|Bid||48.14 x 1000|
|Ask||48.16 x 900|
|Day's Range||47.30 - 48.41|
|52 Week Range||28.50 - 58.73|
|Beta (5Y Monthly)||0.85|
|PE Ratio (TTM)||80.62|
|Earnings Date||May 04, 2021 - May 10, 2021|
|Forward Dividend & Yield||0.28 (0.58%)|
|Ex-Dividend Date||Apr 06, 2021|
|1y Target Est||53.57|
(Bloomberg) -- Apple Inc. is refusing to participate in an upcoming Senate hearing about anti-competitive practices at online app stores, according to a letter addressed to Chief Executive Officer Tim Cook from Democrat Amy Klobuchar and Mike Lee, a Republican.The letter says the Cupertino, California-based company declined to send a witness for an upcoming hearing of the Senate Judiciary Committee’s antitrust panel to examine allegations of anticompetitive treatment of outside app developers.Klobuchar and Lee, the panel’s chair and ranking Republican, noted that the vast majority of mobile apps are downloaded from Apple and Alphabet Inc.’s Google platforms. Google has agreed to provide a witness for the hearing, but hasn’t said who, according to a person familiar with the matter.“Apple’s power over the cost, distribution, and availability of mobile applications on the Apple devices used by millions of consumers raises serious competition issues that are of interest to the subcommittee, consumers, and app developers,” the letter says. “A full and fair examination of these issues before the subcommittee requires Apple’s participation.”Apple and Google didn’t immediately respond to requests for comment.The senators said Apple initially engaged with the panel to discuss sending a witness but “abruptly” changed course 16 days before the planned hearing, citing ongoing litigation. Epic Games Inc. and Apple are going to trial in May after Epic filed an antitrust suit against Apple last year in a dispute over the 30% cut it takes from revenues on its platform. Apple later countersued, alleging that Epic breached its App Store developer contract. Epic also sued Google over the same issue.The letter pointed to an interview Cook did for a New York Times podcast in which he discussed litigation related to Epic Games.The Justice Department’s antitrust division has been investigating Apple’s App Store practices to determine whether the company is harming competition, Bloomberg has reported.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
(Bloomberg) -- Amazon.com Inc. violated labor law when it fired two high-profile internal critics last year, the National Labor Relations Board’s prosecutors have found.Emily Cunningham and Maren Costa were terminated last April after raising concerns about Amazon’s treatment of warehouse workers during the pandemic. Their dismissals ran afoul of legal protections for employees who advocate for changes to their workplace, and the NLRB plans to file a complaint accusing Amazon of unfair labor practices if the company does not settle the case, according to a letter sent to the pair by a lawyer with the NLRB’s Seattle regional office.“We support every employee’s right to criticize their employer’s working conditions, but that does not come with blanket immunity against our internal policies, all of which are lawful,” Jaci Anderson, an Amazon spokesperson, said in an emailed statement. “We terminated these employees not for talking publicly about working conditions, safety, or sustainability, but rather, for repeatedly violating internal policies.”The New York Times reported the board’s findings earlier Monday. “It’s a moral victory and really shows that we are on the right side of history and the right side of the law,” Cunningham told the newspaper.Cunningham and Costa, both user-experience designers, were among the leaders of an employee group that pushed Amazon to do more to address climate change. Last year, as the coronovirus began spreading, they sought to use their group to highlight the demands of workers who pack and ship items in the company’s warehouses. The pair say they were fired shortly after circulating an invitation to their coworkers to attend a virtual event connecting warehouse workers and tech employees.“That’s the bomb that set them off,” Costa said in an interview last year.Some Amazon employees called in sick to protest the firings, one of a series of employee protests at the company last year.The charges are among dozens of complaints filed against Amazon with the U.S. labor regulator since the pandemic began. The NLRB, which usually investigates such claims at its regional offices around the country, is assessing whether the similarities between cases against Amazon merit a consolidated response and approach, a spokesperson for the board said.When regional NLRB offices find a company has broken the law and aren’t able to secure a settlement, they issue complaints on behalf of the agency’s general counsel, which are then heard by administrative law judges. Those judges’ rulings can then be appealed to the NLRB’s presidentially appointed members in Washington and from there to federal court.(Updates with Amazon comment, details on NLRB process, beginning in the first paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
(Bloomberg) -- Tim Cook has been with Apple Inc. for 23 years and served as its chief executive officer for nearly a decade, but he used a new podcast appearance to suggest that some kind of an eventual change may be on the horizon.“I feel great right now. And the date’s not in sight,” the 60-year-old told the New York Times “Sway” podcast that was released Monday. “But 10 more years is a long time and probably not 10 more years.”The interview touched on a wide range of topics including the controversial Parler social media app that was blocked by Apple earlier this year, Apple TV+ and autonomous vehicles. Cook, when asked about Elon Musk’s claim that he once tried to hold talks about the possibility of selling Tesla to Apple, said that he’s never spoken with Musk but that he has “great admiration and respect” for the company he built.“I think Tesla has done an unbelievable job of not only establishing the lead, but keeping the lead for such a long period of time in the EV space,” Cook said without revealing many clues about what Apple had planned for the sector. “We’ll see what Apple does. We investigate so many things internally. Many of them never see the light of day. I’m not saying that one will not.”Other topics covered include:On removing Parler from the App Store:“In some ways, it was a straightforward decision, because they were not adhering to the guidelines of the App Store. You can’t be inciting violence or allow people to incite violence. You can’t allow hate speech and so forth. And they had moved from moderating to not being able to moderate.”“I hope that they come back on. Because we work hard to get people on the store, not to keep people off the store. And so, I’m hoping that they put in the moderation that’s required to be on the store and come back, because I think having more social networks out there is better than having less.”On social media and the attack on the Capitol:“I think that the amplification of social media is something that I deeply worry about. And the targeting tools, the same tools that are used to target in advertising can be used to target for misinformation purposes or extremist purposes. And so I deeply worry about that.”“This was one of the darkest days in our history. And it played out in front of all of us. I felt like it was more of a movie or something, that it was something that was not real, that it couldn’t be happening in the United States of America. And so I’m hopeful that that deep inspection occurs.”On “data thievery”:“I’m appalled by it. And so we’ve got things coming out like a privacy nutrition label. Privacy policies have become these multi-page things that people just blindly say, I agree, so that they can go to the next screen and move on. A privacy nutrition label, much like a nutrition label on food, gives you at a glance some key information. We’ll improve that over time.”On Epic Games:“It’s about living up to the rules and the guidelines of the App Store. And they had done that for years and then had decided evidently that they didn’t want to follow the rules anymore, and had passed something through app review and then after it had been through app review, changed it on the server side. So it was sort of a deceitful move. And so we’re going into court. We’re coming to tell our story. We’re going to talk about the privacy and security aspects of the store. And we’re confident in our case.”On Apple TV+:“We’re making serious investments in Apple TV Plus.”“For the same reason that we’re in products, we’re about making the best, not the most. And so in the TV Plus area, we’re about originals only on Apple.”“We’re putting all of ourselves into it. It is not a hobby. It is not a dip your toe in. Because it’s an original focus, we don’t instantly have a catalog with 500 things in it. We’re going to build over time.”On voting:“I think we’re probably all having the wrong conversation on voting rights. We should be talking about using technology. How can we make it so simple that our voting participation gets to 100? Or it gets really close to 100. Maybe we get in the 90s or something. It’s pretty arcane.”Read More: Apple Loses Bid to Stop Swatch Using Jobs’s ‘One More Thing’ Cue(Updates with Cook’s age in second paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.