AAPL April 15

AAPL: 109.85

-2.25
Stock Chart

As CNBC notes, Apple’s stock is seeing a noticeable afternoon dive following a supply chain report that iPhone production will remain reduced from April through June. Nikkei Asian Review issued the report earlier today:

Slow sales of the flagship iPhone 6s and iPhone 6s Plus, which debuted last autumn, have forced Apple to adjust inventories. It lowered production for the January-March quarter by about 30% from the year-earlier period. With sales still sluggish, the U.S. company has told parts suppliers in Japan and elsewhere that it will maintain the reduced output level in the current quarter.

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AAPL April 11

AAPL: 109.02

0.36
Stock Chart

AAPL March 31

AAPL: 108.99

-0.57
Stock Chart

Supply-chain sources cited by the variably-reliable Digitimes claim that Apple’s Q2 chip orders are down on previous years, and that demand for the iPhone SE is not high enough to offset declining demand for the iPhone 6s/Plus.

Shipments for the new iPhone SE will be unable to offset the fall in shipments for the iPhone 6s and 6s Plus devices in the second quarter, the sources continued. The shipment target for the SE in the second quarter is four to five million units, the sources said.

Apple did caution that the current quarter’s revenue would see its first year-on-year fall in 13 years, the company predicting a drop of around 11%, which will be in large part due to (probably temporary) ‘peak iPhone.’ This latest report suggests that the slump may continue into the following quarter …

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9to5toys 

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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