Apple Faces Second Class Action Lawsuit Threat Over Failing to Warn Investors About Slowing iPhone Demand

[InnocenceMyth]

I have no problem with this, keep them coming. Enjoy the lawsuits.

You reap what you sow, Apple.

I just spoke to Apple in person about your post and Apple was actually shaking with fear and shame. I’m assuming the shame had to do with whatever you’re referring to with the reap/sow comments. I said, “Apple, not even your billions in the bank or wild profitability will help you now” and Apple just nodded and went away but I’m sure I heard it giggling at the end.

 

[bobenhaus]

It's the stock-exchange, the unregulated casino - what did people expect?

oh so you are saying its ok for Apple to play with other peoples money without being transparent?

 

[macfacts]

No, investors are the ones who want more and more profit. That’s how this works.

Go read about how much Visa, Disney or AT&T have increased prices. This isn’t an Apple thing. It’s the life of a publicly traded company.

Welcome to business.

Those other companies you listed didn't say to their investors "buy, buy, buy." Tim basically said that 2 months ago.

 

[partsofspeech]

Every customer of any Apple products should have rights to vote some of these greedy short-term investors out. When they don’t like their Apple stocks, they can easily sell the stocks. But can we Apple users sell our iPhones or Macs as eaisly when we don’t like the pictures they take?

 

[Romeo_Nightfall]

Had investors knew of slowing sales, whether they would have filled the gap in revenue by making bulk purchases of iPhones? What if Apple posted higher than expected revenue, still they would go after Apple or only when it is lower?

Really?
There are rules, it’s that simple.

 

[partsofspeech]

It's nothing to do with the actual slowing down of sales, it's the fact that 2 months ago Tim Cook came out and said growth was in double digits for iPhones, yet they had to give their first profit warning in 17 years due to "lower than anticipated iPhone revenue".

Which is it? Are iPhone sales showing double digit growth, which linked to higher price tiers should mean far higher revenue, or are the sales not that good and you inflated your expected results in order to increase investment?

Apple's value has increased to what it was, the first $1T American company based on year on year improvements financially. Investors couldn't get enough of it, and neither could the public. Then things changed and Apple tried to hide it by not giving sales figures in the reports and the investors saw right through it.

It’s a waste of time for Cook to try to kiss the rear end of Wall Street. He should really listen more intently to the true foundation of Apple - aka content creators.

 

[StellarVixen]

Bronstein, Gewirtz & Grossman

WOW! Can it get any better than this? You couldn't come up with something better even if you tried!

 

[Baymowe335]

I don't think Apple expected the backlash to be so large. It's like they've had their head in the sand regarding screen size, headphone jack, and pricing.

Looks like you don't really understand what's going on or didn't read the story.

This is almost entirely related to China and emerging markets. Perhaps price is a factor, but it sure wasn't in America, Canada, Germany, Italy, or Korea where Apple hit record revenues.

The headphone jack and screen size are non factors.

 

[sracer]

Anyone can threaten a lawsuit. That doesn't mean it has any merit.

Lawsuits, or the threat of one, seems to be the only way to get Apple to address issues it tries to avoid and ignore.

 

[Baymowe335]

Those other companies you listed didn't say to their investors "buy, buy, buy." Tim basically said that 2 months ago.

First of all, you have no idea what they said because you didn't listen to the investor calls. Guaranteed.

Second, Cook or any CEO never saiy the word "buy"...CEOs are extremely bullish when their companies put up numbers like Apple did in Q4. The numbers Apple put up just 2 months ago were incredible. Every metric.

I am a DIS investor too. Iger is perhaps even more bullish on conference calls than Cook.

 

[TimB21]

We need fewer lawyers.

 

[macfacts]

I find it hard to believe Tim did not know China's economy was slowing down when he was looking to move high end iPhone production to India.

 

[Jimmy James]

Stock price puffed up by investor’s artificially inflated hopes and dreams.

 

[The Game 161]

Lol this is hardly news worthy...just another lawsuit

 

[nStyle]

I'm not defending Apple, I just think this case is bogus. "Guidance" numbers are pretty stupid to begin with and they're just a guess.

"Failing to warn investors" is stupid. Yeah, let us just use our crystal ball and tell you whether something in the future will happen or not. It's not up to a company to hold someone's hand in deciding whether to invest or not.

 

[Rogifan]

When the Cell phone companies subsidized phones, I would upgrade every 2 years because it would cost me $200-$300 every 24 months plus selling the old one, I'd do ok. Now that I have to pay the actual cost, I'm keeping my 6s until 2020 or whenever the 5g phones come out. The technology is amazing in these things and it's like having a computer in your pocket but I'm starting to keep my apple products longer and longer because the prices are high.

But it didn’t cost you only $200. Part of your monthly bill included paying off the price of the phone. And now pretty much every cell phone provider is on installment plans where you’re paying $20/$30 a month for the phone. I actually prefer this as once the phone is paid off you’re done paying the monthly installment fee. Also the upfront cost isn’t $199 or $299 it’s tax plus activation fee and sometimes the carriers will wave the activation fee.

 

[skinned66]

Stocks are also subject to caveat emptor. If these lazy pricks did their own research instead of expecting Apple to give them investment advice maybe they'd find themselves a whole lot less whiny. I hope Apple prevails over these parasites.

 

[hbenitez09]

This is nuts. I think even they were caught off guard...... but none the less to any investor it’s been clear that China has been a challenge for Apple for years. Think the best year was the first year they made the Plus models.

I lost a lot in Apple stock but these lawsuits are a joke. As an investor you enter the markets knowing you can both lose and gain value

 

[nickgovier]

.

 

[mac_in_tosh]

Had investors knew of slowing sales, whether they would have filled the gap in revenue by making bulk purchases of iPhones? What if Apple posted higher than expected revenue, still they would go after Apple or only when it is lower?

I think the issue is that a publicly traded company has responsibility to give accurate information about their business.

 

[eoblaed]

Ah, yes. Investors suing Apple for not having a crystal ball and being able to perfectly predict the future at all times. What a joke.

 

[HacKage]

It’s a waste of time for Cook to try to kiss the rear end of Wall Street. He should really listen more intently to the true foundation of Apple - aka content creators.

Content creators aren't what made it worth $1T.

 

[mikethemartian]

It's the stock-exchange, the unregulated casino - what did people expect?

The stock market is regulated. Anyone who took a real Finance 101 course taught at the college level would know the difference between investing in the stock market and speculating in the stock market.

 

[partsofspeech]

Content creators aren't what made it worth $1T.

The reasonging in your post reminds a joke. A fool ate bread. He still felt hungry. He ate a steak, still feeling hungry. Finally, he had a cake and felt not hungry anymore. He cried out he should have had only the cake. Content creators give Apple ideas, good taste, request for innovative fetures, and demand for quality, all together making Apple grow strong.

 

[deebinem]

If you dislike Tim's work so much, you're welcome to buy another brand. Also, regarding your rant about the Mac Pro, Apple said long ago that the new version is coming in 2019. Everyone here knows that. It's been 2019 for FOUR DAYS. Give it a rest, Veruca.

Dood, for REAL...

I am wondering if there is this much disdain and general anger over autos, where the average major design change occurs on a 4-6 year cycle?

Maybe I need to be visiting "KiaRumors" to find out...

EDIT: It's Friday, my spelling is atrocious.