Here is your daily Apple (NASDAQ: AAPL) stock news and rumors for July 21, 2010. Shareholders still sore from last week’s share price dip can rejoice as Apple reported massive third quarter profits today. Meanwhile, the rumor going around the camp fire is that Verizon is about to shake up its pricing and business model for smartphone data plans, possibly adding to the Verizon iPhone smoke signals. Finally, tech company InNova files suit against Apple for patent infringement:
Apple Reports $15.7 Billion in Revenue, $3.25 Billion Profit: AAPL’s earnings report made at market close last night should help quell any fears held by Apple shareholders in the wake of Antenngate. The California computer manufacturer announced monumental financial results for their third quarter in 2010, with $15.7 billion in revenue and a net profit of $3.25 billion. This blows away their earnings for the same period last year. Apple reported just $9.73 billion in revenue in their 2009 third quarter, with a $1.83 billion profit. AAPL pointed to strong international sales and the success of the iPad, iPhone 4, and their line of Macs. As previously reported here at InvestorPlace, Apple has sold 3.47 Macs, 3.27 million iPads, and over 1.7 million iPhone 4’s this quarter.
Verizon (VZ) Shifting Data Plan Model and Pricing in Anticipation of Verizon iPhone: In what some see as further evidence of an impending announcement of a Verizon (NYSE: VZ) iPhone coming from AAPL, the phone service provider is said to be shifting its pricing structure for smartphone data plans. The word from Engadget is that, come next week, Verizon will move to a tiered data plan pricing structure for supported smartphones that is similar to AT&T’s current pricing model, allowing customers to choose a 2GB option for $25 per month or 200MB for $15 per month. Verizon CTO Dick Lynch intimated in January that the company would be switching to tiered, limited data plans, saying that flat rate data plans would not be a tenable business model as the smartphone market continues to grow. This rumor coupled with numerous others about AAPL’s future with VZ indicates the potential for a smooth transition to a new provider for the ever-expanding iPhone user base.
AAPL Named in E-Mail Spam Patent Lawsuit: Tech company InNova has filed a patent infringement lawsuit against 36 companies this week. The suit names Apple and Google (NASDAQ: GOOG) among many others and as having profited off of spam filtering technology developed by InNova early last decade. The patent in question, U.S. Patent No. 6,018,761 titled “System for Adding to Electronic Mail Messages Information From Sources Obtained External to the Electronic Mail Transport Process,” was awarded to InNova in 2000 and it outlines a system that could gather information about emails even if they were free of traditional identifiers like names and addresses. The lawsuit claims that Apple has illegally incorporated this technology into the operating system Apple OS X as well as the email hosting at the domain apple.com.
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