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On July 9, 1997, Gil Amelio was ousted as CEO of Apple by the board of directors. Fred D. Anderson was the head of the directors in short term and obtained short-term working capital from the banks in July 1997. [152] [153] In August 1997, Jobs stepped in as the interim CEO to begin a critical restructuring of the company's product line. [5]
Apple Inc. has been the subject of criticism and legal action. This includes its handling labor violations at its outsourced manufacturing hubs in China, its environmental impact of its supply chains, tax and monopoly practices, a lack of diversity and women in leadership in corporate and retail, various labor conditions (mishandling sexual misconduct complaints), and its response to worker ...
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Apple's AI-powered iPhone 16 has had mixed reviews; its biggest feature is unavailable in China. Chinese smartphone makers like Xiaomi are gaining market share over Apple in the key region.
Cook addressed concerns about falling sales in China, saying, “I remain very optimistic about China over the long term.” Overall, Apple reported earnings per share of $2.18 for the quarter, a ...
During Amelio's tenure Apple's stock continued to slump and hit a 12-year low in Q2 1997 that was at least partially caused by a single sale of 1.5 million shares of Apple stock on June 26 by an anonymous party who was later confirmed to be Steve Jobs. [10] Apple lost another $708 million.
Apple really needs the iPhone 16 to be a hit in China. The company has seen iPhone sales slide in the country this year. Domestic smartphone makers such as Huawei have been eating their lunch.
Greater China is a key market for Apple, with new AI features expected to roll out in April. Wedbush analysts said Apple may partner with Chinese tech firms like Baidu to bring AI to China.