AAPL Overview Updated September 1, 2016


Apple Inc.

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455 AAPL stories

August 2010 - September 2016

AAPL Stories September 1

AAPL: 106.73

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Apple Store in London's Covent Garden
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I expressed surprise on Monday that Tim Cook would write what I described as a ‘tone-deaf’ open letter on the Irish tax ruling, and it’s been fascinating to see the responses.

In particular, I think there’s a significant difference in perceptions of this issue between Americans and Europeans. This difference does, I think, explain why Cook made what seemed to me to be a strategic error.

My surprise was that he focused exclusively on arguing that Apple was obeying the law, doing nothing that other large companies don’t do – and the unfairness of the situation from Apple’s perspective. Many commentators on the piece echoed these arguments, and it’s clear that many Americans are puzzled by my description of the letter as tone-deaf, so I thought a little context would be helpful …

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AAPL Stories August 30

AAPL: 106.00

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Tim Cook has posted an open letter on Apple.com for customers, in response to the European judgement that Ireland must recover 13 billion euros in tax revenue from Apple, covering the period 2003-2014. In the public posting, Cook lambasts the judgement as having serious consequences on European business. It says the ruling suggests Apple received a special deal on our taxes which has “no basis in fact or in law”. Cook says Apple is being compelled to pay back taxes to a government that states Apple does not owe any additional money.

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EU antitrust regulators have today ruled that Ireland’s tax arrangements with Apple are illegal. It is demanding that the country get Apple to pay back up to 13 billion euros in back taxes, around 15 billion dollars. Last night, it was reported to be in the region of 1.1 billion dollars so this is a substantial increase in the final ruling. The bill is probably subject to appeals but a ruling in the order of billions is a huge deal, even for Apple.

Update: Apple has said that it will appeal the European Commission tax decision, via Reuters.

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AAPL Stories August 25

AAPL: 107.57

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