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☆ Apple reaches $490 million settlement over Tim Cook's China sales comments
▼ + stars: | 2024-03-15 | by ( ) www.cnbc.com time to read: +2 min

Tim Cook, chief executive officer of Apple Inc., speaks during the Apple Worldwide Developers Conference at Apple Park campus in Cupertino, California, US, on Monday, June 6, 2022. Apple has reached a $490 million settlement to resolve a class-action lawsuit that alleged Chief Executive Tim Cook defrauded shareholders by concealing falling demand for iPhones in China. A preliminary settlement was filed on Friday with the U.S. District Court in Oakland, California, and requires approval by U.S. District Judge Yvonne Gonzalez Rogers. Apple posted $97 billion of net income in its latest fiscal year, and its payout equals a little under two days of profit. The case is In re Apple Inc Securities Litigation, U.S. District Court, Northern District of California, No.

Persons: Tim Cook, Yvonne Gonzalez Rogers, Cook, Shawn Williams, Rogers, Apple Organizations: Apple Inc, Apple Worldwide, Apple, U.S, Norfolk Pension Fund, Apple Inc Securities Litigation, Court, Northern District of Locations: Cupertino , California, China, Oakland , California, Brazil, India, Russia, Turkey, Norfolk, Norwich, England, Northern District, Northern District of California

☆ Apple will allow iPhone app downloads from websites in Europe
▼ + stars: | 2024-03-12 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

IPhone users in the European Union will be able to download apps from websites, instead of through the App Store or a competing app store app, Apple said, in the the latest change forced by the European Commission's Digital Markets Act. Tuesday's announcement is the latest example of the Digital Markets Act forcing Apple to make long-resisted changes to its App Store business processes. Under the DMA, Apple has been forced to allow third-party app stores in Europe, has reinstated antitrust adversary Epic Games' developer account amid a legal dispute, and has backtracked on banning web app shortcuts on the main iPhone screen. Apple still plans to charge a fee of fifty Euro cents for app downloads outside of its App Store, including web app downloads. The company has said Europe represents about 7% of Apple's App Store revenue.

Persons: Tim Cook, Apple, Margrethe Vestager, Vestager Organizations: Apple Inc, Apple Worldwide Developers, European Union, Commission's, Apple, Digital, Epic Games, Commission, European Commission, Spotify, EU, CNBC Locations: San Jose , California, U.S, European, Europe, iPhones

☆ Here's what Apple had to change as a result of the Epic Games legal battle
▼ + stars: | 2024-01-16 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

Apple changed the rules of its U.S. App Store on Tuesday in what appears to be the final result from the long-running Epic Games antitrust challenge against Apple. The shift is the most tangible result from Epic Games' legal challenge to the App Store. However, it doesn't go far enough for Epic Games CEO Tim Sweeney, he said in a statement on Tuesday. "The court battle to open iOS to competing stores and payments is lost in the United States," Epic Games CEO Tim Sweeney said. You will be responsible for addressing such issues with customers," Apple said in the email.

Persons: Tim Cook, Apple, Tim Sweeney, Sweeney Organizations: Apple Inc, Apple Worldwide Developers, Apple, U.S, Supreme, Epic Games, Epic Locations: San Jose , California, U.S, United States, Netherlands, South Korea

☆ Shares of red-hot Apple and Nvidia have hit rough patches. Here's what we think is happening
▼ + stars: | 2023-08-10 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +6 min

.SPX AAPL,NVDA 1M mountain The S & P 500's performance over the past month compared with Apple and Nvidia. Despite initially trading modestly higher Thursday morning, Apple and Nvidia shares steadily lost ground into the afternoon in lockstep with the market. They popped a bit with the S & P 500 's brief move positive just before 2 p.m. AAPL YTD mountain Apple YTD performance In our minds, the iPhone maker's results were impressive – led by a record $21.2 billion in high-margin Services revenue. NVDA YTD mountain Nvidia YTD performance Nvidia's stock chart may get worse before it gets better.

Persons: Jim, SPX, we'll, Apple's, hasn't, Morgan Stanley, Larry Williams, Williams, We're, Jim Cramer's, Jim Cramer, Tim Cook, Justin Sullivan Organizations: Apple, Nvidia, Computer, Financial Times, Club, CNBC, Apple Worldwide Locations: Plenty, lockstep, Cupertino , California

☆ Apple opens Vision Pro headset applications for developers, but they can't talk about it
▼ + stars: | 2023-07-24 | by ( Kif Leswing | ) www.cnbc.com time to read: +2 min

Apple CEO Tim Cook stands next to a new Apple Vision Pro headset displayed during the Apple Worldwide Developers Conference in Cupertino, California, June 5, 2023. Apple opened up Vision Pro developer kit applications on Monday, ahead of a planned 2024 launch for the $3,499 headset. The device is a loan, not a sale, and it will remain Apple property to be returned after the Vision Pro headset launches. Apple revealed the Vision Pro, its new virtual reality product that the company says is its first "spatial computer," in June. Apple is interested in developers porting VR apps from other platforms and building new apps just for the Vision Pro.

Persons: Tim Cook, it's, It's Apple's, Apple Organizations: Apple, Apple Vision, Apple Worldwide, Conference, Vision Pro, Pro, Apple Watch, Vision Locations: Cupertino , California, London, Shanghai, Tokyo

☆ Tech stocks close out best first half in 40 years, powered by Apple rally and Nvidia boom
▼ + stars: | 2023-06-30 | by ( Ari Levy | ) www.cnbc.com time to read: +3 min

Apple CEO Tim Cook stands next to the new Apple Vision Pro headset is displayed during the Apple Worldwide Developers Conference on June 05, 2023 in Cupertino, California. The last time technology stocks had a better first half, Apple was touting its Lisa desktop computer, IBM was the most-valuable tech company in the U.S. and Mark Zuckerberg hadn't been born. It's a startling achievement, given what's happened in the tech industry over the past four decades. Meta and Tesla , which both got hammered last year, have more than doubled in value so far in 2023. Nvidia shares soared 190% in the first half, lifting the 30-year-old company's market cap past $1 trillion.

Persons: Tim Cook, Apple, Mark Zuckerberg hadn't, Zuckerberg, Tesla, OpenAI, Bryn Talkington, CNBC's Organizations: Apple, Apple Vision, Apple Worldwide, IBM, Nasdaq, Microsoft, Silicon Valley Bank, Federal Reserve, Meta, Facebook, Google, Nvidia, Capital Management Locations: Cupertino , California, U.S

☆ Stocks making the biggest moves midday: Apple, Meta Platforms, Carnival, Nike and more
▼ + stars: | 2023-06-30 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

In this photo illustration, the 2023 Apple Worldwide Developers Conference (WWDC 23) logo is displayed on a smartphone screen. Check out the companies making headlines in midday trading Friday. Citi also slapped a $240 price target on the stock, the highest on the Street. SolarEdge — The solar stock rose 3.3% after Bank of America raised its price target to $396 from $379. Bright Health Group — Shares added 2.6% in midday trading after the health insurer announced a deal to sell its California Medicare Advantage business to Molina Healthcare for roughly $600 million.

Persons: Goldman Sachs, Xpeng, —, Alex Harring, Tanaya Macheel, Sarah Min Organizations: Developers, Apple —, Citi, Journal, SEC, BlackRock, Pacific Biosciences, Bank of America, Bright Health, Molina Healthcare, Nike —, Nike, Markets Authority, Jefferies Locations: Thursday's, California

☆ Tim Cook bets his legacy on augmented reality
▼ + stars: | 2023-06-13 | by ( Clare Duffy | ) edition.cnn.com time to read: +11 min

David Paul Morris/Getty Images Cook speaks in front of an image of an iPhone 4S at Apple headquarters in 2011. Yui Mok/PA Images/Getty Images Tim Cook puts on a Boston Red Sox jersey before a baseball game between the Red Sox and the Detroit Tigers in June 2017. Justin Sullivan/Getty Images Tim Cook signs the box of a new iPhone X at an Apple Store in Palo Alto in November 2017. Andrew Harrer/Bloomberg/Getty Images Cook speaks via video conference at a House Judiciary subcommittee hearing on online platforms and market power in July 2020. In pictures: Apple CEO Tim Cook Prev NextFollowers of the company are divided on what the headset could ultimately mean for Cook.

Persons: Tim Cook, Steve Jobs, Cook, It’s, … it’s, ”, Margaret O’Mara, Andrew Burton, Phil Schiller, Jobs, David Paul Morris, Apple, Tom Williams, Marcio Jose Sanchez, Bono, Justin Sullivan, Tony Avelar, Stephen Lam, George Washington University's, Alex Brandon, Stephen Colbert, Jeffrey R, Pope Francis, Shutterstock Cook, Maddie Ziegler, AirPods, Monica Davey, James Corden, Pharrell, Beck Diefenbach, Reuters Cook, Yui Mok, Billie Weiss, Donald Trump, Jonathan, Oprah Winfrey, Win McNamee, Theresa Goh, Edgar Su, Andrew Harrer, Graeme Jennings, Noah Berger, Sajid Moinuddin, India's, Francis Mascarenhas, Brooks Kraft, it’s, Mike Bailey, “, Tim Bajarin, ’, ” Bajarin, Bajarin, they’ll Organizations: New, New York CNN, Apple, Vision, Apple Watch, University of Washington, Washington Post, Getty, Reuters, Alamy, Homeland Security, Governmental, Flint Center, Performing Arts, Cook, CBS, Serviziofotograficoor, Primary School, Boston Red Sox, Red Sox, Detroit Tigers, American Technology, White House, Steve Jobs Theatre, Carnegie Library, Central Public Library, Bloomberg, Singapore, Apple Worldwide, Conference, Epic Games, Apple Inc, FBB Capital Partners, Jobs Locations: New York, Cupertino , California, Cupertino, Palo Alto , California, Palo Alto, San Francisco, Down, London, Washington , DC, Oakland , California, Mumbai

☆ CNBC Daily Open: Tech is loving the possible rate pause
▼ + stars: | 2023-06-13 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Hopes for a pause in interest rates helped to send stocks higher Monday. (Higher rates today lower the value of tech's growth tomorrow.) Big Tech stocks mostly rose at least 1%; Apple even hit an all-time high of $183.79 per share. On an average day, 80.6 million shares of the SPDR S&P 500 ETF Trust, a tracker of the broad S&P 500 index, are traded.

Persons: Tim Cook, Mark Zandi, Oracle's, That's Organizations: Apple Inc, Apple Vision, Apple Worldwide, Apple, CNBC, Traders, Federal Reserve, Moody's Analytics, Big Tech, Nasdaq, Dow Jones, Trust, Tech Locations: Cupertino , California, That's

☆ Opinion: This Trump indictment will change history. The question is how
▼ + stars: | 2023-06-11 | by ( Jane Carr | Opinion Jane Greenway Carr | ) edition.cnn.com time to read: +17 min

We’re looking back at the strongest, smartest opinion takes of the week from CNN and other outlets. “Big Brother” is a fierce indictment of a power structure that surveils and oppresses while poverty and suffering proliferate. Clay Jones“Next year will mark 50 years since President Richard Nixon resigned as a result of the Watergate scandal. And yet, “Trump denies any and all wrongdoing and continues to remain the leader of the pack. “When former President Donald Trump took office in 2017, he left the rules in place.

Persons: CNN —, ”, Philippe Petit, Henri Matisse, Petit, Stevie Wonder, Jackson, Richard Nixon, —, interjected, “, Donald Trump, Clay Jones “, Julian Zelizer, “ Trump, Trump, Norman Eisen, Jack Smith, Eisen, Barack Obama’s, ” Eisen, Jennifer Rodgers, Ron DeSantis, Mike Pence, Chris Christie, Vivek Ramaswamy, Robert F, Kennedy Jr, Cornel West, Cupp, –, John Avlon, …, Avlon, Pence, televangelist Pat Robertson, Nicole Hemmer, “ Long, Robertson, Robertson “, David Mark, Geoff Duncan, Jason Lancaster, Kirsi Goldynia, Virginia Sole, Smith, ’, demonize fatness, Nick Anderson, Tess Taylor, Laura Schifter, Taylor, Marc Eichenbaum, Michael Nichols, “ Houston, Lawrence Downes, ” Eric Adams, ” —, ” Downes, Ellis, Evgeniy, it’s, Frida Ghitis, Reinhold Matay, Aaron David Miller, LIV, ” Miller, Octavio Jones, Jill Filipovic, ” Filipovic, Allison Hope, Justin Sullivan, Peter Bergen, Biden, Afghanistan Ana Homayoun, Amy Bass, Rose Zhang, Marty Irby, I’m, Britain's Prince Harry, Duke of Sussex, Hannah McKay, Reuters Prince Harry, Queen Victoria’s, King Edward VII, Harry, Prince Harry, Holly Thomas –, Thomas Organizations: CNN, GOP, Republican, Trump, Florida Gov, New, New Jersey Gov, Getty, Former New Jersey Gov, Adobe, Tribune, East Coasters, …, The, Democratic, Ukraine Ukrainian, Orange County National, USA, Sports, PGA, Saudi, Hillsborough High School, Reuters, Human Rights, Apple Vision, Apple Worldwide Developers, Court, Daily Locations: Manhattan, Florida, New Jersey, Pence’s, Washington ,, ” Houston, “, Texas, Chicago , New York, Sacramento, New York, New York City, White, Ukraine, Kherson, Russia, Nova, Orlando , Florida, USA, Saudi Arabia, Tampa , Florida, U.S, United States, Cupertino , California, Afghanistan, London, England, British, Botswana

☆ Apple Vision Pro: Impressive specs, new way of interacting could help it break the VR curse
▼ + stars: | 2023-06-09 | by ( Kif Leswing | ) www.cnbc.com time to read: +11 min

The Apple Vision Pro is significantly more powerful than nearly all competing products on the market. Huge specsThe new Apple Vision Pro headset is displayed during the Apple Worldwide Developers Conference on June 05, 2023 in Cupertino, California. A new interfaceApple Vision Pro Source: AppleJust as the iPhone did, the Apple Vision Pro introduces a new kind of user interface. Apple Vision Pro Source: AppleEye tracking often uses small sensors to see where the user's gaze is resting. The Apple ecosystemApple CEO Tim Cook stands next to the new Apple Vision Pro headset.

Persons: what's, Inbar, Tipatat Chennavasin, Apple, Justin Sullivan, Avi Greengart, Chennavasin, Jamin Hu, Steve Kovach, Hu, Mac, Tim Cook, Sean Mann, Greengart, Mann Organizations: Apple, Engineers, University of Utah, Nintendo, Microsoft, Meta, Google, Sony, Nvidia, Fund, Superventures, Venture, Apple Vision, Apple Worldwide, Apple Vision Pro, Vision, Getty Locations: Cupertino , California, Apple's, iPhones

☆ Apple's Vision Pro will use machine learning to turn you into a digital avatar while you're FaceTiming
▼ + stars: | 2023-06-07 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Apple's Vision Pro will let users make a digital avatar so they can have more realistic video chats. The tech giant said it uses "advanced machine learning," a form of AI, to represent movements. Apple's Vision Pro headset will let users create a digital avatar so they can have more realistic video chats while their face is partially covered. The tech giant said it uses "advanced machine learning" to represent a user's face and hand movements realistically during FaceTime chats. The CEO later posted a more advanced version of the avatar on Instagram in an apparent reaction to the criticism.

Persons: Mike Rockwell, Mark Zuckerberg, Zuckerberg Organizations: Apple, Morning, Apple Worldwide, Apple's, Eiffel, Facebook

☆ CNBC Daily Open: Apple fails to impress
▼ + stars: | 2023-06-06 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

The new Apple Vision Pro headset is displayed during the Apple Worldwide Developers Conference on June 05, 2023 in Cupertino, California. This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Apple's shares lost momentum and ended the day lower. And even though Apple's augmented-reality headset promises to make apps three-dimensional, the tech-heavy Nasdaq Composite was essentially flat.

Persons: Binance, Bitcoin, — Organizations: Apple Vision, Apple Worldwide, CNBC, Worldwide Developers, Apple, SEC, Dow Jones, Nasdaq Locations: Cupertino , California

☆ I tried Apple’s new headset. Here’s what it’s like to use
▼ + stars: | 2023-06-06 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +8 min

The headset blends both virtual reality and augmented reality, a technology that overlays virtual images on live video of the real world. The new Apple Vision Pro headset is displayed during the Apple Worldwide Developers Conference on June 05, 2023 in Cupertino, California. Apple CEO Tim Cook kicked off the annual WWDC23 developer conference with the announcement of the new Apple Vision Pro mixed reality headset. During another demo, an Apple employee wearing a Vision Pro headset FaceTimed me from the other side of campus. The Vision Pro has the potential to do all of that in an even more striking way.

Persons: I’d, Alicia Keys, Tim Cook, Apple, Justin Sullivan, “, Alan Dye, else’s, ”, Cook, Bob Iger Organizations: CNN, Apple, Apple Vision, Apple Worldwide, Vision Pro, Vision, Hollywood, Disney, Geographic, Marvel, ESPN, Apple Watch Locations: Cupertino , California

We also see knock-on benefits for rival Club name Meta Platforms (META), which unveiled its latest headset last week. Overall, Vision Pro, which debuted at Apple's annual Worldwide Developers Conference Monday, should prove to be a net win for the Club portfolio. The stock market appears to be less impressed, with Apple stock under pressure since CEO Tim Cook presented the new devic e in a pre-recorded presentation Monday. Implications for Meta Vision Pro shouldn't be seen as a detriment to Meta's products , which currently dominant the AR/VR headset market. Apple CEO Tim Cook stands next to the new Apple Vision Pro headset is displayed during the Apple Worldwide Developers Conference on June 05, 2023 in Cupertino, California.

Persons: Tim Cook, it's, We're, Goldman Sachs, Davidson, That's, Jim Cramer, Morgan Stanley, Jim Cramer's, Jim, Justin Sullivan Organizations: Apple, holding's, Apple Watch, Club, Meta, Vision, Developers, Pro, D.A, Bank of America, IDC, Meta Vision, Unity Software, CNBC, Apple Vision, Apple Worldwide Locations: Cupertino , California

☆ Meta's heated rivalry with Apple enters new phase as the tech giants go after headsets
▼ + stars: | 2023-06-05 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +5 min

But Apple hasn't said exactly when Vision Pro will be available, only that it will be early next year. Meta's Quest family of VR headsets include the $300 Quest 2 and the $500 Quest 3, which will be available in the fall. Apple CEO Tim Cook stands next to the new Apple Vision Pro headset is displayed during the Apple Worldwide Developers Conference on June 05, 2023 in Cupertino, California. And Apple has its own new operating system for the Vision Pro that it's calling visionOS. "And we believe Apple Vision Pro is a revolutionary platform that can make our vision a reality."

Persons: Mark Zuckerberg, Michael Nagle, Leo Gebbie, hasn't, Zuckerberg, Cook, Tim Cook, Justin Sullivan, visionOS, Bob Iger, Iger, We're, Meta didn't Organizations: Meta, Inc, Bloomberg, Getty, CCS, Vision, VR, Labs, Apple, Google, Facebook, Apple Vision, Apple Worldwide, Disney Locations: New York, Covid, Cupertino , California, Brussels

☆ Here are the most important new changes coming to your iPhone this fall
▼ + stars: | 2023-06-05 | by ( Hayden Field | ) www.cnbc.com time to read: +4 min

Justin Sullivan | Getty ImagesAt its annual developers conference Monday, Apple debuted iOS 17 and the slew of updates it will bring to iPhones everywhere later this year. Live transcription will be coming for phone voicemails, so users don't have to listen to get the message. Group chat hacks and voice note transcriptionIf you're the notorious flake in group chats, iOS 17 has an important feature for you. You can go beyond the normal emoji and now use your own photos to create reactions, including animated stickers from Live Photos. For those who like to overshare on voice messages, iOS 17 is delivering automatic transcriptions.

Persons: Tim Cook, Justin Sullivan, Apple, Craig Federighi, Apple's Organizations: Apple Worldwide, Apple, Apple Watch Locations: Cupertino , California

☆ Apple CEO Tim Cook explains why people might want a mixed reality headset
▼ + stars: | 2023-04-03 | by ( Rohan Goswami | ) www.cnbc.com time to read: +2 min

Apple CEO Tim Cook poses for a portrait next to a line of new MacBook Airs as he enters the Steve Jobs Theater during the Apple Worldwide Developers Conference (WWDC) at the Apple Park campus in Cupertino, California on June 6, 2022 . Apple CEO Tim Cook recently explained in an interview with GQ why people might want the sort of mixed reality headset his company is expected to announce in the coming months. In short: art, communication, "creative" applications, and corporate environments, Cook told GQ. "The idea that you could overlay the physical world with things from the digital world could greatly enhance people's communication, people's connection," Cook told GQ. Meta has struggled to find success with its virtual reality business, called Reality Labs.

☆ Apple's own execs are split on whether the company should make smart goggles. Experts say if Apple can't make smart glasses happen, no one can.
▼ + stars: | 2023-03-30 | by ( Asia Martin | ) www.businessinsider.com time to read: +5 min

Apple is reportedly introducing its Reality Pro smart goggles in June. Experts say the goggles may not be a smash success, but if anyone can make it work, it's Apple. Earlier this week, The New York Times reported that a rare wave of dissent made its way into the team behind Apple's mixed-reality smart goggles, called Apple Reality Pro. Apple Reality Pro will have a wow-factor to it because it's had time to improve upon the foundations laid by its competitors. The virtual reality headset market was worth $7.7 billion in 2022, according to a report by Grandview Research.

☆ Tim Cook gives clearest hint yet that Apple's building a headset
▼ + stars: | 2022-06-22 | by ( Todd Haselton | ) www.cnbc.com time to read: +2 min

Apple CEO Tim Cook poses for a portrait next to a line of new MacBook Airs as he enters the Steve Jobs Theater during the Apple Worldwide Developers Conference (WWDC) at the Apple Park campus in Cupertino, California on June 6, 2022 . Apple CEO Tim Cook recently gave the closest thing to a confirmation that Apple's building a headset. Cook was asked in a recent interview with China Daily USA what he thinks the key factors are for augmented reality, or AR, to succeed in the consumer market. AR or "mixed reality" describes technology that superimposes computer-generated images over views of the real world, contrasted with virtual reality, or VR, which completely immerses the viewer in a computer-generated world. It's one of the clearest examples yet of Cook acknowledging that Apple has something bigger in the works.

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