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Apple is an American computer corporation founded in 1976 in California by Steve Jobs and Steve Wozniak. The company designs, makes, and markets personal computers, mobile phones, and music players. It sells proprietary software to augment its devices, as well as peripherals and contracts with third-party developers. The company’s products include the iPhone, iPad, and iPod, as well as its line of Macintosh desktop and laptop computers which run on its signature OS X operating system.

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21 Jul, 2015

Stock down 7%

iPhoneTim CookFinancial Report0 Comments

Apple stocks fall 7% after it releases its third quarter financial report showing that iPhone sales were lower than investors expected. Even though revenue is up 33% at $49.6 billion, iPhone sales are short 1.3 million units than expected in part due to low inventory. iPhone sales make up half of Apple’s revenue. CEO Cook:

Channel was down by 600,000. We sold more units than we thought we would. We always run with just the inventory we thought we need. In this quarter, we were able to end right at the bottom end of our range. Revenue would have been higher if we expanded channel, but that’s not how we think of the business.

12 Dec, 1980

IPO creates 300 millionaires

Steve JobsIPO0 Comments

apple_logo_nasdaq-x-largeApple launches its IPO on  the NASDAQ selling 4.6 million shares at $22 per share.  As soon as the bell rung in the NYSE about 300 millionaires were instantly created, some 40 of which are Apple employees and investors. Steve Jobs, the largest shareholder, made $217 million dollars alone.