I am not sure but it does seem that apple's stock price has taken a hit. https://finance.yahoo.com/quote/AAPL/ Maybe somebody could enlighten me but the off hours part shows -2.3%, is that a correction because people are losing faith in apple or what exactly? and would these off hours loses get converted to on hour losses or what exactly? (Sorry I could ask AI but I might as well ask here as well) So I had done some…
Bloomberg reported that the shares fell because their sales in China under-performed estimates.
Judge rules Apple executive lied under oath, makes criminal contempt referral
281–290 of 389 posts
Re: Judge rules Apple executive lied under oath, makes criminal contempt referral
#282Link to the court doc: https://storage.courtlistener.com/recap/gov.uscourts.cand.36... > The testimony of Mr. Roman, Vice President of Finance, was replete with misdirection and outright lies. He even went so far as to testify that Apple did not look at comparables to estimate the costs of alternative payment solutions that developers would need to procure to facilitate linked-out purchases. (May 2024 Tr. 266:22–267:…
> So was Roman incompetent or just kissing ass hoping to become the President of Finance Why not both?
Having spent several years at the top levels of an F500 valley tech company, I'm certain a consistent, broad and aggressive posture like that doesn't happen by accident or any lower than EVP. There was a meeting at some point where the Chief Legal Officer basically laid out the options: A) Give in and do what the court ordered, B) Do most of what the court ordered but drag our feet on all of it and 'accidentally' miss some of it where plausibly deniable, C) Make only token concessions to the order while ensuring the actual intent of the order is blocked, delayed or minimized wherever possible.
Someone with an EVP title picked "C" and until that person spends a couple months in jail on criminal contempt, senior execs will never pick "A". The VP Finance going down isn't enough. Until Tim Cook's staff meeting has an empty EVP chair for several months, none of this is serious. They'll just accelerate this VP Finance's options, bonus the shit out of him and consider his "sacrifice" to be collateral damage.
Re: Judge rules Apple executive lied under oath, makes criminal contempt referral
#283My biggest takeaway out of this is Jim Jordan in the Senate trying to sneak through antitrust weakening. From the "free market" party from a senator with at least some shame on the red aisle. It really is open season for buying politicians.
He should be in jail for covering up a sexual abuse scandal, but alas
Re: Judge rules Apple executive lied under oath, makes criminal contempt referral
#284Earlier quoted context omitted.
Given that the CFO encouraged Cook to violate the court order tells me that they calculated that 1. Any fines for not complying would be less than what they would lose by complying 2. That no individual would suffer any consequences for blatantly disobeying a court order. In my opinion, the whole concept that a company can break the law but no human can be held responsible is insane. I really hope that criminal charg…
> I really hope that criminal charges are brought against those involved in making a conscious choice to both lie to the court and ignore the court order. I do as well, but I have little hope that it will. Prosecutors don't like prosecuting perjury. It's tricky to prosecute (particularly because of how close it is to the first amendment), takes a lot of time, and often it just ends up with a minor slap on the wrist.…
It is tricky to prosecute and prosecutors don't like it but perjury rarely has anything to do with the first amendment.
Re: Judge rules Apple executive lied under oath, makes criminal contempt referral
#285Earlier quoted context omitted.
The funny thing is they have 2x consumer class actions (US + UK) alleging these 30% fees were always a ripoff, they just became a slam dunk so that’ll be tens of billions they have to pay back!
Genuine question as I'm seeing this sentiment a lot in these threads, and I must be missing something. What you've just described would be the single greatest punishment to an entity in the (admittently recently established) history of case-law, would upend the tech sector (maybe justly), lay off 10s of thousands and effectively stop work at downstream supply chains. I get that this is the point of the punishment. Ho…
It would only be “the greatest punishment” because it is a subset of what Apple was able to obtain with their illegal methods. They billed hundreds of billions in fees.
Re: Judge rules Apple executive lied under oath, makes criminal contempt referral
#286>Internally, Phillip Schiller had advocated that Apple comply with the Injunction, but Tim Cook ignored Schiller and instead allowed Chief Financial Officer Luca Maestri and his finance team to convince him otherwise. Cook chose poorly. The real evidence, detailed herein, more than meets the clear and convincing standard to find a violation. Judging by tech, apple is right now in deep water due to the failure of deli…
Apple might still appeal to a higher court and lean heavily on that donation to Trump for legal support. They as much as said they would appeal the decision.
Re: Judge rules Apple executive lied under oath, makes criminal contempt referral
#287Earlier quoted context omitted.
The irony in that is pretty funny tbh
It's also proof that antitrust laws are beneficial, if only they were enforced (a lot) more seriously and frequently and uniformly.
It's really hard to argue counterfactuals on this one. Perhaps the smartphone would have been built by Google anyway. I can't really imagine how, given the state of the mobile phone market at the time of the iPhone's release.
Re: Judge rules Apple executive lied under oath, makes criminal contempt referral
#288Earlier quoted context omitted.
Bloomberg reported that the shares fell because their sales in China under-performed estimates.
Did Bloomberg report that share prices fell because their sales in China under-performed estimates, or while/as their sales in China under-performed estimates?
Re: Judge rules Apple executive lied under oath, makes criminal contempt referral
#289Earlier quoted context omitted.
Bloomberg reported that the shares fell because their sales in China under-performed estimates.
Did Bloomberg report that share prices fell because their sales in China under-performed estimates, or while/as their sales in China under-performed estimates?
Re: Judge rules Apple executive lied under oath, makes criminal contempt referral
#290Tim Cook has overstayed his welcome. He should have left years ago at this point. That plus the fact that all his successors are built on the same nondescript mold he came out of, does not bode well for the strategic vision of Apple.
I know Tim does a better job, but he is the mirror image of his counterpart at Google. Made from the same mold. Great peace time substitutes, lousy leaders.
A few months back everyone was writing the eulogies for Google and how they fumbled AI. Now Gemini is one of the top models (if not the best) and it is extremely capable and price competitive
Meanwhile Apple is still trying to wrap the head around AI. (Didn't stop them from making a splashy marketing campaign though)
So no, both companies are not the same.