Apple Corporate

Carl Icahn drops Apple buyback proposal

Activist investor Carl Icahn appears to have had a change of heart about his plan for Apple to boost its stock buyback program.

In a letter to Apple shareholders on Monday, Icahn wrote that he has decided to ditch his "non-binding proposal, especially when the company is already so close to fulfilling our requested repurchase target."

Icahn for months has been urging Apple CEO Tim Cook to boost his company's plans for a stock buyback program. When companies buy back shares, they effectively reduce any watering-down of share value, giving large shareholders -- like Icahn -- even … Read more

Proxy adviser backs Apple in stock buyback fight with Icahn

A prominent proxy advisory service has sided with Apple, recommending to its clients that they vote against a proposal by activist investor Carl Icahn that calls on the company to initiate a $50 billion stock buyback.

In a report to clients Sunday, Institutional Shareholder Services said the share repurchase proposal was unnecessary after recent stock buybacks and dividend payouts.

"In light of these good-faith efforts and its past stewardship, the board's latitude should not be constricted by a shareholder resolution that would micromanage the company's capital allocation process," according to the report, which was obtained by … Read more

Apple CEO Cook reiterates: New product categories in the works

Although Tim Cook has hinted in the past that Apple is looking at other product categories, the company's chief executive on Thursday left no doubt about his plans to look elsewhere.

"There will be new [product] categories," Cook told The Wall Street Journal in an interview published Thursday. "We're not ready to talk about it, but we're working on some really great stuff."

Cook went on to say that any "reasonable" person would expect Apple to be looking to break into other product categories.

There have been near-constant rumblings over the … Read more

Apple's stock buyback not a lasting tonic, says analyst

Apple may have pleased investors with its recent stock buyback, but analyst Mark Moskowitz doesn't see the news as a big cause for celebration.

Speaking with The Wall Street Journal this week, Apple CEO Tim Cook revealed that the company had taken advantage of the recent price drop to repurchase $14 billion of its own shares. Activist investor Carl Icahn and others have been pressing Apple to move more aggressively to buy back stock. However, the buyback doesn't do much to address other problems facing the company, according to JP Morgan's Moskowitz

The analyst said he would … Read more

Apple's 1976 marketing plan included Apple Stores

MOUNTAIN VIEW, Calif. -- Apple opened its first retail stores in May 2001, but it turns out the idea for the tech giant's shopping hubs came 25 years earlier.

Regis McKenna, the legendary Silicon Valley marketing guru, talked about his first meeting with Steve Jobs and Steve Wozniak back in 1976, during a fireside chat Thursday at the Computer History Museum here.

The pair came in looking for someone to help market the Apple II. During the meeting, McKenna rubbed Woz the wrong way and hit it off with Jobs. McKenna initially turned down Apple's business and showed … Read more

Apple goes big with a $14 billion stock buyback

Apple took advantage of investor disappointment with the company's first-quarter financial results to accelerate its stock buyback plans.

The company repurchased $14 billion of its own shares in two weeks, according to The Wall Street Journal. Apple CEO Tim Cook told the Journal Thursday that he intends for the move to be both "aggressive" and "opportunistic."

"It means that we are betting on Apple. It means that we are really confident on what we are doing and what we plan to do," Cook told the Journal. "We're not just saying that. … Read more

Apple closer to opening 'iconic' 'flagship' San Francisco store

Apple is known for opening haute-design retail stores. There's the massive glass cube in New York City, the high-columned facade in Berlin, and the futuristic transparent cylinder in Shanghai.

The company announced last May that it was planning to open the mother of all retail stores in San Francisco -- near its Silicon Valley home base. Of course, projects like these must go through copious planning meetings, blueprint revisions, and city approvals.

But now, Apple is now one step closer to its vision. The San Francisco Planning Commission voted to accept Apple's plans (PDF) for its new store … Read more

Wozniak criticizes cloud dependence in light of NSA

SAN FRANCISCO -- Apple co-founder Steve Wozniak says he has sympathy for companies at odds with the NSA and its surveillance tactics, but that their own dependence on server farms is part of the problem.

"I think most companies, just like Apple, start out young and idealistic," Wozniak said at the Apps World North America convention here. "But now all these companies are going to the cloud. And with the cloud you don't have any control."

Tech companies, of course, are on the defensive these days, after disclosures about the NSA last year. In October, … Read more

Apple hires 'expert on sleep research' for iWatch -- report

Apple has reportedly hired a self-proclaimed "expert on sleep research."

Roy J.E.M Raymann, formerly of Philips Research, has joined Apple to help the company build out the feature set in its long-rumored iWatch, 9to5Mac reported on Tuesday, citing people who claim to have knowledge of the hiring. Although 9to5Mac's sources didn't know exactly what Raymann would do at Apple, his resume suggests he'll help the iWatch team with body tracking.

Raymann appears to have quite a resume. According to his LinkedIn page, he holds a Ph.D. in the "interaction between sleep … Read more

iPhone 5, Galaxy S3 named in upcoming Apple-Samsung trial

Apple and Samsung have provided their final list of allegedly infringing devices for their next mega trial.

Apple on Tuesday presented to the San Jose, Calif., federal court a slew of Samsung products -- including the Admire, Galaxy Nexus, Galaxy Note, Galaxy Note II, and Galaxy S3 -- that it contends violates its patents. Samsung responded, saying that it believes Apple's iPhone 4, 4S, and 5 -- along with the iPad 2, 3, and 4, among others -- infringe on its patents.

All told, the companies both presented 10 allegedly infringing products in their briefs with the court. FOSS Patents earlier reported on the story.… Read more