Tim Cook, boss of Apple, is having a rough start to 2024. In the past month his company has faced an unusual barrage of unpleasantness. A patent dispute forced it to remove features from two of its smartwatches. It found out that America’s Department of Justice (DoJ) would be suing it over antitrust transgressions. And it reported that it was losing market share in China, its second-biggest smartphone market. Adding insult to injury, a few Wall Street analysts said something unthinkable until recently—that Apple’s shares were overvalued. On January 11th Microsoft, a rival tech titan, duly dethroned the iPhone-maker, temporarily, as the world’s most valuable company.
The run of bad news may continue on February 1st, when Apple reports its latest quarterly earnings. Equity researchers estimate that its revenues barely grew in the last quarter of 2023, if at all. Then, on February 2nd, Apple will be tested once again. It will start shipping the Vision Pro, an augmented-reality (AR) headset that it has been working on—and talking up—for a few years. The high-end gadget, which will sell for $3,499, represents a big bet on a new technology “platform” that, Apple may be hoping, could one day replace the smartphone as the core of consumers’ digital experience—and the iPhone as the source of its maker’s riches. Early indications hint that Apple should worry about the device’s prospects. Netflix, Spotify and YouTube have announced that they will not make their popular streaming apps work on the headset. None said why. But it could be because they all compete with Apple’s own streaming services, and developing an AR app is likely to be costly.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Reduction of energy costs in the telecom sector
With telecom infrastructure companies looking for newer ways to cut back on energy costs, battery restoration technology provides telecom infrastructure firms with a viable, economical and green solution for uninterrupted power supply
Skip cheese and sip wine in Switzerland
Beyond chocolates and cheese, there's another Swiss gem to discover — vineyards that have been passed down through the generations
Bankers aren't always frank about bank regulation
The 'world's banker' Jamie Dimon, CEO of JPMorgan Chase, speaks his mind even if it means taking swipes at US regulators.
Baku: A climate breakthrough looks depressingly bleak today
The success of fossil fuel-favouring politics threatens the planet
Global solidarity levies can play a vital role in our climate efforts
Solidarity taxes could support redistributive measures and optimize how we collectively tackle a great challenge of our times
Speak for the Earth: It's the least we should do
This year's Booker prize winner turns our gaze to the planet from orbit and reminds us of the climate disaster that looms. Can odes sung to Earth move the world to act in its defence?
Aim for an efficient carbon market right from the start
India's economy is projected to grow dramatically over the next few decades. In nominal terms, it may double in size by 2030. This is exciting, but it comes with a significant risk.
Why health insurers refuse to cover certain treatments
While 12 modern treatments are covered, many advanced procedures are yet to be included
Address economic distress with structural reforms and not doles
Cash transfers may offer short-term relief but raising worker incomes is the only lasting solution
FUNDING FOREIGN EDUCATION: SHOULD YOU SAVE OR BORROW?
Education financing needs vary, but early planning is key to building your desired corpus
