Analysts cut iPhone X shipment forecasts, citing weak demand Apple looks like it's having a not-so Merry Christmas. Analysts have lowered iPhone X shipment projections for the first quarter of next year, citing signs of lackluster demand at the end of the holiday shopping season. Sinolink Securities Co. analyst Zhang Bin said in a reportMondaythat handset shipments in the period may be as low as 35 million, or 10 million less than he previously estimated.(Ad Age)
Apple faces class-action lawsuits over slowed-down iPhones IPhone owners from several states have filed at least nine class-action lawsuits against Apple Inc. for not disclosing sooner that its software updates deliberately slowed down older-model phones so batteries would last longer. The lawsuits – filed in U.S. district courts in California, New York and Illinois – allege that Apple’s silence led the iPhone owners to wrongly conclude that they had to buy newer, pricier iPhones instead of simply replacing the battery.(Los Angeles Times)
EU opens investigation into Apple’s acquisition of Shazam The European Union opened what it called an in-depth investigation into Apple’s proposed acquisition of London-based music identification service Shazam, E.U. regulators announcedMonday. Regulators are concerned the acquisition could reduce choice for music streaming services, they said in a press release. “The way people listen to music has changed significantly in recent years, with more and more Europeans using music streaming services,” E.U. commissioner Margrethe Vestager said.(Variety)
Apple says it will buy back $100 billion in stock Powered by sales of its iPhone X, the tech giant reported another strong quarter and defied fears that consumers wouldn’t buy the pricey devices. (New York Times)
Warren Buffett's Berkshire Hathaway goes even bigger on Apple Warren Buffett's Berkshire Hathaway upped its stake in Apple in the first quarter of 2018, adding 75 million shares of the consumer tech giant's stock. The additional shares add to the more than 165 million Apple shares Berkshire owned at the end of 2017. (Business Insider)