Apple Corporate

Tim Cook doesn't like Apple's falling share price, either

If you're an Apple shareholder and pretty pissed about the company's recent stock drop, you can at least take comfort in knowing you're not alone.

Apple Chief Executive Tim Cook said today during the electronics giant's annual shareholder meeting that he knows people are upset about the stock drop.

"I don't like it either," Cook said. Nor does the board and management, he added.

But what investors are likely still wondering is what Apple is going to do about it. Shares have tumbled roughly 35 percent from their peak in September, and it'… Read more

Tim Cook to shareholders: It was the 'mother of all years'

CUPERTINO, Calif. -- Apple CEO Tim Cook tried to reassure shareholders today, saying that the company was disappointed by its falling stock price but also that Apple is committed to its long-term strategy.

The meeting itself, which took place here this morning, was business as usual.

As expected, shareholders voted to re-elect all eight of Apple's board members. That includes Andrea Jung, Apple's only female board member, who was forced to resign as the chief executive of Avon last year and now serves as a senior adviser for the beauty products company.

The stakes were a bit higher … Read more

Apple's Chinese suppliers still exploiting workers, says report

Apple has so far failed in its responsibility to monitor its Chinese suppliers for worker violations, claims a labor watchdog group.

In a report released yesterday, Student & Scholars Against Corporate Misbehavior (SACOM) accused three of Apple's Chinese suppliers of inhumane worker conditions. The three suppliers -- Foxlink, Pegatron, and Wintek -- fail to provide for basic human needs and continue to use student workers, according to SACOM.

Over the past few years, Apple has increased its audits of Chinese factories and taken action against those that violate its supplier code of conduct. Regardless, SACOM's report asserts that … Read more

VirnetX v. Apple judge upholds $368M patent suit verdict

A U.S. District Court has upheld an earlier decision by a federal jury last year to award intellectual property and patent holding firm VirnetX more than $368.2 million, after Apple was found to have infringed patents related to the networking technology used it its FaceTime video chat service.

Meanwhile, as first noted by Seeking Alpha, Apple must award VirnetX more than $330,000 per day until the case is settled, forcing the companies to hammer out agreements between themselves.

VirnetX, known for going after major tech companies on patent infringement claims, believes Apple infringed four networking patents designed … Read more

Stock split rumor surfaces ahead of Apple investor meeting

At last year's annual shareholders meeting, Apple CEO Tim Cook knocked the idea of splitting Apple's then-soaring stock.

"A stock split isn't so clear to be honest," Cook told investors last February. Apple had charted out how stock splits worked for "many" other companies, Cook explained, and hadn't come up with a clear answer on what to do. "There might be a short-term pop, but for a lot it does nothing," Cook said.

A lot can change in a year though.

The day before Apple shareholders descend on the company's Cupertino, Calif., campus, … Read more

Hot topic at Apple shareholders meeting is off limits

Apple opens up its doors to shareholders tomorrow, an annual event that's been home to everything from group renditions of "happy birthday" to environmental protesters donning giant iPod costumes.

It's also home to formalities like re-electing board members, choosing Apple's accounting firm, as well as a chance for executives to dodge the inevitable shareholder questions about products the company is working on.

This year is a little different though. Shareholders were set to vote on something that's no longer on the table following a lawsuit filed against Apple earlier this month.

Greenlight Capital, a … Read more

Apple 'more flexible' under Tim Cook, says telecom chief

Apple has become easier to do business with under Tim Cook's leadership, according to the chief at one major European wireless carrier.

"Apple has [become] more flexible, paying more attention to everyone else, probably a little less arrogant than they used to be," France Telecom-Orange CEO Stephane Richard told reporters today in Barcelona, Spain. According to All Things D, Richard compared today's company with the one led two years ago by Steve Jobs, saying, "I think they are probably a little more under pressure, and it is quite nice."

Indeed, Jobs was not a … Read more

Apple yanks proxy proposal after judge backs Einhorn

In response to a court ruling today in favor of hedge fund manager David Einhorn, Apple has yanked a proxy proposal that would eliminate its ability to issue "blank check" preferred stock without investor approval.

Apple issued a statement concerning the ruling by U.S. District Judge Richard Sullivan, who granted Einhorn's bid to block next week's shareholder vote on the proposal:

"We are disappointed with the court's ruling. Proposal #2 is part of our efforts to further enhance corporate governance and serve our shareholders' best interests. Unfortunately, due to today's decision, shareholders … Read more

Court backs Einhorn bid to stop Apple proxy vote

Safe to assume that hedge fund manager David Einhorn is not going to wind up invited to Apple's next beer bash. Earlier this month, Apple CEO Tim Cook described the lawsuit filed by Einhorn's Greenlight hedge fund as a waste of time and money. Einhorn since took his case directly to shareholders with a public elaboration of his reason why Apple ought to part with some of its $137 billion in cash in the form of issuing preferred stock to investors.

Now U.S. District Judge Richard Sullivan has granted his bid to block next week's shareholder … Read more