Friday Apple Rumors: Apple Board Pressures CEO Over Innovation

   

daily apple rumors  300x180 Friday Apple Rumors: Apple Board Pressures CEO Over InnovationHere are your Apple rumors and AAPL news items for today:

Tension: With both investors and technology watchers griping about a lack of new Apple (AAPL) products, the company’s board of directors appears to be taking notice, FOX Business says. Sources tell Fox reporter Charlie Gasparino that the board has expressed serious concerns about the pace of Apple’s product launches to CEO Tim Cook. The board is reportedly worried about Apple’s product pipeline and a growing perception in the technology community and on Wall Street that the company has lost its innovative edge since the death of Steve Jobs. Gasparino says that Cook’s job is not at risk yet, but that with Apple’s share price down 35% from last year’s highs, the board is urging Cook do “do something fast.” Apple’s last major product debut was the iPad Mini, which launched in October 2012. Last month, Cook said that the company was preparing to launch a number of new products this fall and next spring. Apple is widely expected to unveil a new flagship iPhone and a lower-cost iPhone next month. It is also expected to launch a next-generation iPad and updated iPad Mini this fall. Rumors continue to circulate that the company is working on a smartwatch and possibly an Apple-branded television set.

apple logo amid circles 630 200x200 Friday Apple Rumors: Apple Board Pressures CEO Over Innovation
Apple Looks Like a Long-Term Winner

Summit: Tim Cook joined other technology executives and computer experts at a meeting with President Barack Obama on Thursday, Politico notes. The president discussed recent revelations about government telecommunications surveillance and its possible impact on civil liberties. It was the latest in a series of meetings between senior level government officials and tech leaders in the wake of revelations that the National Security Agency (NSA) is tracking the digital communications of millions of Americans. White House spokespeople would not reveal what was discussed during the president’s meeting with the technology leaders, which included executives from Google (GOOG) and AT&T (T). The meetings come amid a rising backlash from consumers, civil rights advocates and lawmakers over the breath and legality of the NSA surveillance programs.

Boost: T-Mobile (TMUS) has reported its first rise in quarterly subscribers in several years after adding the iPhone, USA TODAY notes. During the second quarter, the nation’s fourth largest wireless carrier reported a net gain of 688,000 subscribers. During the same period last year, it lost 557,000 subscribers. T-Mobile added the iPhone to the array of phones it sells in April. iPhones comprised 26% of all smartphone sales in the second quarter, followed by Samsung’s Galaxy S4, which accounted for 18% of smartphone sales. The company, which completed its merger with MetroPCS on April 30, also introduced a range of new non-contract service plans.

For more about the company, check out our previous Apple Rumors stories.


Article printed from InvestorPlace Media, http://investorplace.com/2013/08/friday-apple-rumors-apple-board-pressures-ceo-over-innovation/.

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