Wall Street expected sales to peak at $7 billion. Apple sold 2.3 million Macs in the period, 51% more than in the same period a year ago. However, iPod sales were largely flat at 10.6 million units, edging up 1%. It sold 1.7 million iPhones. Apple chief financial officer Peter Oppenheimer said in a statement:
Looking ahead to the third quarter of fiscal 2008, we expect revenue of about $7.2 billion and earnings per diluted share of about $1.00.
Shares rose 3.7% to $168.94 in the first day of trading after the results were released.
Apr 092008

iTunes largest music retailer in US

iTunes overtakes Wal-Mart to become the largest music retailer in the US, less than five years after it was first launched. Shares lift 2.8% to $151.61. The service now has over 50 million customers. iTunes has sold over four billion songs and features the world’s largest music catalog of over six million songs.
Jan 222008

Strong Mac and iPod sales

Apple earns $1.58 billion in the first quarter of fiscal 2008, as Mac computers put in a strong performance over the Christmas period. Profits jumped 58% compared to the quarter a year ago, while sales lifted 35% to $9.6 billion. Apple shipped 2.3 million Macs, in the period, up 47% over the year-ago quarter. It sold 22.1 million iPods, 17% higher than a year ago. Apple chief executive Steve Jobs said in a statement:
We have an incredibly strong new product pipeline for 2008, starting with MacBook Air, Mac Pro and iTunes Movie Rentals in the first two weeks.
However, investors were worried about the firm’s projects for the second quarter. Apple said it expected revenue of about $6.8 billion for the second quarter, as the country picks its way through the developing financial crisis. Wall Street's consensus was $7 billion. Apple chief financial officer Peter Oppenheimer put down the reasons for his lower forecast, suggesting that the firm expects an overall fall in software sales as well as the normal slowdown in business after Christmas. Some analysts backed Oppenheimer's view, expecting computer companies to be hit harder by the crisis than other parts of the economy as their products are classed by consumers as high-ticket items. Shares fell more than 11% in after-hours trading as investors fretted over its prospects. Apple shares fell $5.72, or 3.5%, to close at $155.64. They were down more than $17 in after-hours trading.
Jan 152008

World’s thinnest notebook

Apple introduces the MacBook Air laptop computer, which it bills as the world’s thinnest notebook. The machine measures 0.16-inches at its thinnest point, while its maximum height of 0.76-inches is less than the thinnest point on competing notebooks. Battery life is 5 hours. The device, priced at $1,199, is a statement that the firm can still compete on its home turf. Shares dip 5.5 % to $169.04.
Oct 222007

iPhone beats expectations

Apple's net income jumps 75% to $3.5 billion in the year, compared to 12 months ago, as its Macs and iPods sell well, and iPhones beat expectations. Annual sales lift 24% to $24 billion. In the fourth quarter, Apple shipped 2.2 million Macs, up, 34% growth over the year-ago quarter. It sold 10.2 million iPods during the quarter, representing 17% growth over the year-ago quarter. New quarterly iPhone sales were 1.1 million, bringing total 2007 sales to 1.4 million. Shares lift 2.3 % to $174.36.
Sep 102007

One million iPhones

Apple sells its one millionth iPhone, just 74 days after its introduction on June 29.
One million iPhones in 74 days — it took almost two years to achieve this milestone with iPod. We can’t wait to get this revolutionary product into the hands of even more customers this holiday season.
Said Steve Jobs, Apple’s CEO in a statement. Shares slip 3.8% to $136.71.
Jul 312007

iPhone, poor connection

Customer's say they cannot turn on their Apple iPhones they have registered with AT&T in what turns out to be a PR blunder. Apple shares dip 6.8% to $131.76. The telecom's carrier reported that it activated 146,000 iPhone subscribers on July 29 and 30, but this left tens of thousands of customers unable to connect to the network for several days.
Jul 252007

iPhone activation glitch

Strong Mac and iPod sales see the firm's Q3 profits jump 77% to $818 million. The business also moved to calm investor fears about early sales of its new iPhone. Earlier in the week AT&T, which services the phone, said it had activated just 146,000 iPhones in the day and a half since its release. But Apple said it had in fact sold 270,000 iPhones in that period, and still stood by its plans to sell 1 million iPhones this quarter, and 10 million phones by the end of the year. Shares fall 1.5% to $137.26. The firm sold 9.8 million iPods during the quarter, up 21% from a year ago, and shipped 1.8 million Macs, up 33%.
Jun 292007

iPhone launches, fans camp outside stores

Apple bets big on the launch of the iPhone. All 164 Apple retail stores in the US stay open until midnight, with customers only allowed to buy up to two iPhones on a first-come-first-served basis. Hundreds of fans camp overnight outside Apple and AT&T stores to be first to get the gadget. The following day, on Saturday morning, iPhone customers were able to learn how to get the most out of the device with free workshops at Apple retail stores. Every Apple retail store offered support for new iPhones at the Genius Bar and personal training through Apple’s new One to One program. Shares lift 1.2% to $122.04, and a further 10 over the next three sessions.
Apr 252007

Board backs Jobs over stock options

Apple tops forecasts in what is usually a quiet quarter, with profits up by 88% on strong Mac and iPod sales, while the firm’s board backs Steve Jobs over a share options scandal. Profits hit $770 million, while sales lifted by more than 20% to $5.26 billion in the second quarter, compared to the same period a year ago. Wall Street expected sales of $5.17 billion. Apple sold 1.5 million Macs, up 36%, a record for the firm. It sold 10.5 million iPods during the quarter, a 24% lift. Sales of iPods and music through iTunes accounted for 44% of the company's sales in the quarter, with Macs making up the rest.
The Mac is clearly gaining market share, with sales growing 36% — more than three times the industry growth rate. We're very excited about the upcoming launch of iPhone in late June, and are also hard at work on some other amazing new products in our pipeline.
Said Apple chief executive Steve Jobs in a statement. Apple board members backed CEO Steve Jobs after a Securities and Exchange Commission (SEC) probe into the firm over backdated stock options ended, uncovering allegations that the tech founder was aware of the practice and was granted these options. Former Apple CFO, Fred Anderson, told the SEC that he warned Jobs about the backdated stock option grants in 2001. Anderson's lawyer said his client was told by Jobs that the board had given its prior approval and that the board would legally verify it. The lawyer in a statement said: "Fred relied on these statements by Mr. Jobs and from them concluded the grant was being properly handled." Anderson settled his case with the SEC without admitting to any wrongdoing. But the SEC filed a lawsuit accusing Nancy Heinen, the former general counsel of Apple, of participating in the fraudulent backdating of stock options granted in 2001 to Jobs and other senior executives. Last October, after a three-month internal investigation, Apple said Jobs did not know about this stock practice, nor did he benefit from it. Six Apple board members, including former Vice President Al Gore and Eric Schmidt, said in a statement: "We are not going to enter into a public debate with Fred Anderson or his lawyer." They added: "The SEC investigated the matter thoroughly and its complaint speaks for itself, in terms of what it says, what it does not say, who it charges, and who it does not charge. We have complete confidence in the conclusions of Apple’s independent investigation, and in Steve’s integrity and his ability to lead Apple." Shares lifted 2.3 % to $95.35, suggesting investors believed Jobs would survive the scandal.
Apr 092007

Apple sells 100 million iPods

Apple sells 100 million iPods, making the device the fastest selling music player in history. The player first went on sale five-and-a-half years ago, in November 2001, and since then Apple has introduced more than 10 new iPod models, including five generations of iPod, two generations of iPod mini, two generations of iPod nano and two generations of iPod shuffle. Along with iTunes, the iPod transformed how tens of millions of music fans listened to music. Shares dip 1% to $93.65.
Feb 052007

Apple and The Beatles in court once more

Apple and The Beatles-owned Apple Corps announce a settlement of their long-running trademark dispute under which Apple will own all of the trademarks related to “Apple” and will license certain of those trademarks back to Apple Corps for their continued use. Reports said Apple paid Apple Corps $500 million for the right. This is the fifth time the two firms have landed in court over the use of the name. Apple CEO Steve Jobs said:
We love the Beatles, and it has been painful being at odds with them over these trademarks. It feels great to resolve this in a positive manner, and in a way that should remove the potential of further disagreements in the future.
Apple Corps is jointly owned by Paul McCartney, Ringo Starr, John Lennon’s widow Yoko Ono and the estate of George Harrison. Shares slip 1% to $83.94.
Jan 172007

Investors expect more from iPod sales

Apple's profits jump to over $1 billion in the latest quarter thanks to strong iPod sales over the Christmas period. The firm posted Q1 net income up 77% compared to the same period a year ago, while sales climbed by a quarter to $7.1 billion. Analysts had expected revenue of $6.42 billion. The firm sold 21.1 million iPods, up 50% from a year ago, and shipped 1.6 million Macs, up 28%.
We generated over $1.75 billion in cash during the quarter to end with $11.9 billion. Looking ahead to the second fiscal quarter of 2007, we expect revenue of $4.8 to $4.9 billion and earnings per diluted share of 54 cents to 56 cents.
Said Peter Oppenheimer, Apple’s CFO. But even with the strong results shares of Apple fell 2.2% to $94.95, though its stock had risen 12% over the past two weeks. "Investors are disappointed by the number of Macs shipped last quarter," said Piper Jaffray analyst Gene Munster. "People were hoping for 1.75 million Macs and we got 1.6 million."
Jan 092007

Apple debuts iPhone

Apple debuts its "revolutionary" iPhone, at the Macworld Expo in San Francisco. It is three products in one, a phone, an iPod and a high-end web and email service, sending shares up 8.3 % to $92.57. But what put this smartphone ahead of everything else in the field was its intuitive touch-screen display that made it easy to use, taking it out of the hands of geeks and into the pockets of ordinary users, who could afford the $499 to $599 price when it went on sale in the US in June. The iPhone, and the Android machines that followed it, wanted to replace everything else in your pocket, and more besides. It came with a camera, flashlights, alarms, credit card facilities, and a range of apps that could tell you everything from how many steps you had taken that day, to where the best bar in town might be.
iPhone is a revolutionary and magical product that is literally five years ahead of any other mobile phone. We are all born with the ultimate pointing device – our fingers – and iPhone uses them to create the most revolutionary user interface since the mouse.
Declared Steve Jobs, Apple’s CEO. Also, at the Expo, Jobs said the Apple Computer company will change its name to simply Apple, reflecting the shift the company had made from being a computer firm to a consumer electronics business.
iPhone / Apple support
Dec 292006

Apple books $84m stock options charge

Apple books a charge of $84 million for misdated options, some of which were awarded to CEO Steve Jobs. The news was part of the tech company's financial reports, which were released on the last possible day of the year, following delays linked to the backdating of stock options. But Apple reiterated that its October internal probe found no misconduct by any current management, including Jobs. The Securities and Exchange Commission was investigating over 100 firms in a stock scandal that involves issuing options to employees at prices more favourable than the stock price at the time. Shares lift 5% to $84.84.
Oct 182006

iPod and Mac sales rocket

Annual net income jumps 54% to $2 billion for the fiscal year ending September 30, 2006, after the firm sold more than 39 million iPods and 5.3 million Macs in the period. Sales lift 39% to $19.3 billion. Shares slip 0.3% to $74.53, as traders take profits. In the final quarter of the year, shipping 1.6 million Macs and 8.7 million iPods during the quarter, representing 30% growth in Macs and 35% growth in iPods over the year-ago quarter, beating market expectations. Its quarterly results are released after markets closed. The continued growth of the iPod ledPiper Jaffray analyst Gene Munster to say that Apple had shifted “from being forever a niche player in the computer business to now being on track to be a legitimate market share player." Apple CFO Peter Oppenheimer said the firm had "finished the year with over $10 billion in cash and to have increased annual revenue by $11 billion in the last two years."
Oct 042006

Jobs apology over stock options

Apple CEO Steve Jobs issues an apology over the stock options backdating scandal that has engulfed over 100 firms this year. Apple shares still rise 1.8% to $75.38, suggesting investors do not believe that Jobs’ admission weakens his position at the company. Jobs was the most prominent Silicon Valley executive to be tarnished by practice, which involved issuing options to employees at prices more favorable than the stock price at the time. The move, which involved complex disclosure and tax issues, was not necessarily illegal, but the Securities and Exchange Commission and Justice Department probed into scores of companies, finding that in many cases their accounting was illegal and not disclosed to shareholders. A handful of executives ended up in court, with some going to prison. Apple was one of the most prominent firms caught up in the scandal that also involved Broadcom Corp, UnitedHealth Group, and Comverse Technology. Apple released a three-month internal inquiry that shows the firm had backdated options on 15 occasions between 1997 and 2002. It added that Jobs was aware of the backdating “in a few instances”, but that he “did not receive or otherwise benefit from these grants and was unaware of the accounting implications”. The company probe also uncovered “serious concerns regarding two former officers in connection with the accounting, recording and reporting of stock option grants”.
I apologize to Apple’s shareholders and employees for these problems, which happened on my watch. They are completely out of character for Apple.
Said Jobs in a statement. Apple's Fred Anderson, a former chief financial officer, resigned from the board over the affair.
Aug 292006

Google boss joins Apple board

In a surprise announcement, Apple says Google chief executive Eric Schmidt, will join its board as a non-executive director.
Like Apple, Google is very focused on innovation and we think Eric's insights and experience will be very valuable in helping to guide Apple in the years ahead.
Apple CEO Steve Jobs said in a statement.
Apple is one of the companies in the world that I most admire.
Added Schmidt. Before Google, Schmidt was chairman and CEO of business software maker Novell. Prior to that, he was chief technology officer at Sun Microsystems. Apple shares slip 0.8% to $66.48.
Guillaume Paumierderivative work: Sven Manguard / Wikimedia Commons
Aug 242006

Battery recall

Apple recalls 1.8 million battery packs from its iBook G4 and PowerBook G4 laptops because of a risk that they could overheat and catch fire. The Apple recall was the second-largest safety recall in the consumer electronics industry, after Dell, which recalled 4.1 batteries the previous week. Both sets of batteries were made by Japan's Sony. Sony said it would take on much of the cost of the Dell and Apple recalls, which it estimated will cost as much as $258 million. The move would have "no material impact" on Apple's finances, according to a spokesman. Shares still edged down 0.7% to $67.81.
Aug 072006

Lackluster Jobs

Apple CEO Steve Jobs delivers a lacklustre keynote address at the Apple’s Worldwide Developers Conference in San Francisco and appears noticeably drawn, reigniting rumours about his health. Since he returned in 1997, Jobs had been the driving force behind the iPod and revamped iMac, which turned the computer firm around from near collapse. Shares fell 1.6 % to $67.21, and a further 5% over the next two trading sessions.
Jul 192006

MacBook and iPod perform strongly

Apple's third-quarter profit jumps 48% to $472 million, as its iPod continues to dominate the digital music market, while its new MacBook laptop contributes with a strong launch. The firm said sales climbed 24% to $4.37 billion, compared to the same period a year ago, as iPod sales lifted 32% to 8.1 million over the three months to 1 July. Mac sales rose 12% to 1.3 million, this compared with industry-wide PC sales up 9.5% over the period, according to research firm International Data.
We’re thrilled with the growth of our Mac business, and especially that over 75% of the Macs sold during the quarter used Intel processors. This is the smoothest and most successful transition that any of us have ever experienced. In addition, iPod continued to earn a US market share of over 75% and we are extremely excited about future iPod products in our pipeline.
Said Apple chief executive Steve Jobs. Shares lift 2.2% to $54.10.
Jun 062006

U2 iPod

Apple introduces a new special edition iPod U2. The new device is a fifth-generation 30GB iPod and holds up to 7,500 songs, 25,000 photos or over 75 hours of video. It comes in a distinctive, all-black stainless steel case, a red click wheel and a custom engraving of the band's signatures. The move is part of a close association the firm had struck with one of the biggest bands in the world. Shares slip 0.5% to $59.72.
Apr 192006

Strong iPod sales continue past Christmas

Apple continues its strong iPod sales even after the holiday period in the previous quarter. Profit in Q2 lifts 41% to $410 million, while sales climb 34% to $4.36 billion. Apple sold 8.5 million iPods in the period and 1.1 million Macs, representing 61% and 4% growth respectively. Some on Wall Street had forecast iPod sales would top 9 million. Chief executive Steve Jobs said:
People come up with all sorts of numbers, but I think 8.5 million of anything is pretty great.
The firm added that it expects Mac sales to slow over the coming months as customers put off purchases until later this year when Apple completes its transition to computers powered by Intel chips. In after-hours trading, Apple shares rose 4.5%, to $68.60 a share. In regular trading, shares fell 57 cents, to $65.65.
Feb 232006

iTunes hits one billion downloads

Apple says one billion songs have been downloaded from iTunes since it was launched less than three years ago. The billionth song is Coldplay's “Speed of Sound” from its X&Y album, downloaded by Alex Ostrovsky from West Bloomfield, Michigan. Shares edged up 0.6 % $71.75.
Jan 182006

Good Christmas for iPod

Apple posts a record quarter after selling more than 14 million iPods over the holiday period. The firm reported first-quarter profits that soared 92% higher to $565 million, while sales jumped 65% to $5.75 billion in the first quarter of the year. Wall Street expected sales of $5.1 billion. The business sold 14 million iPods and 1.3 million Macs during the quarter representing 207% and 20% growth over the same period a year ago. Chief executive Steve Jobs said in a statement the results were "the best quarter in Apple’s history". He added:
Two highlights of an incredible quarter were selling 14 million iPods and getting ready to launch our new Macs with Intel processors five to six months ahead of expectations.
Apple chief financial officer Peter Oppenheimer added:
Looking ahead to the second quarter of fiscal 2006, we expect revenue of about $4.3 billion. We expect GAAP earnings per diluted share of about $.38, including an estimated 4 cents per share expense impact from non-cash stock-based compensation, translating to non-GAAP EPS of about 42 cents.
Shares fell 2.6% to $82.49, as investors booked profits.
Oct 312005

One million videos sold on iTunes

iTunes Music store sells one million videos in 19 days since it launched the service on 12 October. Customers can choose from over 2,000 music videos, as well as Pixar short films and hit TV shows for $1.89. Top downloads included music videos from Michael Jackson, Fatboy Slim and Kanye West; Pixar's “For the Birds” and “Boundin'”; and episodes of ABC's hit TV shows “Lost” and “Desperate Housewives”.
Our next challenge is to broaden our content offerings, so that customers can enjoy watching more videos on their computers and new iPods.
Said CEO Steve Jobs in a statement. Shares lift 5.7% to $57.59.
Oct 142005

Tim Cook edges closer to top job

Apple names Tim Cook as its chief operating officer, promoting him from the firm's executive vice president of worldwide sales and operations, which he has held since 2002. He continues to report to CEO Steve Jobs. The tech company said Cook would continue to be responsible for all of the company’s worldwide sales and operations, and would also "work closely with Jobs and the executive team to lead Apple’s overall business".
Tim and I have worked together for over seven years now, and I am looking forward to working even more closely with him to help Apple reach some exciting goals during the coming years.
Said Jobs in a statement. Cook previously worked as Apple’s senior vice president of operations, joining the company in 1998 after a short period at Compaq. He came with expertise in operations and logistics, with a reputation of being brutal with suppliers. Within months of joining Apple, Cook slashed Apple’s on-hand inventory from $400 million the previous year to just $78 million. Shares edged up 0.5% to $54.00.
Tim Cook / Apple Leadership / Apple
Oct 112005

Income jumps fivefold. Again.

Full-year net income jumps almost five times to $1.3 billion, on higher sales of Macs and iPods, with annual results posting "the highest annual revenue and net profit in the company’s history." Annual sales are boosted 68 % to $14 billion. Shares lift 2.4% to $51.59, and rise almost 15% over the next three trading sessions. In the final quarter of the year alone, the business shipped 1.2 million Macs and 6.5 million iPods, representing 48% growth in Macs and 220% growth in iPods over the year-ago quarter. In 2004, net income came in at $266 million on sales of $8.3 billion.
Sep 072005

iPod nano

Apple launches the iPod nano, which is thinner "than a standard pencil", but holds 1,000 songs or 25,000 photos, from $139. The firm added that there were more than 1,000 accessories made specifically for its iPod. Apple said:
The iPod economy has flourished with over 21 million iPods sold and a wide range of companies creating products ranging from high-end fashion cases to speaker systems to automobile integration kits for iPod.
Shares edged down 0.3% to $48.68.
Jul 132005

Profits jump fivefold

Apple posts a fivefold jump in third-quarter profit, as it continues its rapid iPod growth and impressive personal computer sales. It beat market estimates as it racked up net income of $320 million, or 37 cents a share. Wall Street had expected 31 cents a share, as some analysts wondered whether sales of the iPod had peaked. Apple reported sales of 6.1 million iPod music players, with iPod revenue hitting $1.1 billion for the quarter, an increase of 343% compared to a year ago. It also shipped 1.2 million Macs, a 35% boost over the period. Overall, sales jumped 75% to $3.5 billion, compared to the same quarter a year ago. Apple chief financial officer Peter Oppenheimer said in a statement:
Looking ahead to the fourth quarter of fiscal 2005, we expect revenue of about $3.5 billion and earnings per diluted share of about 32 cents.
Shares edged up 0.25% to $35.90.
Jun 062005

Apple ditches IBM

In a surprise move, CEO Steve Jobs announces the end of Apple’s 14-year relationship with IBM, with a move to Intel x86 processors for its Macs from here on out. Shares edge down 0.8% to $37.92. Jobs said the firm would begin shipping Macs in the US with Intel chips later in June, and would move to use these products in all its Macs worldwide by the end of 2007. This ended an alliance Apple had struck with IBM and Motorola in 1991, in a move to defend their position from the dominance of Microsoft and Intel, referred to as the Wintel duopoly. However, over more than a decade Intel extended its position, developing faster, cheaper chips.
Our goal is to provide our customers with the best personal computers in the world, and looking ahead Intel has the strongest processor roadmap by far.
Said Jobs in a statement.
Apr 132005

Profits jump sixfold

Profits jump sixfold to $290 million, with iPods and Macs selling strongly as customers put the downturn behind them. The firm shipped 1.07 million Mac machines and 5.3 million iPods during the quarter, up 43% and 558% respectively on the same period a year ago. Sales rocketed 70% to $3.24 billion. CEO Steve Jobs in a statement:
Apple is firing on all cylinders and we have some incredible new products in the pipeline for the coming year, starting with Mac OS X Tiger later this month.
However, some analysts had expected Apple to sell six million iPods, after it introduced the iPod Shuffle in the period, its first flash-based digital music player. Shares fell 3.8% to $41.04.
Feb 282005

Stock split

Apple splits its stock for the third time on a 2-for-1 basis, twenty-five years after becoming a public company. The move keeps share prices low enough to make them accessible to investors, allowing shares to be traded freely. The stock edges up 0.8% at 44.86 at the end of the day. The firm first split its stock seven years after flotation on 16 June 1987, also on a 2-for-1 basis. The second split came on 21 June 2000, also on a 2-for-1 basis.
Jan 242005

Apple spreads digital music

iTunes downloads, now available in 15 countries, top a quarter of a billion songs. Apple added that iTunes users currently downloaded 1.25 million songs per day, an annual run rate of almost half a billion songs per year. Shares slipped 0.4% to $70.76.
Jan 122005

iPod dominates

The firm posts record quarterly revenue and profits as the iPod becomes one of the must-have gifts over Christmas. It posted net income of $295 million, in traditionally the busiest three months for the business. This was more than three times the $63 million it made in the same period last year. Sales in the current quarter jumped 74% to $3.49 billion, while gross margins lifted to 28.5%, from 26.7%. The company sold iPods 4.6 million iPods during the quarter, 525% increase. It shipped over one million Macs, up 26% over the year-ago quarter.
We are thrilled to report the highest quarterly revenue and net income in Apple’s history. We’ve sold over 10 million iPods to date and are kicking off the new year with a slate of innovative new products including iPod shuffle, Mac mini and iLife ’05.
Said Apple chief executive Steve Jobs in a statement. Apple chief financial officer Peter Oppenheimer said: “Looking ahead to the second quarter of fiscal 2005, we expect revenue of about $2.9 billion and earnings per diluted share of about $.40.” Shares lifted 1.4% to $65.46.
Jan 112005

Youth iPod

Say hello to the smallest version yet of the iPod family, the iPod shuffle, which at 22 grams is described as "smaller and lighter than a pack of chewing gum." The $70 machine, aimed at younger music fans, held up to 240 songs, automatically selecting them from a customer's music library. Also, Volvo said it would fit iPods ports in the glove compartments of all its US cars by the second quarter of the year. General Motors and Mazda promised to follow suit in August 2006. Shares fell 6.4% to £64.56.
Dec 162004

iTunes hits 200 million song sales

Apple sells its 200 millionth song on the iTunes Music Store to Ryan Alekman from Belchertown, Massachusetts. He downloads The Complete U2, by U2. Shares rise 2.1% to $66.60.
Oct 132004

iPods sales rocket

For the year, Apple reports net income of $276 million on revenue of $8.28 billion compared to net income of $69 million on revenue of $6.21 billion in 2003. Apple shipped 836,000 Macintosh units and over 2 million iPods during the final quarter of the year, a 6% increase in computers and a 500% increase in iPods over the year-ago quarter. Darcy Travlos, an analyst with Caris & Co, said:
The last tech cycle was driven by networking but I think this tech cycle will be more consumer driven. Investors need to look at the larger picture of what Apple is accomplishing. Apple is going to do for personalized content management what Microsoft did for the office.
Shares rose 3.8% to $39.75, and jumped 18% over the following three sessions.
Aug 022004

Jobs admits to cancer surgery

CEO Steve Jobs has successful pancreatic cancer surgery, tells employees in a company-wide email.
This weekend I underwent a successful surgery to remove a cancerous tumor from my pancreas.
Wrote Jobs. Jobs, 49, said he would recuperate during August and expected to return to work in September. Tim Cook, head of worldwide sales and operations, ran the day-to-day operations at Apple in Jobs’ absence. Since the founder's return in 1997, Jobs had been the driving force behind the iPod and revamped iMac, which turned the computer firm around from near collapse. Shares lifted 2.4% to $31.58.
Jul 142004

Profits triple again

Profits triple to $61 million in the third quarter of the year, driven by iPod and Mac computer sales. Apple smashed revenues of $19 million a year ago, while sales in this three-month period climbed 30% to $2.01 billion, as results are released after the market closed. The firm said its iPod shipments nearly tripled to 860,000, while it shipped 876,000 Macintosh units, a 14% increase.
It was an outstanding quarter — our highest third-quarter revenue in eight years. Our Mac-based revenue grew a healthy 19%, and our music-based revenue grew an incredible 162%. We’ve got a strong product portfolio, with some amazing new additions coming later this year.
Said Steve Jobs. Shares spiked 11.3% to $32.93 in the first day of trading following the release of the results.
Jun 152004

iTunes in Europe

Apple opens the iTunes Music Store in the UK, France, and Germany.. Shares lifted 6.7% to $32.74 on the first day of trading after the announcement.
Apr 282004

Happy Birthday iTunes

iTunes marks its first anniversary as Apple announces the service has sold more than 70 million songs. By July this would jump to more than 100 million. iTunes had a 70% market share among all legal online music download services. iPods had moved from expensive toys to must-have Christmas presents, and Apple found itself in a near-monopoly product position for the first time in several decades. Shares fell 1.8% to $26.45.
Isabella and Louisa Fischer / Unsplash
Apr 142004

Profits triple

The firm sees second-quarter profits more than triple to $46 million, boosted by iPod and Mac sales. This compares to a $14 million profit, in the quarter a year ago, as results are released after the market closed. Apple shipped 807,000 iPods and 749,000 Macs and during the period, a 909% jump and a 5% increase over the year-ago quarter. Sales hit $1.9 billion, up 29% in the period. Apple chief operating officer Fred Anderson said in a statement:
Our balance sheet remains very strong with about $4.6 billion in cash and no debt. Looking ahead to the third quarter of fiscal 2004, we expect our fourth consecutive quarter of year-over-year double-digit growth in both revenue and earnings, with revenue of about $1.925 billion. We expect GAAP earnings per diluted share of $0.12 to $0.13, including approximately 2 cents per diluted share in restructuring charges.
Shares jumped 10% to $20.30 in the first day of trading after results are released.
Jan 142004

Swing to profit

The firm swings to a net profit of $63 million, compared to a net loss of $8 million a year ago, driven by strong sales of iPods and its new OS X operating system. The iPod was a popular Christmas present, and sales jumped 235% to 733,000 units, compared to the same period a year ago. CFO Fred Anderson said:
Continued strong asset management enabled us to increase cash by $225 million to just under $4.8 billion. Looking ahead to the second quarter of fiscal 2004, we expect our third consecutive quarter of year-over-year double-digit growth in both revenue and earnings, with revenue of about $1.8 billion and earnings per diluted share of $0.08 to $0.10.
Shares edged 0.3% lower to $24.20, with investors unsure yet if Apple had turned the corner.
Jan 062004

iPod mini hits market

Apple releases the iPod mini at the lower end of the market, which at 102 grams is smaller than many cellphones. The music player, priced at $249, was aimed at younger consumers and came in five colors - silver, gold, pink, blue and green. The device held 1,000 songs. Apple may not have invented the digital music player but it did turn the MP3 player into a fashion icon and built a digital music industry around it. The tech firm dominated other digital music players made by Dell or Samsung, which had a device co-branded with the now-legal music store Napster. But although Apple's iTunes remained the king of the online music world, it faced diverse new competitors who offered music sites, such as Wal-Mart and web streaming business RealNetworks. Apple also announced the sale of the two millionth iPod, less than six months after hitting the one million mark. Shares slipped 0.4% to $22.09.
Ben Szymanski / Unsplash
Nov 302003

First Apple stores abroad

Apple opens its first Apple Store abroad in Tokyo on a Sunday morning. The five-floor store, in the city's fashionable Ginza district, boasted an 84-seat state-of- the-art-theatre, where customers could attend workshops, watch demonstrations. The building also had a kids section devoted to educational software and an internet cafe. The shop was to hold more than 400 customer events every month including "hands-on training classes," and was staffed by "Mac specialists" who spoke 10 different languages including Japanese, Mandarin, Cantonese, Thai, Korean, Italian, French, Spanish, Portuguese and English. Shares rose 3.8% to $21.71 on December 1, the first trading day after the launch.
Héctor García/Kirai CC
Oct 152003

Apple sales

For the year, Apple reports net income of $69 million on revenues of $6.21 billion compared to net income of $65 million on revenues of $5.74 billion in 2002. Apple shipped 787,000 Macintoshes during the final quarter of the year, up 7% from the year-ago quarter, as well as 336, 000 iPods, up 140% from the year-ago quarter. Shares closed down 1% at $24.82 though, as investors paused after a stock market wide strong run, despite better-than-expected results from firms such as Intel, Apple and General Motors. All three major indexes -- the Nasdaq composite, the Dow Jones industrial average, and the S&P 500 -- posted single point losses.
The market has acted well and longer-term, the trend remains positive. But right now there's some exhaustion. Intel is so important and the fact that it’s good news hasn't really caused a rally tells you people need to take a break.
Said Peter Green, a market analyst at MKM Partners.
Sep 152003

'Dancing silhouettes' ads

It’s the image of a generation. Apple launches its iconic iconic 'dancing silhouettes' commercials with black shadows dancing in front of brightly colored backgrounds, and the bright white iPod in clear view. This ad, created by US agency TBWA/Chiat/Day, was used for various iPod and iTunes campaigns between 2003 to 2008, and appeared around the world in print, on TV, the web, and in various outdoor venues. The first ads appeared in newspapers on 15 September, with a few billboard ads appearing in Los Angeles the week before. A month later the campaign appeared in music, sports, and men’s magazines, with TV spots coming later. The distinctive commercial art helped cement the move of the brand from a computer firm to an elite global consumer business. Shares slipped 3.9% to $22.21 on the day though, with the ads yet to gain traction.
Sep 122003

Apple and The Beatles in court again

Beatles-owned Apple Corps sues Apple for violating a 12-year trademark agreement on whether the tech firm has the right to enter the music business. Apple Corps says Apple Computer has entered the entertainment business by launching iTunes and the iPod, which breaches their existing trademark agreement. The companies settled a previous dispute in 1991 following a high court trial lasting more than 100 days. Back then, Apple Computer is believed to have paid out £16.3 million, with the two sides signing a new trading agreement. The 90s contract stipulated Apple Computer could use the name for computers, data processing and telecommunications, while the Beatles retained it for music. "Unfortunately, Apple and Apple Corps now have differing interpretations of this agreement and will need to ask a court to resolve this dispute," said Apple in a statement. London-based Apple Corps is jointly owned by Paul McCartney, Ringo Starr, John Lennon’s widow Yoko Ono and the estate of George Harrison. The case eventually rumbled on until 2007. Apple shares lifted 2.4% to $23.10.
Jul 162003

Profits slump

Third-quarter profit slumps 41% to $19 million, although still beating estimates as the consumer slowdown continues. Shares fell 1.3% to $19.87. But sales lifted 8%, to $1.55 billion, the highest in 11 quarters, as it shifted more laptops and iPods. Apple's profits came in at 5 cents a share, beating analysts' estimates of 3 cents a share. It said that 46% of its unit sales in the period were of iBook and Powerbook portable computers. The firm sold 304,000 iPod portable music devices in the quarter, up from 80,000 iPods in the second quarter. CFO Fred Anderson said in a statement:
We continue to be pleased with our working capital management and our ability to increase cash which totals over $4.5 billion. Looking ahead to the fourth quarter of 2003, we expect an increase in revenues and a slight increase in earnings relative to the June quarter.
Apr 282003

Apple launches iTunes Mark II

Apple unveils the iTunes Music Store, which will sell individual songs through the iTunes application, for 99 cents each, without subscription fees. It kicked off with over 200,000 songs with agreements with such music giants as BMG, EMI, Sony Music Entertainment, Universal and Warner. The service offered exclusive tracks from over 20 artists, including Bob Dylan, Sting, Eminem, Sheryl Crow and U2. Apple would also strike a close association with U2, one of the biggest bands in the world, over the coming years. These songs could be played only on Macs or iPods, but Apple felt that by offering an easy to use, no-nonsense music service, it could make significant inroads to the digital music market.
The iTunes Music Store offers the revolutionary rights to burn an unlimited number of CDs for personal use and to put music on an unlimited number of iPods for on-the-go listening.
Said Steve Jobs, Apple's CEO in a statement.
Consumers don't want to be treated like criminals and artists don't want their valuable work stolen. The iTunes Music Store offers a groundbreaking solution for both”. Apple first launched iTunes as basic CD rip-and-burn software on January 9, 2001.
Shares lifted 3.8% to $13.86, and rose for the next seven sessions to climb 35% higher from the last trading day before the launch of the service, to $18.00 on May 8.
Apr 162003

Q2 profits tumble

Profits fall by 65% to $14 million, compared to $40 million the same quarter a year ago, as consumers continue to buy fewer computer products during the economic slowdown. Sales for the second quarter slipped 1% to $1.475 billion from the same period a year ago, as margins lifted to 28.3%, up from 27.4% in the year-ago quarter. It shipped 711,000 Macs during the quarter, when it reported results after the market closed. CFO Fred Anderson said in a statement:
Continued strong asset management enabled us to increase cash to over $4.5 billion. Looking ahead to the third quarter of 2003, we expect revenue to be relatively flat with the March quarter and expect a slight profit for the quarter.
Shares slipped 0.9% to $13.12 in the first day of trading after the results were released.
Jan 172003

Investing through downturn

Apple posts a first-quarter loss of $8 million, compared to a profit of $38 million a year ago, in line with estimates as the global slowdown continues to bite. Sales for the quarter are up 7% to $1.47 billion, and shares lift 1.2% to $14.43. The firm said it shipped 743,000 Mac units during the quarter, "about even with the year-ago quarter". CEO Steve Jobs said in a statement:
We’re going to keep investing through this downturn and continue to move our products and distribution channels ever further ahead of our competitors, so that when the economy rebounds we will be positioned for growth.
We were extremely pleased with our ability to achieve our revenue target for the first quarter while reducing channel inventories by 11% within the quarter. Continued strong asset management enabled us to increase cash to over $4.4 billion. Looking ahead to the second quarter of 2003, we expect revenue to be relatively flat with the December quarter, and expect a slight profit for the quarter.
Apple chief financial officer Fred Anderson in the same statement.
Jan 072003

iPod sales

During his Macworld Expo keynote speech in San Francisco Apple CEO Steve Jobs says Apple has sold more than 600,000 iPods in the 14 months since its launch. Shares edged up 0.3% to $14.85.
Oct 162002

PowerBook failure

Apple loses $45 million in its latest financial quarter, due to weak PowerBook and PowerMac sales and after booking a $49 million write-off on investments. Shares fall 4% to $14.56. Sales of Macs fell by 14% to 734,000 units during the quarter, with the firm blaming a "struggling" industry. Over the full year, however, revenues actually lifted slightly to $5.74 billion, with the company making a profit of $65 million.
Looking forward, we do not expect our industry to pick up anytime soon, though we're hoping to help put a lot of iPods, iMacs and iBooks under trees this holiday season.
Said Steven Jobs.
Jul 162002

Consumer slump bites

Apple sees its net profit fall by almost half to $32 million, due to a global downturn in consumer spending, adding that sales over the next three months will fall short of Wall Street expectations. Shares slip 2% to $17.86. The firm said earnings fell 46% for the third quarter after the market closed, as customers around the world reined in spending. Sales fell 3% to $1.43 billion. Half the weakness in sales came from Europe, with the remainder split between the US and Japan, said CFO Fred Anderson in a conference call with investors. Apple added that sales in the fourth quarter of the year, ending in September will be flat, similar to June quarter's $1.43 billion. Analysts' had expected $1.5 billion. The firm said it expected to make a "slight" profit in the next quarter, while brokers had earmarked earnings of 14 cents a share.
Apr 172002

iMac price increases

Q2 net profit slips 7.5% to $40 million, in line with company and Wall Street estimates. Shares lift 1.4% to $26.11. The firm shipped 813,000 Macs in the period, of which 220,000 were the new iMacs, which included flat-screen monitors. The business raised prices on its new iMac computers by $100 each due to a hike in component costs, but added it will not get the full benefit of the increase in the third quarter because it is still committed to shipping inventory at the old price.
Mar 212002

iPod upgrade

Apple adds a second iPod to its range at the Macworld Expo in Tokyo. The 10GB model, priced at $499, stores up to 2,000 songs. It also comes with contact list software, able to hold up to 1,000 names and addresses.
iPod lets you easily put your entire music collection in your pocket and listen to it anywhere. With the new 10GB iPod, you can listen to your music continuously on six round-trip flights between San Francisco and Tokyo and never hear the same song twice. Plus, now you can store your contact lists inside your iPod, too.
Said Steve Jobs. Shares lifted 2.6% to $24.27.
Feb 282002

Rip off

Testifying before the US Senate Commerce Committee, Disney CEO Micheal Eisner criticizes tech firms for resisting standards that could help thwart the illicit flow of copyrighted works over the web. He singles out Apple’s slogan -- “Rip, Mix, Burn.” Eisner pointed the finger firmly at leading companies such as Apple, Dell, Microsoft and Intel for failing to develop adequate protection for digital media, because (he alleged) piracy helps sell computers. The Disney boss told Congress: ''I believe if you say to these people, 'You get us a system by December 31 or we'll do it for you,' you'll be surprised at how innovative they'll become.'' Intel Chairman Andrew Grove later countered: ''Is it the responsibility of the world at large to protect an industry whose business model is facing a strategic challenge? Or is it up to the entertainment industry to adapt to a new technical reality and a new set of consumers who want to take advantage of it?'' Steve Jobs added in the Wall Street Journal:
If you legally acquire music, you need to have the right to manage it on all other devices that you own.
Apple shares slipped 1.2% to $21.70.
Jan 182002

iPods sales start smartly

The firm earns $38 million in profit after selling 125,000 iPods in the first two months since its product's launch. Shares rise 1.4% to $22.17. The results were in line with Wall Street forecasts and compared with a $195 million loss in the same first-quarter period a year ago. Sales jumped 38% to $1.38 billion. Apple sold 827,000 iMacs in the period and over 182,000 notebook laptops in the three-month period. However, the company said it was seeing a fall in computer purchases during the first quarter due to a slowdown in the US economy.
We’re delivering solid profitability while maintaining lean channel inventories in a weak economic environment. Our balance sheet remains very strong, with over $4.2 billion in cash, and we are targeting a slight sequential increase in revenues and earnings per share in the September quarter.
Said CFOFred Anderson.
Jan 072002

The radical G4 iMac

At the Macworld trade show, Apple introduces a radically resigned flat-screen G4 iMac, which ditches the bulky picture tube which had taken up most of the iMac chassis for the last three-and-a-half years, opting for a free-swivelling 15-inch flat-screen display perched elegantly on an articulated chrome arm. That arm connected to the top of a 10.5-inch hemispherical base, which housed the entire computer: logic board, optical drive, hard drive, processor, and power supply. The overall impression was both futuristic and slightly retro: like a TV screen perched on top of a 1960s porcelain table lamp. Prices ranged from $1,299 to $1,799. Shares dipped 3.3% to $22.90.
Nov 102001

Tragedy strikes New York

On the first day of New York trading after 9/11, the market tumbles 684 points, a 7.1% decline, setting a record at the time for the biggest one-day loss in exchange history. Markets did not open on the day of the attack. However, Apple shares edge up 0.5% to $17.37 on the day after the tragedy. By Friday, ending a week that saw the biggest losses in Wall Street history, the Dow Jones was down almost 1,370 points, representing a loss of over 14%. The S&P 500 index lost 11.6%. An estimated $1.4 trillion in value was lost in those five days of trading.
Oct 232001

Apple launches iPod

Apple launches its own MP3 music player, the iPod, its first non-computer product for several years. Apple shares fall 4.6% to $18.14 on the day, with investors unsure about the firm’s gamble. The launch of file-sharing services at the end of the 1990s allowed millions of internet users to download tracks onto MP3 players. But existing models were clunky, making it difficult for users to select songs. “No-one”, Jobs insisted, “has really found the recipe yet for digital music.” But the iPod’s unique wheel smoothly made it easy to select songs. A tiny hard-drive built by Toshiba packed five gigabytes of memory (enough for 1,000 songs) into 1.8 inches, allowing the iPod to offer as much storage as rivals, but in a smaller body. Jobs began to revive Apple's fortune's after the launch of the iMac. But the iPod introduced many more millions of consumers to the firm’s polished aesthetic and technical brilliance. At the end of the year, the firm would announce it had sold 25,000 iPods in just over two months. At its peak, the device accounted for 40% of Apple’s revenue. The popularity of the iPod, priced at $399, helped turn the music industry upside down. Earnings from physical music sales in America had already started to decline at the end of the last century, falling from $21.5 billion in 1999 to $19 billion in 2001. But after the iPod arrived revenues plummeted, to just $8 billion by 2008.
Oct 172001

9/11 dampens consumer confidence

Apple posts an annual net loss of $25 million on sales of $5.36 billion, compared to net earnings of $786 million on revenues of $7.98 billion the year before. The company also warns on results for the Q1 2002, following the 9/11 terror attacks the previous month. Shares unsurprisingly drop 5.7% to $16.99.
Given the uncertain global political environment and weak economy, we are targeting the December quarter of at least $1.4 billion and EPS of at least 10 cents.
Said CFO Fred Anderson. The company also projected a loss for their new company retail stores, saying it was not clear consumers would spend during the holidays.
We now expect that the slowdown in retail that everyone's experienced since the attack of September 11 will result in our reporting a small loss for our retail stores for the December quarter rather than the break-even results we had previously expected.
Anderson told Reuters.
Jul 172001

Apple rides consumer slowdown

Apple earnings beats expectations as it posts a profit of $61 million in the third quarter of the year, amid a slowdown in computer sales among consumers. Shares lift 4.8% to $25.10. This compared with earnings of $200 million in the same period a year ago. However, the firm turned in earnings of 17 cents a share in this quarter after the market closed, above the 15 cents a share Wall Street expected. Sales tumbled 19% to $1.5 billion. Apple said it saw no sign of a consumer recovery, adding that sales in the second half of the year could fall short of its earlier forecasts due to the economic slowdown. It had previously forecast second-half sales of $3.2 billion to $3.4 billion, estimating revenue for the year at $5.6 billion to $5.8 billion.
Jul 032001

End of the Cube

Apple halts production of its Power Mac G4 Cube after just one year, due to slow sales. Shares fall 4% to $19.96. In January, Apple only sold one third as many Cubes as it had expected. It sold 29,000 Cubes between October and December 2000, compared to 308,000 Macs during the same quarter. In the following three months, Cube sales fell to 12,000 units. The Cube flopped for several reasons. It was both expensive and underpowered. The machine, which sold for between $1,799 and $2,299, was aimed at mid-range consumers one step up from the iMac and one below the firm's most powerful Power Mac G4s. But after a few months analysts said only the most affluent Mac consumers were willing to take a risk on an expensive, unconventional machine with limited upgrade options. The machine exterior was also prone to cracks around the Cube’s plastic case.
Patrick Kuhl / Wikimedia Commons
May 192001

First Apple stores

Apple opens its first two stores in Glendale, California and Tysons Corner, Virginia. Shares fall over the next ten sessions though, tumbling 16% to close at $19.78 on May 30. The outlets were spacious with sections for music, movies, photos and a kids area. Early Apple stores feature a Genius Bar, where customers put problems to in-store "geniuses". If they could not help, the shop had a hotline to its Cupertino headquarters, where it said someone would always come up with the answer. The outlets would play a key role in the launches of the iPod, iPhone and the iPad and revolutionized tech retail. Before Apple Stores, its products were sold in chain stores or Apple retailers, where support was patchy. By 2020 however, the firm operated more than 500 stores in over 20 countries, and the concept had been copied by rivals, such as Microsoft and Sony. Jobs hired executive Ron Johnson as senior vice president of retail operations in January 2000 to run the new stores, poaching him from retail giant Target where he was vice president of merchandising.
Apr 182001

Restructuring gains

Apple posts Q2 earnings of $40 million on the strength of restructuring and new products including a slim new notebook computer, beating expectations. Shares jump 11.7% to $22.79. The firm earned 11 cents per share during the three months to the end of March, well ahead of analysts forecasts of a cent a share. Sales fell 27% to $1.43 billion. The business said its systems had fallen behind rivals in key areas, such as higher processor speeds and writeable CD-ROM drives. It had also fallen into the number two spot in the US educational market, behind Dell. It had been the number one supplier in this market for years. As a result, the company upgraded parts of its product line, including a new "ultrathin" iBook notebook laptop; it made systems available with writeable CD-ROM drives; and introduced the OS X operating system, which began shipping last month.
Jan 172001

Poor Power Mac and Cube sale lead to losses

Apple posts its first quarterly loss in three years, after a poor holiday season. Shares fall 1.8% to $16.81. The firm reported a loss of $247 million, compared to a $123 million profit, in the same period a year ago. Sales plummeted 57% to $1 billion. Sales of its Power Mac and G4 Cube were particularly slow, as were sales into its education market, usually a strong area for Apple.
Jan 092001

iTunes Mark I launched

Steve Jobs introduces iTunes 'jukebox software' at the Macworld Expo in San Francisco which, when revamped two years later, will go on to revolutionize the way people listen to music. People like what they hear, and Apple shares lift 3.8% $17.19. Jobs told his audience this version of the software allowed Mac users to burn CDs, compress them on MP3 players and store them on the hard drive of their Mac computers. It came with simple-to-use searching, browsing and playlist features.
Apple has done what Apple does best — make complex applications easy, and make them even more powerful in the process. iTunes is miles ahead of every other jukebox application, and we hope its dramatically simpler user interface will bring even more people into the digital music revolution.
He said. The ability to buy songs, videos and films would come later.
Jan 052001

Fire Sale

Paul Somerson, vice president of publisher Ziff Davis Development, predicts in this month's issue of Ziff Davis Smart Business for the new Economy that Apple will go bust by 2004, despite the return of Jobs. Shares fall 4% to $16.37. In a feature called Technology's Walking Dead, he predicted: "Apple - Watch for the big fire sale. Pretty designs and overpriced blue plastic can only get you so far." Guess he was wrong about that one. There have been 71 recorded forecasts of Apple's collapse between 1995 and 2018, according to the Apple Death Knell Counter run by the website Mac Observer.
Dec 052000

First quarterly loss in three years

Apple warns of a huge shortfall in revenue for its first quarter of the fiscal year at the end of this month, which will cause its first quarterly loss in three years. Apple said it had suffered significantly slower-than-expected sales during October and November. It expected to report revenues of about $1 billion and a net loss of between $225 million and $250 million when its quarterly results were posted on 17 January 2001. The following day, December 6, shares plunged 15.8% to $14.31. Not a good look.
Oct 182000

Poor results, more pain to come

Apple posts weaker-than-expected fiscal fourth-quarter profit and warns investors that next year’s first quarter's results will also substantially fall below Wall Street's expectations. The results send Apple shares down $3.12 to $17.12 in after-hours trading, a 15% drop. The following day, October 19, shares closed down 6% at $18.94. The computer maker reported a net profit of $170 million, versus a net profit of $111 million, in the year-ago quarter. For the year, Apple reported revenue of $7.98 billion and net earnings of $786 million, compared with fiscal 1999 revenues of $6.1 billion and net earnings of $601 million, over the same period. The firm said it was seeing lower-than-expected iMac and iBook sales, as well its new G4 Cube. Although its high-speed Cube had won rave reviews from Apple enthusiasts, the company said the machine may have been priced too high. It had also experienced some execution flaws, which it said it had since corrected.
In our track record over the last few years, we've only had one product that we've introduced that hasn't met our expectations in its first quarter of sales, and that is our G4 cube. If we haven't hit it right on the market with the G4 cube, well, we're just going to keep working on it until we do.
Said CEO Steve Jobs.
Sep 282000

Profit warning cuts stock in half

Apple warns its earnings for the fourth quarter ending 30 September will be substantially below expectations because of slower-than-expected sales in September. The company said it expected to report revenues of between $1.85 billion and $1.90 billion, and earnings per diluted share, excluding investment gains, of between 30 cents and 33 cents, when the results were announced on October 18. Analysts had expected Apple to earn 45 cents per share in the quarter, according to estimate tracker First Call. CFO Fred Anderson said that the company's education-related sales, which normally peaked during September, were lower than expected. In addition, its Power Mac G4 Cube was off to a slower-than-expected start. In response, Apple's stock plunged to $29 in after-hours trading, down 46% from its Thursday close of $53.50. The decline knocked about $8.9 billion off the company's market value.
Jul 192000

The Cube

Apple introduces the PowerMac G4 Cube, priced between $1,799 and $2,299, at the Macworld Expo show in New York. But the market isn’t convinced, and shares fall 8% to $52.69. The machine was an eight-inch cube without a monitor, less than a quarter of the size of most PCs. It was more powerful than an iMac and did not have a power switch, turned on instead by a cool wave of the hand. Apple has always had style. The machine was silent, coming without a fan, and instead cooled by airflow directed through the computer. It was intended as a new category of computer for the company. The firm's current product range consists of low-end and high-end desktop computers – the iMac and Power Mac. Added to that were its low-end and high-end laptops – the iBook, and PowerBook. The Cube was aimed at the art and design market, with the firm hoping to appeal to its worldwide customer base working in publishing, marketing, and at universities.
The G4 Cube is simply the coolest computer ever. An entirely new class of computer, it marries the Pentium-crushing performance of the Power Mac G4 with the miniaturization, silent operation and elegant desktop design of the iMac.
Said Jobs in a company statement. A year later, Apple would end production of the machine, making it one of the firm's most visible failures.
Jul 182000

Apple, a ‘reformed alcoholic’?

Apple earnings slip 1.5% to $200 million, compared to the same period a year ago, edging ahead of Wall Street expectations. Shares fall 8% to £52.69 in the first day of trading after results are released. Excluding one-off gains of $37 million, the firm earned 45 cents a share, a cent ahead of analysts forecasts. Results are released after the market closes. Sales rose 17% to $1.83 billion, with 1.016 million units sold, including 350,000 Power Mac G4 machines and 450,000 iMacs. Apple added it expected both machine sales and revenue to rise in the fourth quarter as new products are introduced.
Investors do not appreciate the superior financial dynamics at Apple and do not accord it the valuation it deserves - because, in our minds Apple is still viewed by many as a reformed alcoholic - just one step away from returning to the gutter. We have a different view and think they are a great team.
Said Bear Stearns analyst Andrew Neff.
Jun 212000

Second stock split

Apple splits its stock for the second time on a 2-for-1 basis twenty years after becoming a public company. The move keeps share prices low enough to make them accessible to investors, allowing shares to be traded freely. The stock closes up 9.9% at $55.62 at the end of the day. The firm first split its stock seven years after its initial public offering on June 16, 1987, also on a 2-for-1 basis.
Apr 202000

One million computers in three months

Earnings rocket 73% to $233 million, compared to the same period a year ago, as machine sales lift by more than a quarter. Sales jump 27% to $1.94 billion. Apple sold just over one million computers in the three-month period, 26% more than the same period a year ago. Part of this mix were 350,000 of the firm's high-end G4 PowerMacs and 100,000 Powerbook laptops. Apple also announced a two-for-one stock split, to take effect on June 21. Shares lift 1.4% to $120.50.
Jan 202000

Strong results and a Gulfstream jet for Jobs

Apple reports earnings up 20% to $183 million compared to the same period a year ago, as the iMac helps machine sales jump by almost half. The company sold 1.38 million computers during the quarter, including more than 700,000 iMacs and 235,000 iBook laptops, leading unit sales to lift by 46%. Results were released after the market closed. Sales rose 37%, to $2.34 billion. The board, as a thank you for the company's turnaround, gave CEO Steve Jobs a Gulfstream V jet and 10 million stock options, worth $90 million in total. And he’d earned it – Apple's market value had increased from less than $2 billion to more than $16 billion since he rejoined almost three years ago. Jobs says he would use the plane to more easily combine his other role, as CEO of Pixar, and his family life. Paid only a $1 token by Apple, Jobs also promised to run the jet at his own expense. Shares slipped 2% to $113.31 as investors booked profits.
Jan 052000

Jobs moves from iCEO to CEO

Steve Jobs says he will accept the position as full-time CEO of Apple, ditching the 'interim' tag he has used for the last three years. Shares lift 1.5% to $104. After Jobs returned to the flagging firm in 1997 its stock rocketed by 775% due to the success of new products such as iMac desktop machines and iBook laptops. The news was greeted with wild applause by Apple fans at the MacWorld Expo in San Francisco, where the tech guru made the announcement. Investors were also happy with the move, which saw Jobs end management upheaval, boost market share, and rebuild profits after the business lost almost $2 billion between 1996 and 1997. J.P. Morgan analyst Daniel Kunstler said:
What he has done is put in the company a design and execution process that's second to none. That's amazing.
Jobs reduced his dual role at Pixar Animation, where he was chairman and CEO. The studio had produced a string ground-breaking commercially successful computerised cartoon movies under his watch, including Toy Story (1995), A Bug's Life (1998) and Toy Story 2 (1999). This left Jobs back in control of the business he co-founded with Steve Wozniak in his parent's garage in 1976, after being forced out in a boardroom coup nine years later. This sort of comeback usually only happens in movies.
Oct 131999

Annual sales double

Net income almost doubles to $601 million, as the firm sees a 25% growth in machine sales, "primarily attributable to the success of iMac", which sold 1.8 million machines in the year, up 68%. Net sales lifted 3.4% to $6.1 billion, with 45% of revenues coming internationally. However, the firm added that overall sales were “negatively impacted during the year by declines in the average revenue per Macintosh system for both Power Macintosh and iMac systems and by a shift in unit mix towards the lower priced iMac systems”. Shares fell 5.4% to $64.03, as investors booked profits.
Aug 311999

iMac sales soar

The iMac has sold two million machines to date, says Apple. The firm also launches the PowerMac G4, a new professional desktop machine, sending shares up 5.1% to $65.25. Apple’s stock had risen all summer, and by mid-September 1999 would trade at an all-time high, in the high $70s.
Jul 211999

iBook launch

At the MacWorld trade show, Apple CEO Steve Jobs introduces the iBook portable computer, priced at $599, bringing style and enhanced specifications to the low-end portable market. Shares rise 2.3% to $54.06.
Jul 141999

Strong iMac showing

Apple posts higher-than-expected earnings of $203 million, double the $101 million it posted in the same period a year earlier, on strong demand for its iMac computer. Shares rise 4.2% to $55.94. Revenues rose 11% to $1.56 billion, as iMac sales lifted by 40% during the quarter. Apple interim chief executive Steve Jobs said:
Apple is growing faster than the industry, driven by the continued success of the iMac in our consumer and education markets.
Jun 291999

Going once . . .

La Salle Gallery in San Francisco sells an original Apple-I computer with a user manual, keyboard, and cabinet, at auction for $18,000 as the original computers begin to become collectable. Shares lift 6.6 % to close at $42.56. Later, in 2014, at Bonhams, an Apple-I computer sold in New York for $905,000.
Apr 141999

Apple revival

Apple reports earnings of $135 million, compared with $55 million in the same quarter a year ago, on the back of strong demand for its iMac G3 machines as their sales jump by 27%, nearly twice the industry average. Shares rise 3.6% to $35.53. Sales rise 9% to $1.53 billion. Apple's revival came at a time when the personal computer industry as a whole was dogged by price wars and slowing growth. The same month, rival Compaq, the largest PC manufacturer at the time, warned that earnings for its current quarter would fall far short of estimates, while chipmaker Intel added that sales in its first quarter were slower than expected.
Jan 131999

Apple’s new operating systems boosts margins

The company reports its fifth profitable quarter in a row earning $152 million, compared to a $47 million gain a year ago, as unit sales jump 49% in the quarter. Shares edge up 0.8% to $46.50. Apple was boosted by strong sales of its iMac G3 Macintosh machines and improved margins on its System 8.5, the latest version of the Macintosh operating system. Apple's iMac computer sold 519,000 units during the quarter, lifting 49% compared to the same period last year.
Dec 181998

Apple matches Tom Hanks and Meg Ryan

Warner Bros Pictures releases the film You've Got Mail, with Tom Hanks and Meg Ryan, and it features an Apple computer. Stock lifts 5.2% to $33.75. The story, involving two of Hollywood's biggest stars, revolves around an online romance. Ryan, who plays a left-leaning newspaper writer, uses a PowerBook 3400 laptop throughout the film, demonstrating her creative side.
Aug 151998

iMac makes its mark

Apple posts earnings of $309 million for the year, compared with a loss of $1.05 billion in 1997, buoyed by demand for its new iMacs. It is the firm's first annual profit since 1995, and stock lifts 2% to $36.63. Sales slipped 16% to $5.9 billion. However, things were turning around. Just six weeks after shipments began in mid-August, the company reported selling 278,000 iMacs. The popularity of the iMac, which Apple backed with a heavy marketing campaign, drove the company's retail market share to 13.5% in America in August, making the machine the third-best-selling computer model in the US. Analysts acknowledged that on this early showing, Jobs remained a master of product marketing and design.
The quarter was nothing less than sensational. Steve pulled the rabbit out of the hat over the past year. Apple was in disarray. It was at the gate of extinction. Now we have a company turnaround.
Said Charles Wolf, an analyst at Credit Suisse First Boston.
Jul 151998

Profits on the up

Apple beats Wall Street expectations earning $101 million in the third quarter, lifted by iMac G3 sales. Shares are up 3% to $34.44 Excluding one-time items, the firm earned $75 million in the period, though overall revenues fell 17.6% to $1.4 billion compared to a year ago. Apple made a loss of $56 million in the same period the year before.
Apple had a terrific quarter -- we sold a record number of Power Macintosh G3 computers, customers love our new PowerBooks, Apple earned its highest profit in years and we ended the quarter with the lowest inventory level among the major PC players.
Interim chief executive Steve Jobs said in a statement. The firm's results were released after the market closed.
May 061998

Jobs’ comeback machine

CEO Steve Jobs introduces the new Apple iMac, at the Flint Center Theater in California. Shares lift 2% to $30.31. The iMac was ahead of its time with the processor and graphics integrated within the monitor when all other computers relied on an external central processing unit (CPU). It was the first joint project between Steve Jobs and British design guru Jonathan Ive, who became the two most important people at the company during their 13-year partnership, which saw them create a string of iconic products together. Jobs later told his biographer Walter Isaacson:
If I had a spiritual partner at Apple, it's Jony. Jony and I think up most of the products together and then pull others in and say, 'Hey, what do you think about this?
He added:
He gets the picture as well as the most infinitesimal details about each product. And he understands that Apple is a product company. He's not just a designer. That's why he works directly for me. He has more operational power than anyone else at Apple except me.
The iMacs bold Bondi Blue colour scheme was unashamedly loud, and made a statement that personal computers didn’t have to be boring. It was the first major product where Apple used a lower-case "i", a branding tool that the firm would use again and again. Indeed, from here on out, any firm that wanted to mark its product or service as high tech and distinctive tended to use a lower-case "i" prefix. About 6 million iMacs were sold over the next four years.
Apr 141998

iMac dominates sales

The company reports better-than-expected second-quarter profits, earning $55 million in the three months to the end of March, boosted by iMac G3 sales. Shares rise 1.9% to $26.94. It was the first time Apple had posted back-to-back profitable quarters in two-and-a-half years. The last occasion was the third and fourth quarters of its 1995 financial year. Interim chief executive Steve Jobs said in a statement:
Apple had a great quarter, no question about it. We are very pleased with the strong demand for our Power Macintosh G3 computers, which accounted for 51% of all units sold.
Sales of its G3 machines also lifted the firm's gross margins to 25% from 19%. Its line of PowerBook notebook computers accounted for 13% of revenue, compared with 26% a year ago. Overall, revenues continued to decline in the quarter, falling 12.5% to $1.4 billion as the firm slimed its focus, compared to a year ago.
Mar 141998

No more anniversaries

The Twentieth Anniversary Macintosh is discontinued after a year. The price of the machine would drop from $7,499 to $3,500 and then again to $1,995 by the time production came to an end. However, during its brief lifespan, the machine made regular appearances in Jerry Seinfeld's apartment in the hit TV comedy Seinfeld. The stock fell 1.6% to $26.69 on the first trading day after the announcement, on 16 March.
Feb 271998

Newton dropped

The Apple Newton line is dropped following the return of CEO Steve Jobs, who now begins to closely shape the firm's product line. Shares edge up 0.5% to $23.62. The world's first attempt at a tablet failed because of its poor battery life and a hard-to-read screen. The machine came with an electronic pen and handwriting recognition, but this was so shoddy that it was ridiculed by the Doonesbury comic strip and mocked by The Simpsons. In a 1995 episode Lisa On Ice, school bully Dolph tries to write a memo on a Newton to "beat up Martin," the school nerd. But it comes out "eat up Martha", and after that the machine is simply thrown at Martin.
Ralf Pfeifer / Wikimedia
Jan 141998

iMac boosts profits

The firm swings to a first-quarter profit of $47 million, as it tighten cost cutting and boosts sales of its new iMac G3 computers. This was the first time the struggling computer manufacturer had been in the black for over a year, in the same period last year posted a loss of $120 million. Results were released after the market closed. However, sales at the streamlined firm fell 26% to $1.57 billion compared to a year ago. Shares lifted 2.9% to $19.19 on the first day of trading after the results.
Oct 271997

Market crash

A mini crash hits world markets, caused by the ongoing Asian economic crisis, which results in the third biggest points drop ever seen on the Dow Jones US market along with smaller losses around Europe. After overnight falls in Hong Kong and Japan, markets in New York tumbled with the Dow hitting two circuit breakers on the day that ended trading 25 minutes early. The Dow Jones Industrial Average fell 554.26 points, or 7.2%, the S&P 500 fell 6.9% and the Nasdaq Composite fell 7%. Analysts also saw the crash as a correction to overheated markets, which had doubled in value over the last 30 months. Between October 27-28 US securities markets fell by a record absolute amount on then-record trading volume. Apple stock didn’t fare too badly though, bouncing back by 7.41% on October 28.
Oct 201997

DoJ pursues Microsoft case

In its continuing battle with the world's largest software company, the US Department of Justice (DoJ) asks a federal court to hold Microsoft in contempt for alleged anti-competitive behavior in the internet browser market. The move sparks fears over government intervention in the wider tech market, and Apple stock falls 7.1% to close at $18.69. Microsoft dipped as much as five points immediately following the announcement before closing 1/4 point higher at 132-1/2 in heavy Nasdaq trading. US Attorney General Janet Reno said the government would ask a federal district court to impose penalties of $1 million-per-day on Microsoft for allegedly not complying with a 1994 consent decree, aimed at barring Microsoft from imposing anti-competitive terms in its contracts with computer equipment manufacturers that pre-install Microsoft software. The DoJ said the nation's largest software company violated the consent decree by trying to use its leverage to require PC manufacturers to license and distribute Microsoft's browser, Internet Explorer, along with the company's new operating system Windows 95. By January 1997, Microsoft controlled 85% of the operating systems market.
Forcing PC manufacturers to take one Microsoft product as a condition of buying a monopoly product like Windows 95 is not only a violation of the court order but it's plain wrong.
Said Reno. This began a four-year rollercoaster of trials and appeals leading to wins and losses for both sides, concluding with a November 1, 2002 settlement, finally approved on June 30, 2004 in a US appeals court, limiting Microsoft's control over the industry.
Oct 161997

Record annual losses

Apple reports a net loss of $1.05 billion in the year to September 27, compared to a $816 million loss the previous year as the firm "continued to experience declines in net sales, units shipped and share of the personal computer market compared to prior years." Investors, betting that Apple has hit rock bottom, push the stock up 9.7% to $21.50. Revenues come in at $7.1 billion, a 28% slump. The firm said during 1997 it cut headcount, simplified its product line and increased its mail order operation. IT said it will continue cost-cutting measures next year. But it warned:
There is no assurance that such decreases in operating expenses will be achieved or that, if achieved, such reductions will be sufficient to offset the decline in the Company's net sales.
it confirmed in its later annual report.
Sep 161997

Jobs back in the driver’s seat

Apple names Steve Jobs interim CEO of the company, two months after the resignation of Gil Amelio. The board says it expects a new CEO will be named before the end of the year. But Wall Street expected there to be tension between the forthright Jobs and whoever becomes the new CEO.
There is speculation that whoever gets in there will be second-guessed on a daily basis by Steve Jobs.
Said JP Morgan analyst Daniel Kunstler. At around this time, Dell Computer chairman and CEO Michael Dell, when asked what he would do if he was in charge of Apple Computer, said: "I'd shut it down and give the money back to shareholders." Shares close down 2% at $21.94.
Reuters / USA Apple
Aug 061997

Shock Apple-Microsoft alliance

At the Macworld Expo in Boston, Steve Jobs and Bill Gates announce a five-year alliance of Apple with Microsoft, which will see the Seattle-based firm invest $150 million in Apple. Shares jump 33% to $26.31. As part of the agreement, which stunned the market, Microsoft was to offer a new version of its Office software, designed for the Macintosh platform. In the meantime, Apple agreed to bundle Microsoft's still-struggling search engine, Explorer, into its Mac Operating System. Jobs said: "If we want to see Apple move forward, we have to let go of a few things here. We have to let go of the notion that for Apple to win, Microsoft has to lose." Gates, speaking by satellite, added:
We think Apple makes a huge contribution in the computer industry. And we think it's going to be a lot of fun helping out.
Jobs joined a revamped Apple board of directors along with Oracle boss Larry Ellison. But the firm lost Mike Markkula, the company's first angel investor, who had been a board member for 20 years. Critics suggested Microsoft was behind the deal because it was anxious to keep Apple afloat. A collapsed Apple would have left Microsoft with a virtual monopoly in the software market, which would likely have resulted in a probe from competition regulators in Washington.
Jul 161997

Q3 losses hit hard

Apple reports a net loss of $56 million for the third quarter to June 27, compared to $32 million a year ago, as the firm continues to cut costs. Shares slip 4% to $32.75. The troubled business had reported a loss for six of the last seven quarters. CFO Fred D. Anderson was now in day-to-day control of the company since the resignation of Gil Amelio as CEO and Ellen Hancock as CTO the previous week. Anderson said:
Our financial goals are to continue to reduce operating expenses and to return the company to profitability. Though we do not expect to return to profitability in our fourth fiscal quarter, Apple's management team is sharply focused on that objective.
Shares lifted 3.1% to $16.44 as investors took the chance to pick up the company on the cheap.
Jul 091997

Amelio resigns

Gil Amelio resigns as CEO. His severance package is about $7.5 million. Ellen Hancock also resigned as CTO. Shares edged up 0.5% to $13.69, in what was the lowest closing price of the firm this year. Later in the month, Jobs decided to not take on the role of Chairman (and CEO) of Apple, preferring to remain as head of Pixar film animated studios.
Jun 261997

Jobs sells stock

Steve Jobs sells 1.5 million Apple shares for around $15 a share, netting up to $22 million. This is stock he received in December as part of Apple's purchase of the NeXT Software company he founded after leaving the business. Apple stock drops 2.9% to $14.69, an 11-year low.
Apr 171997

Record first-quarter losses

Apple reports a second-quarter loss of $708 million, the largest for a Silicon Valley company, due to write-downs against more than $1 billion in unsold products and restructuring costs. However, shares lifted 2.4% to $19.00, as investors looked to pick up the stock on the cheap. Part of the loss included a previously announced charge of $155 million, mostly to cover the elimination of 4,100 full-time and part-time positions, a third of its workforce. It also booked $375 million for its acquisition of software rival NeXT, whose technology it plans to use as its new operating system. On top of this, the firm reported an operating loss of $186 million, or $1.48 per share, for the quarter. Analysts had expected an operating loss of around $1.19 per share.
Apr 021997

Saudi Prince bags Apple stake

Prince Waleed bin Talal of Saudi Arabia acquires 5% of Apple for $115 million, becoming the company's largest shareholder. Apple stock lifts 10% to $19.25 over the next three trading sessions to 4 April. The nephew of King Fahd of Saudi Arabia also owned stock in Citicorp, Euro Disney as well as several luxury hotels including New York's Plaza Hotel, San Francisco's Fairmont Hotel, and the Hotel George V in Paris.
Mar 191997

Anniversary Mac unveiled

Apple Computer formally unveils the 20th Anniversary Macintosh computer. The computer, priced at a massive $7,499, is more slimline compared to others in the market, and comes with a trackpad instead of a mouse as well as a built-in TV tuner. Shares slip 0.8% to $16.12 on the day, but jump 7% to $17.25 in the following session.
Mar 141997

Staff cuts

Apple Computer terminates 2,700 out of 11,000 full-time positions, and 1,400 contract or temporary positions. The OpenDoc and Open Transport software projects are also dropped, as is the Performa brand name for its Mac computers. Stock lifts 1.1 % to $16.56.
Feb 271997

Pippin bows out

The Apple Pippin games console is discontinued, less than a year after launch. The console, launched in September 1996, was forecast to sell 300,000 units in its first year, but sells just 30,000 units in Japan and 12,000 units in the US. Existing PlayStation, Nintendo, and Sega consoles proved more popular, leading to game developers and users to ignore Pippin when it hit the market. Shares edged up 0.7% to $17.00.
Feb 041997

Apple completes NeXT acquisition

Apple Computer's acquisition of NeXT Software is complete. Total cost is $427 million ($27 million higher than originally set out), with the stock responding by falling 5.8% to $15.38. Apple CEO Gil Amelio also announced a restructuring of the company to focus on the Mac OS and Macintosh hardware. Co-founders Steve Jobs and Steve Wozniak joined the executive committee as advisors to Amelio.
Jan 161997

Poor Christmas sales

Apple posts a loss of $120 million for its first quarter, blaming poor Christmas sales of its Performa Mac line. Shares fall 2.9% to $16.75. The Cupertino firm was forced to introduce price cuts on these machines in the period. It also failed to make enough of its new Powerbook 1400 notebooks, launched last October, to meet demand, resulting in an order backlog of $200 million. The group said that it did not expect to return to profitability until the fourth quarter in September. Apple's $120 million loss compared with a loss of $69 million in the same period a year ago. Sales slumped 32% lower to $2.13 billion. Earlier in the month, the firm forecast that it would make a loss of between $100 million and $150 million in its first quarter. The loss of $120 million was equivalent to 96 cents a share, higher than average analyst estimates of 75 cents a share.
While we were very disappointed by the Performa sales results and the associated loss, our financial position remains sound.
Apple chief financial officer Fred Anderson said in a conference call.
Jan 071997

Jobs and Wozniak together again

At the Macworld Expo, Steve Jobs and Steve Wozniak appear together on stage for the first time since 1984. Despite the historic reunion, shares slip 2.1% to $17.50 on the day. Apple announced plans to release an operating system code-named Rhapsody in 1998 that will run current applications, Next OS applications, and Java applications. The new OS will feature pre-emptive multitasking and protected memory. Apple also demonstrated a limited edition 20th anniversary Macintosh, featuring a flat-panel display. Later in the month, Apple CEO Gil Amelio said Apple might drop the Newton line of handheld computers.
Dec 201996

Apple buys NeXT as Jobs returns

Steve Jobs rejoins Apple in a momentous moment that proves, eventually, to be a pivotal moment for what was to become one of the world’s most powerful firms. Shares lift 5.6% to $23.50 on the day. Scott Fitzgerald might have said that there are no second acts in American lives, but in one case at least, he was wrong. When Steve Jobs walked back through the Apple front door he was kicked out of eleven years before, he would deliver products and profits that would eclipse what he did the first time around. More than a decade ago, Jobs and co-founder Steve Wozniak helped reinvent the computer industry, by moving them out of laboratories and putting enormous data processing power onto the kitchen tables of ordinary consumers. Over the coming 15 years the iMacs, iPods and iPhones developed and promoted by Jobs would change the way we made calls, took pictures and listened to music. But first, he had to convince Apple bosses to spend $400 million to buy NeXT Software, the rival firm he set up after he was forced out of Apple. Jobs was in luck because Apple's top team, led by CEO Gil Amelio and chief technology officer Ellen Hancock were already out shopping for software. They had scrapped development work on the firm's Copland operating system project in August – because after two years, an annual $250 million budget and a team of 500 engineers, the system was still plagued by bugs, and could not replace the ageing System 7 software Apple machines ran on. Amelio and Hancock urgently needed a system to challenge the power of Microsoft enormously successful Windows 95, launched last year. The pair had been brought into Apple to rebuild the firm's position at the leading edge of the industry. But they were struggling in the face of Microsoft's rising dominance, and there was a growing perception that Apple, with lacklustre products and weak sales, was washed up. The Apple team had held talks with several other system options, including another former Apple executive Jean-Louis Gassee's Be, as well as Sun Microsystems' Solaris. The Cupertino firm even considered using Microsoft's Windows NT. But Jobs heard that Apple was looking for a new operating system and thought his NeXTstep software would fit the bill. The small operation had acquired a strong reputation for making powerful, elegant, software and machines since its launch in 1985. And NeXTstep, which had debuted in 1993, was popular among large corporations and banks for its ability to handle complex information and run custom software. Sun Microsystems chief technical officer Eric Schmidt, before he went on to lead Google, said of the rival system:
The interesting thing about NeXTstep is that it was somewhere between five and seven years ahead of everyone else. It's a beautiful piece of work.
One of Jobs’ team put in a call to Hancock at her office and a meeting was arranged a few days before Thanksgiving. Talks progressed quickly and just under a month later a deal was agreed. NeXTstep OSwould ultimately become the Mac OS X. Bob Metcalfe, co-founder of 3Com, said: "The new team at Apple has Dr Amelio and Ellen Hancock. They are extremely competent, but they lack one thing: charisma. Steve adds that to the mix." So, at 46, Jobs was back at the company he had founded 20 years earlier, as an advisor to Amelio. Just nine short months later he would be interim CEO, and by January 2009 after a long flirtation, he would resume full control of the company as permanent CEO – with no one above him to force him out the way former CEO John Sculley had done in 1985. Everyone loves a happy ending. But we weren’t there yet. The firm was on its knees, and a favorite pastime of young programmers across the sector was to place bets on when Apple would go bust. Could it be fixed? Jobs thought so… and the rest is history.
Dec 191996

Posts annual loss

Apple publishes its annual report which reiterates its FY loss of $816 million, falling from a profit of $424 million a year ago, because in the last nine months of the year the group suffered "a significant decline in net sales, units shipped, and share of the personal computer market”, according to the firm’s annual report. Total Mac computer sales fell at the beginning in the second quarter of 1996, plunging 11%, 19%, and 26% during the 12, nine, and three months to September 27, respectively, compared with the same periods in 1995. The firm said it suffered a fall in “worldwide demand for all product families” which it added was “due principally to customer concerns regarding the company's strategic direction, financial condition, and future prospects.” Apple said it would “ implement a new strategic direction”, which would see it “more selectively” target the education, home, and business markets.” It added:
In moving in this new strategic direction, the Company expects to reduce the number of new product introductions and the number of products in certain categories within its current product portfolio.
Shares fell 3.8% to $22.25 on the day.
Sep 011996

Games console launch

Apple collaborates with Japanese video game firm Bandai to launch the Pippin game console in the US, priced $599, which includes a free six-month unlimited internet account. It will compete against PlayStation, Nintendo, and Sega. Apple stock edged up 0.5% to $24.13 on September 3, the first trading day after the launch.
Evan Amos/Wikipedia
Aug 011996

Apple cancels costly operating system project

Apple Computer, in an admission of defeat, cancels development work on its Copland operating system project. Copland, named after the US composer Aaron Copland, was announced in March 1994 to replace System 7, to widen the performance gap with Microsoft's Windows. Work on the system started well, but bugs begin to appear. The project moved from 50 engineers in 1995, to 500 developers trying to iron out the system a year later with an annual budget of $250 million before it was abandoned, crushed by bugs and mounting company losses. The firm said it would look for an operating system outside the business to run its machines – a plan that would eventually lead to the return of co-founder Steve Jobs. Apple stock drifted up 10.2% to $24.25 at the end of August, after hitting a year low of $16.87 on July 17.
Jul 031996

Apple saves the world

Twentieth Century Fox Film Corporation releases the film Independence Day in the US, which ends up the worldwide top-grossing movie of the year. The film, starring Jeff Goldblum and Will Smith, highlights an Apple PowerBook 5300. At the climax of the movie, Goldman uses the laptop to send a virus into an attacking alien mothership, leaving it open to missile fire, saving the Earth from invasion. So basically, Apple Computer saves the world. However, the PowerBook 5300 was discontinued the following month in favor of higher specification models. Apple shares fell 7.7% to 19.37 on the day, and it came in the middle of an awful year for the firm. Beset by financial problems and buy-out speculation, the stock had fallen over the year, hitting a low of $16.87 on July 17, 47% down on the start of the year.
Feb 021996

Apple boss Spindler fired

CEO Michael Spindler is fired and replaced by Gil Amelio at an emergency meeting of the board of directors of Apple in New York, lifting shares 3.1% to $29.25 on the day. Amelio also took the post of Chairman three days later. One of his first senior recruits was industry veteran Ellen Hancock, who joined as Chief Technology Officer in July.
Jan 241996

Sun bids to buy Apple

Reports break that secret talks between Apple and Silicon Valley rival Sun Microsystems to buy the firm for just $2.76 billion, or $23 a share, have collapsed. Discussions between Apple and Sun (which invented the Java programming language as well as selling computers, components, services and software) had begun weeks before: and on January 12, Apple had reported a surprise $68 million first-quarter loss over the Christmas period, traditionally a strong sales period for the business. Market talk also circulated that America's third-largest PC maker had held acquisition talks with GE, IBM and Philips due to its severe financial problems. No deals eventually went through, and no parties commented. But the board were left in no doubt that they would face investor lawsuits if the Sun deal went through, following feedback from a fiery shareholder's meeting. Apple shares fell 12.6% to $27.63 over the final six trading sessions until the end of the month.
Nov 191995

Strong annual sales

Apple publishes its annual report this month and net income jumps 37% to $424 million, as sales of Power Macintosh machines and accessories lifted 26% over the year. Shares jump 1.6% to $32.75. Total net sales lifted 20% to $1.9 billion. But it was to be the firm's last profit for three years. Worldwide personal computer market share for the year: IBM 13.6%, Apple Macintosh 11%, Compaq Computer 10%.
Nov 171995

Dylan launch abandoned

Apple Computer abandons the release of the Dylan programming language due to the success of Java, which sees shares edge up 0.5% to $40.13. Last August, folk singer Bob Dylan had filed suit in US Central District Court of California in Los Angeles for trademark infringement against Apple Computer's Dylan programming language. The two parties reached a confidential out-of-court settlement at the time.
Nov 091995

Apple Online

Apple Computer buys 5.1% of America Online (AOL) for $12.5 million. The rapidly growing internet provider gives web access to ordinary users, where previously it was only available to universities and colleges. America Online had one million subscribers, but this would jump to five million subscribers by the end of 1996. Apple's move came as it revamped its services, putting its newest features on the web and placing less emphasis on creating programs solely for subscribers. Apple stock slipped 1.3% to $39.37 on the day, but drifted up 5.4% over the following three sessions to $41.50 on November 14.
Sep 151995

Web warriors

United Artists releases Hackers, starring Angelina Jolie and Jonny Lee Miller, in the US. The film deals with how interconnected computers can be exploited. The stock falls 10.3% to $35.87 on the day of release. Several Apple Macs and other personal computers were used throughout the movie to control television programming, traffic lights, building lights, and more. The film debuted at a time when only 14% of Americans had access to the web, according to Pew Research.
Jul 281995

Caught in the Net

Columbia Pictures releases the film The Net, starring Sandra Bullock, in the US. It is one of Hollywood’s earliest attempts at a cyber-thriller, with Bullock playing a systems analyst who finds herself the victim of identity theft. The film featured several types of Apple Macs as well as other PCs.
The computer has so much screen time that we saw it as a character.
Said Todd A. Marks, a longtime video consultant and the movie's display graphics supervisor. In a choppy month for Apple, shares fell 7.1% to $43.50 after the film's release date and the following two sessions.
Feb 211995

Apple at the Supreme Court

Apple's $5.5 billion copyright lawsuit against Microsoft and Hewlett-Packard comes crashing to an end at the Supreme Court after a seven-year battle. Shares fall 3.5% to $41.00. The Supreme Court denied hearing Apple's appeal, letting existing rulings stand that went against the Cupertino firm. In September, the Court of Appeals in San Francisco upheld the ruling of a Federal judge who dismissed Apple's suit in 1993. The lower court had ruled that the majority of the screen displays were covered by an existing licensing agreement Microsoft had signed with Apple that allowed the Seattle-based firm to market a similar product. In the original 1988 suit, Apple had alleged that Microsoft's Windows 2.0 and Hewlett-Packard's New Wave software breached its graphical user interface patents. This software allowed users to operate the machine by pointing at symbols on the screen using a mouse rather than by typing in commands, which rapidly became the industry standard.
Jan 191995

A million Macs

Apple Computer ships its millionth Power Macintosh computer or upgrade worldwide. Stock edges up 0.6% to $45.87.
Dec 131994

Net income jumps three-fold

Apple publishes its annual report and net income jumps more than three-fold to $310 million over the year, due to a 16% sales lift of its Mac machines, particularly its Power Macintosh products and its Macintosh Performa lines. Overall revenues jumped 15% to $1.2 billion, the group annual report shows. The stock rose 6.8% over the remaining sessions to close the year at $39.00. The worldwide market share for personal computers ended the year with Compaq Computer at 10.3%, Apple Computer at 9.4%, and IBM at 8.5%.
Nov 091994

Gil Amelio moves onto Apple board

Gil Amelio is elected to the board of directors of Apple Computer. However, most investors are wary and the stock falls 1.5% to $41.62 on the day. Amelio came with a reputation as a talented turnaround specialist. He arrived after an impressive revitalization of IT business National Semiconductor and industrial conglomerate Rockwell International before that.
Aug 241994

Apple versus Bob Dylan

Folk singer Bob Dylan files a suit in US Central District Court of California in Los Angeles for trademark infringement of Apple Computer's Dylan programming language, which was soft-launched on 16 May. Shares edge up 0.3% to $34.88 on the day. The Dylan language internally was code-named Ralph and only later adopted its name, chosen by James Joaquin. It supposedly stood for “DYnamic LANguage.” Apple reached a confidential out of court settlement with the singer (real name: Robert Zimmerman), licensing use of the trademark name.
Mar 141994

Apple releases new operating system as part of IBM-Motorola alliance

Apple Computer releases the System 7.1 operating system for the Macintosh. Shares lose ground over the next 12 sessions, falling 12.7% to $32.75. This project is seen as a far-reaching mistake from the Sculley era. The firm had spent a lot of time and cash developing System 7 for the brand-new IBM/Motorola PowerPC microprocessor instead of using the dominant Intel processor architecture. Most software was written for Intel processors at this time, and its processors only become cheaper and more ubiquitous over the coming years. However, the System 7 software, first introduced in 1991 and later renamed Mac OS, would remain in place until 2001.
Dec 011993

Price war slashes income

Apple publishes its annual report this month and annual net income plummets 84% to $87 million, hit by failed products and a price war in the personal computer market that has slashed prices by 30% compared to a year ago. However, sales lifted 13% to a record $8 billion. Market share of personal computers worldwide during the year: IBM 10.8%, Apple Computer 9.4%, Compaq Computer 8.1%. Apple shares lost 7.1% over the month to close the year at $29.25.
Nov 151993

Apple II workhorse retired

After 16 years, the Apple II product line is quietly discontinued on a Sunday. The machine helped popularize home computers and made Apple a driving force in the developing industry. It was a commercial success, liked for the fact that users could add a range of extensions, such as spreadsheets, to the machine. It had sold between five and six million units by the time the firm plugged the plug. Apple stock dipped 1.6% to $53.00 at the end of the next day of trading.
Oct 151993

Sculley resigns as Chairman

John Sculley announces his resignation as Chairman of Apple. He is replaced by Mike Markkula, who was Apple's first major backer when it was a private firm. Shares tumbled 19 % on the day to close at $28.25. During Sculley's reign, the company's sales grew tenfold, from $800 million a year to $8 billion, and he was credited with helping the industry push the personal computer beyond the office and into the homes in America and around the world. But Apple was in trouble because it had failed to launch any killer products in recent years. Nine months before Sculley had sat beside Hillary Clinton at President Bill Clinton’s first State of the Union address in January, the model of the modern CEO. But he’d already been replaced as CEO by Spindler a few months before, and now he was looking for work. How the mighty are fallen.
Aug 241993

Apple loses Microsoft appeal

Apple loses its appeal in the $5.5 billion 'look and feel' lawsuit that had ruled in favor of Microsoft in June. It had been a five-year battle against Microsoft Windows. Apple stock fell 8.4 % over the next six sessions to $26.00 on August 30.
Aug 021993

Newton MessagePad launch

Apple launches the Newton MessagePad 100 at Macworld in Boston's Symphony Hall, priced at $699. The stock lifts 2.7% to $28.50 on the day. The device could take notes, store contacts, and manage calendars. It could also send a fax and translate handwriting into text, although this last feature worked poorly and became the butt of a long-running joke picked up by the media.
Ralf Pfeifer / Wikimedia
Jul 161993

Apple books $321 million charge

The company books a $320.9 million charge against earnings for restructuring, resulting in a loss of $188.3 million in the third quarter ending June 25. Apple shares plummet 23%, closing at $27.50 on the day. In the same period last year, Apple earned $131.7 million, or $1.07 a share. Apple said it could get growth back on track by aggressively pursuing market share and paring operating costs. It planned to lay off nearly 2,500 staff, 15% of its worldwide workforce. But analysts questioned how Apple's earnings could rebound if the company was forced into serious price discounting on its personal computers, noting that gross margins had slipped again in the quarter, and that inventories were swelling while cash reserves were shrinking. Apple's shares were now trading at less than half their January price of around $65 each. Analysts said they expected the stock to remain below $30 for some time.
Jun 191993

Sculley steps down

Between the high-profile flops and the costly decision to move to the Power Mac range, Apple's board has had enough of its CEO and ditches John Sculley. Shares fall 3.6% to $39.62 on the following trading day after the announcement, June 21. The move came after Apple missed its first-quarter earnings estimates, and warned that it would likely miss the coming quarter's forecast asl well due to a price war in the industry. Sculley stepped down and was replaced as CEO by Michael Spindler, although he remained as Chairman. In April Sculley, with the Newton launch slated for later that year, said: "I can see the day when Apple won't be in the personal computer business." But just two months later, it was Sculley who wasn't in the personal computer business. See what we did there?
Ed Kashi / Corbis
Jun 021993

Apple loses lawsuit

US District Court Judge Vaughn Walker gives his final ruling against Apple in its $5.5 billion 'look and feel' lawsuit against Microsoft and Hewlett-Packard that has lasted five years. The case was important because rival makers had increasingly adopted the user-friendly graphics that had originally given Apple its lead in the 1980s. But the judge ruled that 90% of the elements in Windows were covered by Microsoft's 1985 license with Apple. Apple Computer filed an appeal. Apple lawyer Edward Stead said:
We think it is important that innovative graphical computer works receive the protection to which they are entitled under the copyright law.
But Microsoft attorney Bill Neukom said:
In order to have a copyright infringement, you have to copy. And we didn't copy.
Apple stock plummeted 22.4% to $44.25 over the next eight sessions to 9 June. However, Microsoft stock also slipped 5.6% over the same period, as investors awerere unsure of how the Seattle-based firm would take advantage of the ruling.
Feb 091993

Ten million Macs and counting

Apple ships its 10 millionth Macintosh computer, a Mac Color Classic. But the competition was getting tougher with Microsoft poised to announce in April that Windows was now being used by over 25 million customers worldwide since the 3.0 version was released three years ago. Apple stock fell 11% to $53.00 over the month.
Dec 171992

Laptop sales boost profit

Apple publishes its annual report this month which reiterates that its annual net income jumped 70% to $530 million, driven by high-margin laptop sales. Apple stock rises 4% to $59.75 over the month. Sales lifted 12.7% to $7.1 billion. Market share of personal computer shipments in the US for the year: Apple Computer 12%-13.4%, IBM 10 %, Compaq 5.6%.
Oct 161992

PowerBook racks up $1 billion sales

One year after the introduction of Apple's PowerBook, its sales top $1 billion, making it the first laptop to break that mark. More than 400,000 PowerBooks had been shipped since launch. The stock lifted 7.7% to $49.00.
Everyday basics / Unsplash
Oct 011992

Apple begins mail-order sales

Apple begins direct mail-order sales, which is seen as a surprise move for the firm. The company, like most computer manufacturers, previously shunned this sales method, preferring an extensive network of distributors and resellers. The majority of manufacturers argued that consumers needed trained salesmen to buy and properly customise their complex products. However, the 19-year-old Michael Dell had stuck to the mail-order route he first used when he began selling personal computers from his college dorm in 1984, growing it into a multi-billion dollar operation. At the time, Dell's customers were able to talk to a company salesperson over the phone, and later online, order a customized PC with accessories, and have it delivered two days later at a price that was 10% to 15% lower than comparable rivals. Apple, under CEO John Sculley, a former PepsiCo president, decided to explore the same route.
Sep 141992

Apple launches Performa

Apple launches its Performa range of Macs, which are lower specification machines designed for the mass home computer market. Shares lift 4% to $49.50. These machines were adapted from existing Macs, such as the Classic II, but were rebadged and bundled with programs such as ClarisWorks so buyers could use them right out of the box. Also, they were not sold through specialist dealers, like their machines targeted at the education and design markets, but instead were on sale at general retailers and department stores such as Sears. The first three models to launch were the Performa 200, the Performa 400 and the Performa 600 ranging from $1,000 to just under $3,000. The range produced more than 60 models in five years, but came under pressure following the release of Microsoft's Windows 95 in August 1995, when there was consumer demand for Microsoft-compatible machines. After this, fewer new models were launched. The range was killed off when the firm added to its Power Mac range, with the Power Mac 5500 and Power Mac 6500 in February 1997. The firm, under Steve Jobs who returned to Apple in September 1997, was already working on its new machine aimed at the mass market, the iMac, which would be introduced just over a year later in May 1998.
Sep 031992

Apple beefs up laptop range

Apple Computer discontinues the PowerBook 100, which is superseded by the PowerBook 145 and PowerBook Duo series. These laptops, aimed at the business market, arguably mark the moment that Apple became a mobile-first company. PowerBooks helped Apple soar to its most successful fiscal year to date in 1992. The stock drifted up 2% over the next 11 sessions to $49.50.
May 291992

Newton on show

At the Spring Consumer Electronics Show, Apple announces the Newton, a handheld computer that operates with an electronic pen. Shares jump 3.8% to $57.50 the following day. This product, championed by Sculley, was the forerunner of the tablet computer and the smartphone, but because of delays would not end up launching for more than a year.
Apr 141992

Judge rules against Apple, for Microsoft

US District Court Judge Vaughn Walker upholds a lower court ruling that in the Apple Computer versus Microsoft and Hewlett-Packard lawsuit, most of the elements Apple is contesting are covered by firm’s previous agreement with Microsoft, or were not copyrightable in the first instance. Apple stock drifted down 4% over the next two weeks to $54.25 on April 28. A US District Court Judge upholds a lower court ruling that in the Apple Computer versus Microsoft and Hewlett-Packard lawsuit, most of the elements Apple is contesting are covered by firm’s previous agreement with Microsoft, or were not copyrightable in the first instance.
Jan 221992

Jobs on the move at NeXT

At the first NeXTWORLD Expo, held in San Francisco, Steve Jobs announces that a version of the NeXTSTEP operating system will be made for Intel-based personal computers. Apple stock rises 3.9 % on the day.
Jan 091992

Apple signals a new market

At the Winter Consumer Electronics Show at the Conrad Hilton Hotel in Chicago, Apple CEO and Chairman John Sculley coins the term Personal Digital Assistant, referring to a new generation of handheld computers, which will lead to the launch of its Newton MessagePad next year. This is important, because Apple and its rivals had already created a new market by moving computers from the office into the home. Now the firm was trying to move high-tech products into the pockets of consumers. The stocks lifted 7% over the next eight sessions to $64.75 on January 17.
Dec 201991

Wintel rivals take bite out of Apple

Apple publishes its annual report this month and annual net income plunged 35% to $310 million, as the firm lost market share to IBM PCs and Wintel compatible rivals. Sales lifted 12% to $6.3 billion though, and the stock still jumped 11.1% over the month to close the year at $56.37, as strong end-of-year PowerBook sales figures were released to the market.
Oct 211991

Apple launches laptops

Apple debuts the PowerBook 100 laptop, priced at $2,300, as well as the more powerful PowerBook 140 and PowerBook 170. These sophisticated machines allowed users to do most things you can do on a desktop computer. The PowerBook 100, co-designed by Sony, was a success, turning laptops into mainstream technology and generating over $1 billion in revenue for Apple in its first year. The firm also passed Toshiba and Compaq as the market leader in worldwide share of portable computer shipments over the next 12 months. But Apple stock slipped 0.5% to $54.75 on the day.
Oct 091991

Apple versus the Beatles

Apple settles its second suit with the Beatles Apple Corps, agreeing to pay them $26.5 million. The Fab Four-owned Apple Corps had sued Apple, arguing the tech group's musical instrument digital interface software on Macintosh computers violated a 1981 agreement (the first suit between the firms) that the Cupertino-based business would never enter the music business. The new agreement between the pair gave the tech firm the rights to the apple logo for selling computers and software – while the Beatles' Apple Corps retained the rights for producing and selling music. Apple stock slipped 2.1% over the following two sessions to $47.75 on October 11.
Aug 281991

Email from space

The first email message from space to Earth is sent by the crew of space shuttle STS-43 Atlantis, using a Macintosh Portable computer and AppleLink software. Investors are unmoved, with shares slipping 1.4 % to $53.25 on the day.
Jul 031991

Apple strikes alliance with IBM

Former rivals Apple and IBM sign a technology-sharing agreement, joined by Motorola in October, which becomes known as the AIM alliance. Stock rises 11.8% over the next seven sessions to close at $47.25 on July 10. The move was designed to defend the hardware maker's position from the growing dominance of Microsoft and chipmaker Intel, referred to as the Wintel duopoly. The agreement between the trio allowed Apple to develop its successful Power Macintosh line. However, the alliance of Apple, favored by creative industries, and corporate behemoth IBM, brought together two very different companies. Richard Shaffer, publisher of Computer Letter, said the tie-up was "like a surfer girl marrying a banker".
Apr 121991

Apple bounces back from recession

Apple emerges strongly out of an eight-month recession that would eventually cost President George H. Bush a second term and usher in Bill Clinton as the new President. The recession was sparked in August 1990, after Iraqi forces invaded Kuwait, according to the National Bureau of Economic Research. It was caused by a mix of rising interest rates and falling property prices, leading to lower investment and job losses. However, a high-tech firm such as Apple was seen as a good bet, with its stock jumping 70% since the start of the year to hit an all-time high of $73.02. By contrast, the S&P 500 rose just 15.2% over the same period.
Nov 121990

Spindler on the rise

German-born Michael Spindler becomes President of Apple Computer and a member of the board of directors. It’s the second promotion for Spindler this year after being made Chief Operating Officer, overseeing worldwide manufacturing and marketing units on January 29. Apple stock lifts 2.1% on the day to $36.25. Spindler joined Apple in 1980 from the European sales office of chipmaker Intel, where he met Mike Markkula, who went on to become Apple’s first major angel investor and its second CEO. The German Spindler – nicknamed The Diesel because of his liking for 18-hour working days – quickly moved through the European ranks. He became European Executive Vice President of marketing in 1983, later becoming head of Apple Europe. Over the next seven years the European division grew rapidly, as Spindler allowed regions the independence to release specialized machines and develop their own marketing campaigns. Spindler was then handed two quick promotions in Cupertino that brought him into the heart of Apple's business. In three year’s time he would become its CEO.
Oct 181990

Apple lifts annual sales

Apple's net income grows 4.6% to $475 million as the group computer shipments hit 1.7 million units. Full-year sales lift 5% to $5.6 billion. However, fourth-quarter earnings plunged almost 39% to $98.5 million, as the firm cut back on production to make way for a range of lower-priced Macs to be introduced later in the year. CEO John Sculley told the market these Macs would be lower margin, but would sell in higher volumes than previous higher priced machines. Apple stock slumped 9% to $62.25 on the first trading day after the announcement.
Oct 041990

Apple in primetime

Fox Network airs the hit Beverly Hills 90210 TV show in the U.S. The school newspaper room in the US teen drama uses several Macintosh computers. Shares rise 3.7% to $28.00 on the day.
Courtesy of Fox
May 221990

Microsoft surges ahead

Microsoft releases Windows 3.0, which allows the firm to cement its PC market operating system dominance. As computers became more powerful with bigger memories, Microsoft software allowed ordinary users to smoothly run more than one program at a time, such as Word and Excel, on modestly priced machines. By this time, Microsoft had established partnerships with developers around the world, allowing the software, priced at $149.95, and the upgrade version at $79.95, to run a host of games and business applications on its software. By comparison, Apple sold Macs, which offered an excellent, but limited library of software on expensive computers that were not compatible with Microsoft. Apple sold 1.3 million Macs that year. However, Microsoft, three months after the launch of Windows 3.0, shipped one million copies worldwide. By the following year, that number had hit four million. Also, by 1993, 60% of personal computers shipped worldwide had Windows programs pre-installed. Apple stock drifted down 3.1% over the next three weeks to June 8 to $38.25. Microsoft's stock, over the same period, lifted 4.1%.
Mar 231990

Xerox loses $150-million suit against Apple

US District Court Judge Vaughn Walker throws out five out of six claims in Xerox’s $150 million lawsuit against Apple Computer in San Francisco. Xerox, which launched the suit in December 1989, said it would appeal. Apple stock lifted 3.7% on the news at $42.25.
Dec 151989

Xerox files $150m suit against Apple over a mouse

Xerox files a $150 million copyright suit against Apple at the Federal District Court in San Francisco, alleging that the Cupertino firm copied its technology and designs without permission to create the Macintosh computer. Shares fall 3.2% to $33.75. The suit claimed that the ground-breaking mouse and graphical user interface on Apple's Lisa computer infringes on work first completed by Xerox. This interface allows users to instruct the computer by pointing at symbols on the screen using a mouse rather than by typing in commands. Xerox said this breakthrough was first made by its scientists at its Palo Alto Research Center in the late 1970s. It was uncontested that Steve Jobs and an Apple team were invited to the center in November 1979, and shown Xerox's shown Smalltalk, the first computer language using a mouse. Apple debuted Lisa in January 1983. Xerox's chairman and chief executive David T. Kearns said in a statement:
Xerox is not a litigious company, but we have no other recourse than to seek relief from the court for actions we believe to be unlawful and unfair and, if allowed to continue unchallenged, to be against the interest of Xerox, its shareholders and the computer industry.
The Connecticut-based firm's suit was for $100 million in royalties and $50 million in damages. Apple said it would fight the claim. A company spokeswoman said:
The Xerox complaint seems to confuse the distinction between ideas and expression; copyright protects expression, not ideas. The spokeswoman added that the firm intends to prove in court that the audio-visual expressions in the Lisa and Macintosh interfaces were wholly original to Apple and duly registered with the copyright office.
The previous year, Apple had filed a suit against Microsoft and Hewlett-Packard over their use of graphical user interface software, which it said breached its patents. Legal observers said that the length of time Xerox took to file its claim would weaken its case that the technology used in Lisa was stolen from the larger company.
Dec 121989


David Levy is the first master chess player to be defeated by supercomputer program Deep Thought, losing 4-0 over a two-day contest, demonstrating the power of computing. Deep Thought was built by Carnegie Mellon University, and was the predecessor to IBM's Deep Blue, which would become the first machine to beat a world chess champion, Garry Kasparov, in May 1997. However, Apple shares fell 20 % over the month to close December 29, the final trading day of the year, at $35.25 as investors continued to react to disappointing reviews of the firm’s portable Mac.
Sep 201989

Moveable Mac

Apple releases its first portable Macs, the Macintosh Portable, a short-lived experiment that, while sadly doomed to eventual failure, were a valuable precursor the firm’s eventual revolutionary machine design. The computer weighed in at 16lbs, most of which was due to the heavy lead acid batteries needed to power it. Despite that, users often had problems switching the device on – which must have been pretty annoying given that they cost a hefty $6,500. However, the initial buzz around the launch lifted the stock 1.4% by the end of the day to $44.62.
Jul 251989

A bad day in court

Apple's $5.5 billion suit against Microsoft and Hewlett-Packard suffers a major setback when the bulk of its copyright infringement claims are thrown out of court. The firm alleged that its two rivals had breached its graphical user interface patents, which allowed users to operate computers by pointing at symbols on the screen using a mouse rather than typing in commands. The bold new method was gradually being adopted as the industry standard. But Judge W. Schwarzer ruled that 179 of the 189 disputed displays were covered by an existing license that Apple had signed with Microsoft in 1988, a year before it first brought its suit against the Seattle rival. The Federal District Court in San Jose, California added that most of the other 10 displays were not violations of Apple’s copyright because they counted as ideas, which could not be copyrighted. Apple vowed to appeal the case, but the loss struck hard at the firm's business. During the 90s its sales struggled to keep pace with the Microsoft/Intel duopoly, which was dominating the industry. Much of the bad blood between the two firms over the next decade could be traced back to this ruling. Shares fall 1.3% to $38.75
Mar 291989

And the Oscar goes to...

Steve Job's Pixar picture Tin Toy becomes the first computer-animated film to win an Academy Award, taking the Oscar for Best Animated Short Film. Pixar continued producing movies, including 1995's Toy Story, the first full-length feature film created entirely by computer animation. They’re pretty good at what they do. It wasn’t anything to do with Apple, but the stock lifted 1.5% the following day to $69.50, despite no other major announcements or updates. Investors seemed to have confidence in Apple, following the success of its now-departed founder.
Mar 121989

Internet startup

Tim Berners-Lee, a British scientist, invents the World Wide Web, reportedly whilst working on a NeXT computer. At CERN, the European Particle Physics Laboratory in Geneva, he published a paper called 'Information Management: A Proposal'. In it he married up hypertext with the internet, to create a system for sharing and distributing information not just within a company, but globally. In the week following this seminal yet at the time unpublicized event, Apple slipped 1%, reaching $69.75 by March 17.
Feb 231989

All the wrong notes

The Beatles’ Apple Corps recording company sues Apple Computer for marketing products with music synthesizing capabilities, claiming a violation of a 1981 trademark-coexistence pact. It wouldn’t be the last legal dispute between the two Apples by a long shot. In fact, it was the starting shot in a battle that would drag on for almost two decades, before eventually limping to a final conclusion in 2007. Shares slipped 2% to $72.00 the first trading day after news of the suit was announced.
Jan 181989

Cautious start to the New Year

Net income for the first quarter of the year lifts 16% to $140.5 million, compared to the previous quarter. Revenue, traditionally Apple's strongest period because of Christmas sales, jumps 36% to $1.41 billion. The firm guided the market to lower annual sales at the end of the year, however, as it cut prices by between 9% to 25% on products such as hard disk drives and high-end laser printers. Shares slumped 9% to $40.38.
Nov 021988

World’s first hacking trial

Robert T. Morris, a 23-year-old son of a computer security expert for the National Security Agency, sends a nondestructive cyber worm through the internet, causing major problems for days for about 6,000 of the 60,000 hosts linked to the network. Two years later, the Harvard graduate would be the first person convicted under the Computer Fraud and Abuse Act, and ordered to complete 400 hours of community service. Morris later said he did not mean to cause harm, and only sought to estimate the size of the web. Apple stock fell 2% to $37.25 on the day.
Oct 021988

Mac makes inroads

Earnings this month show annual net income up 84% to $400.3 million. Sales increased 53%, to $4.07 billion, due to strong sales of the Macintosh II, and steady growth in the education market. However, shares slipped 10.7% to $38.62 by the end of the month.
Sep 171988

New model

The firm releases the Apple IIC Plus model, which does away with the 5.25-inch floppy in the Apple II line and switches over to the 3.5-inch disk. Despite the introduction of the Macintosh, the Apple II introduced in 1977 would remain a strong seller for another decade. Shares lifted 3.6% over the next five trading days to $43.75
Users SCEhardt, Apple2gs on en.wikipedia / Wikimedia Commons
Mar 171988

Apple versus Microsoft versus Hewlett-Packard

Apple files a $5.5 billion suit against Microsoft and Hewlett-Packard for a "look and feel" copyright infringement, in a case that even to this day determines how people use computers. Shares fall 1.4% to $45.00. The Cupertino firm alleged that Microsoft's Windows 2.0 and Hewlett-Packard's New Wave software breached its graphical user interface patents. Apple first used this software in its groundbreaking Lisa computer, which it launched in January 1983. The software allowed users to operate the computer by pointing at symbols on the screen using a mouse rather than by typing in commands. The intuitive design popularized computers among casual consumers, helping them spread from their hobbyist base, and was quickly taken up across the industry in the early part of the 1980s. This was a period when many copyright lawsuits were filed by computer firms as the new industry sought to test which innovations they could keep to themselves, and which would be considered industry standards that built on the prior work of other firms. This case, filed at the Federal District Court in San Jose, California, involved three of the biggest names in the business and would drag on for seven long years. An Apple spokeswoman said the size of the claim against its two rivals showed that it was "serious about protecting its audiovisual display.” Microsoft and Hewlett-Packard both said Apple's suit was without merit and vowed to contest it.
Oct 011987

Annual sales

Annual earnings reported this month show that net income is up 41% to $217.5 million, while sales lifted 42% at $2.66 billion. But the stock plunged 31.6% by the end of the month as Apple fell foul of the legendary stock market crash of 1987: culminating in the dark day of October 19 when the Dow Jones Industrial Average lost almost 23% of its value – more than it lost in a single day throughout the whole of the 2008 financial crisis.
Jun 161987

First stock split

Apple splits its stock for the first time in a dividend 2-for-1 split, seven years after becoming a public company. The move kept share prices low enough to make them accessible to investors. Stock closed down 0.6% to $83.00 at the end of the day (adjusted).
Apr 221987

New dividend

Apple says it will issue its first corporate stock dividend of $0.06 a share under CEO John Sculley, and will also split its stock on a 2-for-1 basis on June 16. Jobs famously opposed dividends, saying these investor payouts hurt the firepower the firm had for acquisitions and product development. Stock lifted 2.4 % to $76.00 on the first trading day after the announcement though.
Feb 191987

Apple dotcom

Apple registers the domain name, making it one of the first 100 companies in the world to register a .com address on the nascent internet. Always ahead of its time. Stock rose 12% over the next five trading days to $70.00.
Dec 011986

Restructuring stock

Apple's annual report is released this month and reiterates that in the year to September 26, the firm's net income jumped by 151% to $154 million. This was despite flat sales of $1.9 billion, as higher-end machine sales were weighed by lower sales and price cuts among lower specification models. Stock edged up 1.3% over the month to end the year at $40.50.
Nov 261986

To boldly go . . .

Apple makes a memorable cameo in Star Trek IV: The Voyage Home when chief engineer Montgomery ‘Scotty’ Scott mistakes the mouse of a Mac Plus for a microphone and tries to talk to the computer. Stock rose 6.2% in the trading week following the film's release to $42.75.
Star Trek IV: The Voyage Home
Feb 031986


Jobs, who left Apple on September 16, 1985, invests $10 million in computer graphics studio Pixar, a spinout from Lucasfilm. The deal was made up of $5 million for exclusive rights to graphics technology developed by Lucasfilm, and another $5 million to capitalize the company. Jobs took a 70% stake in the business. On the same day at Apple, stock lifted 3.2% to $23.88, 0.5% higher than the Nasdaq Composite, on the news that rival Microsoft was set to IPO on March 13, and planned to sell 2.5 million shares for between $16 and $19. This prompted investor interest in the already-listed Apple.
Jan 161986

Apple upgrades

Apple releases the Mac Plus, its second upgrade on the Macintosh launched two years earlier. It would release periodic updates on this model for more than the next 10 years, a strategy the company tended to follow for most of its best-selling products. The share price slipped 2% to $24.00 the following day.
Dec 311985

Jobs sells out

Steve Jobs sells one million Apple shares as he backs new computer software venture NeXT. Shares fall 1.1% to $22.00. Jobs cut his Apple stake from 7.2% to 5.6%, SEC filings showed, as he gathered funds for the new computer firm he founded in September 1985. When he left Apple in September Jobs owned about 11% of the business, but over the next few months he sold it all, keeping just one share to allow him to attend shareholder meetings. Over this period, he sold stock worth around $77 million. In 2020, that would be worth about $66 billion.
Dec 021985

Record results

Apple's annual report is released this month and full-year net income falls 4.5% tot $61.2 million, although sales lift 26% to $1.9 billion. Stocks lifted 9.3% over the month to $22.00.
Sep 161985

Jobs leaves Apple

Jobs resigns as Chairman of Apple, sending shares down 3.2% to $15.25 on the day. Jobs said:
I feel like somebody just punched me in the stomach and knocked all my wind out. I’m only 30 years old and I want to have a chance to continue creating things. I know I’ve got at least one more great computer in me.
On the same day, Jobs submitted incorporation papers in California to form a new computer company, NeXT, to make advanced workstations aimed at educational markets. He took around six key Apple staff with him. He funded NeXT by selling almost all of his remaining 11% Apple stake in tranches over the next several months, keeping just one share, which allowed him to attend the firm’s shareholder meetings. But, as we all know, this was not the end of his journey with Apple...
May 311985

Jobs outmaneuvered

The battle is over and Jobs has lost. The Apple board side with John Sculley over the running of the firm, and Jobs is stripped of his divisional and operational responsibilities. He was given the figurehead title of Chairman and 'global thinker', and his remote office was dubbed 'Siberia' by staff. From the start of May shares plunged 30% to $14.87 on 17 June as news breaks over the fallout at the top of the business.
May 241985

Sculley versus Jobs

Tensions grow between John Sculley and Jobs over the failure of Lisa and the direction of the Macintosh. Sculley wants greater oversight, but Jobs insists on absolute control over product development. Things came to a head when Jobs tried to force Sculley out of Apple by organizing a boardroom coup against him. The stock plunged 14.5% to $16.88 over the next two days. Markets do not like disruption.
Apr 291985

Apple dumps Lisa

Apple discontinues Lisa (by then renamed Macintosh XL), after selling only about 100,000 units since launch two years ago. The machine was eclipsed by the Macintosh, launched a year earlier. The stock dropped 5.3% to $20.00 over the next four days to May 3, as investors showed concern that Lisa lasted such a short time before being pulled.
GeWalt / Wikipedia
Feb 061985

The end of Wozniak

Co-founder Steve Wozniak leaves Apple, saying the business had
been going in the wrong direction for the last five years.
He retains shares in the firm. After a slight lift shares drifted down 15.6% over the next three weeks to $24.87 on March 1.
Jan 201985

Lightning doesn't strike twice

Following the previous year’s Super Bowl success, Apple-embossed seat cushions cover Stanford Stadium, the site of Super Bowl XIX. The game featured a commercial titled “Lemmings” — which failed to have the critical impact of 1984’s iconic ad. However, investors are cheered by what they see, lifting the stock 2.2% the following day to $29.25.
Dec 011984

First quarterly loss ever

Festive sales are unexpectedly poor with Macs piling up in storage. Apple publishes its first quarterly loss in history, and around 20% of its staff is let go. Annual net income fell 16% to $64.1 million, while sales lifted 54%, to $1.52 billion. Stories also leaked out about a power struggle between Jobs and Sculley. However, investors took the view that next year might be better, lifting shares 17.7% to $29.12 by the end of the month.
Jun 011984

Mac sales

More than 100,000 Macs are sold in the first six months since launch. The Mac’s system of on-screen icons responsive to a hand-guided “mouse” make it a breakthrough in personal computing, especially for non-techies, selling for $2,495. For many users, the Mac would make computing truly personal, and for some, it would become the object of a near cult following. But shares drifted down 9.8% to $26.50 by the end of the month, with some investors hoping for a bigger boost to Mac sales.
Jan 221984

Iconic Mac launch

Apple launches its Macintosh computer in a TV ad aired on Sunday January 22, during the third quarter of the 1984 Super Bowl XVIII. The iconic, enduring, 60-second masterpiece costs $1.5 million and is made by British film director Ridley Scott (yep, the one who did Alien, Blade Runner, Gladiator, Black Hawk Down… we could go on…) It featured a female athlete carrying a sledgehammer, running into a room filled with an army of seated drone-like workers watching a huge television screen. She smashes the screen, which shows a “Big Brother” figure spouting propaganda to the workers, a thinly veiled dig at IBM's, Big Blue machines. The ad was a massive success, and remains a talking point and a cultural touchpoint for the tech era. However, shares still drifted 17.4% down over the next three weeks to $23.63 on 9 February as investors pondered whether the Mac would fare better than Apple's last new machine, Lisa.
Museums Victoria / Unsplash
Dec 011983

Apple versus IBM

Apple and IBM emerge as the personal computing industry’s strongest competitors, each selling approximately $1 billion-worth of computers in 1983, lifting Apple shares 20% to $24.38 over the month. Apple's annual report showed the firm’s annual sales actually rose 69% to $983 million, and its net income was $77 million, up 25% on the year before.
Jun 011983

Wozniak is back

Steve Wozniak returns to Apple, but resumes work in a lower profile. Shares slip 15.3% to $48.88 over the month.
May 011983

Apple breaks into the big league

Apple joins the Fortune 500 list of America's largest firms at number 411 after only seven years since it was founded. By comparison, its rival Microsoft would not break into the Fortune 500 until 1995, 20 years after it was founded in 1975. Apple stock lifted 14.4% over the month to $57.75 as institutional funds poured in.
Apr 081983

New CEO Sculley

Jobs convinces John Sculley, then President of PepsiCo, to become President and CEO of Apple, with the stock lifting 5.7% to $41.63 on the first trading day after the announcement. The tech firm had been pursuing Sculley since December 1982. Jobs at one point asked him:
Do you want to sell sugar water for the rest of your life, or do you want to come with me and change the world?
Good line. Shame it ended the way it did (with Sculley taking over, and Jobs being forced out. But that’s a story for another time… )
Jan 191983

Lisa launched

Apple introduces the landmark Lisa computer, priced at $9,995, with shipments scheduled for the spring. Lisa was the first commercial computer ever to use the groundbreaking new Graphical User Interface (GUI), the step that would revolutionize the way we use computers and, in the end, change the world. Jobs had pushed for the inclusion of the GUI after seeing the new technology in action at the Xerox research lab in Silicon Valley – an advance preview he allegedly wangled in return for allowing Xerox to invest $1 million in Apple prior to its IPO. It was a bold move, and a brave step forward – one that would ultimately, and eventually, change the face of computing forever. But not today, and not this time. Lisa’s steep price - more than twice that of a standard IBM PC and far higher than the $2,000 price tag originally anticipated - and limited number of software titles would contribute to mediocre sales, making the high-profile launch a high-profile flop. Not even a young Kevin Costner could save her. Famously, Lisa was also the name of Jobs’ daughter, although it took him a while to admit his paternity, claiming for a long while that the name was just an acronym for ‘Local Integrated Systems Architecture.’ However, news of another cutting-edge machine from the firm saw Apple stock jump 44.2% over the next five weeks to $48.13 on 24 February. The Macintosh would be the precursor to the firm’s eventual, stratospheric success – perhaps not unconnected with the fact that Jobs had actually been forced out of the Lisa project back in 1980, moving over to work on Macintosh instead.
Dec 011982

Sales jump

Apple's annual report is released this month and reiterates the firm’s full-year sales jump to 74% to $583 million, while earnings lift 55% to $61.3 million. The stock drifted down 6.3% to $29.87 over the month, as investors nervously eyed the upcoming (and long-delayed) Lisa launch.
Sep 031982

Funky Apple

Steve Wozniak sponsors the Labor Day long-weekend outdoor rock concert—the US Festival—near San Bernardino, California, which attracts 100,000 fans. It was the start of a long association the firm would have with the music industry – and we all know how that one went. Stock drifted up 1.4% over the month to $18.25.
Neal Preston
Sep 011982

Lisa set to break ground

The development of the next-generation Lisa computer is officially completed, and a launch date is set for January 1983. Jobs had been working on the Lisa project since the late 1970s, but earlier in the year he was pushed off the project due to boardroom infighting. Lisa would be the first computer to use the graphical user interface “point-and-click” system, with mouse and on-screen icons — a major stride in simplifying computers for everyday users. It used icons for items such as ‘trash,’ ‘folders’ and other functions, that are today taken for granted. Stock drifted up 0.7% over the next five trading days to $17.62.
Feb 151982

Jobs in Time

Steve Jobs appears for the first time on the cover of Time magazine in a story called, Striking It Rich: America’s Risk Takers, putting him among the heart of the country's rising business stars. Apple III computers along with a less expensive Apple II-Plus are selling at a rate of about 15,000 a month. But Apple stock slides 40.1% from publication date over the next few months to $11.00 on July 8, below its IPO price under competition from IBM and other players as it battles for market share.
Dec 011981

IBM outsells Apple

Apple’s annual report is released this month and reiterates the firm’s net sales, which have jumped 185% to $334 million as profits rocket almost seven times to $39.4 million. Apple was catching up with Big Blue, selling 150,000 machines compared to IBM’s 200,000. The share price lifted 18.8% over the month to end the year at $22.12.
Aug 121981

Enter Big Blue

The mighty IBM introduces its first personal computer to the marketplace, priced at $1,565, and supported by nationwide marketing and wall-to-wall TV advertising. It was important to the industry that Big Blue entered this part of the market to convey legitimacy. Apple ran a full-page ad in the Wall Street Journal following Big Blue’s launch, reading: “Welcome IBM. Seriously.” It was Jobs’ idea, and a genius move, positioning Apple as the revolutionary rebel that was upsetting the (proverbial) apple cart. It was a theme the firm would return to again and again in its marketing strategy over the coming years. Despite Apple’s cockiness, the problem was that although IBM's machine was slower than the Apple II, its name recognition and cheap price point meant that it rapidly outsold the younger firm. Apple stock plummeted 36% from an August 5 high to $16.50 by September 23, as IBM fired up the consumer market.
Bundesarchiv / Wikipedia
Jul 011981

Apple on TV

Apple launches its first TV ad campaign with hip talk-show host Dick Cavett, hired as its spokesman on a three-year contract. The aim of using Cavett was to reassure viewers that computers were not an outlandish extravagance, as tech firms continued to shift from targeting hobbyists to business people and consumers. The same pitches were happening across the industry: Bill Cosby worked for Texas Instruments, Alan Alda for Atari and William Shatner represented Commodore. Despite the well-received ad, shares drifted down 3.8% to $25.00 over the month as investors awaited the expected launch of IBM in the personal computer market.
Mar 021981


Mike Markkula replaces Apple's first President Mike Scott. Jobs succeeds Markkula as Chairman. Scott becomes Vice Chairman, and 40 staff are let go in cost-cutting as the Apple III sells less well than the Apple II. Stocks took a rollercoaster ride after the management shake-up, falling 18.8% from March 2 to $21.59 on March 13 before making up the loss to hit $26.75 by March 23.
Feb 071981

Crash landing

Apple stock falls after Steve Wozniak crashes his small plane, carrying his fiancee and two others, shortly after taking off in Santa Cruz, California. No one is fatally hurt, but Wozniak suffers amnesia and does not return to Apple for almost 18 months as he recovers. Shares fell 3.5% on Monday morning to $27.75 after the Saturday accident from their close on the Friday before the weekend, eventually dropping 17.4% to $23.74 on February 24 as news of his extended layoff reached the markets. During his time off work, Wozniak married and completed the degree program he had earlier broken off at the University of Colorado (where he was previously expelled for hacking into the school's network) at the University of California, Berkeley.
Dec 121980

New kid on the block

A month after Ronald Reagan is elected US President, Apple goes public – and it’s a very big deal. Apple stock soars by 32% on its first day of trading: making 300 people, including 40 employees, instant millionaires as the stock sells out in minutes. Jobs who at 25 was the largest shareholder, made $217 million alone. Mike Markkula, the firm's first outside investor, who handed the company a $250,000 check in 1977, made $203 million. The stake of 30-year-old Wozniak was worth about $116 million. The IPO generated more capital than any public offering since Ford Motor Company in 1956. Morgan Stanley and Hambrecht & Quist underwrote an IPO of 4.6 million shares of common stock priced at $22 per share, and closing at $29, giving the firm a market cap of $1.8 billion by the end of its first day of trading. In its IPO prospectus, Apple said full-year sales to September 26, 1980 had rocketed by 145% to $118 million, while net income jumped 130% to $5.1 million, reflecting
the expansion of the company's market to include use of Apple computers by persons without prior computer experience.
The stock continued to rise for the remaining few weeks of the year, closing on New Year's Eve at $35.85, 63% higher than its launch price. Not a bad start to what was to be an epic journey, influencing the world of technology from the outside in and the inside out, and eventually changing not only the way we use technology, but the very way we think, listen, and communicate. Apple would turn geeky technology devices into design icons that could hold their own with a Chanel No 5 bottle or a Zippo lighter. Great companies have an instinctive feel for what customers want. But the products of exceptional companies become ubiquitous, making it hard to imagine what life was like without them. The tech giant's would help make advanced technology part of everyday life, ushering in the Information Age and altering our lives forever. And it all started here.
Tom Munnecke / Getty
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