AAPL March 17

AAPL: 105.80

-0.17
Stock Chart

When the celebrity nudes story broke back in 2014, it was headline news in the mainstream media. The story was that ‘iCloud had been hacked.’ The truth, of course, was a little different. As we suspected at the time, and Apple later confirmed, the ‘hack’ wasn’t really any such thing. A combination of two techniques were used to gain access to the iCloud accounts.

First, phishing: sending emails designed to look like they were from Apple asking the celebrities to login to their accounts, and directing them to a fake website made to look like the real thing. Second, guessing the answers to security questions – something easier to do with celebrities given the amount of biographical information available in the public domain.

That’s not to say Apple was entirely blameless. iCloud did not, at the time, offer two-factor authentication. Given that an iCloud backup is a near-complete copy of all the data stored on an iPhone, that was something which should have been included from the start. But the bottom-line is that iCloud itself wasn’t really hacked in any meaningful sense of the word.

It was this week confirmed that phishing was the approach taken by the main offender in this case. In other words, nothing whatsoever to do with iCloud security. This news hasn’t resulted in a single headline in the mainstream media. The average non-tech person out there still believes ‘iCloud was hacked’ …

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AAPL March 15

AAPL: 104.58

2.06
Stock Chart

AAPL March 9

AAPL: 101.12

0.09
Stock Chart

The European Union warned us this week not to expect a speedy conclusion to the long-running investigation into the legality of Apple’s tax arrangements in Europe. The delay follows a decision back in December to expand the scope of the investigation.

But while the wheels of EU tax investigations may grind exceedingly slowly, I’d be willing to wager quite large sums of money on the final outcome. It looks to me increasingly clear that Apple’s tax arrangements with the Irish government are going to be declared illegal, and that Apple is going to be faced with a significant bill for unpaid tax …

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9to5toys 

AAPL March 8

AAPL: 101.03

-0.84
Stock Chart

Well, the e-book case that began in 2012 when the US government accused Apple of price-fixing finally ended yesterday  when the Supreme Court declined to hear Apple’s appeal. That left the original ruling intact, meaning that Apple is officially guilty of anti-competitive behavior and will have to fork out $450M in compensation.

There’s no doubt in my mind that the correct result was reached in law. Apple did deliberately set out to fix prices, it did strike secret deals, and it did intend to manipulate the e-book market. Emails from Steve Jobs confirmed the government’s claim that Apple struck the deals in the belief that consumers would end up paying more for e-books.

Throw in with Apple and see if we can all make a go of this to create a real mainstream ebooks market at $12.99 and $14.99. [Up from the typical $9.99 at the time.]

So far, so good. If you’d brought that evidence to me at the time Apple did the deals, I’d have agreed with the government that the company’s behavior was both illegal and morally wrong. But I’d argue that by the time the case was finally brought to court, it was already abundantly clear that it was not in the public interest to pursue it …

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AAPL March 7

AAPL: 101.87

-1.14
Stock Chart
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