Today Apple released both its tardy 10Q (for 2Q 2006) and 10K (for fiscal year 2006) reports to the SEC. Much of the attention of the press release was placed on the continuing Stock Options back-dating investigation.
According to the release, Apple found a total of $84 million in charges related to the case, which dates back to 1997, including $4 million in 2006 and $7 million in 2005. However, to put the issue in perspective, Apple's profits for 2005 and 2006 were $1 billion-plus each year, so the corrections represent less than 1% of Apple's profitability in those years.
In addition, Apple's board expressed confidence in CEO Steve Jobs, who was recently in headlines regarding some of the backdated options he received but never profited from.
The special committee, its independent counsel and forensic accountants have performed an exhaustive investigation of Apples stock option granting practices, in a joint statement said Al Gore, chair of the special committee, and Jerome York, chair of Apples Audit and Finance Committee. The board of directors is confident that the Company has corrected the problems that led to the restatement, and it has complete confidence in Steve Jobs and the senior management team.
Apple's stock has been traded heavily over the past few days, with the stock dipping as much as 6% before recovering on December 27th (Wednesday). As of this writing, Apple's stock is up over 5%.
Wednesday February 26, 2025 6:32 am PST by Joe Rossignol
In an all-caps post on Truth Social today, U.S. President Donald Trump said Apple should fully end its diversity, equity, and inclusion (DEI) policies.
Tim Cook meeting with President Trump in 2017
"APPLE SHOULD GET RID OF DEI RULES, NOT JUST MAKE ADJUSTMENTS TO THEM," he wrote.
Trump's post comes one day after Apple held its annual shareholders meeting, during which a majority of...
Wednesday February 26, 2025 7:15 am PST by Joe Rossignol
In a recent press release, Apple confirmed that iOS 18.4 will be released in April.
From the Apple News+ Food announcement:Coming with iOS 18.4 and iPadOS 18.4 in April, Apple News+ subscribers will have access to Apple News+ Food, a new section that will feature tens of thousands of recipes — as well as stories about restaurants, healthy eating, kitchen essentials, and more — from the...
The Apple Watch Ultra 3 is expected to launch later this year, arriving two years after the previous model with a series of improvements.
While no noticeable design changes are expected for the third generation since the company tends to stick with the same Apple Watch design through three generations before changing it, there are a series of internal upgrades on the way.
By the time the ...
Tuesday February 25, 2025 2:58 am PST by Tim Hardwick
Apple is making significant headway on its long-rumored foldable iPhone, with a new report suggesting the company has achieved a major breakthrough by effectively eliminating the screen crease that plagues current foldable devices.
According to Korean publication ETNews, Apple is finalizing its component suppliers for the foldable iPhone, with the selection process expected to be completed...
Tuesday February 25, 2025 1:18 pm PST by Juli Clover
Multiple iPhone owners today noticed a pronunciation processing issue that causes the word "Trump" to momentarily show up when using dictation to send a message with the word "racist."
In some cases, when speaking the word racist through the iPhone's built-in dictation feature, the iPhone briefly interprets the spoken word as "Trump" and "Trump" text shows up in the Messages app before being ...
Monday February 24, 2025 9:14 am PST by Joe Rossignol
According to a post on X today from a leaker known as Kosutami, Apple plans to launch AirPods Pro 3 in May or June this year.
The leaker also claimed that an AirTag 2 will launch around the same time.
Kosutami is best known as a collector of prototype Apple hardware, but they have occasionally shared accurate information about Apple's future product plans. For example, they accurately...
Monday February 24, 2025 6:11 am PST by Joe Rossignol
Apple plans to launch a second-generation AirTag in May or June this year, according to a post today from a leaker known as Kosutami.
Bloomberg's Mark Gurman previously reported that a new AirTag would be released in mid-2025. May or June would align with that timeframe.
Below, we recap three new features rumored for the AirTag 2:
With a second-generation Ultra Wideband chip, the...
Sunday February 23, 2025 2:23 pm PST by Joe Rossignol
The first beta of iOS 18.4 is now available, and it includes a small but useful change for CarPlay.
As we noted in our list of iOS 18.4 features, CarPlay now shows a third row of icons, up from two rows previously. However, this change is only visible in vehicles with a larger center display. For example, a MacRumors Forums member noticed the change in a Toyota Tundra, which can be equipped...
