fortune Stories January 19, 2018

Apple last year hit a decade at the top of Fortune’s list of the world’s most admired companies, and it’s still in the same place in its 11th year.

Rival smartphone maker Samsung dropped out of the list last year over its exploding batteries, and hasn’t made it back in this year …

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fortune Stories July 22, 2015

Apple again lands behind Samsung at #15 on Fortune Global 500 list, #2 by profit

Fortune is out with its latest Global 500 today ranking the world’s largest 500 companies by revenue and Apple has once again landed at #15 on the list. Apple comes in behind #1 Wal-mart, a long list of petroleum companies, Volkswagen, Toyota, and #13 Samsung.

After a bumpy start to 2014, Apple’s stock finished the year up 40%, adding nearly $200 billion to the company’s market value. A product pipeline that’s gotten Apple fanboys lining up all over again has certainly helped reenergize revenue growth: In addition to unveiling new categories like Apple Pay and Apple Watch, the company launched the iPhone 6, selling a record-breaking 10 million units in the first three days. As CEO Tim Cook recently told investors: “It’s tough to find something in the numbers not to like.” The normally low-profile Cook is breaking new ground in other ways too–in October, 2014 he came out as the first openly gay CEO of a Fortune 500 company.

In Fortune’s calculations, which account for total revenues for the fiscal year that ended before March 31, 2015, Apple came in with almost $183 billion in revenue, compared to around $195 billion for Samsung and $485 billion for #1 on the list, Walmart. Apple, however, comes in at #2 on the list when filtering by profit with $39.5 billion compared to $44.7 billion for the #1 company by profit, Industrial & Commer. Bank of China. Other tech companies coming in behind Apple for profit include Microsoft at #8 with $22 billion and Samsung at #9 with $21.9 billion in profit.

The new Fortune 500 Global list follows Apple’s Q3 2015 earnings report yesterday where the company reported record revenue for several products, hinted at over $1 billion in Apple Watch sales, and crossed the $200 billion in cash mark for the first time.

fortune Stories July 15, 2015

Apple executives don’t often make appearances at tech industry events, but the company’s Global Human Resources Chief Denise Young Smith this week sat down for a discussion at the Fortune Brainstorm Tech conference.

During the interview, Smith talked mostly about diversity at Apple and noted the company would release its second report disclosing data on the subject later this year. Smith’s role expanded to head of human resources for the whole company back in February last year after previously leading HR for Apple’s retail operations, and since has been the face of many of Apple’s diversity related initiatives and announcements. Last August, Apple for the first time released diversity data while stepping up initiatives to include employee events celebrating and promoting diversity. It also announced $10K Inclusion and Diversity scholarships last year for minorities in tech. expand full story

fortune Stories April 27, 2015

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With Apple set to reveal its fiscal Q2 earnings after market close today, analysts are expecting double-digit year-over-year growth in all categories except iPads. Fortune‘s roundup says that analysts predict revenue of $56.84B, up a massive 24.5% year-over-year, and above the top end of Apple’s $52-55M guidance. Earnings per share is predicted to be $2.21, up a third on the previous year, with gross margin just shy of Apple’s top-end guidance at 39.4%.

Double-digit growth is expected in both iPhones and Macs. For iPhones, the prediction includes sales just under 56M, 32.6% higher than the same quarter last year, while Mac sales are forecasted to hit 4.7M, 13.6% up on last year …  expand full story

fortune Stories December 2, 2014

Apple SVP Eddy Cue with Beats founders Dr Dre and Jimmy Iovine

Apple SVP Eddy Cue with Beats founders Dr Dre and Jimmy Iovine

In a new interview with Fortune, Apple’s SVP of Internet and Software Services Eddy Cue opened up about Apple’s ongoing ebooks litigation ahead of the company’s December 15th appearance before a federal appeals court. Apple formally appealed the ebooks antitrust ruling earlier this year after a judge ruled in favor of the Department of Justice in 2013 claiming that Apple conspired with ebook publishers to raise prices.

“We feel we have to fight for the truth,” says Cue. “Luckily, Tim feels exactly like I do,” he continues, referring to Apple CEO Tim Cook, “which is: You have to fight for your principles no matter what. Because it’s just not right.”

Earlier last month, U.S. District Judge Denise Cote approved a $450 million settlement under which Apple will not be forced to pay any fees if it wins the upcoming appeal. expand full story

fortune Stories November 13, 2014

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Fortune has somehow named Google CEO Larry Page its 2014 Business person of the Year beating out rival Apple CEO Tim Cook who earns the number 2 spot (despite stock prices) on Fortune’s list of 50 executives. expand full story

fortune Stories September 18, 2014

Apple SVP Angela Ahrendts added to Fortune’s Most Powerful Women in Business list

Leaving her role as CEO of Burberry to run Apple’s Retail and Online Stores division as senior vice president has garnered a lot of attention for Angela Ahrendts as Apple gears up for selling the Apple Watch starting next year. Today, Fortune’s 2014 list of the “Most Powerful Women in Business” has taken notice. Fortune writes:

Ahrendts may have given up a CEO title when she left Burberry to head Apple’s $20 billion retail operation, but her new role puts her more in the spotlight than ever. At Apple since May, she’s now key to the success of the company’s new watch.

Ahrendts has so far been readily welcomed by Apple’s Retail Store employees as she began her new role this year, and Fortune ranks her at #29 as her first entry onto the list. Who tops Fortune’s list of “Most Powerful Women in Business” this year? Ginni Rometty, who has her own ties to Apple now thanks to IBM’s newly announced partnership with the iPhone maker.

fortune Stories July 18, 2014

ipad

Someone once said that if you put three analysts in a room and ask them a question, you’ll get four different opinions. This certainly appears to be the case today, with Fortune finding no more consensus on iPad sales than it did on iPhone numbers.

Asked to predict how many iPad sales Apple will announce in next week’s Q3 earnings announcement, the overall average suggested year-on-year sales would be flat at 14.35M. However, no consensus view emerged …  expand full story

fortune Stories July 7, 2014

IFC Hong Kong Apple store facade

Yep, it’s that time of the quarter again, when we start hearing analyst predictions for Apple’s quarterly earnings. Asymco analyst Horace Dediu has just tweeted his, forecasting that Apple will hit $38.62B revenue, above the company’s guidance of $36-38M. Wells Fargo’s Maynard Um recently predicted $38.2B …  expand full story

fortune Stories April 18, 2014

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As highlighted by Fortune, analysts’ consensus on iPad sales for last quarter suggest that iPad sales will actually decline year-over-year by about 0.7%. Although the expected decline is small, this would represent a big shift in iPad momentum, especially since Apple saw a strong increase in sales for the holiday quarter, going from 22.9M units in the previous year to 26M this year.

If iPad sales have fallen, it wouldn’t be because of different market conditions to last year. Apple introduced the iPad Air at the end of 2014 around a year from the introduction of the iPad 4 at the end of 2012. Last year, Apple dropped the price of the iPad Mini a modest $30 while also introducing the highly anticipated retina iPad Mini. In 2012, it introduced the iPad mini. The product cycles are similar, so the decline isn’t due to any artificial inflation of sales last year.

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fortune Stories January 27, 2014

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When Apple reports its quarterly earnings later today, the news will be good, according to the consensus view of 47 Apple analysts compiled by Fortune.

Analysts are expecting the company to report earnings of $58.1B for the final quarter of last year (Apple’s fiscal quarter 1), representing 4 percent earnings growth over the same quarter last year. This would be right at the top end of Apple’s guidance of $55-58B, and the first time in a year that Apple would have reported year-on-year growth …  expand full story

fortune Stories November 21, 2013

Angela-Ahrendts

Fortune is out today with its annual Businessperson of the Year list and this time around a couple notable Apple connections have made the list. Coming in at #4 behind #1Elon Musk, activist investors, and Tencent CEO ‘Pony’ Ma Huateng, is Apple’s recently hired Head of Retail, Burberry CEO Angela Ahrendtsexpand full story

fortune Stories July 17, 2013

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With Apple’s Q3 2013 financial call set to take place later this month on July 23rd and Wall Street expecting near zero revenue growth, today we get a look at what analysts are expecting for iPad sales. With no major product announcements since the  introduction of iPad mini and iPad 4 last fall (and only a minor upgrade with the 128GB iPad 4 in January), it’s not all that surprising the consensus from 48 analysts polled by Fortune is that Apple will experience a big drop in growth year-over-year for iPad during the June quarter.

The average estimate of 18.1 million iPad units during Q3 works out to around 6.2% growth compared to 183% and 84% in Q3 2011 and Q2 2012, which some might still consider significant due to the lack of new product announcements and competition from Android tablets: expand full story

fortune Stories May 9, 2013

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Yesterday we decided not to run with a story published by Bloomberg that Pegatron’s forecasted 25 percent to 30 percent drop for second-quarter revenue was due to “falling iPad mini demand.” It seemed a little far fetched that an Apple supplier would be giving up specific information on product demand, something we know suppliers in Apple’s circle typically remain tight-lipped on. Today CEO of Pegatron Jason Cheng has confirmed our suspicions in an email to Fortune claiming that Bloomberg reporter Tim Culpan made the iPad mini angle up.

While quoting an analyst’s expectations for iPad mini demand in Q2, Bloomberg’s Tim Culpan offered the following quote from Pegatron Chief Executive Officer Jason Cheng as proof:

A decline in revenue from the iPad Mini “is more on demand, while price has been stable. Not just tablets, also e-books and games consoles, almost every item is moving in a negative direction.”

Pegatron chief Jason Cheng says he wasn’t referring to iPad mini specifically, but rather all of its products including all tablets and game consoles, while noting that “clearly refused” to answer Culpan’s questions related to specific products. Here’s what he had to say about the Bloomberg piece: expand full story

fortune Stories May 6, 2013

fortune-500-cover-magazine-2013 Apple-Fortune-500-2013-No-6Fortune is out today with its annual FORTUNE 500 list ranking the largest corporations in the U.S. by revenue for fiscal 2012 (before expenditures). This year Apple, for the first time, has finally cracked the top 10 of Fortune’s list rising from its 17th place position last year to No. 6 on this year’s list. It’s still well behind Wal-Mart at No.1, as well as Exxon Mobil, which Apple happened to briefly surpass Apple’s market cap back in January to become the world’s most valuable company.

As for tech companies on the list, Facebook just barely made the Fortune 500 for the time this year coming it at number 482, while others include AT&T at No. 11, HP at No. 15, Verizon at No. 16, Microsoft at No. 35, and Amazon at No. 49.

Head below for the top 10 list and check out the full Fortune 500 hereexpand full story

fortune Stories October 17, 2012

Supply shortages notwithstanding, 59 analysts predict 26.3M (mean) iPhones sold in Q4

Apple has been selling iPhone 5’s as fast as they can make them since its mid-September launch. However, pre-order delays and retail shortages related to manufacturing troubles meant Apple was a little shy of the 10 million units predicted by analysts for opening weekend. We know Apple sold at least 5 million iPhone 5 units during the first three days of its retail launch starting Sept. 21. With a slow start and strong finish to the quarter ending on Sept. 29, today we get estimates from 59 analysts predicting iPhone sales for Q4 courtesy of Fortune. Apple is set to announce earnings for Q4 later this month on Oct. 25.

The average of the group is 26.3 million units, just slightly over the 26 million Apple sold in Q3 2012 (pros in blue, amateurs in green):

fortune Stories October 9, 2012

Former GE CEO Jack Welch uses an iPad to conduct business

Here is an interesting ‘footnote’ to this story on former GE CEO Jack Welch leaving Fortune Magazine, quitting over his harsh anti-Obama jobs Tweet coverage:

Apparently, the 20-year CEO and Chairman of GE conducts business on his iPad. So, there’s another notch in the “iPad is only for consumption” coffin.

fortune Stories May 2, 2012

Following Apple’s CEO Tim Cook selling off approximately 20,000 shares of company stock in March, new filings with the U.S. Securities and Exchange commission discovered by Fortune’s Philip Elmer-Dewitt show iOS chief Scott Forstall recently sold 64,151 shares worth roughly $38.7 million:

The shares were the remains of a 120,000-share retention bonus that was granted in 2008, vested last month and reduced by 55,849 shares on March 24 to pay taxes. Forstall still holds 2,988 Apple shares worth, at Friday’s closing price, $1.8 million.

Many reported the over 64k shares sold by Forstall represent 95 percent of his current holdings in Apple Inc. However, that is not entirely true, because two new retention bonuses are coming his way in in the years ahead. Those shares could be worth over quarter billion dollars—if Apple continues increasing closer to the $1,000 per share target that many analysts are expecting.

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fortune Stories January 29, 2012

Fortune’s Phillip Elmer-DeWitt pointed us to an hour long interview and Q&A session at LinkedIn headquarters with “Inside Apple” author Adam Lashinsky.

The interview is conducted by our former boss and current LinkedIn Executive Editor Dan Roth.  As PED noted, one of the more notable exchanges is with a former Apple employee who thought CEO Tim Cook is charismatic enough to be the United States President.  See the clip below (plus another interview this week at Davos).

Interestingly, the former Apple Engineer discusses how his friends at Apple were put on dummy projects until they could be trusted.

Buy the book at Amazon here or free at Audible. expand full story

fortune Stories January 18, 2012

Fortune just published a long, fascinating excerpt from an upcoming book about Apple called “Inside Apple: How America’s Most Admired and Secretive Company Really Works by author Adam Lashinsky, Fortune’s senior editor-at-large. It reveals how far the company is willing to go to ensure its secretive culture. It also tells a tale of Apple’s organizational structure and what makes them tick. Interestingly, Lashinsky writes that Apple’s design guru Jonathan Ive is among the “untouchables,” corroborating claims laid out in the official Jobs biography book by Walter Isaacson. Apple’s late CEO told his biographer that he made sure nobody can touch his “spiritual partner” Ive at Apple. “That’s the way I set it up,” he told Isaacson. Speaking of Apple’s famous culture of secrecy and lack of corporate transparency (at Apple, everything is a secret!), Lashinsky writes it takes two basic forms —external and internal. Needles to say, many employees can hardly stomach security policies focused on preserving internal secrets:

Apple employees know something big is afoot when the carpenters appear in their office building. New walls are quickly erected. Doors are added and new security protocols put into place. Windows that once were transparent are now frosted. Other rooms have no windows at all. They are called lockdown rooms: No information goes in or out without a reason.

As you could imagine, this is “disconcerting” for employees. Organization charts are nowhere to be seen at Apple. There are no open doors as folks use badges to access areas that sometimes even their boss cannot. Only few people at Apple are allowed into Jonathan Ive’s industrial design bunker. People working on hot projects are required to sign “extra-special agreements acknowledging that you were working on a super-secret project and you wouldn’t talk about it to anyone – not your wife, not your kids.” Even former employees do not talk to press and some were reprimanded for talking too much. Apple goes to great lengths to prevent secrets from leaking and maintain discipline culminates with carefully orchestrated media events akin to a blockbuster Hollywood movie-opening weekend.

People working on launch events will be given watermarked paper copies of a booklet called Rules of the Road that details every milestone leading up to launch day. In the booklet is a legal statement whose message is clear: If this copy ends up in the wrong hands, the responsible party will be fired.

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fortune Stories January 9, 2012

An interesting occurrence happened this morning: In a run up to Apple’s Q1 2012 earnings call, and amid a steady flow of 2012 Consumer Electronics Show announcements where Apple traditionally does not exhibit, the company’s share reached an all-time high by passing $427 a share for a market valuation of $398 billion (Exxon Mobile is at $408.86 billion). As noted by Fortune’s Philip Elmer-Dewitt, the company passed the $426.70 mark it hit briefly one day in mid-October

Interestingly, several analysts boosted their iPhone estimates for the December quarter. Goldman most notably upped their iPhone estimate to 31 million quarterly units, up from the previous 30.2 million estimate. Needham significantly increased their previous 28 million units projection to 32 million units.

By the way, the Apple iPhone turned 5-years-old today. On this very day five years ago, Steve Jobs took the stage at MacWorld Expo to announce the original iPhone. The rest, as the saying goes, is history…

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fortune Stories November 28, 2011

When author of the official ‘Steve Jobs’ bio, Walter Isaacson, sat down for an interview with Fortune earlier this month, we learned that Steve Jobs had three key industries he wanted to reinvent: the television, textbooks, and photography. We’ve certainly heard a lot of rumors about an iTV in the works, and Apple has arguably already done a lot for the textbook business, despite Jobs having loftier goals for the industry as a whole. While the iPhone 4S’s redesigned camera might be good enough to get an endorsement from photographer Annie Leibovitz, the guys at ADR Studios have created this new ‘iCam’ concept imagining a separate accessory that would turn the iPhone 5 into a full-fledged point-and-shoot.

Keeping rumored iPhone 5 specs in mind, ADR’s concept would include a 10.1 megapixel sensor and provide an “ISO range from 100 to 3200 (extendable up to 6400 equivalent)” for full HD at 60fps. Imagined specs for the accessory include an aluminum unibody, interchangeable lenses, a small touch-screen on the front, LED flash, pico-projector, SD UHS-i slot, motion sensor, and bluetooth. We’re guessing a few companies are already at work on a similar accessory after seeing these gorgeous mock ups.

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fortune Stories October 20, 2011

60 Minutes preview with Walter Isaacson touches on cancer treatment

The blurb from CBS seems to eerily echo a Quora post by a Harvard Cancer Doctor Ramzi Anri that basically said that his cancer was mild and treatable but spread while he was trying to treat it holistically. While Mr. Jobs was trying all sorts of alternative [medicine] his tumor grew, and grew, and grew… […]

fortune Stories September 27, 2011

Fortune releases ‘All About Steve’

Fortune just released a new Kindle eBook entitled All about Steve: The Story of Steve Jobs and Apple from the Pages of Fortune… Steve Jobs’ legacy is clear: The most innovative business leader of our time, the man FORTUNE named CEO of the Decade in 2009. Now from the pages of FORTUNE comes an anthology […]

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