AAPL ▪ October 7

AAPL: 110.78

Stock Chart

Lobbying group Citizens for Tax Justice has called out Apple, Google and Microsoft and others for what it described as “accounting tricks” in which companies “pretend” to be based overseas for tax purposes. The claims were made in a report entitled Offshore Shell Games 2015.

Many multinational corporations use accounting tricks to pretend for tax purposes that a substantial portion of their profits are generated in offshore tax havens, countries with minimal or no taxes where a company’s presence may be as little as a mailbox. Multinational corporations’ use of tax havens allows them to avoid an estimated $90 billion in federal income taxes each year.

The group said that Apple has paid “a miniscule 2.3 percent tax rate on its offshore profits,” many of which have been entered into Apple’s books in Ireland. CTJ says that if Apple paid U.S. tax rates on those profits, it would owe $59.2 billion.

The controversy over the legitimacy of Apple’s overseas tax arrangements is not, of course, anything new …  expand full story

AAPL ▪ October 5

AAPL: 110.78

Stock Chart

Tim Cook has emailed Apple staff on the 4th anniversary of the passing of Steve Jobs, thanking them for “remembering both who he was and what he stood for,” reports the Telegraph. Cook said that Jobs was “a brilliant person” who left an incredible legacy.

What is his legacy? I see it all around us: An incredible team that embodies his spirit of innovation and creativity. The greatest products on earth, beloved by customers and empowering hundreds of millions of people around the world. Soaring achievements in technology and architecture. Experiences of surprise and delight. A company that only he could have built. A company with an intense determination to change the world for the better.

Cook also made two references which which seem to indirectly refer to less flattering portraits painted of Jobs in biographies and movies …  expand full story

AAPL ▪ September 18

AAPL: 113.45

Stock Chart

Update: Images of the new store’s facade below via @MikesiOSHelp and @thequinntaylor.

With Apple’s redesigned company store set to open this weekend, details of changes to the new store have been highlighted in a memo to employees (via MacMagazine). Among the changes, the new Apple company store will for the first time sell Apple devices including the iPhone, iPad, Macs, and Apple Watch. The store is also re-opening with a new collection of Apple-branded merchandise including clothing, mugs, and other collectibles that are only available at the company store.  expand full story

Apple has scored a belated additional victory against Samsung in its endless patent trial battle with the smartphone rival. Apple had originally asked the court for two remedies: financial compensation, and an injunction forbidding Samsung from continuing to sell devices which infringed its patents. The court said yes to the first, no to the second.

As the WSJ reports, a federal appeals court judge has ruled that the court should have also granted the injunction.

“Samsung’s infringement harmed Apple by causing lost market share and lost downstream sales and by forcing Apple to compete against its own patented invention,” the U.S. Court of Appeals for the Federal Circuit said[…]

The appeals court [ruled that] a California trial court that previously denied Apple’s request “abused its discretion when it did not enjoin Samsung’s infringement” … 

expand full story

AAPL ▪ September 7

AAPL: 109.27

Stock Chart

Alongside building its far more famous spaceship campus in Cupertino, Apple has also been busy expanding its main U.S. operations campus in Austin, Texas – with four of the planned seven buildings now open. The Austin-based American-Statesman got to do a photo tour of the facility.

We first reported on Apple’s $304M plans all the way back in 2012, with the first employees moving in two years later. This is our first look inside the latest stage of the development …  expand full story

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