Award part of pre-arranged performance compensation package
[Updated with filing info for Eddy Cue] A pair of filings with the US Securities and Exchange Commission has revealed that Apple CEO Tim Cook and SVP of Internet Software and Services Eddy Cue have been awarded a total of 910,000 shares of AAPL stock for differing reasons. In the case of Cook, the company's performance relative to other companies in the S&P 500 over the last two years merited the award. The combined gross value of the stock is nearly $94 million at current prices.
Cook's letter to Jim Cramer may have violated SEC disclosure regulation
Attorneys at various news agencies are claiming that Apple CEO Tim Cook is in violation of US Securities and Exchange Commission (SEC) rules. The analysts purport that the letter to CNBC analyst and fund manager Jim Cramer that was read during a broadcast violate fair disclosure of corporate financial information, and the public exchange of data that may impact stock pricing.
CEO seeks to reassure investors on China market strength, Apple growth
Apple CEO Tim Cook, who has previously demonstrated a fondness for CNBC stock showman Jim Cramer, sent the host an email that Cramer subsequently made public in which Cook reassures Cramer and his audience that current worries about the Chinese economy (which have taken a substantive toll on the entire stock market, including Apple's stock) are fleeting, and that Apple's growth in the country continues apace.
Water-saving Nebia shower head received personal investment from Apple CEO
A start-up that has previously received funding from Apple CEO Tim Cook has launched a product on Kickstarter. The Nebia Shower is pitched as a shower head that uses 70 percent less water than typical models, allowing it to potentially pay for itself within two years in water savings alone. The washing device has already exceeded its original funding goal of $100,000 with 30 more days left to run on the Kickstarter campaign.
Apple store and main website combined into single entity
Yesterday late, Apple revamped its online presence. The previous separate store is gone, replaced by direct buying links on each product page, and a unified "shopping bag" icon to replace the "store" button in the top menu bar of the site. Clicking on the purchase link no longer redirects to the store.apple.com domain, instead filling the always-available shopping bag, and streamlines the product purchase process.
Legislator meets with Cook, says Apple is 'on the right track' in outreach, hiring
The Congressional Black Caucus has called for Apple and other Silicon Valley companies to update or release federal data on workplace diversity, with California state representative Barbara Lee having met with Apple CEO Tim Cook earlier in the week on behalf of the group. She praised Cook and Apple's efforts thus far, saying "Apple seems to be moving in the right direction," but also met with several other tech firms that have been less transparent on the issue.
Apple CEO greets visitors to celebrate debut of Apple Watch in Turkey
Over the weekend, Apple CEO Tim Cook took a surprise visit to Turkey on Saturday to be present at the two Apple Stores in the country's largest city, Istanbul, to celebrate the arrival of the Apple Watch to the country. The Apple Watch Sport starts at 1,249 Turkish Lira (TRY), which translates to about $450 US at the current exchange rate. The company now has two stores in Istanbul, a flagship store at the Zorlu Center mall, and another at the Akasya Shopping Center.
Strategy Analytics estimates first-quarter shipments of four million units
One day after Apple CEO Tim Cook debunked reports that sales of the Apple Watch were slipping by saying in a conference call with analysts that in fact, June sales had outperformed both May and April -- including the original rush of pre-orders, new data from Strategy Analytics claims that not only has Apple handily stolen the crown of top smartwatch seller from Samsung in just its first full quarter, the company has outsold all rivals combined year-to-date.
CEO specifically debunks recent report of declining sales
Although Apple has declined once again to provide sales numbers on the Apple Watch in order to avoid giving valuable information away to competitors, CEO Tim Cook took time out Tuesday's conference call with analysts to specifically challenge a recent report by Slice Intelligence that claimed that Watch sales were declining, and had fallen 90 percent since its debut weekend. Cook said that in fact, sales in June were the highest yet.
Fourth attendance of Sun Valley event for Cook
Apple CEO Tim Cook made an appearance at this week's Sun Valley media conference this week, in one of his regular visits to the Allen & Company gathering. Accompanied by Senior Vice President of Internet Software and Services Eddy Cue, Cook spent time with executives of a number of tech companies, with major names from both inside and outside the technology industry in attendance at the event in Idaho.
Apple CEO was Fuqua business school scholar, awarded MBA in 1982
Though Apple CEO Tim Cook often identifies as an Auburn alumnus and strong supporter of the football program there, he is also a graduate of Duke University in North Carolina, having graduated with an MBA from Duke's Fuqua business school. On Tuesday, Duke University named Cook as one of several new members of the Board of Trustees for the school. Along with other board members, Cook will help direct the school's fiscal and educational policies.
Announces new Chinese educational programs to be offered in schools
In a new interview given to the Chinese-language version of Businessweek, Apple CEO Tim Cook admits that the company takes Chinese consumer tastes into account in its product designs, along with other factors. Cook specifically pointed to the gold color option -- first introduced with 2013's iPhone 5s and now expanded to the iPad and new 12-inch Retina MacBook line -- as reflecting in part "the popularity of that color among Chinese users."
Not just the betas, but what's going on behind them, plus Oculus Rift VR
WWDC has come and gone for another year, and with it a plethora of new announcements and betas. Despite our fairly abysmal "wild guess" record, we did come up 90 percent right on our list of things we "knew" would happen (Tim Cook skipped his usual run-through of how great Apple is doing just to spite us). This time, we look at what actually happened at WWDC, in the larger tech industry, Apple Music, and what it all might mean.
Apple CEO asks execs to investigate retail employee complaints
According to documents unsealed in an ongoing lawsuit brought by Apple retail workers against the company, Apple Store employees took to writing emails directly to Apple CEO Tim Cook to complain about the way employee bag check searches, which are intended to guard against pilfering and loss, are conducted. The lawsuit contends that employees are subject to "demeaning" procedures that also cost them excessive time and lost wages.
Speaks strongly against government, tech firms data collection practices
Even as the Republican-dominated US Senate passed a measure attempting to restore some -- but not all -- of the government's bulk data-collection powers (which expired on Monday), Apple CEO Tim Cook reiterated his role as America's leading corporate pro-privacy advocate by speaking via teleconferencing at an event hosted by the Electronic Privacy Information Center, where he was honored as one of America's "Champions of Freedom."
Apple CEO's gift currently worth $6.56 million, according to SEC
A new SEC filing by Apple has revealed that CEO Tim Cook donated 50,000 shares of Apple stock to an unnamed organization, which if sold now would be worth more than $6.56 million. Cook donated the shares out of his personal holdings of AAPL, and was required to file an SEC Form 4 to disclose the transfer, but did not specify which charity has received the gift. Cook has tended to donate to social justice and LGBT organizations.
Cook discusses meeting famous and influential men throughout his life
This past weekend, Apple CEO Tim Cook gave the commencement speech to The George Washington University graduating class of 2015. In it, he discussed his first trip to Washington, DC at the age of 16 in 1977, as well as the 1998 meeting with Steve Jobs that convinced him to join Apple, as part of Jobs' efforts to save the then-floundering company. Cook also expressed his thoughts on the importance of human rights, and the ability of individuals to affect positive change, even in the workplace.
May strike deal with Alibaba ahead of long-stalled Union Pay to move forward
[Updated with Tuesday meetings information] In a move to underscore the importance of the rapidly-growing Chinese market, Apple CEO Tim Cook has opened a social media account on Sino Weibo, and has told the Chinese press that negotiations with regional banks and credit card partners in China to bring Apple Pay to the country continue. The iPhone maker has had trouble reaching an accord with UnionPay, the largest credit-card issuer in the country, but may be bypassing the stalemate by striking a deal with Alibaba.
Minor update patches WebKit security flaws in Yosemite, Mavericks, Mountain Lion
On Wednesday, Apple updated its Safari browser for OS X 10.8 (Mountain Lion), 10.9 (Mavericks), and 10.10 (Yosemite) to versions 6.2.6, 7.1.6, and 8.0.6, respectively. The updates applied patches to discovered security flaws in WebKit, the underlying engine of Safari, that could have been exploited if left unfixed. Potential problems that could have arisen from the flaws could have resulted in crashes, access to filesystem contents, or allowing a site to spoof a user interface. The updates as relevant will appear in the Updates tab of the Mac App Store.
Apple CEO profiled by civil rights leader John Lewis; Ive profiles Airbnb CEO
Time magazine has named Apple CEO Tim Cook as one of the "100 Most Influential People," saying that his work at Apple proves "that even the most successful companies can and should be judged by more than just their bottom line." The profile on Cook was written by long-time civil rights activist and congressman John Lewis, while Apple SVP of Design Sir Jonathan Ive was tapped to write a profile of Airbnb CEO Brian Chesky in the same article.
Proceeds again benefit Robert F. Kennedy Center for Justice, Human Rights
For the third year running, there is an opportunity for a winning bidder to have lunch with Apple CEO Tim Cook, thanks to a Charitybuzz online auction. The lunch data and a pair of VIP tickets to one of Apple's future keynote events are on auction to raise money for Cook's preferred charity, the Robert F. Kennedy Center for Justice and Human Rights. Last year, a similar auction raised $330,000 for the center. Current bidding, with 21 days to go, is $37,500.
CEO offers employees a half-off discount on sport, steel editions
Following a suggestion from a retail employee during a meeting in Germany, Apple CEO Tim Cook has met the suggestion half way: he has decided to offer all Apple employees, including retail workers, a 50 percent discount off the cost of either aluminum "sport" version or the stainless steel version of the Apple Watch, or $550 off the cost of the 18kt gold Edition versions. The discount is only available for 90 days, starting April 10.
Staffers discuss new book, new gaming column, new apps
We're now at episode eight of The MacNN Podcast, which this week welcomes our new Apple Gaming column, as well as reminding listeners about our weekly game news roundup. We also discuss the book Becoming Steve Jobs, and Tim Cook's latest honor from the business world. More confusion about Windows 10 pricing outside China has come to light, and tech companies are asking for changes in the Patriot Act.
Apple, other tech companies react harshly to similar Indiana law
Amidst strong critical and economic reaction to an anti-LGBT law signed by Republican Governor Mike Pence in Indiana, Apple CEO Tim Cook -- recently named as the "World's Greatest [Business] Leader" by Fortune magazine -- has posted on Twitter expressing "deep" disappointment with the move and urging another Republican governor, Asa Hutchinson of Arkansas, not to sign a similar measure.
New interview discusses pressures of leadership, higher profile of colleagues
On Thursday, Fortune magazine named Apple CEO Tim Cook to the top spot of its "World's 50 Greatest Leaders," which largely refers to business and industry leaders rather than government officials. The honor came with a new interview with Cook as well as some of those who work with him, and addresses many of Cook's and the company's successes (and a few missteps) in the lengthy profile.
Inner circle felt need to help provide more complete picture of complex leader
After a long period of refusing to participate, and following some "reflection" on how Jobs was portrayed in his own authorized biography, Apple executives reversed course and agreed to be interviewed for a new biography on the mercurial co-founder and twice-CEO of Apple. Due to go on sale tomorrow, Becoming Steve Jobs, by Brent Schlender and Rick Tetzeli, includes statements made by CEO Tim Cook and numerous other Apple executives, a first for the company since Jobs' death in 2011.
Congratulates host on 10-year anniversary of 'Mad Money' stock show
Say what you want about CNBC financial host Jim Cramer, but he found a way to making talking about stocks for a good portion of the day interesting through a combination of hair-on-fire histrionics and old-fashioned physical comedy. On the occasion of the Mad Money show's tenth anniversary, Apple CEO Tim Cook called in as a surprise to congratulate Cramer, saying that "we love the fact that you highlight innovation as a centerpiece of your show." Cramer took the opportunity to praise Cook as well.
Donation announced on same day as call for African-American on Apple's board
Even as Reverend Jesse Jackson was calling on Apple CEO Tim Cook to name a person of color to Apple's board of directors to replace the retiring Mickey Drexler at its annual shareholder's meeting, the company announced that it would invest some $50 million in grants to various organizations aimed at raising the profile and diversity of minorities, women, and service veterans in the technology industry. The money will fund the first stage of a multi-year effort, the company said.
Cook commits to more work on diversity, dodges questions on board opening, Tesla
The annual Apple shareholders' meeting was held on Tuesday at Apple headquarters in Cupertino, with shareholders re-electing the entire board of directors, expressing confidence in the management team, and following Apple's recommendations on various proposals. The board was re-elected with 95 percent approval, but Apple CEO Tim Cook notably avoided questions about diversity on Apple's board, as well as shareholder questions about a possible Tesla relationship.
CEO Tim Cook reveals details, apps for Apple's latest hardware category
On Monday, Apple CEO Tim Cook and other executives spent the majority of their time during the press event held today talking about the forthcoming Apple Watch. The company finally iterated pricing for the device, one of the biggest mysteries concerning the debut, by saying the Sport version would start at $349 ($399 for the men's model), while the regular model would begin at $549 to $1,040 ($50 more for the 42mm men's watch size), and the deluxe Edition version, which features a solid 18-karat gold body, would be available from $10,000. The Apple Watch will officially open for pre-orders at retail on April 10, and demos are available at Apple Stores. It will debut on April 24 at retail.
First five apps available today, focusing on diabetes, Parkinson's, more
As part of today's Apple "Spring Forward" event, CEO Tim Cook announced ResearchKit, a framework that enables medical researchers to more easily design the apps they're going to use for clinical studies. The first apps available target Parkinson's disease, diabetes, cardiovascular disease, asthma, and breast cancer. The app development kit is strictly opt-in for users, and is designed to collate data from research subjects. It runs hand-in-hand with HealthKit, and will be open source for full availability to all who seek to use it.
Product debut build-up resulting in rare access to CEO and design chief
A new interview with Apple design head Sir Jonathan Ive and recent remarks by CEO Tim Cook are shedding some light (and building up hype) for both the Apple Watch and the current outlook of the company and the men who run it. Ive, in an interview with London's Financial Times, explains the rationale behind the development of the Apple Watch, while Cook expanded on his view on privacy, and Apple's industry leadership. In other news, a forthcoming Apple Watch app has already set the bar to a new low.
Apple Watch, abilities will expand over time, replace car keys as well
In a new interview with the UK newspaper the Telegraph, Apple CEO Tim Cook has revealed a few new tidbits about the forthcoming Apple Watch, as well as some of the larger vision behind such innovations as the watch, and Apple Pay, and Touch ID -- an all-out attempt to reduce the ephemera people need to carry with them, from wallets to car keys. In the same report, Cook also confirmed that Apple will "tweak" its retail look to accommodate Apple Watch buyers, who are likely to be even more upscale than average Apple customers.
Visits with German Chancellor, Israeli President for former president
Fresh from his trip to Germany, Apple CEO Tim Cook and Apple VP of Hardware Technology Johny Srugi -- the latter a graduate of Israel's Technion Institute of Technology -- have made their way to Israel for meetings and to attend the opening of a new set of Apple R&D offices in Herzliya. Along with the announcement of a nearly $2 billion investment in two new data centers to be located in Europe, Cook and Srugi met with various Israeli officials, including President Rueven Rivlin and former president Shimon Peres.
Reason Cook is in Germany not clear, pays visit to Bild tabloid newspaper
Apple CEO Tim Cook was spotted in Berlin, Germany on Tuesday, spending a portion of his day with the editors of the German tabloid paper Bild, though the reasons for the visit were not made clear. Cook may be in Germany for a variety of reasons, ranging from meetings with EU bankers to help forge European Apple Pay agreements, to overseeing the last of the glass panels for the Apple Campus 2, or on his way to Israel to help open the new Apple R&D center there. While in Germany, he tweeted a remembrance of what would have been Steve Jobs' 60th birthday.
Initiative launches in September, massive transaction volume expected
At today's Cyber Security conference at California's Stanford University, Apple CEO Tim Cook took the stage. As part of the appearance, the White House and Cook announced that Apple Pay would be enabled for users of federal payment cards, including all benefits that are paid out through debit cards. Additionally, the Apple payment service would be accepted at National parks and similar venues.
Facility near Anobit's offices in Israel, purpose of location unknown
Reports are circulating that Apple CEO Tim Cook is headed to Herzliya, Israel early next week. While there is no official confirmation from Apple, the executive is said to be attending the opening of a new Apple office and research facility in the country, an area where Apple has had little corporate presence other than acquisitions in for some time.
Apple holds new record as first company to pass $700 billion
During Tim Cook's interview at an investor's conference today in San Francisco, Goldman Sachs President and COO Gary Cohn told Cook that his company, Apple, had become the first publicly-traded company to ever top $700 billion in market capitalization, and the stock also closed the day at a new record high of $122.02 per share. The peaks come just a under a week after the previous all-time high last Wednesday, following a record-shattering holiday quarter.
To be built just south of HQ, will supply enough power for 60,000 homes
At the Goldman Sachs Technology and the Internet conference in San Francisco on Tuesday, Apple CEO Tim Cook revealed that the company is planning to build its "biggest, boldest, and most ambitious project" in renewable power ever -- an $850 million solar farm to be built in Monterey county, which is expected to eventually provide enough power to run all of Apple's operations -- from the new HQ to retail stores -- in the state of California.
Apple CEO expected to reiterate previous statements on product pipeline
Apple CEO Tim Cook will again be a speaker at this afternoon's Goldman Sachs Technology and Internet Conference, taking place in San Francisco. Cook will be among numerous tech company speakers, including executives from Seagate, NetApp, SanDisk, AMD, ZenDesk, and Jive Software, among others. Cook will address the conference at 12:30PM PT (3:30PM ET) today, and the audio stream is being carried live by Apple on its investor web page.
President seeks to strike balance between security and privacy
The Office of the President has announced a forthcoming White House Summit on Cybersecurity and Consumer Protection that will take place on Friday, February 13 at Stanford University. President Obama and representatives from business, government, cyber security firms and other interested stakeholders will gather in the hopes of finding a balance between protecting America's interests from the growing threat of cyber-attacks, while still protecting citizen privacy. Apple CEO Tim Cook is among those who have been invited to speak.
Now taking two-thirds of mobile payments; cash grows despite payouts
If you are making a contactless mobile payment in the US based on a Visa, MasterCard or American Express account, odds are that you're doing it from an iPhone 6 model. During the conference call with analysts, Apple CEO Tim Cook revealed that the company's Apple Pay mobile payments system -- only in its fourth month -- now accounts for more than $2 of every $3 of money paid in that manner. In addition, CFO Luca Maestri updated analysts on the still-growing (but more slowly) cash stockpile Apple has, now at $178 billion.
Cites high customer satisfaction, enterprise opportunities among reasons
Apple's iPad tablet is continuing to see growing declines in sales, as noted in the most recent quarterly results. As expected, the iPad dropped 18 percent year-over-year in sales, though new models and the holiday season provided a substantial boost from the previous quarter. Although Apple only sold 21.4 million iPads this holiday season compared to 26 million last year, sales were up strongly from the previous quarter, leaping from September's 12.3 million iPads.
J. Crew Group CEO will retire from Apple's board after 16 years
In a new filing with the SEC, Apple revealed on Thursday that CEO Tim Cook has been able to double his total compensation from that of last year, with the increase based largely on performance bonuses based on how well the company has done over the last year. In addition to $1.75 million in salary, Cook reaped $6.7 million in non-equity incentive compensation for his work. In addition, Apple disclosed in the filing that board member Millard "Mickey" Drexler will retire.
Holiday season expected to give Apple another record-breaking quarter
Apple has announced that it will release the results of its fiscal first quarter of 2015 on Tuesday, January 27. An earnings call is scheduled for 2PM PT that day, or 5PM Eastern, but the company typically issues a press release about 30 minutes beforehand. Barring unexpected developments, the call should include commentary by CEO Tim Cook and CFO Luca Maestri as they respond to questions from analysts and investors, and is expected by most pundits to result in a record quarter for the company.
Links worth to stock performance
Apple's Tim Cook has been chosen as CNN Money's CEO of the Year for 2014. The site explains this is because "Apple is the apple of Wall Street's eye again;" the company's shares are noted to be up 40 percent this year, and close to an all-time peak. CNN in turn links that stock performance to the success of the iPhone 6 and 6 Plus, and "excitement" about the Apple Watch, due to ship early next year.
Williams tells Apple staff that company is improving labor conditions
In a new email memo to the company's UK workforce, Apple's Senior VP of Operations Jeff Williams claims that he and CEO Tim Cook were "deeply offended" by a BBC Panorama documentary exposing labor abuses in the company's supply chain. Specifically, Williams and Cook are said to have been "deeply offended by the suggestion that Apple would break a promise to the workers in our supply chain, or mislead our customers in any way;" Williams charges that "Panorama's report implied that Apple isn't improving working conditions. Let me tell you, nothing could be further from the truth."
Apple CEO looks to influence Southern politics
Apple CEO Tim Cook has made a "generous personal financial investment" in Project One America, an LGBT rights effort run by the Human Rights Campaign, according to an announcement. Project One is concentrated on securing marriage and nondiscrimination rights for LGBT people in Alabama, Arkansas, and Mississippi. HRC says it's interested in "tearing down misperceptions, and providing concrete protections for those who need it most." The organization also lauds Cook for being the first openly gay CEO of a Fortune 500 company, calling it a "clear and powerful message" about it being acceptable to be gay.
CEO announces company's promotions have raised over $100 million since 2006
In a memo to all employees, Apple CEO Tim Cook has announced that the recent (Product) RED campaign, which ran through app upgrade purchases, in-store items and online accessories during the run-up to World AIDS Day on December 1 raised over $20 million, which will be seeded to the Global Fund. The group fights HIV/AIDS, malaria and other health threats largely in Africa and other impoverished areas. Cook said that the promotion has thus pushed Apple's total contribution to over $100 million since 2006.
Executive loses equivalent Time title
Apple CEO Tim Cook has been selected as the Financial Times' Person of the Year. In granting him the title, the publication cites Apple's financial success and "dazzling new technology," as well as Cook's willingness to come out as gay in a Businessweek essay; he is the first openly gay CEO of a Fortune 500 firm. The Times also compliments Cook on hiring former Burberry CEO Angela Ahrendts to head retail, and this summer's acquisition of Beats for $3 billion.