Dow 30 component Apple (AAPL) has revolutionized personal technology with the introduction of the Macintosh in 1984. Today Apple leads the world in innovation with iPhone, iPad, Mac, Apple Watch and Apple TV. Apple’s four software platforms — iOS, macOS, watchOS, and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay and iCloud. Apple’s more than 100,000 employees are dedicated to making the best products on earth, and to “leaving the world better than they found it.”
Unfortunately, Apple was charged with a new lawsuit of securities fraud on Tuesday in the federal court in Oakland, California by the City of Roseville Employees’ Retirement System. The complaint seeks damages for investors who purchased Apple’s stock in 2 months prior to CEO Tim Cook Jan. 2 proclamations to reduce Apple’s quarterly revenue forecast by as much as $9 billion. iPhones were facing low demand in China due to in part to the trade relationship between the U.S and China.
Apple refused to comment immediately on the charges. However, Tim Cook and Luca Maestri, CFO were accused as defendants in the case.
Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.
Stay Informed! Stay Competitive! Sign Up to receive FREE email updates here!