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☆ Apple CEO Tim Cook made $63 million last year — here's how that breaks down
▼ + stars: | 2024-05-03 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

Apple CEO Tim Cook's base salary has been $3 million a year since 2016. His total compensation was $63.2 million in 2023, down from $99.4 million the previous year. AdvertisementApple chief Tim Cook has been paid an annual salary of just $3 million since 2016. However, the CEO of the second-most valuable US company also gets stock awards and a performance-based bonus, which boosts his overall earnings. His pay packet was made up of $46.9 million in stock awards and $10.7 million in non-equity incentive plan compensation.

Persons: Tim Cook's, —, Tim Cook, Cook, It's, Apple Organizations: Apple, Service, SEC, Forbes, Bloomberg, Developers Conference, Business Locations: China

☆ Apple is about to jump into the AI race. Here's what analysts expect it to do
▼ + stars: | 2024-05-03 | by ( Hakyung Kim | ) www.cnbc.com time to read: +3 min

AAPL 1D mountain Apple shares on Friday More substantive updates on Apple's latest AI offerings in both hardware and services are expected to come during its Worldwide Developers Conference in June. According to JPMorgan's Samik Chatterjee, the focus during the event will primarily be on the AI features Apple will include in its iOS 18 software. Mohan holds a buy rating on shares and slightly increased his price target to $230 from $225. "We think Apple can deliver AI upside without the AI capex we see elsewhere," Evercore ISI analyst Amit Daryanani wrote in a Thursday note following the earnings. "Apple is accelerating investments in Generative AI and [is] set to introduce new features at its most important developer conference ever."

Persons: Apple didn't, Wall, JPMorgan's Samik Chatterjee, Wamsi Mohan, Mohan, Amit Daryanani, Morgan Stanley's Erik Woodring, Woodring, Wells Fargo's Aaron Rakers, Rakers, America's Mohan, Michael Bloom Organizations: Apple, Worldwide Developers Conference, of America, America's Locations: WWDC

☆ Tim Cook gets real about China
▼ + stars: | 2024-05-03 | by ( Aaron Mok | ) www.businessinsider.com time to read: +2 min

Still, CEO Tim Cook believes there's still "work to do" in bolstering sales to its major market. "I think it has been and is the most competitive market in the world," Cook said regarding China. AdvertisementApple CEO Tim Cook says there's still more work to do on the China front. While overall iPhone sales were down 10% year-over-year, CEO Cook noted that Apple "still saw some growth" on iPhone in China, specifying that "two best-selling smartphones in urban China" are the iPhone 15 and iPhone 15 Pro Max. "I feel good about China, I think more about long term than to the next week or so," Cook told CNBC in an interview before earnings.

Persons: Tim Cook, there's, Cook, —, Max Organizations: Apple, Service, Counterpoint Research, Huawei, CNBC, Business Locations: China, Shanghai

☆ Apple's iPad caught in EU's crosshairs as it clamps down on 'gatekeepers'
▼ + stars: | 2024-04-29 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

The European Commission said users are "locked in" to iPadOS and it's hard for them to switch. It comes as a part of a broader crackdown on "gatekeepers" and a market investigation into Apple. The DMA was designed to ensure fairness and healthy competition in the digital landscape and hold Big Tech "gatekeepers" accountable. In September, the EU Commission designated Alphabet, Amazon, Apple, ByteDance, Meta, and Microsoft gatekeepers. The EU said Monday that its iPadOS investigation found it has "features of a gatekeeper."

Persons: —, Apple's iPadOS, Margrethe Vestager, Apple didn't Organizations: EU, Digital, European Commission, Apple, Service, European, Big Tech, Business, EU Commission, Meta, Microsoft

☆ Intel used to dominate the U.S. chip industry. Now it's struggling to stay relevant
▼ + stars: | 2024-04-26 | by ( Kif Leswing | ) www.cnbc.com time to read: +16 min

David Paul Morris | Getty Images News | Getty ImagesThe iPhone could have had an Intel chip inside. It would've made sense to use Intel chips, which ran on the best desktops at the time, including Apple's Macs. Braithwaite, who worked at Intel in the 1980s, said Intel's process engineers were the company's "crown jewels." Intel doesn't have a GPU competitor to Nvidia's AI accelerators, but it has an AI chip called Gaudi 3. For comparison, AMD expects about $2 billion in annual AI chip revenue.

Persons: Pat Gelsinger, Seth Wenig, Gelsinger, Biden, Nicholas Braithwaite, Akshara Bassi, It's, Steve Jobs, David Paul Morris, Apple, Paul Otellini, Walter Isaacson's, Otellini, Isaacson, Jobs, Apple didn't, Apple —, TSMC, Mikako Kitagawa, Joe Biden, Brendan Smialowski, Braithwaite, Gordon Moore, Moore's, Brian Krzanich, 7nm —, TSMC didn't, Jensen Huang, Josh Edelson, OpenAI, Gaudi, Intel's, it's, Bassi, CNBC's Jon Fortt Organizations: Intel, Taiwan Semiconductor Manufacturing Company, Nvidia, Micro Computer, Qualcomm, Broadcom, Texas Instruments, AMD, Apple, Celesta, Meta, Microsoft, Getty, Samsung, Gartner, Asus, AFP, Semiconductor, Engineers, SAP Center, Afp, Companies, Blackwell, Habana Labs, Gaudi, FactSet, U.S Locations: New York, American, U.S, Chandler , Arizona, California, San Jose , California, Taiwan, Columbus , Ohio

☆ Apple fans may already be moving on from the Vision Pro
▼ + stars: | 2024-04-23 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +2 min

Read previewSome tech devotees already seem to be losing interest in Apple's Vision Pro just months after the futuristic headset hit the market. That's bad news for Apple, which spent eight years and billions of dollars creating the Vision Pro. Apple has seemingly responded to the growing disinterest by boosting marketing around the device, evidenced by the Vision Pro's prime placement on the company's website. The Vision Pro requires its wearer to attach a battery, start the device, and move through its interface each use. BI's Jordan Hart foresaw some of those issues back in February, writing that she was running out of reasons to wear the Vision Pro after just one week.

Persons: —, Mark Gurman, Apple, Gurman, BI's Jordan Hart, he'd Organizations: Service, Apple's Vision, Apple, Business, Vision

☆ Apple has been secretly building home robots that could end up as a new product line, report says
▼ + stars: | 2024-04-03 | by ( Aaron Mok | ) www.businessinsider.com time to read: +3 min

This device initially caught the attention of senior Apple executives years ago, though they've disagreed over whether to continue with the project, Bloomberg said. AdvertisementIt also scrapped its decadeslong, multi-billionaire car effort, Project Titan, earlier this year, shifting its focus to building AI products. After Field left the company in 2021, Bloomberg says Apple's robotics efforts zeroed in on domestic products. One idea Apple explored was a robot that could do chores like washing dishes and be used for video calls. It's not yet clear whether Apple's robots will make it to consumers.

Persons: —, They're, they've, Doug Field, Apple, It's, Apple's, Apple didn't Organizations: Service, Bloomberg, Engineers, Business, Apple, EU, DOJ, Microsoft, Google, mojo, Ford, Smart, Vision Locations: China

☆ Jon Stewart takes aim at Sam, Satya and Sundar for 'false promises' on AI and jobs
▼ + stars: | 2024-04-03 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Jon Stewart is taking aim at tech bros over their "false promises" about AI and work. "The Daily Show" host blasted AI as labor-replacing, calling it a threat to jobs. Stewart also mocked the suggestion AI was creating new jobs like prompt engineers. AdvertisementJon Stewart is taking aim at tech bros over their "false promises" about AI and work. "The Daily Show" host mocked some of Silicon Valley's most influential AI leaders on Monday's episode, sharing clips of OpenAI's Sam Altman, Microsoft's Satya Nadella, and Google CEO Sundar Pichai among others.

Persons: Jon Stewart, Stewart, —, OpenAI's Sam Altman, Microsoft's Satya Nadella, Sundar Pichai, he'd, Lina Khan, Apple Organizations: bros, Service, Apple, Federal Trade, CBS, Business

☆ Jon Stewart says Apple asked him not to let FTC chair Lina Khan appear on his Apple podcast
▼ + stars: | 2024-04-02 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +3 min

Jon Stewart says Apple once asked him not to have FTC Chair Lina Khan on an Apple podcast. He said he wanted to talk to Khan about AI on a podcast linked to "The Problem with Jon Stewart." AdvertisementJon Stewart says Apple once asked him not to have Federal Trade Commission Chair Lina Khan appear on a podcast linked to his Apple TV+ show. Stewart told Khan he had previously tried to have her appear on the podcast linked to "The Problem with Jon Stewart" to discuss AI, but Apple essentially blocked the move. FTC chair Lina Khan.

Persons: Jon Stewart, Apple, Lina Khan, —, Stewart, Khan, Graeme Jennings Organizations: Apple, Department of Justice, Service, Federal Trade, Amazon, CBS, DoJ, Business

☆ See how iPhone apps could change if Apple loses its DOJ antitrust fight
▼ + stars: | 2024-04-02 | by ( Aaron Mok | ) www.businessinsider.com time to read: +4 min

New app store AltStore could be coming to iPhones in the EU after to 2024 regional rule changes. The Apple App Store rival aims to give developers more control over app distribution and payment. AltStore offers a peek into how iPhone apps could change in the US if Apple loses a DOJ lawsuit. They'll also be able to use the same Patreon integration to distribute 'paid' apps, Testut told TechCrunch. "This lawsuit threatens who we are and the principles that set Apple products apart in fiercely competitive markets," Apple told BI in March.

Persons: —, Apple, Riley Testut, They'll, Testut, Apple didn't Organizations: Apple, DOJ, Service, EU, Department of Justice, Digital, TechCrunch, Nintendo, Industry, Business

☆ Apple's iPhone China shipments in February look even worse than estimated
▼ + stars: | 2024-03-26 | by ( Aaron Mok | ) www.businessinsider.com time to read: +3 min

Apple's iPhone shipments in China have fallen again, government data show. Apple shipped roughly 2.4 million smartphones in February — a 33% drop from 2023, per Bloomberg. AdvertisementThe latest iPhone data out of China imply Apple's still having a tough time in one of its biggest markets. Counterpoint Research, in its report released in early March, estimated that iPhone sales in China had dropped by 24% in the first six weeks of the year. "In essence, Apple needs China, and China needs Apple."

Persons: —, Apple's, That's, it's, Dan Ives, Nicole Peng, Peng, Tim Cook, Ives Organizations: Apple, Bloomberg, Huawei, Service, China Academy of Information, Communications Technology, Counterpoint Research, Wedbush Securities, EU, China, Forum, CCP, Business Locations: China, Shanghai, Beijing

☆ These are the 3 Apple patents analysts say could hit the production line
▼ + stars: | 2024-03-24 | by ( Aaron Mok | ) www.businessinsider.com time to read: +5 min

Analysts predict which Apple patents are likely to become products. An Apple Watch with a camera, a hand wearable for the Vision Pro, and offline Siri may be possible. He identified three Apple patents he believes the company will likely make. AdvertisementThe patents Saini identified as "highly probable" include:1) An Apple Watch with a cameraApple's patent illustration of an Apple Watch with a camera. "Apple has been silently doing a lot of research on AI," analyst Saini said when asked about Apple's patents related to AI.

Persons: Siri, —, Apple's, Ming, Chi Kuo, Anmol Saini, Saini, Gene Munster, Munster Organizations: Apple, Apple Watch, Vision, Service, GreyB, United States Patent, USPTO, Asset Management, Bloomberg, Google, US Department of Justice

☆ Apple has begun testing an AI-powered ad product similar to Google's Performance Max as it looks to supercharge its $7 billion ad business
▼ + stars: | 2024-03-11 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +3 min

Apple is taking a cue from Google and Meta by experimenting with a new AI-powered way to buy its App Store ads, according to two people familiar with the matter. Commentators have previously speculated that Apple would soon bring ads to Maps, Apple TV+, and its Books app. Most of that revenue is derived from its App Store search ads, though it has recently made progress in other areas. Apple now offers sponsorships and other ad integrations within its broadcasts of MLS Soccer on Apple TV. It has also made key hires in areas including adtech and TV ad sales, which suggests it may have bigger advertising ambitions, such as following rivals like Netflix and Apple by adding an advertising tier to Apple TV+.

Persons: Max, it's, Apple didn't, Eric Seufert, Seufert, Apple Organizations: Apple, Google, Business, Meta, Mobile, MLS Soccer, Netflix

Apple has reversed course under regulatory pressure and cleared the way for a nettlesome adversary, video game maker Epic Games, to set up an alternative store for iPhone apps in Europe. Apple attributed the change of heart to reassurances from Epic that it won't violate its requirements for getting access to iPhone owners. Epic had brazenly broke the rules in the U.S. in 2020 to trigger an antitrust lawsuit alleging Apple's App Store is a monopoly. Apple had rejected Epic's attempt to set up an account that would have allowed it to set up an alternative store for downloading iPhone apps — something that Apple has held exclusive control over for more than 15 years. Apple is demanding more than $73 million from Epic to cover its fees in the U.S. antitrust case over the App Store.

Persons: brazenly, Apple, Tim Sweeney, Sweeney Organizations: Apple, Epic, Epic Games, European Commission Locations: Europe, U.S, Sweden

☆ Apple has nabbed a key ad exec from NBCUniversal, and it points to its growing TV ad ambitions
▼ + stars: | 2024-03-08 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

Apple has been making a string of advertising hires, more signs of its ambitions to grow its TV ad business. Crawford helped lead Apple's Major League Soccer ad sales pitch with Todd Teresi, who leads Apple's ads division. Cady will also likely work closely with Lauren Fry, a TV and video ad sales veteran Apple hired in February 2023 as head of video ad sales. Jacqueline Bleazey, who joined video advertising sales in October, from senior director of sponsorships and ad sales at FanDuel and ad agency roles before that, according to her LinkedIn. For advertisers, Apple TV+ is a small but highly-rated player that would let them reach an affluent viewing audience that has been off-limits to them.

Persons: Joseph Cady, Cady, Krishan Bhatia, Winston Crawford, Crawford, Todd Teresi, Lauren Fry, Jason Brum, Chandler Taylor, Jacqueline Bleazey, Ted Lasso, It's, Apple Organizations: Apple, Amazon, Google, Business, Major League Soccer, MLS, MLB, DirecTV, NBCUniversal, Cannes, Netflix Locations: Peacock

☆ Apple announces new MacBook Airs with its latest M3 chip
▼ + stars: | 2024-03-04 | by ( Todd Haselton | ) www.cnbc.com time to read: +2 min

Apple on Monday announced new versions of its 13-inch and 15-inch MacBook Air laptops with its latest M3 chip. The M3 chip first launched in October, when Apple launched versions of the chip for its iMac desktop computer and more powerful versions of the processor for its MacBook Pro laptops. The new M3 chip allows users to add up to two external displays, an improvement from a single screen supported by earlier chips. It called the new MacBook Air the "world's best consumer laptop for AI." The 13-inch MacBook Air starts at $1,099, while the 15-inch starts at $1,299.

Persons: it's, Anthropic's Claude, Apple, Tim Cook Organizations: Apple, Monday, Apple's, Conference, CNBC, YouTube

☆ Apple has been hit with a fine of nearly $2 billion by the European Commission over music streaming restrictions
▼ + stars: | 2024-03-04 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

The European Commission fined Apple 1.8 billion euros for abusing its market dominance. Apple restricted app developers from informing users about alternative, cheaper music services. AdvertisementApple has been hit with a fine of 1.8 billion euros ($1.95 billion) by the European Commission, part of the European Union. The EU regulators said iOS users paid "significantly higher prices for music streaming subscriptions" as a result of Apple imposing the fees on developers, which lasted for nearly a decade. The streaming firm claimed Apple's App Store rules "purposely limit choice and stifle innovation" by imposing a 30% commission on app developers.

Persons: —, Apple, Apple didn't Organizations: European Commission, Apple, Spotify, Service, European Union, Digital Markets, Commission, Business Locations: EU, Paris

☆ Apple fans in China can't buy the Vision Pro yet, so they're lining up to rent it by the hour or day
▼ + stars: | 2024-02-28 | by ( Aaron Mok | ) www.businessinsider.com time to read: +2 min

Read previewPeople living in China are eager to try out the Apple Vision Pro before it launches in the country — and some are lining up to rent the headsets from third-parties, the South China Morning Post reported. It's unclear how Chinese third-party vendors get their Apple Vision Pros. AdvertisementFor people interested in enjoying some time with a Vision Pro in their own home, however, third-party vendors aren't just leasing the headsets in China. Photography equipment rental companies like Lensrentals and ShareGrid appear to be offering their own Apple headset rentals starting at $120 a day. Are you using the Apple Vision Pro in an interesting way?

Persons: —, Zhuan, SCMP, Tim Cook, hasn't, Apple didn't, Aaron Mok Organizations: Service, Apple Vision, China Morning Post, Business, VR, South China Morning, Apple Locations: China, Beijing, amok@insider.com

☆ One reason the Vision Pro might be so expensive: 'mimetic desire'
▼ + stars: | 2024-02-20 | by ( Aaron Mok | ) www.businessinsider.com time to read: +4 min

Rooted in philosophical thought, mimetic desire refers to the notion that people desire the same things that their role models want. In the context of the Vision Pro, that theory could mean consumers may be more likely to purchase the device because celebrities or influencers they admire own it. "If these people are models to you—which they are for many young people—mimetic desire kicks in and you subconsciously want a Vision Pro too." If you have an Apple Vision Pro, some photography tips. After all, the Oculus founder, who did not respond to BI's request for comment, said he believes the Vision Pro will eventually be cheaper for the masses.

Persons: —, Jason Levin, Levin, who've, YouTubers Logan Paul, Casey Neistat, Kid Cudi, Robert Scoble, Sam Altman, bB0XTzJ291, Palmer Luckey, Luckey, Apple, would've, It's, Tesla, Elon Musk, Apple didn't Organizations: Service, Business, Vision, Apple Vision, Apple, Pro

☆ Don't dry your damp iPhone in a bowl of rice, Apple says
▼ + stars: | 2024-02-20 | by ( Aaron Mok | ) www.businessinsider.com time to read: +3 min

Is your iPhone wet? Apple's new support doc says rice can actually cause more damage to your iPhone. AdvertisementHave you ever been told to put your iPhone in a bowl of rice after accidentally dropping it in the sink or — even worse — toilet? After that, store the phone in a dry area where there's some airflow for at least 30 minutes, then try charging it. Nevertheless, your wet phone may still have a likely chance of surviving.

Persons: —, Apple, Apple didn't Organizations: Service, Apple, Business

☆ A little-known iPhone feature helped rescue a lost hiker in California
▼ + stars: | 2024-02-20 | by ( Aaron Mok | ) www.businessinsider.com time to read: +3 min

A niche iPhone feature helped a search-and-rescue team find a lost hiker in California, KTLA said. The hiker used the Emergency SOS feature on his iPhone 14 to alert authorities. AdvertisementIf you ever find yourself lost in the wilderness, a little-known iPhone feature may help you get back to safety. It's not the first time rescue teams have located lost hikers through the iPhone's emergency feature in California, KTLA reported. The iPhone's emergency SOS feature isn't the only one that can alert authorities to life-threatening situations.

Persons: —, Mike Leum, Leum, Apple didn't, It's, Siri Organizations: KTLA, Service, Angeles National Forest, Apple, Business, Police Locations: California, Alaska, Lincoln , Nebraska, Australia, Thai

☆ Apple's freshest design might just be this puffy space-age carrying case
▼ + stars: | 2024-02-19 | by ( Aaron Mok | ) www.businessinsider.com time to read: +4 min

Read previewApple products appear to be sporting a new aesthetic with its case for the Vision Pro. The Apple Vision Pro travel case is a white, bulbous pouch designed to protect the $3,500 mixed reality headset when carried on the go. Product reviewers say the $200 Apple Vision Pro travel case sports a different look than Apple's typical accessories. Despite the concerns, reviewers agree that the case fits their Vision Pro headsets and accessories well. "I just bought a $200 camping pillow to put my Vision Pro inside,"he said.

Persons: —, Derrick Gee, Gee, Faiz Aly, Matt Gray, Cliff Shin, Shin, Aly, TechWeWant, Gray Organizations: Service, Vision, Apple Vision, Apple, Business, NASA, YouTube, University of Illinois Locations: University of Illinois Urbana, Champaign

☆ New report sheds light on Apple's upcoming AI features that will rival Microsoft's Copilot
▼ + stars: | 2024-02-15 | by ( Aaron Mok | ) www.businessinsider.com time to read: +2 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementCurrently, Apple is urging some engineers to test these new AI features to ensure they work before releasing them externally to developers. Apple's covert plans to launch its AI coding tool soon comes as the company lags behind generative AI efforts currently led by players like OpenAI, Google, and Microsoft. The tech giant, Bloomberg has learned, has plans to integrate AI features into its next software updates for its iPhone and iPad known internally as Crystal. The company is also building features that will generate Apple Music playlists and slideshows, according to the outlet.

Persons: —, GitHub, Apple didn't, Tim Cook, We've, Cook, would've Organizations: Service, Bloomberg, Business, Apple, Google, Microsoft

☆ These Apple Vision Pro buyers are returning their headsets — and this is why
▼ + stars: | 2024-02-13 | by ( Aaron Mok | ) www.businessinsider.com time to read: +4 min

Read previewWhen the Apple Vision Pro hit the market on February 2nd, would-be fans lined up at the break of dawn to test the mixed-reality headset at their local Apple Stores. One major reason Vision Pro customers say they want a refund: its seemingly clunky design. Some Redditors who claim to be returning the Vision Pro also referenced how uncomfortable it is to wear the headset. Disappointment in the headset's vision quality is another gripe expressed by Vision Pro customers. AdvertisementThat is, if the Vision Pro ever gets cheaper.

Persons: —, they're, Farzad Mesbahi, Mesbahi, Collin Michael, he's, Michael, Apple, Kane Sutter, Matt Schneider, Apple didn't, Sutter Organizations: Service, Apple Vision, Apple Stores, Business, Twitter, Apple, Vision, Vision Pro, YouTube, Pro

☆ Don't forget your Apple Vision Pro password or else
▼ + stars: | 2024-02-06 | by ( Aaron Mok | ) www.businessinsider.com time to read: +3 min

Read previewDid you forget the passcode to your Apple Vision Pro? "Is there a method to reset the Vision Pro when the login password is forgotten?" Apple didn't immediately respond when asked if a future software update would allow Vision Pro users to reset their passcode on their own. These issues with the Vision Pro appear to be the first ones that have come to light since Apple's splashy release. AdvertisementAround 200,000 Vision Pro headsets were reportedly sold when preorders opened in mid-January.

Persons: —, Reddit, Apple didn't, Insider's, Jordan Hart, preorders Organizations: Service, Apple Vision, Apple, Bloomberg, Business, Vision, Pro

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