Did Apple Conceal An iPhone Sales “Slump?”
Dow 30 component Apple (AAPL) has revolutionized personal technology with the introduction of the Macintosh in 1984. Today Apple leads the world in innovation with iPhone, iPad, Mac, Apple Watch and Apple TV. Apple’s four software platforms — iOS, macOS, watchOS, and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay and iCloud. Apple’s more than 100,000 employees are dedicated to making the best products on earth, and to “leaving the world better than they found it.”
Unfortunately, Apple was charged with a new lawsuit of securities fraud on Tuesday in the federal court in Oakland, California by the City of Roseville Employees’ Retirement System. The complaint seeks damages for investors who purchased Apple’s stock in 2 months prior to CEO Tim Cook Jan. 2 proclamations to reduce Apple’s quarterly revenue forecast by as much as $9 billion. iPhones were facing low demand in China due to in part to the trade relationship between the U.S and China.
Apple refused to comment immediately on the charges. However, Tim Cook and Luca Maestri, CFO were accused as defendants in the case.
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