Financials Stories April 29, 2015

Apple's European HQ in Cork, Ireland

<a href="http://www.businessinsider.com/r-irish-tax-changes-may-cost-us-groups-billions-2014-10">Apple’s European HQ in Cork, Ireland</a>

Following its announcement of record Q2 earnings, Apple published its quarterly 10-Q report, providing more in-depth details about finances. Notably, the company warns of the possibility of “material” back taxes due to the company’s well-documented favorable tax arrangements with Ireland.

On June 11, 2014, the European Commission issued an opening decision initiating a formal investigation against Ireland for alleged state aid to the Company. The opening decision concerns the allocation of profits for taxation purposes of the Irish branches of two subsidiaries of the Company. The Company believes the European Commission’s assertions are without merit. If the European Commission were to conclude against Ireland, the European Commission could require Ireland to recover from the Company past taxes covering a period of up to 10 years reflective of the disallowed state aid. While such amount could be material, as of March 28, 2015 the Company is unable to estimate the impact.

Apple will need to pay the fines if the European Commission, which is akin to the U.S.’s SEC, rules that Ireland granted Apple special privileges for reduced taxes. As the European Commission has not made any formal rulings on the fine, Apple says it could not estimate the impact. However, the Financial Times pegs the potential payments at $2.5 billion based on Apple’s current rate of profits.

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Financials Stories February 23, 2015

$AAPL stock continues to break records, hits new all-time high of $130.75 (closes $133.00)

 

Update: The stock closed at another all-time high of $133.00, with $761 billion market cap.

Despite being the largest company in the world ever by market cap, Apple’s stock price continues to climb upwards. Today, it hit a new all time high of $130.75, with a market cap of almost $760 billion dollars, at time of writing. This represents a 0.96% gain over the stock’s market open.

Financials Stories January 7, 2015

Worldwide smartphone sales data from Kantar shows that strong iPhone 6 sales helped Apple achieve market share gains in all but one of the nine countries surveyed. iOS increased its market share in the US, UK, China, Australia, Germany, France, Italy and Spain – with Japan the sole exception.

In the US, Apple’s share of the smartphone market jumped 4.3% year-on-year in the three months ending in November to 47.4%. No surprise that the iPhone 6 was the best-selling phone in the country, capturing 19% of all smartphone sales …  expand full story

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