company Stories February 10, 2015

Apple becomes 1st company ever to close at market cap of over $700B (AAPL)

Update 2/11: After passing $700 billion in market capitalization yesterday, Apple has been trading up as high as $124.43 a share raising market cap over $720 billion.

Apple’s stock price closed up 2.3 points today to close at 122.02 giving the Cupertino company that was on the verge of bankruptcy less than 2 decades ago, the highest market cap of all time. The closing market cap of $710B reflects significant growth since it hit a recent low of a split-adjusted 56 in mid-2013.

To put it into perspective, Apple is now valued at $100 for every man, woman and child on the face of the earth.

Speaking of AAPL, Tim Cook is at Goldman Sachs today discussing Apple’s recent success and announcing a industry first Solar farm that will offset all of Apple’s California electricity use including its Campus 2, offices and 40 retail stores. 

And on that note, First Solar, the company that is partnering with Apple on the Solar Farm is up almost 10% on the news.

company Stories August 29, 2014

Apple CEO Tim Cook with former VP of Worldwide Communications Katie Cotton
Comments (58)

“Beautifully, unapologetically plastic.”

“Feature for feature, it’s identical to iPad Air in every way.”

“Just avoid holding it in that way.”

Apple’s public relations (PR) department is probably the best in the world — certainly more impressive at shaping and controlling the discussion of its products than any other technology company. Before customers get their first chance to see or touch a new Apple product, the company has carefully orchestrated almost every one of its public appearances: controlled leaks and advance briefings for favored writers, an invite-only media debut, and a special early review process for a group of pre-screened, known-positive writers. Nothing is left to chance, and in the rare case where Apple doesn’t control the initial message, it remedies that by using proxies to deliver carefully crafted, off-the-record responses.

Except for a few big exceptions, such as the memorably off-pitch quotes above, Apple’s “tell them what to believe” PR strategy has worked incredibly well for years. But it has also created tensions between the company and the people who cover it, as well as within Apple itself. The company’s long-time head of PR, Katie Cotton, left the company earlier this year as CEO Tim Cook openly sought to make a major change in the way Apple interacted with the press and its customers. As the hunt for Cotton’s replacement is still in progress, and the depth of Apple’s commitment to change remains unclear, we look today at the techniques Apple has used to quietly manipulate its coverage over the years.

You can navigate between the chapters, below:

– Part 1) Apple Events and Shredded White Booklets

– Part 2) Introducing the Teams: How PR Is Organized at 3 Infinite Loop

– Part 3) Strategies: The “Art of Deep Background” and Controlling the Press

– Part 4) The Departure of a “Tyrant”

– Part 5) Two Heads In Place Of One

– Part 6) Controversies: From Maps to Beats to Haunted Empires

– Part 7) Product Reviews, Briefings, & Reviewer’s Guides

– Part 8) Steve Jobs and the Process Behind Press Releases

– Part 9) A Friendlier, More Transparent Future?

Two months in the making, this article is the product of over a dozen interviews with journalists, bloggers, and PR professionals, including many who have worked at Apple.

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company Stories January 22, 2014

Using your own iPhone at work? Watch that it doesn’t get wiped when you leave …

Employees who use their own electronic devices at work under a Bring Your Own Device (BYOD) arrangement may have unwittingly authorised their employer to remotely wipe their device when they leave the company, reports the WSJ.

In early October, Michael Irvin stood up to leave a New York City restaurant when he glanced at his iPhone and noticed it was powering off. When he turned it back on again, all of his information—email programs, contacts, family photos, apps and music he had downloaded—had vanished […]

It wasn’t a malfunction. The device had been wiped clean by AlphaCare of New York, the client he had been working for full-time since April. Mr. Irvin received an email from his AlphaCare address that day confirming the phone had been remotely erased.

A survey found that 21 percent of companies perform a remote wipe of employee-owned devices registered on the company network, with employees ostensibly agreeing to this when they connect to the company network.

Many employers have a pro forma user agreement that pops up when employees connect to an email or network server via a personal device, he added. But even if these documents explicitly state that the company may perform remote wipes, workers often don’t take the time to read it before clicking the “I agree” button.

The legality of the practice has reportedly not yet been tested in court.

In principle, an iCloud or iTunes backup should allow wiped iPhones to be restored, but you may want to pay a little more attention to the small-print next time one of those corporate messages pops up on your screen, to find out what it is you’ve been agreeing to …

Update: Several readers have pointed out that the remote wipe would be performed via the company’s Exchange servers, so removing the Exchange account the day before you leave would be a good precaution.

company Stories December 27, 2013

Apple today issued its Preliminary Proxy Statement via its Investor Relations website. As a publicly traded company, Apple issues this document annually, and it discusses pay packages for both executive team members and board members, company practices, and topics which shareholders will vote on at the upcoming shareholder meeting. Apple says that the next shareholder meeting will take place on February 28, 2014. Some interesting tidbits include that Apple’s board met seven times in 2013 with 75%+ attendance during each meeting. Additionally (to be voted on), a shareholder wants Apple to create a board committee related to human rights. Apple says that it is against this additional committee:

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company Stories April 24, 2013

An insightful Reuters blog by financial journalist Felix Salmon suggests that Apple’s surprisingly low share price may be due to the evolving nature of the company leaving it between two sets of investors.

Conservative investors, who like slow-growing stocks with high dividends, are constitutionally uncomfortable with the volatility inherent in the tech world. And technology investors, who are happy taking that kind of risk, want to see substantial growth. Apple, notwithstanding the fact that it’s one of the most valuable companies in the world, is falling through the capital-markets cracks.

Apple always used to be the company which surprised and delighted investors and customers alike. Its guidance to investors was deliberately pessimistic, blowing through those figures when it reported actual revenue and earnings. It was notoriously secretive about new products, launching new ones in a playful manner with Steve Jobs’ famous ‘One more thing‘ moments… expand full story

company Stories April 23, 2013

Update: AAPL blew away expectations.

At 4.30pm Eastern, Apple will report its Q2 results (and we’ll be covering it live). It’s the day when the last three months of analyst predictions and forecasts come home to roost.

Apple’s newly-realistic guidance revenue is $41b to $43b, with margins of 37.5 – 38.5 percent. These numbers would suggest earnings per share of just over $10 … expand full story

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