Justice Department sues Apple, alleging it illegally monopolized the smartphone market
The Justice Department on Thursday announced a sweeping antitrust lawsuit against Apple, accusing the tech giant of engineering an illegal monopoly in smartphones that boxes out competitors, stifles innovation and keeps prices artificially high.
Apple posts big quarter on fast sales start for iPhone 12
The apparently pent-up demand for four different iPhone 12 models highlighted Apples latest quarterly report Wednesday, Jan. 27, 2021. The apparently pent-up demand for four different iPhone 12 models highlighted Appleโs latest quarterly report Wednesday. Appleโs iPhone sales during the October-December period totaled $65.6 billion, a 17% increase from the same time in the previous year. Apple CEO Tim Cook described the consumer response to the iPhone 12 as โenthusiastic" during a conference call. All told, about 1.65 billion Apple devices, including 1 billion iPhones, are currently being used around the world, according to Cook.
Will Apple be breaking into the auto industry? -- What we know
Speculation of an Apple car came in 2015 when the A123 Systems electric car battery company sued Apple Inc. for poaching some of its employees. Gartner auto analyst Mike Ramsey said the idea of Apple getting into the car business grabs attention. Nobody in the auto industry has ever made those kinds of profit margins. Industry headlines have recently included notions that Ford could possibly build the Apple Car, then Hyundai and now thereโs also Canadian auto supplier, Magna. Thatโs the kind of company that Apple likes to work with and the rest of their business,โ Abuelsamid said.
Apple previews new iPhone software, changes to Mac chips
(Brooks Kraft/Apple Inc. via AP)Apple on Monday provided a glimpse at upcoming software changes designed to make the iPhone even easier to use and announced underlying hardware changes to its line of Mac computers. In recognition of the pandemic, Apples next iPhone operating system will include an option to put a face mask on a personalized emoji. Upgraded software for the Apple Watch will detect when wearers wash their hands. Apple also said its Mac computers will begin shifting to the company's own processor chips and away from the Intel chips that have powered those computers for 15 years. Some Macs will have the Apple chips before the end of the year, but the full transition away from Intel chips wont be completed until 2022.
Apple shakes off iPhone slump to deliver strong fiscal 4Q
Apple said Wednesday that revenue rose 2% from the same time last year to $64 billion, despite iPhone revenue dropping 9%. In another encouraging sign for the company, Apple's sales in China recover further from a sharp drop-off earlier this year. Those worries hammered Apple's stock, driving down the price to $142 in early January. Services generated $46 billion in revenue during Apple's just-ended fiscal year, accounting for 18% of the company's revenue. Just three years ago, services accounted for 11% of Apple's revenue.