News Archive for 05/06/03

Choose an article from the archive listing on this page or refine your selection using the controls in the gray box below.

AAPL falls on fears of iPod overstocking

06/03, 4:00pm

AAPL falls

Shares of Apple fell five percent today following a report published by AppleInsider that Apple is seemingly overstocked on most iPod models with about a month remaining in its third fiscal quarter. Most Mac models are also following a similar trend, the report said. Shares of Apple fell yesterday after it was reported that as many as 2 million people who purchased iPods before May 2004 may be able to file claims under a settlement preliminarily approved by a San Mateo, California, Superior Court judge. Goldman Sachs yesterday maintained an "in-line" rating on Apple, saying it expects little sequential growth from the company's iPod line.

Apple Announces free iPod recycling program

06/03, 3:30pm

iPod recycling program

Apple has announced a free recycling program for the iPod. Beginning today, customers can bring iPods they no longer want to any of Apple’s 100 retail stores in the US for free environmentally friendly disposal, and those who drop off an iPod, iPod mini or iPod photo will receive a 10 percent discount on the purchase of a new iPod that day. iPods received for recycling in the US are processed domestically and no hazardous material is shipped overseas. In April, environmentalists lashed out at Apple for its environmental practices. Shortly thereafter, Apple CEO Steve Jobs shot down criticisms about the company's environmental practices.

WWDC may bring new flash iPods, iTunes phone

06/03, 11:50am

WWDC flash iPods

Banc of America Securities maintained a "buy" rating and $44 target price on Apple, saying the company will likely use its Worldwide Developer's Conference to introduce 2-gigabyte and 4-gigabyte flash iPods. The event may also showcase the long-awaited iTunes-enabled cell phone from Motorola. "We do not see a video-enabled iPod at this event," Banc of America said. "Video content continues to be a challenge for Apple/iPod." The research firm said new flash products won't be enough to materially impact the stock.

AAPL down after iPod battery news

06/03, 11:05am

AAPL down

Shares of Apple fell $1.89 to $38.15 after it was reported that as many as 2 million people who purchased iPods before May 2004 may be able to file claims under a settlement preliminarily approved by a San Mateo, California, Superior Court judge. The lawsuits claimed that Apple misrepresented the iPod battery's playing life. Apple said it will issue $50 vouchers or warranties as part of a settlement with customers that had problems with the digital-music player.

Ive awarded in U.K. for "engineering excellence"

06/03, 9:45am

Ive awarded

Jonathan Ive, iPod designer and vice-president of industrial design at Apple, won the coveted President's Medal for his contribution in promoting engineering excellence with the design of the iPod. The award was handed out at a ceremony in London, which was attended by the U.K. government's minister for science, Lord Sainsbury. The U.K.'s engineering body also awarded CSR the prestigious MacRobert award for its single-chip BlueCore technology. The President's Medal is given on an to people or organizations who have made "significant contributions to the Academy's aims of promoting engineering excellence," but are not eligible for election to the Academy.

Salon.com: iPod a product of globalization

06/03, 9:20am

iPod outsourcing

The PortalPlayer microchip that runs Apple's popular music player is made in India, Taiwan, China and Silicon Valley, explains Salon.com, in a recent article on outsourcing and the iPod. "Is this an example of how globalization works to everyone's benefit -- or a sign that the world economy is about to roll over America?" Headquartered in the U.S., PortalPlayer got its chip into the iPod "by outsourcing or subcontracting every possible step of design and manufacturing." PortalPlayer's software, however, was made at least partly in the U.S. "When we talk to our customers," says PortalPlayer's Michael Maia, "what I say is, we're a firmware development house but we also sell semiconductors." That software, according to Salon staff writer Andrew Leonard, is "PortalPlayer's competitive advantage, the intellectual property that makes songs on your iPod sound good and the device easy to use." The code is written by PortalPlayer's developers in Santa Clara and Kirkland, and at its fully owned subsidiary in Hyderabad, India. "Everything else that can be spun off, is."