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Tag: Tim Cook

  • Apple Earnings Released, Revenue $37.4 Billion

    Apple Earnings Released, Revenue $37.4 Billion

    Apple announced its earnings for its fiscal 2014 Q3 (ended June 28). This includes revenue of $37.4 billion, and net profit of $7.7 billion, or $1.28 per diluted share. These are up from $35.3 billion revenue, net profit of $6.9 billion, and $1.07 per diluted share last year.

    Gross margin was up year-over-year at 39.4 % from 36.9%. International sales, the company said, accounted for 59% of the quarter’s revenue.

    CEO Tim Cook said, “Our record June quarter revenue was fueled by strong sales of iPhone and Mac and the continued growth of revenue from the Apple ecosystem, driving our highest EPS growth rate in seven quarters. We are incredibly excited about the upcoming releases of iOS 8 and OS X Yosemite, as well as other new products and services that we can’t wait to introduce.”

    The company also declared a cash dividend of $.47 per share of common stock, payable on August 14 to shareholders as of closing on August 11.

    CFO Luca Maestri added, “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.”

    Apple expects between $37 billion and $40 billion for its fiscal 2014 Q4.

    Image via Apple

  • Apple Adds Sue Wagner To Board Of Directors As Bill Campbell Retires

    Apple Adds Sue Wagner To Board Of Directors As Bill Campbell Retires

    Apple announced on Thursday that Sue Wagner, founding partner and director of BlackRock (not to be confused with politician Sue Ellen Wagner), has been elected to its board of directors as Bill Campbell retires.

    Campbell is the board’s longest-serving member, and has been a part of it for seventeen years.

    Apple CEO Tim Cook said, “Sue is a pioneer in the financial industry and we are excited to welcome her to Apple’s board of directors. We believe her strong experience, especially in M&A and building a global business across both developed and emerging markets, will be extremely valuable as Apple continues to grow around the world.”

    Chairman Art Levinson added, “We conducted an exhaustive search for someone who would further strengthen our board’s breadth of talent and background, and we are delighted to have identified such an outstanding individual. I’m confident that Sue is going to make an important and positive impact on our company.”

    Wagner co-founded BlackRock in ’88, and held various leadership positions at the company through 2012. She is still on the BlackRock board as well and that of DSP BlackRock in India. She’s also a board member for Swiss Re, Wellesley College and Hackley School.

    “I have always admired Apple for its innovative products and dynamic leadership team, and I’m honored to be joining their board,” she said. “I have tremendous respect for Tim, Art and the other board members, and I look forward to working with them.”

    Campbell joined Apple in 1983 as its VP of Marketing, he’s actually the longest-serving board member in Apple’s history after Steve Jobs and Mike Markkula.

    “Over the past 17 years, it’s been exciting to watch history unfold as Apple emerged as the premier technology company in the world. Working with Steve and Tim has been a joy,” he said. “The company today is in the best shape that I have seen it, and Tim’s leadership of his strong team will allow Apple to continue to be great going forward.”

    Cook had this to say about Campbell: “Bill’s contributions to Apple are immeasurable and we owe him a huge debt of gratitude. On behalf of the board and the entire company, I want to thank him for being a leader, a mentor and a friend. When Bill joined Apple’s board, the company was on the brink of collapse. He not only helped Apple survive, but he’s led us to a level of success that was simply unimaginable back in 1997.”

    Apple’s chief rival also added a board member this week. Google announced on Tuesday that it has added former Ford Motor Company President and CEO Alan Mulally to its board. The company also announced on Thursday that its Chief Business Officer, Nikesh Arora, is leaving.

    Image via Wellesley College

  • Apple Is Buying Beats Because It Has an Assload of Money (Says Funny or Die)

    Apple Is Buying Beats Because It Has an Assload of Money (Says Funny or Die)

    The big rumor in the tech world this week is that Apple is in talks to acquire Beats Electronics, makers of the Beats by Dre headphones and recent launcher of a streaming music service. The news came out of left field, and left many analysts scrambling to figure out just what the hell was going on.

    Beats is a very well-known brand with considerable marketing talent, and Apple is severely lacking when it comes to having anything resembling a streaming music competitor–but most people are a bit perplexed about this one.

    So, why would Apple want to buy Beats?

    Because they have a shit-ton of money, of course.

    Yeah–billions and billions of dollars…so why not, right? And why stop there? Why not expand and just acquire everything? That’s what Funny or Die says. Why not bring Totinos pizza rolls into the Apple family? After a handful of acquisitions, Apple would still have 145.7 gajillion dollars to throw around.

    I say go for it. Any headphone would be better than Apple’s earbuds, and that includes a tin can on a string–which I think Beats can top.

    Image via Funny or Die

  • Apple Earnings Released: Revenue $45.6 Billion, Net Profit $10.2 Billion

    Apple Earnings Released: Revenue $45.6 Billion, Net Profit $10.2 Billion

    Apple just released its earnings report for its fiscal 2014 second quarter, ended March 29th with revenue of $45.6 billion and quarterly net profit of $10.2 billion. That’s compared to $43.6 billion and net profit of $9.5 billion, respectively for the same period last year.

    CEO Tim Cook said, “We’re very proud of our quarterly results, especially our strong iPhone sales and record revenue from services. We’re eagerly looking forward to introducing more new products and services that only Apple could bring to market.”

    The company beat analysts’ expectations.

    It expects revenue for its third quarter to be between $36 billion and $38 billion.

    Apple also announced that its board of directors has authorized another “significant increase” to Apple’s program to return capital to shareholders, utilizing a total of over $130 billion of cash by the end of next year.

    “We’re confident in Apple’s future and see tremendous value in Apple’s stock, so we’re continuing to allocate the majority of our program to share repurchases,” Cook said. “We’re also happy to be increasing our dividend for the second time in less than two years.”

    Here’s the earnings release in its entirety:

    Apple® today announced financial results for its fiscal 2014 second quarter ended March 29, 2014. The Company posted quarterly revenue of $45.6 billion and quarterly net profit of $10.2 billion, or $11.62 per diluted share. These results compare to revenue of $43.6 billion and net profit of $9.5 billion, or $10.09 per diluted share, in the year-ago quarter. Gross margin was 39.3 percent compared to 37.5 percent in the year-ago quarter. International sales accounted for 66 percent of the quarter’s revenue.

    “We’re very proud of our quarterly results, especially our strong iPhone sales and record revenue from services”

    “We’re very proud of our quarterly results, especially our strong iPhone sales and record revenue from services,” said Tim Cook, Apple’s CEO. “We’re eagerly looking forward to introducing more new products and services that only Apple could bring to market.”

    “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,” said Peter Oppenheimer, Apple’s CFO. “That brings cumulative payments under our capital return program to $66 billion.”

    Apple is providing the following guidance for its fiscal 2014 third quarter:

    • revenue between $36 billion and $38 billion

    • gross margin between 37 percent and 38 percent

    • operating expenses between $4.4 billion and $4.5 billion

    • other income/(expense) of $200 million

    • tax rate of 26.1 percent

    Apple will provide live streaming of its Q2 2014 financial results conference call beginning at 2:00 p.m. PDT on April 23, 2014 atwww.apple.com/quicktime/qtv/earningsq214. This webcast will also be available for replay for approximately two weeks thereafter.

    This press release contains forward-looking statements including without limitation those about the Company’s estimated revenue, gross margin, operating expenses, other income/(expense), and tax rate. These statements involve risks and uncertainties, and actual results may differ. Risks and uncertainties include without limitation the effect of competitive and economic factors, and the Company’s reaction to those factors, on consumer and business buying decisions with respect to the Company’s products; continued competitive pressures in the marketplace; the ability of the Company to deliver to the marketplace and stimulate customer demand for new programs, products, and technological innovations on a timely basis; the effect that product introductions and transitions, changes in product pricing or mix, and/or increases in component costs could have on the Company’s gross margin; the inventory risk associated with the Company’s need to order or commit to order product components in advance of customer orders; the continued availability on acceptable terms, or at all, of certain components and services essential to the Company’s business currently obtained by the Company from sole or limited sources; the effect that the Company’s dependency on manufacturing and logistics services provided by third parties may have on the quality, quantity or cost of products manufactured or services rendered; risks associated with the Company’s international operations; the Company’s reliance on third-party intellectual property and digital content; the potential impact of a finding that the Company has infringed on the intellectual property rights of others; the Company’s dependency on the performance of distributors, carriers and other resellers of the Company’s products; the effect that product and service quality problems could have on the Company’s sales and operating profits; the continued service and availability of key executives and employees; war, terrorism, public health issues, natural disasters, and other circumstances that could disrupt supply, delivery, or demand of products; and unfavorable results of other legal proceedings. More information on potential factors that could affect the Company’s financial results is included from time to time in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s public reports filed with the SEC, including the Company’s Form 10-K for the fiscal year ended September 28, 2013, its Form 10-Q for the quarter ended December 28, 2013, and its Form 10-Q for the quarter ended March 29, 2014 to be filed with the SEC. The Company assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates.

    Apple designs Macs, the best personal computers in the world, along with OS X, iLife, iWork and professional software. Apple leads the digital music revolution with its iPods and iTunes online store. Apple has reinvented the mobile phone with its revolutionary iPhone and App Store, and is defining the future of mobile media and computing devices with iPad.

    NOTE TO EDITORS: For additional information visit Apple’s PR website (www.apple.com/pr), or call Apple’s Media Helpline at (408) 974-2042.

    © 2014 Apple Inc. All rights reserved. Apple, the Apple logo, Mac, Mac OS and Macintosh are trademarks of Apple. Other company and product names may be trademarks of their respective owners.

    Apple Inc.

    UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

    (In millions, except number of shares which are reflected in thousands and per share amounts)
    Three Months Ended Six Months Ended
    March 29,
    2014    		 March 30,
    2013    		 March 29,
    2014    		 March 30,
    2013
    Net sales $ 45,646 $ 43,603 $ 103,240 $ 98,115
    Cost of sales (1) 27,699 27,254 63,447 60,706
    Gross margin 17,947 16,349 39,793 37,409
    Operating expenses:
    Research and development (1) 1,422 1,119 2,752 2,129
    Selling, general and administrative (1) 2,932 2,672 5,985 5,512
    Total operating expenses 4,354 3,791 8,737 7,641
    Operating income 13,593 12,558 31,056 29,768
    Other income/(expense), net 225 347 471 809
    Income before provision for income taxes 13,818 12,905 31,527 30,577
    Provision for income taxes 3,595 3,358 8,232 7,952
    Net income $ 10,223 $ 9,547 $ 23,295 $ 22,625
    Earnings per share:
    Basic $ 11.69 $ 10.16 $ 26.31 $ 24.09
    Diluted $ 11.62 $ 10.09 $ 26.16 $ 23.90
    Shares used in computing earnings per share:
    Basic 874,757 939,629 885,415 939,273
    Diluted 879,528 946,035 890,490 946,626
    Cash dividends declared per common share $ 3.05 $ 2.65 $ 6.10 $ 5.30
    (1) Includes share-based compensation expense as follows:
    Cost of sales $ 110 $ 87 $ 219 $ 172
    Research and development $ 300 $ 239 $ 589 $ 463
    Selling, general and administrative $ 286 $ 249 $ 569 $ 485
    Apple Inc.

    UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

    (In millions, except number of shares which are reflected in thousands)
    March 29,
    2014    		 September 28,
    2013
    ASSETS:
    Current assets:
    Cash and cash equivalents $ 18,949 $ 14,259
    Short-term marketable securities 22,401 26,287
    Accounts receivable, less allowances of $88 and $99, respectively 9,700 13,102
    Inventories 1,829 1,764
    Deferred tax assets 4,014 3,453
    Vendor non-trade receivables 6,120 7,539
    Other current assets 7,528 6,882
    Total current assets 70,541 73,286
    Long-term marketable securities 109,239 106,215
    Property, plant and equipment, net 15,120 16,597
    Goodwill 2,055 1,577
    Acquired intangible assets, net 3,928 4,179
    Other assets 5,106 5,146
    Total assets $ 205,989 $ 207,000
    LIABILITIES AND SHAREHOLDERS’ EQUITY:
    Current liabilities:
    Accounts payable $ 18,914 $ 22,367
    Accrued expenses 15,984 13,856
    Deferred revenue 8,310 7,435
    Total current liabilities 43,208 43,658
    Deferred revenue – non-current 3,164 2,625
    Long-term debt 16,962 16,960
    Other non-current liabilities 22,476 20,208
    Total liabilities 85,810 83,451
    Commitments and contingencies
    Shareholders’ equity:
    Common stock and additional paid-in capital, $0.00001 par value: 1,800,000 shares authorized; 861,745 and 899,213 shares issued and outstanding, respectively 21,496 19,764
    Retained earnings 98,934 104,256
    Accumulated other comprehensive income/(loss) (251) (471)
    Total shareholders’ equity 120,179 123,549
    Total liabilities and shareholders’ equity $ 205,989 $ 207,000
    Apple Inc.

    UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

    (In millions)
    Six Months Ended
    March 29, 2014 March 30, 2013
    Cash and cash equivalents, beginning of the period $ 14,259 $ 10,746
    Operating activities:
    Net income 23,295 22,625
    Adjustments to reconcile net income to cash generated by operating activities:
    Depreciation and amortization 4,031 3,280
    Share-based compensation expense 1,377 1,120
    Deferred income tax expense 2,059 1,957
    Changes in operating assets and liabilities:
    Accounts receivable, net 3,401 3,846
    Inventories (65) (454)
    Vendor non-trade receivables 1,419 1,510
    Other current and non-current assets 14 1,269
    Accounts payable (2,375) (4,422)
    Deferred revenue 1,414 1,541
    Other current and non-current liabilities 1,638 3,658
    Cash generated by operating activities 36,208 35,930
    Investing activities:
    Purchases of marketable securities (90,360) (81,163)
    Proceeds from maturities of marketable securities 10,869 9,243
    Proceeds from sales of marketable securities 80,241 49,188
    Payments made in connection with business acquisitions, net (559) (299)
    Payments for acquisition of property, plant and equipment (3,367) (4,325)
    Payments for acquisition of intangible assets (163) (429)
    Other (23) (93)
    Cash used in investing activities (3,362) (27,878)
    Financing activities:
    Proceeds from issuance of common stock 341 275
    Excess tax benefits from equity awards 363 502
    Taxes paid related to net share settlement of equity awards (430) (588)
    Dividends and dividend equivalents paid (5,430) (4,984)
    Repurchase of common stock (23,000) (1,950)
    Cash used in financing activities (28,156) (6,745)
    Increase in cash and cash equivalents 4,690 1,307
    Cash and cash equivalents, end of the period $ 18,949 $ 12,053
    Supplemental cash flow disclosure:
    Cash paid for income taxes, net $ 5,369 $ 4,258
    Cash paid for interest $ 161 $ 0
    Apple Inc.
    Q2 2014 Unaudited Summary Data
    (Units in thousands, Revenue in millions)
    Q2’14 Q1’14 Q2’13 Sequential Change Year/Year Change
    Operating Segments Revenue Revenue Revenue Revenue Revenue
    Americas $14,310 $20,098 $14,052 – 29% 2%
    Europe 10,230 13,073 9,800 – 22% 4%
    Greater China (a) 9,289 8,844 8,213 5% 13%
    Japan 3,963 4,948 3,135 – 20% 26%
    Rest of Asia Pacific 2,627 3,633 3,162 – 28% – 17%
    Retail 5,227 6,998 5,241 – 25% 0%
    Total Apple $45,646 $57,594 $43,603 – 21% 5%
    Q2’14 Q1’14 Q2’13 Sequential Change Year/Year Change
    Product Summary Units Revenue Units Revenue Units Revenue Units Revenue Units Revenue
    iPhone (b) 43,719 $26,064 51,025 $32,498 37,430 $22,955 – 14% – 20% 17% 14%
    iPad (b) 16,350 7,610 26,035 11,468 19,477 8,746 – 37% – 34% – 16% – 13%
    Mac (b) 4,136 5,519 4,837 6,395 3,952 5,447 – 14% – 14% 5% 1%
    iPod (b) 2,761 461 6,049 973 5,633 962 – 54% – 53% – 51% – 52%
    iTunes/Software/Services (c) 4,573 4,397 4,114 4% 11%
    Accessories (d) 1,419 1,863 1,379 – 24% 3%
    Total Apple $45,646 $57,594 $43,603 – 21% 5%
    (a) Greater China includes China, Hong Kong and Taiwan.
    (b) Includes deferrals and amortization of related non-software services and software upgrade rights.
    (c) Includes revenue from sales on the iTunes Store, the App Store, the Mac App Store, and the iBooks Store, and revenue from sales of AppleCare, licensing and other services.
    (d) Includes sales of hardware peripherals and Apple-branded and third-party accessories for iPhone, iPad, Mac and iPod.


    Image via Apple

  • Tesla and Apple Rumors Continue to Swirl

    Tesla and Apple Rumors Continue to Swirl

    On Sunday, the San Francisco Chronicle released an article which has shaken the core of the internet and tech world. According to an anonymous source, Adrian Perica, Apple’s merger and acquisitions chief, and Elon Musk, CEO of Tesla, held a secret meeting in Cupertino, CA last spring. Unfortunately, both Apple and Tesla have declined to comment on such a meeting. Thus, let the internet come ablaze with wild rumors and speculations.

    While the meeting has not been corroborated by either company, there are many good reasons to believe that such a meeting would have been held. The supposed meeting between technological giants came after much pressure from business analysts for the two companies to join forces. Berenberg analyst Adnaan Ahmad even went as far as writing an open letter to Apple CEO Tim Cook explaining why Apple’s acquisition of Tesla would be the best step for Apple to take for its future stating:

    “The auto industry is going through a technological discontinuity in its shift to hybrid and electric vehicles. This is still in its very early innings. Apple needs know-how (technology, platform strategy and dealer network) in this space and hence I propose that you should buy Tesla. I know this is radical and potentially “transformative” but this would radically alter Apple’s growth profile… From a US national policy perspective, Apple could re-ignite the US auto industry and give it a competitive edge versus the current Asian and European leaders, similar to what you have done in the smartphone and wireless space where the US is now at the forefront of technological leadership after having been a laggard for over two decades. And finally, in Elon Musk, you could strike up a partnership and obtain a new iconic partner to lead Apple’s innovation drive.”

    Despite all of the sense derived from this letter and other facts (such as the fact that Steve Jobs expressed his wishes to build a car before his death), Apple completely acquiring Tesla is most likely not going to happen. Apple is struggling enough to keep its own products at the top of the market, and Elon Musk has publicly voiced his intent to keep Tesla in his possession forever:

    What is more likely, however, is that the closed-door meeting was held to discuss Tesla’s progress on its proposed “Gigafactory” – a battery factory which would double global gigawatt battery output. Coincidentally, the company would produce the same exact batteries that Apple currently uses in its devices.

    So, while a Tesla-Apple merger sounds tempting, the US is not likely to see an iTesla anytime soon. Instead, one is more likely to express much frustration at trying to charge one’s Tesla Model S with a lightning cable.

    Image via YouTube

  • Kanye Talks ‘His Boy and Sh*t’ Eric Schmidt, ‘Rich As F*ck’ Tim Cook at Concert

    Kanye Talks ‘His Boy and Sh*t’ Eric Schmidt, ‘Rich As F*ck’ Tim Cook at Concert

    If you’re unfamiliar with Kanye West’s Yeezus tour–here’s a quick rundown.

    It’s an incredible spectacle–really. If I hadn’t seen it with my own eyes, the various reports about it being an incredible spectacle wouldn’t have held water for me. But I did, so they do. Kayne plays for nearly three hours–nearly 30 songs in most cases. There’s a giant mountain, a giant raised stage in the middle of the crowd, and a troupe of dancers, usually clothed in bodysuits. It’s something.

    You’ve probably heard that in the middle of said concerts, Kanye has been making a habit of launching into 20-30 minute long “rants.” I don’t know if I’d call them rants, but they are, more-or-less, speeches–part spoken and part spoken through an autotune. In my experience, Kayne decided to talk to the audience about being yourself, fashion, and his own genius–among other things.

    Well, earlier this week in New Jersey, Kanye decided to devote at least a portion of the speech to discussing Apple CEO Tim Cook and Google Chairman Eric Schmidt.

    Fair warning–it’s hard to take any part of one of these diatribes out of context. I mean, you can do it, but it probably takes away from whatever message he’s trying to send. Whatever–here’s what he actually said:

    “And you know, the reason why I speak directly to Tim Cook, directly to Eric Schmidt, directly to Mark Parker is because I got a microphone and I can.”

    Later, in the autotuned section of the mid-concert speech, Kanye had this to say about Apple’s Tim Cook:

    “Hey, Tim Cook, the Head of Apple, stop trying to get performers to play your festivals for free. You are rich as fuck. You are rich as fuck.”

    It’s hard to make out exactly what he says next. Some outlets think he tells Tim Cook to “quit trying to act like you’re so dumb.” Others feel like he suggests that Tim Cook stop acting like he’s “down” with the culture. I tend to agree with the latter.

    Anyway, he goes to on to clarify that Eric Schmidt is “his boy and shit.”

    “I don’t wanna mention him in the same breath,” said Kanye.

    Check it out below. The relevant tech figure talk comes in at around 13 minutes.

    Image via Wikimedia Commons

  • Tim Cook – Apple CEO Docks Himself

    Tim Cook – Apple CEO Docks Himself

    Imagine having the kind of money that would allow you to dock yourself $4 million dollars as a slap on the wrist.

    That is exactly what Tim Cook, CEO of Apple did when he learned about the company’s stock performance.

    Actually it was Apple’s compensation committee that decided this past year to align its CEO’s pay with the company’s performance. If stock performance is better than the other stocks in the S&P 500 index, then the CEO, or Cook would take home more – If Apple’s stock performs worse than the index, Cook takes home less. And – if Apple performs terribly – Cook would feel it in his pay.

    In a preliminary proxy statement filed on Sunday, Apple said its compensation committee didn’t want to place too heavy a burden on Cook. The committee only wanted less than half of Cook’s annual stock grants to be subject to the new performance-based metric.

    But Cook wanted his stock grants at risk – he urged the committee to put 50 percent of his stocks in the hat.

    Cook’s decision came from a “strong desire to set a leadership example in the area of CEO compensation and governance,” Apple said in its filing.

    And, subsequently Apple shares performed pretty badly last year and Cook lost the 50 percent of his stock grants that were at risk. Apple’s stock fell 26 percent in August 2012 and August 2013 – The time period when Cooks stocks vest annually. However, the S&P 500 rose to 18 percent during that time period.

    So – that 50 percent that Cook forfeited was worth nearly $4 million.

    Don’t feel bad for him yet – he still took home a bundle. He made $1.4 million just in salary, with a cool $2.8 million cash bonus – and a whopping $36.4 million in stock grants.

    The $4 million ended up being just 10 percent of his annual compensation. Not bad.

    Image via YouTube

  • iPhone 5s Available for Pre-Order in China

    iPhone 5s Available for Pre-Order in China

    On the heels of Apple announcing on Sunday a partnership with China Mobile to sell the iPhone in that country, pre-orders for the iPhone 5s and 5c were made available on Christmas day in the Middle Kingdom.

    China Mobile commenced accepting pre-registration via its website, and through a customer service hotline on December 25. The iPhone will be available in China to subscribers on January 17.

    Apple CEO Tim Cook commented on the partnership, “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.”

    Below is Apple’s 2013 Christmas ad:

    http://www.youtube.com/watch?v=ImlmVqH_5HM

    No price point has been established for the iPhones, and China Mobile currently comprises over 763 million customers, roughly two-thirds of the entire country. The iPhone isn’t new to China; millions of users have adopted jailbroken devices for some time now, though most operate on slower networks. The China Mobile deal will allow users to access the fastest cellular networks, and likewise upgrade their devices.

    Various Twitter intrigue regarding the partnership:

    In related China news, on Saturday the unmanned Chang’e-3 spacecraft successfully landed on the moon. Chang’e-3 delivered “Yutu”, a.k.a “Jade Rabbit,” a solar-powered, six-wheeled robotic rover, equipped with multiple cameras and a number of spectrometers for sampling and analyzing the lunar landscape.

    Below is a clip of Chang’e-3 making a landing on the moon:

    Image via YouTube.

  • Tim Cook Writes WSJ Piece In Favor Of ENDA

    Tim Cook Writes WSJ Piece In Favor Of ENDA

    The Wall Street Journal published an editorial written by Apple CEO Tim Cook on Sunday, titled, “Workplace Equality Is Good for Business.”

    Cook discusses why he thinks Congress should support the Employment Nondiscrimination Act. It’s not a long piece. He talks about how things are at Apple with its antidiscrimination policy before urging senators to support the piece of legislation and challenging the House to vote on it. Cook writes:

    Protections that promote equality and diversity should not be conditional on someone’s sexual orientation. For too long, too many people have had to hide that part of their identity in the workplace.

    Those who have suffered discrimination have paid the greatest price for this lack of legal protection. But ultimately we all pay a price. If our coworkers cannot be themselves in the workplace, they certainly cannot be their best selves. When that happens, we undermine people’s potential and deny ourselves and our society the full benefits of those individuals’ talents.

    So long as the law remains silent on the workplace rights of gay and lesbian Americans, we as a nation are effectively consenting to discrimination against them.

    Read the whole thing here.

    President Obama also wrote a piece appearing in the Huffington Post Gay Voices section, urging Congress to pass the act.

    Image: Apple

  • Tim Cook Says New Hire Angela Ahrendts Is ‘Wicked Smart’

    Tim Cook Says New Hire Angela Ahrendts Is ‘Wicked Smart’

    Apple announced on Monday evening that it has hired Burberry CEO Angela Ahrendts to take on a new position at the company: Senior Vice President of Retail and Online Stores.

    Ahrendts will report directly to CEO Tim Cook, and will oversee the strategic direction and operations of Apple’s retail business, both online and off. She’ll join the company in the spring.

    “I am thrilled that Angela will be joining our team,” said Cook. “She shares our values and our focus on innovation, and she places the same strong emphasis as we do on the customer experience. She has shown herself to be an extraordinary leader throughout her career and has a proven track record.”

    Cook sent an email to staff about the hire, which 9to5Mac obtained. In that, he said, “She will lead both our retail and online teams. I have wanted one person to lead both of these teams for some time because I believe it will better serve our customers, but I had never met anyone whom I felt confident could lead both until I met Angela. We met for the first time last January, and I knew in that meeting that I wanted her to join Apple. We’ve gotten to know each other over the past several months and I’ve left each conversation even more impressed.”

    “She shares our values and our focus on innovation,” he continued. “She places the same strong emphasis as we do on the customer experience. She cares deeply about people and embraces our view that our most important resource and our soul is our people. She believes in enriching the lives of others and she is wicked smart. Angela has shown herself to be an extraordinary leader throughout her career and has a proven track record. She led Burberry through a period of phenomenal growth with a focus on brand, culture, core values and the power of positive energy.”

    “I am profoundly honored to join Apple in this newly created position next year, and very much look forward to working with the global teams to further enrich the consumer experience on and offline,” said Ahrendts. “I have always admired the innovation and impact Apple products and services have on people’s lives and hope in some small way I can help contribute to the company’s continued success and leadership in changing the world.”

    Ahrendts will spend the time leading up to her Apple role transitioning leadership over at Burberry.

    Image: Angela Ahrendts (Twitter)

  • Talisman Energy Stocks Climb with Icahn Tweet

    Talisman Energy Stocks Climb with Icahn Tweet

    The Canadian global oil and gas production company, Talisman Energy, has seen its value slide over the past several years due to poor business planning. However, stocks of Talisman Energy grew over 10% Tuesday morning following this Tweet by Carl Icahn Monday afternoon:

    Carl Icahn Tweet

    Through his 61 million share purchase, Icahn now owns 5.97% stake in Talisman Energy.

    Icahn is the head of Icahn Enterprises, which is a diversified holding company. Icahn is known for his corporate raiding and for being an activist investor. In August, Icahn, who holds some stock in Apple, tweeted about his meeting with CEO of Apple Tim Cook. In the meeting, Icahn suggested that Cook should invest in a larger stock buy-back program. After his tweet, stocks of Apple rose more than 5%. Thus, it’s apparent that Icahn, who has over 300k Twitter followers, holds much sway with the stock market.

    Icahn is hoping to use this influence and his vast experience as a businessman and stockholder to capitalize on the current restructuring of Talisman Energy. Icahn stated, in a filing with the US Securities and Exchange Commission, that he bought the stock because he believed the company was undervalued, and that he may seek a seat on the board of directors.

    CEO of Talisman Energy, Hal Kvisle, has spent the past year attempting to restructure the global-sprawl of Talisman Energy and focus their efforts in more beneficial areas. Instead of allowing the company to spread too far out of his control and succumbing to the same fate as Alexander the Great, Kvisle has decided to concentrate the efforts of the company into its 2 most profitable areas – North America and Southeast Asia.

    Kvisle first decided to downsize the scope of the company and decrease its debts by selling its stakes in companies in Canada and the North Sea for a profit of $3 billion. The next executive decision of Icahn was to use this money to invest in short-term projects that would give the company immediate returns, instead of focusing on long-term projects which could return larger amounts, but held no guarantee.

    While Icahn may have found enough promise in these business moves to jump on-board, the more enticing aspect may have been Talisman’s latest purchase into an oil company in the Kurdish region of Iraq. Recently, the company discovered an oil reserve which could give Talisman Energy 200 million net barrels of oil.

    If the Middle Eastern investment pays off, Talisman Energy could see itself reach the $27.2 billion top-end value as estimated by Berstein Research oil analyst Bob Brackett. A $9 billion increase from its low-end current evaluation of $18 billion could leave Icahn with a $500 million profit on his investment.

    Hell, with Icahn’s sway and economic success, perhaps he should be the one assisting US Congressmen in their battle to end the government shutdown?

    Image via Twitter

  • Steve Jobs Died Two Years Ago Saturday, Here’s Tim Cook’s Letter to Employees

    Steve Jobs Died Two Years Ago Saturday, Here’s Tim Cook’s Letter to Employees

    Two years ago this Saturday, Apple co-founder Steve Jobs succumbed to pancreatic cancer. Less than two weeks before his death, Jobs resigned as CEO of Apple and the company named Tim Cook as the new CEO. It wasn’t really a surprise appointment, as Cook had been serving as active CEO since Jobs took a leave a absence in January of 2011.

    In his time as CEO, Tim Cook has led Apple through the launch of the new iPad, allegations of worker mistreatment at various overseas factories, and the debuts of the iPhone 5, iPad Mini, and iPhone 5C and 5S.

    And he thinks that Steve Jobs would be proud of his team.

    9to5Mac obtained a letter Cook sent out to Apple employees on the eve of the 2nd anniversary of Steve Jobs’ passing. Here’s what he had to say:

    Team-

    Tomorrow marks the second anniversary of Steve’s death. I hope everyone will reflect on what he meant to all of us and to the world. Steve was an amazing human being and left the world a better place.I think of him often and find enormous strength in memories of his friendship, vision and leadership. He left behind a company that only he could have built and his spirit will forever be the foundation of Apple. We will continue to honor his memory by dedicating ourselves to the work he loved so much. There is no higher tribute to his memory. I know that he would be proud of all of you.

    Best,
    Tim

    No word on what Apple will do to honor Jobs on Saturday. Here’s what they did last year:

    Image via YouTube

  • Tim Cook Is Now On Twitter, And Is Gaining Thousands Of Followers By The Minute

    Tim Cook Is Now On Twitter, And Is Gaining Thousands Of Followers By The Minute

    Apple CEO Tim Cook just joined Twitter, and has gained about six thousand followers over the past five minutes or so. He’s up to 23K as of the writing of this sentence. I would imagine that by the time I’m done with this article it will be something like 70K. Let’s see what happens.

    So far, he has only tweeted once:

    The customers certainly came out in droves all over the country today for the iPhone 5s and 5c release. Here’s a line in central Florida:

    Right now, Cook is only following eleven other Twitter accounts: The Auburn Plainsman, Duke Basketball, Laurene Jobs, Thomas L. Friedman, Kings of Leon (who link to iTunes in their bio), Anderson Cooper, Philip Schiller, Eddy Cue, Jimmy Fallon, Kerry Kennedy and RFK Center.

    Cook’s bio simply says: “CEO Apple, Fan of Auburn football and Duke basketball Cupertino.”

    He wasn’t verified when I started writing this. Phil Schiller retweeting him was the verification of authenticity (via MacRumors).

    Now, he just became verified. Wow, Twitter is pretty quick with that.

    Okay, so here we are at the end, and I really haven’t spent a lot of time here. He’s now up to 30K followers and climbing.

  • iPhone 5C: Welcome to the Apple Family

    iPhone 5C: Welcome to the Apple Family

    On September 10, Apple Inc. will introduce two new iPhone models. The iPhone 5S, the high end phone and the iPhone 5C, with plastic packaging, aka “The Budget iPhone.” The rumored release date is September 20. According to the Apple employee calendar, employees were unable to take time off between September 15 to September 28. T-Mobile also limited their employees vacation days between September 18 through September 22. Verizon did not comment when asked about blackout dates for employees. But, Apple and Verizon stores are preparing for a busy iPhone 5S release.

    The drive behind the iPhone 5C is to offer an iPhone to people who are currently Apple’s untouched markets, the lower income brackets, including China and India. Tim Cook, Apple CEO, has made visits to the largest telecommunications carrier in the world, China Mobile Ltd., with over 703 million subscribers. Coincidence? I think not. If Apple is able to create a cheaper iPhone, they can make a deal with China Mobile.

    Here’s some features to be unveiled on September 10:

    1. We finally have a choice of color! What?! It will likely be available in five “candy” colors: red, green, yellow, blue, and white. Basically pastels. The alleged photos show a black front face on all models, regardless of rear color, but it will likely be different for the white colored shell. Heck, sources are even predicting color front-face options when it is released.

    2. It will likely be that the iPhone 5C will have the same specs as the iPhone 5, with the 326 ppi Retina display, an A6 chip, a FaceTime HD camera and an 8-megapixel rear side camera. Rumors have predicted a faster processor and better Retina display. The 8-megapixel camera has already been rumored to have been on the leaked photos of the iPhone 5C. The aluminum shelled iPhone 5S will come with a dual-LED flash, which is meant to capture naturally looking pictures. A fingeprint sensor meant for user security is predicted be included on the device, after Apple purchased Authentec.

    3. The new iPhone 5C will come pre-loaded with iOS 7. This system will be released most likely on September 18, a few days before the new phone. Though the actual hardware typically gains more attention, the new iOS system is just as important. Apple has revamped the style, making changes to icons, textures, and features of the iOS system to bring a familiar, yet, new experience. This of course comes with a variety of new tools and features.
    The coolest features include :
    – the revamped Control Center that allows quick access to more important settings.
    – a way to Multitask apps.
    – the AirDrop feature for sharing pics and documents with other iPhones in your area.
    – the ability to shift the background image in response to one’s movements.

    Some surprise features were discovered in the very first iOS 7 beta release.

    4. Plastic – This is a major difference from previous iPhones. This is cheaper, but sturdier and more scratch proof than the iPhone 5 anodized aluminum body. Jeremy Horwitz, iLounge editor-in-chief spoke in January that the iPhone being a love child between the existing iPhone 5, the 5th Generation iPod Touch and the iPod classic. They’re going old school and I like it. The iPhone 5S features a 4-inch screen like the iPhone 5, with a tapered bottom like the 5th Generation iPod touch, and the rectangular shape inspired by the iPod classic. The iPhone 5C will be made mostly of plastic, but also manufactures with a hybrid plastic and metal chassis. The same locations of the camera, microphone of the iPhone 5, but the rear flash similar to the iPod touch.

    5. It will be cheap. (That’s what she said.) This selling point was the driving point behind the new exterior shell. On-contract: $99. Off-contract: between $450 and $500 (via MacRumors).

    The iPhone 4S from 2011 may sell for the same price of the plastic iPhone 5C at $0 on-contract. Apple may eliminate the iPhone 5 from the iPhone family altogether, or drop its price to $99. But perhaps it won’t be discontinued yet, due to having the same specs. The iPhone 4 after being on the market this long, may be endangered.

  • Carl Icahn Thinks Apple Is Undervalued, Meets With Tim Cook

    Carl Icahn Thinks Apple Is Undervalued, Meets With Tim Cook

    Billionaire Carl Icahn has taken a “large position in APPLE,” and has met with Tim Cook.

    Last night, he tweeted:

    All Things D managed to get a statement about the conversation from Apple:

    “We appreciate the interest and investment of all our shareholders. Tim had a very positive conversation with Mr. Icahn today.”

    Not much else is known about the conversation or just how “large” the aforementioned position is, but we’ll no doubt get a better idea in the future. Either way, the news has been good for Apple shares, which are currently at $499.55 (+9.98‎, 2.04%‎) as of the time of this writing.

    In other Apple news, the company has quietly acquired TV guide-like app Matcha, which was shut down a few months ago, signaling a potential component of its TV plans.

  • Tim Cook Pushes Selling More iPhones In Apple Stores

    Tim Cook Pushes Selling More iPhones In Apple Stores

    Apple CEO Tim Cook had a bone to pick with his retail store staff. While Apple is selling tons of iPhones, iPads, iMacs, etc., most of those products are not being sold in an Apple Retail Store. Why should Apple care where the products sell, as long as they sell? And what does Tim Cook plan to do to change the way those numbers are landing now?

    Reports show that Cook spoke at a secret meeting for Apple Retail Store leaders recently, where he outlined his reasons for wanting to see better sales within Apple’s own showroom locations. He noted a few figures that might surprise some.

    The first tidbit is that only 20% of iPhones are purchased at an Apple store. But iPhone is Apple’s “entry-level” product for most people. Consumers who do not own a Mac may easily purchase an iPhone. And once they have that, they may then be enticed to get an iPad, especially if they can get their hands on a friends iPad for a few minutes. And therein lies the aim for Cook.

    Apple products need to be seen, touched, played with. And the best place to do that is in the pristine surroundings of an Apple Retail Store. In the Store, a prospective buyer, someone who came in to only get an iPhone, gets to wait around, play with all of Apple’s shiny gadgets, all without pressure. They can hop on Wi-Fi. They can play with apps and games. They can touch.

    Likely, a customer will leave having only bought the iPhone he came in to get. But now he knows he can go play in the Apple Store anytime he is in the mall. He can walk in with his iPhone in hand, a member of a group now. And he is much more likely to eventually buy another item, saving for it, using his tax refund. When he hears about AppleCare and the different features of iCloud, he now has a sensory memory to put with those products. He’s in.

    So, how to get people to come buy an iPhone in an Apple Retail Store, rather than sending 80% of that business elsewhere? Cook plans some incentives for both buyers and stores. A back to school promotion offering $50 gift cards to students who purchase an iPhone is a first step. Another is being able to match pricing of places that sell iPhones cheaper than the Apple Retail Store does, such as Radio Shack.

    Cook’s vision on this is clear: Get the buyers to come in to the store. If they do, they’ll become converts, not just iPhone users.

  • Apple Unveils OS X Mavericks, The First Non-Cat In Over A Decade

    Apple Unveils OS X Mavericks, The First Non-Cat In Over A Decade

    Apple unveiled the next version of Mac OS X at its Worldwide Developers Conference today. For the first time in over a decade, they went with a name that doesn’t involve a cat.

    This is, as the company noted, because there’s simply a “dwindling supply of cats”. They’re running out of cat names. They unveiled the name as Mac OS X Sea Lion:

    OS X Sea Lion

    Then, they noted that this was a joke. The real name is OS X Mavericks. This is the first in the company’s new series of names, which will be based on California-related themes.

    The OS has over 200 new features. Three big features the company touted were: finder tabs, tagging and multiple displays, which were demoed.

    Finder tabs essentially give your Finder window more of a modern browser feel. You can add tabs by clicking the plus, and take the whole thing full screen, which will be more appealing with the inclusion of tabs.

    As far as tagging, you can now tag files on OS X based on details such as your location. This makes them better for search, and they will appear in the Finder sidebar.

    The crowd was really excited about the Multiple Displays feature, which lets users view menus across various screens, and view various apps in full screen on each screen. AirPlay-connected TVs will work as full displays.

    Apple also touted the battery life that accompanies the new OS thanks to compressed memory and other features.

    With this version, Apple has also added iBooks, Maps (which lets you send directions to your iPhone), an updated Calendar, and launched a new version of Safari. It also integrates iOS notifications.

    From the press release:

    Maps brings advanced mapping technologies from iOS to the Mac, including crisp vector graphics, stunning 3D view and interactive Flyover™. With Maps you can plan a trip from your Mac, then send it to your iPhone® for voice navigation on the road. Maps integration throughout Mavericks gives users helpful maps from within Mail, Contacts and Calendar, and developers can integrate the same powerful mapping features into their apps through the Map Kit API. With iBooks you have instant access to your existing iBooks library, as well as the more than 1.8 million titles in the iBooks Store, from textbooks and classics to the latest best sellers. iBooks also works seamlessly across your devices, so you can read a book on your Mac, make notes or highlights, and then pick up exactly where you left off on your iPad®.

    …

    New core technologies in OS X Mavericks improve the energy efficiency and responsiveness of your Mac. Timer Coalescing intelligently groups together low-level operations so that the CPU can spend more time in a low-power state, saving energy without affecting performance or responsiveness. App Nap reduces the power consumed by apps that you’re not using. Compressed Memory technology keeps your Mac fast and responsive. When your system’s memory begins to fill up, Compressed Memory automatically compresses inactive data. When these items are needed again, Mavericks instantly uncompresses them.

    The new version of Safari that accompanies the OS is energy and memory efficient, and has improved JavaScript performance.

    “Safari’s new process-per-tab architecture makes the browser more responsive, stable and secure,” the company says. “Safari also introduces innovations like Shared Links, which make it easy to discover, read and share interesting new content from Twitter and LinkedIn, all in one place.”

    Also included in OS X Mavericks is iCloud Keychain, a way to safely store site login info, credit card numbers, and WI-Fi passwords. It pushes them to all your devices so you don’t have to remember them.

    It has interactive notifications that let you reply to messages, respond to FaceTime calls or delete emails from the apps you’re using.

    There’s a developer preview of Mavericks available today. For everyone else, the final release will come this fall.

    The Mac install base is up to 72 million, CEO Tim Cook proudly proclaimed. The iMac and Macbook are the number on desktop and notebook in the US, respectively.

  • Apple Drops Some App Store Stats At WWDC

    Apple Drops Some App Store Stats At WWDC

    Apple’s Worldwide Developers Conference kicked off today, and as usual, the keynote began with a bunch of Apple stats.

    Before showing a video of the company’s latest retail store opening in Berlin, CEO Tim Cook revealed that a million people went to Apple’s retail stores per day last year. They now have 47 stores around the world in 14 countries. This particular store was opened in a hundred-year-old building.

    On the digital side of things, Cook announced that people have downloaded 50 billion apps from the App Store. There are currently 900,000 apps in the store, and 93% of them, he said, are downloaded every month.

    There are 375,000 apps specifically for the iPad, he noted.

    There are 575 million store accounts.

    Cook also announced that Apple has paid developers ten billion dollars, more than all of the other platforms combined, he said. The App Store, he said, “levels the playing field” between large and small developers.

    The App Store will celebrate its 5th birthday next month.

  • Facebook Not Acquiring Waze, Will Google?

    Facebook Not Acquiring Waze, Will Google?

    Rumors about Facebook trying to acquire Waze have been circulating for close to a year at this point. The rumors picked up steam earlier this month, followed by talks of a bidding war among Facebook, Google and other unspecified companies. Some have mentioned Apple as a suitor, as it has struggled with its own Maps offering.

    According to reports, it looks like Google’s competition has been reduced. AllThingsD’s Mike Isaac reports that Facebook is no longer in talks to acquire the company, indicating that talks fell apart in part due to “conflicts over whether or not the Waze team – which is predominantly based in Israel – would move over to the United States and fold itself into Facebook’s Menlo Park, Calif., headquarters, among other reasons.”

    Neither company has commented on the situation.

    Additionally, Apple CEO Tim Cook said at the D11 conference that the company did not make a bid for Waze. Technically, that doesn’t exactly mean Apple is out of the discussion, but it does clear some up some notions.

    Reports of Google’s interest in Waze haven’t exactly been confirmed, but Bloomberg reported last week that Google was in the mix. As previously mentioned, Google could be an attractive destination for a company in the mapping area, given the success of Google Maps, and the continued expansion of imagery and features. It could also prove to be a defensive move on Google’s part, keeping competitors from gaining ground against its popular Maps service.

    Google recently unveiled new Maps experiences for desktop, mobile and tablet devices.

  • Want A Peek Inside Tim Cook’s Mind? Watch This Video

    Want A Peek Inside Tim Cook’s Mind? Watch This Video

    Apple CEO Tim Cook made an appearance at the All Things Digital conference to talk about everything from wearable computers and Google Glass to taxes and Apple’s market share. It’s an incredibly fascinating look into the mind of one of the most powerful men in tech today, and it’s worth a watch.

    The full interview talk clocks in at 81 minutes in length, but Apple fans, and tech fans in general, will want to check it out.

    Those looking for new product announcements will be disappointed by the above video, but Apple fans won’t have long to wait to hear of what the company has up its sleeve as WWDC is only a few weeks away. A rumored iOS 7 redesign, and other software and hardware products will presumably be shown during the opening keynote on Monday, June 10.

  • Tim Cook Hints That Apple Is Working On Wearable Computers

    Tim Cook Hints That Apple Is Working On Wearable Computers

    Wearable computers are somewhat of a fad these days. It’s hard to say if it will be a fad a year from now, but Apple is researching ways to capitalize on the trend it if happens to grow.

    Reuters reports that Apple CEO Tim Cook hinted that wearable computers were on the tech giant’s shortlist of new products this week during an All Things Digital conference. He didn’t come right out and say that Apple was working on a smartwatch, but he did say that his company is working on “several more game changers.”

    So, what would an Apple-made wearable computer look like? It won’t be anything like Google Glass or other wearable computers. He said “there’s nothing that’s going to convince a kid who has never worn glasses or a band or a watch to wear one.” In other words, slapping a computer onto a watch isn’t suddenly going to make somebody want to wear a watch. Cook said that “there’s lots of things to solve in this space,” so Apple is obviously researching how to make wearable computers cool.

    That’s always what Apple has done best – making nerdy things cool. You could argue that Google Glass is really cool, but then a bunch of pasty white nerds make it not so cool anymore. An Apple iWatch or whatever it’s called would have to convince people that it’s cool to wear something that’s inherently nerdy on their person at all times.

    Of course, there’s always the possibility that Apple may just give up on its plans to release a wearable computer. It was impossible to make a calculator watch cool in the 80s, and it may be just as impossible to make smartwatches cool today.