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Breaking news from Cupertino. We’ll give you the latest from Apple headquarters and decipher fact from fiction from the rumor mill.

AAPL company Apple Park

AAPL is a California-based computer company that became the most successful smartphone company in the world.

AAPL defined by Apple

Here’s how Apple defines itself:

Apple revolutionized personal technology with the introduction of the Macintosh in 1984. Today, Apple leads the world in innovation with iPhone, iPad, Mac, Apple Watch, and Apple TV. Apple’s five software platforms — iOS, iPadOS, macOS, watchOS, and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay, and iCloud. Apple’s more than 100,000 employees are dedicated to making the best products on earth, and to leaving the world better than we found it.

Key AAPL history

From Apple I to iMac

Apple was founded in 1976 by Steve Jobs (Steve), Steve Wozniak (Woz), and (briefly) Ronald Wayne as a business partnership: Apple Computer Company. The following year it became Apple Computer, Inc. The company’s first product was the Apple I, a personal computer hand-built by Woz and sold in part-completed kit form. The Apple II and Apple III followed.

The modern Apple as we know it today began in 1983, with the launch of the first personal computer with a graphical user interface, the Lisa. Way too expensive to succeed, it was replaced by the Macintosh in 1984, launched with the single showing of a Ridley Scott commercial during the Super Bowl. The Macintosh transformed the world’s understanding of what a computer was, and would eventually lead to Microsoft adopting the GUI approach.

Steve Jobs and then Apple-CEO John Scully fell out in 1985, when Steve wanted to focus on the Macintosh while Scully wanted to put more attention on the Apple II, which was still selling well. That led to Steve being forced out of the company and going off to form NeXT.

Apple focused on selling Macintosh models at the highest possible margins, but would eventually fall foul of a mix of unsustainable pricing in the face of competition from Windows machines, and an overly complex product lineup. By 1996, the company was in trouble, and in 1997 Steve was brought back, along with the NeXT operating system, which would eventually form the basis of Mac OS X.

Steve simplified the Mac lineup and had industrial designer Jony Ive work on a whole new look for a consumer desktop Mac, the colorful iMac. The iMac, like the original Macintosh, again changed the world’s understanding of what a computer was, and who should want one.

From Apple Computer, Inc. to Apple, Inc.

In 2001, Apple launched the iPod. Although this wasn’t the first mp3 player, it was massively better than anything on the market at the time, and succeeded in turning a geeky piece of technology into a consumer electronics product with mass-market appeal.

The success of the iPod paved the way into other mobile devices. Apple was working on what would eventually become the iPad, when Steve realized that this was the basis of a smartphone. He diverted the team’s work into this, to launch the iPhone in 2007. The iPad launched later, in 2010.

The iPhone was yet another transformational product. While most other smartphones of the time were clunky devices with a keyboard and stylus, the iPhone was a sleek-looking device operated with a finger, and so simple that no user guide was needed. It was with the launch of the iPhone that Apple Computer, Inc. was renamed to Apple, Inc.

From Intel to Apple Silicon

While the iPhone, iPad, Apple Watch, and more are made with Apple-designed processors, the Mac lineup has historically relied on third-party companies for its CPUs. Over the years, Macs progressed from Motorola 680000 series chips through PowerPC to Intel.

In 2020, Apple began a two-year transition to the final stage in that journey, with Macs too finally getting Apple-designed chips. The first such is the M1 chip, used in the latest Mac mini, MacBook Air, and 13-inch MacBook Pro. Other Apple Silicon Macs followed.

AAPL today

Apple is one of the largest companies in the world. It was the first publicly traded company to hit a trillion-dollar valuation in 2018, $2 trillion in 2020, and $3T in 2022.

The company’s product lineup includes five different Mac families (MacBook Air, MacBook Pro, iMac, Mac Pro, and Mac mini); four iPad ranges (iPad mini, iPad, iPad Air, iPad Pro); four iPhone 12 models (12, 12 mini, 12 Pro, 12 Pro Max); three main Apple Watch models (SE, Series 3, Series 6); as well as other products, including Apple TV, AirPods, and HomePod mini.

In addition to hardware sales, Apple derives a growing proportion of its income from Services, including the App Store, iCloud, Apple Music, and Apple Pay.

Apple pushes back on criticism, says it’s fully complying with the DMA

Apple App Store EU

With iOS 17.4 this month, Apple debuted a number of new features as part of its efforts to comply with the Digital Markets Act in the EU. These efforts include alternative app marketplaces, new business terms for developers, and support for third-party browser engines.

Apple’s plans have faced criticism from companies like Meta, Epic, and Spotify. In a hearing on Monday, however, Apple justified its changes and explained why it believes it is in compliance with the DMA.

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Apple expands Restore Fund with new investments from TSMC and Murata

Apple today announced that it is expanding its Restore Fund, a project that it first launched in 2021 with a $200 million investment. Through the Restore Fund, Apple backs new financially-viable initiatives to restore forest woodland areas, which removes carbon from the atmosphere. 

In an update today, Apple said that it is welcoming its partners Taiwan Semiconductor Manufacturing Company (TSMC) and Murata Manufacturing as new investors in the Restore Fund.

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Brave Browser sees sharp increase in take-up as Apple prompts EU users to choose

Brave browser iPhone installs | Logo with graph

One change Apple made in iOS 17.4 has resulted in a notable increase in the number of iPhone owners choosing to install the Brave Browser app to use in place of Safari.

The EU’s Digital Markets Act (DMA) required Apple to prompt European iPhone users to choose their default browser, with its own Safari app merely listed as one of the options …

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Another Apple research lab opening in China, for new materials and technologies

Another Apple research lab opening | City skyline in Shenzhen, China

The bulk of Apple’s new product development work takes place in Cupertino, but the company has a number of research labs around the world. Locations include ChinaFranceIsraelJapanSweden and the UK. The company has today announced plans for a further lab in China.

Apple has two primary motivations for most of the overseas labs it operates, but there is an additional factor in the case of the latest example …

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Apple will allow users to download apps directly from a developer’s website, in latest EU App Store rule change

Apple App Store EU

Last week, Apple released iOS 17.4 with big changes to the iPhone and App Store ecosystem to comply with the Digital Markets Act in the European Union. This includes things like support for alternative app marketplaces, new business terms and in-app purchase options, and more.

Now, Apple has announced a few additional changes in response to feedback it’s received from developers so far. Most notably, Apple will launch a new Web Distribution feature later this spring that lets developers offer their apps for download directly from their website.

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Age verification should be Apple’s job, says Tinder parent Match

Age verification should be Apple's job | Young woman partly covering her face

Meta CEO Mark Zuckerberg has argued that for age-restricted apps, age verification should be Apple’s job. He’s now been joined in this view by the new head of trust and safety at Match, the company behind leading dating apps like Tinder, Hinge, OkCupid, and Plenty of Fish.

Yoel Roth – who formerly had the same role in Twitter – said that Apple and Google are in a better position to accurately assess the age of their smartphone users …

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What can we expect from a folding MacBook? (Aside from a less awkward label)

Folding MacBook would be along the lines of the Lenovo Yogabook (shown)

It was claimed earlier this week that Apple is actively working on a folding MacBook, and that plans for this are further advanced than those for a folding iPhone or iPad.

The term ‘folding MacBook’ is a rather awkward one given that the description could be applied to any of the existing models, but what’s meant by it is of course something very different …

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The law doesn’t allow Apple to threaten Epic, says EU commissioner

The law doesn't allow Apple to threaten Epic | Abstract image of man silhouetted against red smoke

Apple appeared to threaten Epic Games, when the company cancelled its developer account for the second time, and cited the developer’s public criticisms of the iPhone maker as one of the reasons.

The European Commissioner, who heads up the executive branch of the European Union, has now suggested that this breaks the law …

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Apple’s Epic ban is questioned by EU regulators, as more details emerge

Apple's Epic ban | Photo of lawyer fastening jacket

Apple’s Epic ban – which saw the iPhone maker again terminate a developer account used by the games company – is being questioned by EU antitrust regulators.

More details also emerged of follow-ups to Phil Schiller’s demand for written assurances of good faith by both Epic CEO Tim Sweeney and Apple’s lawyers …

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Apple talks with Mercedes, Ford, Tesla, and more detailed in new in-depth Apple Car report

Apple Car Play

As you may be familiar with by now, Apple has officially canceled its project to build an electric car. The project never saw the light of day and wasn’t even confirmed by Apple, but the company had been working on its own car since 2014. Following reports that Apple had approached Tesla for a partnership, we now know that the company has also talked to Mercedes-Benz about building an Apple Car together, per Bloomberg’s Mark Gurman.

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Apple shares three success stories from its Entrepreneur Camp for developers

Apple Entrepreneur Camp success stories | Photos of three participants

Apple’s Entrepreneur Camp was first launched back in 2018, focusing then on app-driven business owned or led by women. The latest edition is geared to developers from Indigenous backgrounds.

Apple has today highlighted three of the camp’s success stories, representing apps in the education, fitness, and mental health sectors …

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Apple’s DMA response could render the law toothless, say campaign groups

Apple's DMA response | Rainbow Apple logo on iPhone

Campaign groups say that if the EU lets Apple get away with its response to the Digital Markets Act (DMA), then the law will be rendered toothless.

Apple, Amazon, Google, and Meta have all taken the same approach to the antitrust law, say the groups: to seek technical compliance while ensuring that their market dominance remains protected …

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Apple stock falls to lowest level this year, while other tech companies see AI-fuelled rally

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Apple’s stock price has been taking a beating in the last few weeks, hitting a low for the year today, closing at $170.12.

Investors are pessimistic on the company’s outlook for a variety of reasons. Following a year of negative revenue growth in 2023, Apple executives forecast only meek growth guidance at its February earnings call. In the key Chinese market, there were more indications today that a recent streak of hot iPhone sales has come to an end. And investors are reeling from the EU’s $2bn fine for ‘illegal’ App Store policies, which threatens future Services revenue growth.

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Parts pairing used by Apple set to be outlawed by Oregon

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The practice of parts pairing – which can prevent third-party repair shops from cannibalising broken devices for parts – is set to be outlawed by Oregon.

The legislature just passed the toughest right to repair legislation seen to date, and it now requires only the governor’s signature to pass into law …

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iPhone sales ride high in Japan, plunge in China

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There’s good news and bad for Apple in two different market intelligence reports. One points to Apple’s market share rising and continuing to utterly dominate the Japanese smartphone market, while the other describes a dramatic slump in iPhone sales in China.

When it comes to Japan, it’s long been the case that there’s Apple, and then, a long way behind, there’s everyone else …

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Spotify comment on Apple’s $2B antitrust fine hints at possible malicious compliance

Spotify comment on Apple | Headphones next to iMac on desk

We noted yesterday that Spotify welcomed Apple being fined $2B for antitrust offences relating to streaming music services.

The tone of the company’s response, however, strongly suggests that it believes the iPhone maker will repeat what some have described as Apple’s “malicious compliance” in another antitrust case …

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Apple AI and why investors should expect revenue growth

Apple AI features iOS 18

Another day, another case of Apple stoking the growth fire on Wall Street with the magical two letters: AI.

Tim Cook’s shareholder meeting comments about Apple breaking new ground for AI this year were intended to excite investors. According to one analyst, however, the market has not been persuaded by promises. Still, they make the case for one investors should be optimistic about the company’s revenue growth with AI.

Meanwhile, Apple has found new ways to market existing silicon using AI. The term AI, not the technology, that is.

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Veteran Apple engineering exec Dan Riccio ‘nearing retirement’

In January 2021, Apple reshuffled its hardware engineering team by Dan Riccio shifting from Senior Vice President of Hardware Engineering to a “new role focusing on a new project.” John Ternus then took the reins of the hardware engineering team and joined Apple’s executive team.

Bloomberg now reports that Riccio “has told colleagues he’s nearing retirement after more than 25 years at the company.”

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