The Securities and Exchange Commission probes Apple over Steve Jobs’ health

U.S. regulators are examining Apple Inc.’s disclosures about Chief Executive Officer Steve Jobs’s health problems to ensure investors weren’t misled, a person familiar with the matter said. The Securities and Exchange Commission’s review doesn’t mean investigators have seen evidence of wrongdoing, the person said, declining to be identified because the inquiry isn’t public. Bloomberg News reported last week that Jobs is considering a liver transplant as a result of complications after treatment for cancer, according to people who are monitoring his illness. Investors have been pressing for information on Jobs’s health since June, when he appeared noticeably thinner at an Apple event. The company’s stock whipsawed this month after Jobs, who battled pancreatic cancer in 2004, said he would remain CEO while seeking a “relatively simple” treatment for a nutritional ailment. Nine days later, Jobs said he would take a five-month medical leave after learning his health issues were “more complex.” “The good news flipped by the bad news makes one wonder what Apple knew,” said James Cox, a law professor at Duke University in Durham, North Carolina. “It’s not surprising for the SEC to come in and look afterward, given the pressure and publicity regarding their handling of a lot of cases,” such as criticism of the SEC’s response to Bernard Madoff’s alleged $50 billion Ponzi scheme. SEC spokesman John Nester declined to comment on the Apple inquiry. Steve Dowling, a spokesman for Cupertino, California- based Apple, declined to comment. Apple will report first-quarter earnings after the market close today, followed by a conference call at 5 p.m. New York time. Shares Rose Apple’s shares rose 4.2 percent on Jan. 5 after Jobs said he had been diagnosed with a hormone imbalance that caused him to lose weight throughout 2008 and “that has Continue Reading

Apple to the core: Tim Cook is hailed as Steve Jobs’ able deputy

Apple boss Steve Jobs is prone to fits of passion, table pounding and screaming. Tim Cook, who will oversee the company while Jobs takes medical leave, never raises his voice.Yet Cook's management style won't be a big shift for employees. He's been quietly running the company for several years, said Mike Janes, who worked with the exec for five years at Apple. "Steve is the public face of Apple and nothing beats [it] when he goes out and says, 'Ta-da!'" said Janes, who ran Apple's online store. "But at the end of the day, someone has to take all those amazing product designs and turn them into that big pile of cash you see in the company's bank account. That's Tim." Known for marathon meetings and late nights at the office, Cook, 48, will try to keep Apple running smoothly until Jobs' planned return in June - all while reassuring investors that he shares Jobs' flair for marketing and innovation. Jobs, 53, has personified Apple since he returned to the company in 1997 that he helped co-found. Cook, who earlier worked for IBM and Compaq, has filled in for Jobs before - during the CEO's cancer treatment in 2004. Jobs underwent surgery for a rare form of pancreatic cancer that year, keeping him away from Apple for more than a month. Cook's earlier stint should help calm investors' concerns, said Michael Gartenberg, an analyst at Jupitermedia. "He has significant responsibility for making sure the trains run on time," he said. "It worked out fine for Apple the last time it happened. We've no reason to believe it won't this time." After plunging nearly $10 a share Wednesday night in after-hours trading soon after Jobs' leave from the company was announced, Apple shares initially sold off sharply yesterday before rebounding. They finished down $1.95 at $83.38. Join the Conversation: Continue Reading

Steve Jobs be proud! Melinda Gates, wife of Microsoft co-founder Bill Gates, covets the Apple iPhone

Who doesn't want an iPhone these days?  Apparently, almost no one, as even Melinda Gates, wife of Microsoft co-founder, Bill Gates, wants one."Every now and then I look at my friends and say 'Ooh, I wouldn't mind having that iPhone,’ "she told Vogue.Unfortunately for her, the device is banned in the Gates household."There are very few things that are on the banned list in our household. But iPods and iPhones are two things we don't get for our kids," she told the magazine.Steve Jobs, looks like you have done your job.  The wife of one of your alleged business rivals covets Apple products.  Bill and Melinda Gates run the charitable organization, the Bill & Melinda Gates Foundation.  To learn more about their foundation, visit  Join the Conversation: Continue Reading

Apple’s Steve Jobs ‘heart attack’ online story makes ‘citizen journalism’ look bad

Shares of Apple Inc. briefly tanked this morning following unconfirmed reports - later proven false - that Chief Executive Officer Steve Jobs had a heart attack and was in the hospital. The reports are "not true," Apple spokesman Steve Dowling said in an interview. According to, the report appeared on CNN's iReport and was not taken down until 20 minutes after alleyinsider published Apple's denial. The story was then removed.CNN later released an official statement saying it removed the story after the "community" brought it to their attention. Alleyinsider notes that CNN described the story as "fraudulent" as opposed to "inaccurate."RELATED: APPLE UNVEILS CHANGES TO IPOD LINEUP AND ITUNESThe shares fell as much as 5.4 percent after a post on a citizen journalist Web site, citing an anonymous source who said Jobs was rushed to the hospital after suffering a "major heart attack." RELATED: APPLE 3Q PROFIT JUMPS 31% BUT STOCK DROPSJobs's health has been an issue of concern for investors since he had surgery four years ago to treat pancreatic cancer. He appeared visibly thinner at a company event in June, raising speculation he was ill. RELATED: APPLE SELLS 1M NEW IPHONES IN OPENING WEEKENDJobs told members of Apple's board in July that he is cancer-free and dealing with nutritional problems after his cancer surgery, which can lead to weight loss, according to a published report, citing people close to Jobs. By around 10 a.m. Eastern time, shares of Apple, based in Cupertino, California, had risen $1.84, to $101.94, on the Nasdaq. Join the Conversation: Continue Reading

Apple is making good on Steve Jobs’ vision for services

SAN FRANCISCO — Apple is synonymous with hardware, and certainly its fortunes can rise and fall with sales of its best-selling device, the iPhone. Yet all those dollars and cents consumers pay for iTunes, Apple Music and Cloud storage are adding up to big numbers.When Apple announces its fiscal second quarter results late Tuesday, Apple Services will once again be a major story line. It is turning into a $7 billion sales machine for Apple and in three years could account for nearly one-third of the company's sales.This should spice up what is typically Apple's quietest quarter — the proverbial intermission between its blockbuster holiday season and the latest, greatest iPhone announcement in the fall. Financial analysts predict a bump in revenue and sales primarily because of growth in Apple Services.It's part of an evolving strategy at Apple that started 16 years ago with then-CEO Steve Jobs, who determined enhanced services integrated into hardware not only improved sales but was crucial in keeping customers within Apple's ecosystem, says Tim Bajarin, an analyst at Creative Strategies who covers Apple."(Apple's) investment in services will only increase and will drive how they design future hardware to maximize these new services and more closely tie them to their hardware designs," Bajarin says.For people with an Apple device in their pocket or on their desk, this means more reason to spend time, and money, on their device — viewing content, listening to music, using apps, making online purchases.Angelo Zino, a senior equity analyst at CFRA Research who has a "strong buy" on Apple shares, forecasts an 18% jump in Service-related revenue to $7.07 billion.For the quarter ending in March,  analysts polled by S&P Global Market Intelligence estimate earnings of $2.02 per share on revenue of $53 billion, compared with $1.90 and $50.6 billion, respectively, in the same quarter a year Continue Reading

Apple CEO Steve Jobs unveils the iPhone in 2007

(Originally published by the Daily News on January 10, 2007. This story was written by Greg Wilson.) Apple brought its vaunted "cool factor" to the cellular world yesterday, unveiling the iPhone, a sleek mobile phone, camera, music player and Web surfing device company founder Steve Jobs said will "reinvent" the industry. The high-tech pioneer also wowed Apple legions - and Wall Street - with a new wider-screen iPod that will transmit downloaded movies to your TV from your computer. But it was the phone - set to be available in June starting at $499 for a 4-gigabyte model - that commanded the spotlight at the annual Macworld convention in San Francisco. Jobs, with characteristic bluster, said the device makes competing smart phones such as BlackBerry and Q a "waste of time." "Every once in a while a revolutionary product comes along that changes everything," Jobs said. "It's very fortunate if you can work on just one of these in your career. ... Apple's been very fortunate in that it's introduced a few of these." The rectangular phone's entire front surface is a touch screen, and all of its functions are activated by touch. It's not the first cell phone capable of playing music, but predecessors like Motorola's Rokr, which used Apple's iTunes software, could only hold 100 songs. The black and buttonless iPhone, for which the company sought 200 separate patents, will hold up to 2,000 songs. The name caught some Apple watchers by surprise. While the company is world renowned for its iPod and iMac, the trademark for iPhone had been owned by Cisco Systems. But the Internet networking giant apparently reached a deal with Apple for rights to the name. The New York Daily News published this article on Jan. 10, 2007. Demonstrating the phone in his presentation, Jobs played a voicemail from former Vice President Al Gore congratulating Jobs on the iPhone. Gore, an Apple board Continue Reading

Steve Jobs refused Apple CEO Tim Cook’s offer to donate his liver to dying boss

A dying Steve Jobs refused a liver donation from his Apple successor, Tim Cook, and "yelled" at him for offering, according to an upcoming biography. Apple's current CEO discovered he had the same rare blood type as Jobs, who was suffering from pancreatic cancer, in 2009, according to "Becoming Steve Jobs." He decided to donate a portion of his liver, a regenerative organ, to Jobs and went to his Palo Alto, Calif., house to share the good news. But Jobs did not want to take a liver from his healthy employee, according to an excerpt published on Fast Company, where the book's authors Brent Schlender and Rick Tetzeli work. "He cut me off at the legs, almost before the words were out of my mouth," Cook said. " 'No,' he said. 'I'll never let you do that. I'll never do that.' " Cook said that Jobs yelled him, something he had done only four or five times in the 13 years they knew each other, according to the book. "Somebody that's selfish doesn't reply like that," Cook said. "I mean, here's a guy, he's dying, he's very close to death because of his liver issue, and here's someone healthy offering a way out." Jobs underwent a liver transplant from a donor's list in April 2009, the same year he took medical leave from Apple. He resigned in August 2011 and died two months later at the age of 56. ‘Becoming Steve Jobs’ is set to be released March 24. Join the Conversation: Continue Reading

DISNEY PULLS IN PIXAR. 7.4B deal makes Steve Jobs top shareholder

DISNEY'S PULLED OFF an "Incredible" deal. "The Lion King" and "Nemo" will be under one roof now following Disney's $7. 4 billion all-stock deal to acquire animation powerhouse Pixar. Pixar chief Steve Jobs, will become Disney's biggest individual shareholder and will get a seat on the company's board. The Apple Computer chief who sparked a revolution in media and entertainment with the iPod, is expected to use his muscle to pump up Disney as it continues to explore digital deals. John Lasseter, the creative force behind Pixar's hit-making machine, has been named chief creative officer of the Disney Pixar animation studios. Pixar's president, Ed Catmull, was named president of the cartoon-making studio. By acquiring Pixar, Disney chief Bob Iger is looking to vault Disney from animation laggard to box office champ. While Disney long ago forfeited its animation crown thanks to bombs like "Treasure Planet," Pixar has ruled for more than a decade with computer animated megahits like "Toy Story," "The Incredibles," and "Finding Nemo. " A current co-production and distribution deal between the two was set to expire this summer after the release of "Cars," and Jobs was threatening to walk. "Nothing has created as much value (for Disney) as great animation," Iger told analysts in conference call yesterday. "Pixar has created some of the most memorable, high-quality films of this genre. " Jobs praised Disney's distribution assets, including its theme parks. "This looked to be the most exciting path to Pixar's future," he said on the call. Disney will issue 2. 3 Disney shares for each Pixar share. Disney closed yesterday at $25. 99, up 47 cents. Pixar closed Tuesday at $57. 57, down 70 cents. The $7. 4 billion Disney is paying includes about $1 billion of Pixar cash. The price was somewhat higher than Wall Street had expected. "It's a full price," said Peter Goldman, portfolio manager at Chicago Asset Management, which owns Disney shares. Continue Reading

First trailer for new biopic ‘Steve Jobs’ premieres

So long "Mad Men," hello Mac man. The first trailer for the upcoming biopic "Steve Jobs" premiered during the "Mad Men" finale Sunday, giving fans a first look at Michael Fassbender as the iconic Apple founder. Set to a tense, swelling, symphonic score, the trailer opens with a voiceover of Jobs predicting an event that will "shift the world on its axis." Moments later, Apple co-founder Steve (Woz) Wozniak, played by Seth Rogen, is heard ripping into the tech visionary, who launched the company in his parents' Los Altos, Calif., garage in 1976. "You can't write code. You are not an engineer. What do you do?" Woz asks. "The musicians play the instruments. I play the orchestra," Jobs replies. Other stars of the film include Kate Winslet as former Macintosh marketing executive Joanna Hoffman, Jeff Daniels as ex-Apple CEO John Sculley and "Inherent Vice" star Katherine Waterston as Jobs' ex-girlfriend, Chrisann Brennan. "Set backstage at three iconic product launches and ending in 1998 with the unveiling of the iMac, the film takes us behind the scenes of the digital revolution to paint an intimate portrait of the brilliant man at its epicenter," Universal said about the film. Directed by "Slum Dog Millionaire" and "127 Hours" lensman Danny Boyle with a screenplay by Aaron Sorkin, the movie is adapted from Walter Isaacson's biography of the same name. It hits theaters Oct. 9. ON A MOBILE DEVICE? WATCH VIDEO HERE Continue Reading

‘American Genius’ review: Cybergiants Steve Jobs and Bill Gates’ rivalry makes a compelling tale

Steve Jobs vs. Bill Gates. When you’re launching a series called “American Genius,” or more specifically the rivalries between select geniuses, these two guys qualify on every count. Jobs co-founded Apple. Gates co-founded Microsoft. The series starts from the premise that many of the greatest inventions were made greater by competition between aspirants. The Wright Brothers, for instance, were pushed by a fellow believer in the potential for flight, Glenn Curtiss. Beyond the value of two brilliant minds focusing on the same subject, “American Genius” argues convincingly that these people are often highly competitive. They want to win, and will push every limit to do so. That thesis seems indisputable for Jobs and Gates, as neither is short on drive, skill or ego. They didn’t shape personal computers, smartphones and other portable information and entertainment devices all by themselve. But they were instrumental enough at development and marketing that they became two of the richest people in the world. Happily, “American Genius” notes, some of the money from that success even trickled down. “Genius” relates how at one point Gates stole a key concept from Jobs and developed a product himself. That sort of behavior helped lay the groundwork for Gates’ and Microsoft’s reputation as corporate bullies. To soften that image, Gates created a huge charitable foundation. So unless you’re among those who think Apple is elitist and precious, or that Microsoft remains a bully run by arrogant geeks, Jobs vs. Gates did produce some victories all around. Join the Conversation: Continue Reading