Apple’s share price crosses US$ 500 per share milestone (USA)

By Editor on February 14, 2012 · Leave a Comment

The share price of iPhone maker Apple Inc crossed the US$ 500 per share milestone for the first time according to a report by BBC. The company is currently valued at US$ 460 billion, representing a massive turnaround in the past fifteen years where it came close to facing bankruptcy.

The company has faced its share of ups and downs in the past year with the resignation of Steve Jobs as CEO along with the number of patent infringement lawsuits against Google’s Android powered devices such as Samsung and HTC.

On the other hand, the launch of the iPhone 4S saw Apple’s sales surge in the last quarter, especially during the festive season. Reports reveal that the US giant may announce the iPad 3 in the coming month.

The report also reveals that the working conditions in factories that produce Apple products are to be inspected. Further, the Fair Labor Association will audit several suppliers, including Foxconn in China, at Apple’s request.

Tim Cook, CEO, Apple has said that workers everywhere have the right to a safe and fair work environment.

Filed under Mobile · Tagged with Android, Apple Inc, Google, HTC, iPad 3, iPhone, iPhone 4S, iPhone-5, Samsung, Share Price, Steve Jobs, Tim Cook, US$ 500 per share

Apple passes Exxon as the most valuable firm (USA)

By Editor on January 27, 2012 · Leave a Comment

Apple US giant Apple Inc has reportedly emerged as the most valuable US company surpassing Exxon once again. According to reports, the market capitalization of Apple was at $ 418.5 on Wednesday, while Exxon had a mobile capitalization of $ 413 billion. However, Exxon regained its position at the end of the day.

Apple recently reported its first quarter financial results, where in the company posted record quarterly revenue of $46.33 billion and record quarterly net profit of $13.06 billion, against a revenue of $26.74 billion and net quarterly profit of $6 billion, for the same quarter in the past year.

As per the company report, Tim Cook, CEO, Apple has said that they are thrilled with their outstanding results and record-breaking sales of iPhones, iPads and Macs. He added that Apple’s momentum is incredibly strong, and they have some amazing new products in the pipeline.

Filed under Mobile · Tagged with Apple, CEO, Exxon, iPADs, iPhones, MACs, market capitalization, Tim Cook

Apple hands out $60 million to senior vice-presidents (USA)

By Editor on November 7, 2011 · Leave a Comment

California based iPhone manufacturer Apple Inc., has reportedly given its senior vice-presidents $60 million restricted stock-grants in an attempt to hold on to its management team following the death of the former CEO, Steve Jobs. According to reports, software executive Scott Forstall, hardware manager Bob Mansfield, CFO Peter Oppenheimer, marketing chief Phil Schiller, General Counsel Bruce Sewell and operations manager Jeff Williams each received 150,000 in restricted stock units, maturing between 2013 and 2016.

As per sources, the company has said that the executive team is incredibly talented and they are all dedicated to Apple’s continued success and the stock grants are meant to reward them down the road for their hard work in helping to keep Apple the most innovative company in the world. Reports suggest that the $60 million amount is based on the current stock price while the final value will depend on the price when the grants are exercised.

According to reports, Tim Cook, CEO, Apple received 1 million restricted stock units when he was appointed as the CEO in August. Further, of the stock currently worth over $400 million, half the grant matures in 2016 while the remaining stock matures in 2021, subject to his continued employment with the company.

Filed under Mobile · Tagged with Apple, iPad, iPhone, Steve Jobs, stock-grants, Tim Cook

Steve Jobs to take Medical Leave from Apple

By Editor on January 18, 2011 · Leave a Comment

Apple’s CEO Steve Jobs has announced in an email to his staff that he is to take medical leave from the company for an unspecified period of time.

In late 2008-2009 he took about six months away from the company for a liver transplant, which sparked a flurry of speculation about how the company would handle a CEO transition.

In an e-mail to employees he stated that he was taking the break to focus on his health. He would continue as Chief Executive of Apple and be involved in any major decisions, while the day-to-day running of the company will be passed to Apple’s chief operating officer, Tim Cook.

It is notable that the announcement was made today, which is Martin Luther King, Jr. Day in the USA, and the stock markets are closed for the day. The market to the news will have had time to digest the news before trading resumes tomorrow morning.