Apple 2.0
Live TV: Where to watch the Senate's Apple hearings
May 21, 2013: 9:30 AM ETC-Span's coverage begins at 9:30. Tim Cook will appear in the second segment.
FORTUNE -- If the subcommittee report is any indication, Tim Cook and his colleagues will face tough questions from Sens. Carl Levin (Dem.) and John McCain's (Rep.) Permanent Subcommittee on Investigations.
The report charges that Apple (AAPL) avoided paying roughly $10 billion in U.S. taxes a year by funneling foreign income through a series of Irish shell companies
Apple says it probably pays more Federal taxes than any other U.S. corporation, and that its use of Irish subsidiaries -- regularly scrutinized by the IRS -- is sanctioned by tax laws passed by Congress.
Tune in to C-Span (online or on TV) at 9:30 a.m. ET to watch the hearings gavel to gavel. The cable TV business news channels will probably dip in to catch Tim Cook's testimony later in the morning.
See also:
- Apple vs. Subcommittee: Tim Cook has some explaining to do
- Meet AOI, Apple's mysterious Irish subsidiary
Links:
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Apple vs. Subcommittee: Tim Cook has some explaining to do
It's a good thing for Apple that most people won't read the Senate subcommittee's report.
FORTUNE -- The 40-page case study on Apple's (AAPL) overseas tax strategies submitted by the Senate's Permanent Subcommittee on Investigations Monday is not an easy read.
The 10-page overview of tax principles and law in the middle -- a history of how a program to block the use of offshore tax havens begun by President Kennedy was MORE
Philip Elmer-DeWitt - May 21, 2013 7:33 AM ET -
How Apple sidestepped U.S. taxes: The Senate's version
The results of its probe of Apple's offshore taxes are now available online.
FORTUNE: By Monday afternoon, the day before Tim Cook's scheduled appearance before the Senate Permanent Subcommittee on Investigation, both sides of the story were available online as PDFs: Apple's (AAPL) 17 pages of airbrushed testimony and the subcommitee staff's blistering 40-page retort.
As reader Jim Neal puts it: "Anybody who thinks this is going to be a cordial exchange of ideas MORE
Philip Elmer-DeWitt - May 20, 2013 7:05 PM ET -
Meet AOI, Apple's mysterious Irish subsidiary - updated
In a statement to the Senate, Apple explains -- sort of -- what it's doing in Cork.
FORTUNE -- There are three parts to the 17-page testimony Apple (AAPL) submitted Monday afternoon in advance of Tim Cook's appearance before the Senate Permanent Subcommitee on Investigations, scheduled for Tuesday:
The easy part: A recitation of how much Apple pays in Federal taxes ($6 billion in fiscal 2012), the number of jobs it has created MORE
Philip Elmer-DeWitt - May 20, 2013 5:08 PM ET -
Man who doesn't work for Foxconn kills self. Apple's fault?
A suicide story that broke on Saturday had fallen apart by Monday.
FORTUNE -- The Agence France Press headline that moved over the business wires Saturday morning seemed like deja vu all over again:
Three new factory suicides at Apple supplier Foxconn
Citing only a statement issued by China Labor Watch in New York, the news agency reported that the deaths occurred at a Foxconn factory in the central city of Zhengzhou and MORE
Philip Elmer-DeWitt - May 20, 2013 12:37 PM ET -
An Apple bear calls a bottom
Sees the Inverse Head and Shoulders pattern he's been waiting for.
FORTUNE -- Gotta love these technical analysts.
As William Meade pointed out in Saturday's ETF Daily News post, he never once mentioned Apple's (AAPL) fundamentals during the three months that he was advising his readers -- mostly hedge fund managers -- to sell sell sell.
Now the president of Pure Alpha Research (and former research director at Zacks in Chicago) has changed his MORE
Philip Elmer-DeWitt - May 20, 2013 10:14 AM ET -
Charts of the day: Keep selling Apple and buying Google?
Eight months of what CNBC calls the Great Rotation has led to some odd imbalances.
FORTUNE -- Tuesday marks the eight month anniversary of Apple's (AAPL) all-time intraday high of $705.07 a share, set on Sept. 21, 2012.
Meanwhile, last Friday, Google (GOOG) hit its own all-time intraday high of $919.98 -- just a dinner for two at McDonalds from $925, Google's mean 12-month price target according to Thomson/First Call.
This coincidence may MORE
Philip Elmer-DeWitt - May 20, 2013 7:54 AM ET -
Contrasts: Apple's Tim Cook and Samsung's Lee Kun-hee
The U.S. is suing Apple. Lee's government pardoned him. Twice.
FORTUNE -- With Tim Cook scheduled to testify Tuesday before a hostile Senate subcommittee and the Department of Justice's antitrust trial against Apple (AAPL) set to begin the following week, this might be a good time to contrast how the U.S. and South Korean governments each treat their country's most valuable company.
Apple:
Cook is expected to be questioned sharply next week MORE
Philip Elmer-DeWitt - May 19, 2013 7:00 AM ET -
Photomontage of the day: The world of wearable computers
Forget those Galaxy S4 ads, says Credit Suisse, wearables are "the next big thing."
FORTUNE -- Computers one wears, rather than carries in a briefcase, backpack or pocket, are at an "inflection point" -- a market poised to explode from $3 billion to $5 billion today to as much as $30 billion to $50 billion in three to five years.
That's according to a Credit Suisse report snagged Friday by Barron's Tiernan Ray.
The theory is that MORE
Philip Elmer-DeWitt - May 18, 2013 9:39 AM ET -
How devoted are Apple users to the Apple ecosystem?
Very, according to a new Forrester survey. Microsoft and Google don't fare as well.
FORTUNE -- According to a Forrester survey released this week, the vast majority of computer users (85% worldwide, 88% in the U.S.) have little or no loyalty to a particular mobile computing ecosystem -- the nexus of devices, software, services and sheer muscle memory that tie a user to one vendor or another.
Among those users who show MORE
Philip Elmer-DeWitt - May 18, 2013 6:57 AM ET
