Steve Jobs Resigns As CEO Of Apple

Title says it all. More to come. For now, the letter from Steve Jobs himself:

To the Apple Board of Directors and the Apple Community:

I have always said if there ever came a day when I could no longer meet my duties and expectations as Apple’s CEO, I would be the first to let you know. Unfortunately, that day has come.

I hereby resign as CEO of Apple. I would like to serve, if the Board sees fit, as Chairman of the Board, director and Apple employee.

As far as my successor goes, I strongly recommend that we execute our succession plan and name Tim Cook as CEO of Apple.

I believe Apple’s brightest and most innovative days are ahead of it. And I look forward to watching and contributing to its success in a new role.

I have made some of the best friends of my life at Apple, and I thank you all for the many years of being able to work alongside you.

Steve

Update: Apple has confirmed that Apple COO Tim Cook will replace Jobs as CEO, following Jobs’ own recommendation. Considering that Cook has filled in for Jobs in the times of his medical leaves (including the one he has been on this year), this has been widely expected if and when it came time for Jobs to step down.

Also as requested, Jobs has been elected as Chairman of the Board and will remain with the company in that capacity. Cook will join the Board as well.

About the Company:

Started by Steve Jobs, Steve Wozniak, and Ronald Wayne, Apple has expanded from computers to consumer electronics over the last 30 years, officially changing their name from Apple Computer, Inc. to Apple, Inc. in January 2007.

Among the key offerings from Apple’s product line are: Pro line laptops (MacBook Pro) and desktops (Mac Pro), consumer line laptops (MacBook) and desktops (iMac), servers (Xserve), Apple TV, the Mac OS X and Mac OS X Server operating systems, the iPod (offered with up to 120 GB of storage with the iPod classic or with web browsing and touch screen controls with the iPod touch), and the iPhone (now available for sale in over 80 countries).

About Steve Jobs:

Steve Jobs is the co-founder and CEO of Apple and formerly Pixar.

“Innovation distinguishes between a leader and a follower.” -Steve Jobs

Steve Jobs regularly makes most rosters of the rich and powerful. It is surprising for a guy who takes home an annual salary of U.S. $1. The reasons why he is on all power lists are; Apple, Next, iPod and Pixar. Jobs is also known as the one man who could have upstaged Bill Gates. But Jobs was as excited about innovation as Bill Gates was interested in making money.

Steve Jobs was born in Green Bay, Wisconsin to Joanne Simpson and a Syrian father Abdulfattah Jandali (who became a political science professor). Paul and Clara Jobs of Mountain View, Santa Clara County, California then adopted him. The writer Mona Simpson is Jobs’ biological sister. In 1972, Jobs graduated from Homestead High School in Cupertino, California and enrolled in Reed College in Portland, Oregon. One semester later he had dropped out. But instead of going back home he hung around college and took up the study of philosophy and foreign cultures.

Steve Jobs had a deep-seated interest in technology so he took up a job at Atari Inc. which was a leading manufacturer of video games. He struck a friendship with fellow designer Steve Wozniak and attended meetings of the “Homebrew Computer Club” with him. Wozniak and Jobs developed a system with a toy whistle available in the Cap’n Crunch cereal box to make it possible to make free long distance telephone calls. They called off the amateur venture after someone told them of the possible legal consequences.

After saving up some money Steve Jobs took off for India in the search of enlightenment with his friend Dan Kottke. Once he returned he convinced Wozniak to quit his job at Hewlett Packard and join him in his venture that concerned personal computers. They sold items like a scientific calculator to raise the seed capital.

In 1976, Jobs, then 21, and Wozniak, 26, founded Apple Computer Co. in the Jobs family garage. The first personal computer was sold for $666.66. By 1980, Apple had already released three improved versions of the personal computer. It had a wildly successful IPO, which made both founders millionaires many times over. Steve Jobs had managed to rope in John Scully of Pepsi to head the marketing function in Apple.

A tiff with the Apple board and John Scully led to the resignation of Steve Jobs. As soon as he resigned he immersed himself in his brand new venture. Steve Jobs decided that he wanted to change the hardware industry. The company was called NeXTStep and the new machine was called NeXT Computer. He ploughed in more than U.S. $250 million into the company. The machine was a commercial washout but it did help in object-oriented programming, PostScript, and magneto-optical devices. Tim Berners-Lee developed the original World Wide Web system at CERN on a NeXT machine. Bitterly disappointed with NeXTStep, Jobs accepted the offer that Apple made him.

Steve Jobs also started Pixar Inc., which has gone on to produce animated movies such as Toy Story (1995); A Bug’s Life (1998); Toy Story 2 (1999); Monsters, Inc. (2001); Finding Nemo (2003); and The Incredibles (2004). This venture has made him one of the most sought after men in Hollywood.

Post Pixar, Steve Jobs wanted another round of revolutionizing to do. This time it was the music industry. He introduced the iPod in 2003. Later he came up with iTunes, which was a digital jukebox. A million and a half iPods later, the music industry still does not know whether this invention will save it or destroy it. Apple has a great advertising track record and its ‘Rip, Mix, Burn’ campaign was another feather in its cap. Now the industry uses a Mac to make the music and an iPod to store it.

Steve Jobs lives with his wife, Laurene Powell and their three children in Silicon Valley. He also has a daughter, Lisa Jobs from a previous relationship. In 2004, there was a cancerous tumor in his pancreas, which was successfully operated upon. Jobs continued to struggle with his health, and in 2009 he underwent a successful liver transplant.

Jobs resigned as CEO of Apple in August 2011 and subsequently assumed the role of Chairman of the Board.

Surprising Facts About Steve Jobs & Apple

It's safe to say most investors are well acquainted with the charisma, drive, and brilliance of Steve Jobs. He's the most well-known CEO in the world, and arguably the best too. His announced resignation as Apple CEO is not unexpected, but is still being met with some degree of shock. Here's a short list of facts (not opinions) about Jobs and Apple that are truly surprising.

1) Not A Single Downgrade Today

Jobs' resignation is arguably the worst news out of Apple (AAPL) in years and the Wall Street crowd didn't even blink. 49 out of 51 analysts currently rate Apple a "BUY" with an average price target of $497 a share (according to Factset Data), which is roughly 32% above yesterday's closing price. The Jobs shocker was met not with a flurry of downgrades and panic selling, but rather with a chorus of reiterations and calls to buy on any weakness.

2) Jobs' Stake in Disney Is Twice As Big As His Slice of Apple

As a result of his Pixar sale, Steve Jobs owns 7.4% of Disney (DIS), or 138 million shares, worth roughly $4.5 billion. At the same time, his latest disclosed stake in Apple of 5.5 million shares, represents roughly 0.5% of the total float and is worth about $2.1 billion. His stake in Apple doesn't even make him a top 20 shareholder. In Disney, Jobs' is the top shareholder. His stake is way above Fidelity, Blackrock, State Street, and Vanguard which own chunks ranging from 3 to 4.5%.

3) Apple Gets Sued Almost Every Day

When you have grown to $350 billion in market value with a massive global reach, it is safe to say that you are a large target with deep pockets. In just August alone, 13 lawsuits have been disclosed pertaining to privacy violations in South Korea, class action in the US, numerous patent challenges, as well as a claim of price fixing.

4) Apple Has Not Missed A Quarterly Estimate in Nearly 9 Years

According to Factset, Apple has "beat the street" for 35 consecutive quarters - the longest streak of any company in the S&P 500 except for Cognizant Technology (CTSH). And speaking of earnings, the $7.3 billion net income Apple reported in July made it the largest contributor to earnings growth in the S&P 500 for the 2nd quarter. With Apple, S&P 500 earnings were up 11.8% in Q2. Without it, S&P 499 earnings would have risen only 10.0%.

5) Apple Has Not Traded Under $100 a Share Since March 18, 2009

What's even more astounding is that on a split adjusted basis, (there have been 3) Apple's IPO price is $2.75 a share. For the record, the actual IPO was done on December 12, 1980 at $22.00 a share. If you bought 1,000 shares of the Apple IPO, your $22,000 investment would be worth $2.9 million today.

6) Steve Jobs Personally Holds Over 300 Patents

According to the New York Times, it's actually 313 patents. But what is more telling is the amount that some of his billionaire tech peers have: 9 for Bill Gates and about a dozen for Sergei Brin and Larry Page. Most of Jobs' patents are tech-related, but the Apple founder even holds a patent for a glass staircase.

Fake iPhone 5 Supposedly Leaks The Real iPhone 5′s Design

I’ll say it now, before anyone gets their hopes up: this is most definitely not an iPhone 5. Those blurry, Big-Foot-esque shots from last week still may very well be the real deal, but this is not. This is yet another fake iPhone out of Shenzhen, China — but here’s the twist: its design is supposedly stolen straight from that of the actual iPhone 5.


Skeptical? That’s completely reasonable. Fake iPhones are a dime-a-billion in Shenzhen — but one ripping off a top-secret handset that hasn’t even properly photographed, much less announced? That’d be a new trick.
Weighing in on this one too much seems a bit silly; disputing the accuracy of a Chinese fake supposedly based on something few have ever seen would just about reach the limits of futility. Instead, I’ll just leave a few observations as food for thought, and let you take it as you will. Drop a comment with your thoughts.

• The volume rocker is one long piece (a la the iPhone 3GS), as opposed to two buttons (as found on the iPhone 4.) This matches up with the aforementioned Big-Foot shots, as that device clearly has a one-piece rocker.
• Coming in at just 7mm thick, this would fit quite well in any of the supposed iPhone 5 cases that have leaked over the past few weeks. For years now, these leaked cases have been the first hint of what’s to come.
• Word of the rounded edge of the back has long been floating around the rumor mill. That equally rounded front seems a bit strange, though; it forces the display to have a rather thick bezel (whereas all past rumors indicated the bezel was hair-thin), and makes the screen seem a good bit smaller. If this design is anything near legitimate, the rounding of the front seems like one place where the cloners may have practiced some.. artistic freedom, so to speak.

Okay, I lied: I’ve gotta weigh in on this a bit more. My bet? It’ll share some similarities with the real deal (the back being rounded, for example, seems quite likely at this point), but the differences will be vast enough that the fake will seem strikingly … well, fake. It seems like whoever built this took the supposed leaked case specifications that have been floating around and worked backwards, then cut some corners to be able to use the materials they had at hand to get the job done.
Real or not, high-fives to GizChina for diggin’ up this rather crazy clone.



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Apple has more cash than the federal government

 Paul Sakuma

Who's ready for iAmerica?


As the BBC has reported, the software company Apple has more cash on hand than the United States federal government, according to the company's financial records.
Apple's quarterly financial report shows that the company responsible for the iPad, iPod and the iPhone now has $76.4 billion in reserve cash, while the Treasury Department is sitting on just $73.7 billion.

The feds could probably learn a thing or two from Apple's success. Congress remains embroiled in a debate over spending and whether the federal government, which currently owes trillions in debt, should be allowed to borrow even more. International credit rating agencies have threatened to downgrade the national debt for the first time in the nation's history if Washington doesn't come up with a solution to lift the $14.3 trillion debt ceiling while implementing a concrete plan to get the nation's financial house in order.
Meanwhile, Apple's financial report shows that the company's profits, even through the last recession, are booming.

HTC Warms Up To Settlement Talks With Apple

Perhaps it’s a product of Schmidt's carefree attitude or maybe it’s a little tinge of fear after their latest lost, but HTC now appears to be ready to negotiate with Apple. With a win on each side, settlement talks may be the only detour before this patent battle turns into a full-fledged war.

In early July, the ITC found Apple in violation of two S3 Graphics patents, which were then taken over by HTC when it acquired the graphics company for $300 million. On July 15, Apple got an ITC win against HTC over two of its own patents.

“We have to sit down and figure it out,” said HTC CFO Winston Yung in an interview with Bloomberg. “We’re open to having discussions.” Yung clarified that no formal discussions have occurred since the ITC rulings this month, but merely that HTC was considering settlement negotiations. “We are open to all sorts of solutions, as long as the solution and the terms are fair and reasonable,” said Yung. “On and off we’ve had discussions with Apple, even before the initial determination came out.”

Both of the initial rulings (Apple in violation of S3 Graphics patents and HTC in violation of Apple patents) are subject to review by the full six-member commission.

iCloud: Apple Sued by iCloud

Looks like Apple finds itself in the middle of another trademark dispute over a recently revealed product.
iCloud Communications, an Arizona-based computer communications company, filed suit against Apple on Thursday for allegedly infringing on its trademark of the name iCloud.

    
 According to court documents posted by The Next Web, iCloud Communications has been using the name iCloud in the "computer and electronic data transmission" space long before Apple revealed its new wireless syncing service on June 6.
The company claims that people will now associate iCloud with Apple instead of iCloud Communications -- and that could hurt its business.

iCloud Communications is asking Apple to stop using iCloud and destroy "all labels, signs, prints, insignia, letterhead, brochures, business cards, invoices and any other written or recorded material or advertisements" that use its name. In addition the complaint calls for "all profits, gains and advantages obtained from Apple's unlawfulconduct" and "all monetary damages sustained and to be sustained... including lost profits and reasonable royalties."
In other words, the company wants a lot of cash from what it says is the largest tech company in the world.
iCloud Communications attempts to boost its case by alleging that this isn't the first time Apple has infringed upon others' trademarks.
"Although Apple aggressively protects its trademark rights, Apple has a long and well known history of knowingly and willfully treading on the trademark rights of others -- a history which began as early as the 1970s when Apple was first sued for trademark infringement by the Beatles record label, Apple Corp."
The documents also mentions other trademark debacles Apple had in the past with McIntosh Labs, Management and Computer Services (MACS), the "Mighty Mouse" cartoon character, iPhone, iPad and iAd.
If the past is any indication of how this case will turn out, Apple and iCloud Communications will likely settle out of court. After all, Apple is still using all the names from those other cases.KPVUEKHNUF8H

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Apple iPad 2: review

The iPad 2 refines last year’s product, adds a few premium features and makes a very tempting package.

As anyone who has followed technology news this month will know by now, the iPad 2 is thinner and lighter than its predecessor. Although the difference in weight is a mere 100 grams, the slimness of this year’s model creates the illusion that it is lighter still. This further helps with the iPad’s greatest trick: seeming to disappear and become whatever app you’re using.

And there are apps by the thousand. Around 65,000, in fact, which gives Apple an enormous head start over the competition. Those apps will run faster too, thanks to the iPad 2’s A5 dual core processor. The new iPad runs up to twice as fast and graphics performance is nine-times faster. The speed improvements can be seen on almost any app; the original iPad didn’t feel sluggish before but it will after you’ve spent some time with the iPad 2.

The improvement in graphics performance is most noticeable on games such as Infinity Blade, which looks truly stunning on the iPad 2. Real Racing 2 has been upgraded to take advantage of the new graphics capability as well and more and more titles will follow in the coming weeks.

The other significant addition are the cameras: one on front and one on the back of the iPad 2. The rear camera is capable of 720p HD video but, as with the one in the iPod touch, it’s a mediocre stills camera. The front-facing camera, for video conferencing, is VGA - and also works as a stills camera.

Now it has cameras, the iPad 2 joins the iPhone 4 and iPod touch in getting FaceTime, Apple’s video chat app. In tests - calling an iPhone 4 from an iPad 2, it worked very well. While the picture quality was not pin-sharp, the call was smooth and uninterrupted. It’s easy to see this being a boon to people who travel a lot or those whose friends and family are far away.

Last year Apple showed off the capabilities of their new device by producing versions of their iWork productivity suite: word processor Pages; spreadsheet application Numbers; and presentation tool Keynote. This year they’ve brought two of their iLife apps to the iPad: GarageBand and iMovie.
Garageband takes the popular music-making program from the Mac and takes it far beyond what a desktop app is capable of. The iPad becomes a musical instrument and Garageband allows you to layer tracks together to produce songs. For the musically-challenged, like me, there are ‘smart instruments’, which are designed to sound good together. Even more clever is the use of the accelerometer to determine, with surprising precision, how hard you’re pressing the keys on your keyboard or banging your drum.
Then there’s iMovie, which uses the extra screen real estate of the iPad to offer a well-equipped video editor. It’s designed for the touchscreen and the controls are very simple but there’s some very powerful options for those who know what they’re doing. While not for everyone, I can see both these apps becoming essentials for a lot of people.
There are several other additions. There’s the HDMI-out accessory that allows you to mirror your iPad’s screen on your television, for example, and the addition of a gyroscope that allows the iPad 2 to match the iPhone 4’s gaming capabilities. However, the one that I want to spend a little more time on is the Smart Cover.

The original iPad cover was a triumph of practicality over design. It collected dust, had a strange rubbery texture and felt very un-Apple. That said, it did protect the iPad and folded back neatly into a stand. The Smart Cover, on the other hand, is a triumph of design and practicality. Hooking magnetically onto the side of the iPad 2, it covers the screen and closes with a reassuring click - magnets again - putting the device to sleep as it does so. Peel it back and the device wakes up. Meanwhile, the cover folds underneath to create a stand. Throughout it all, the beauty of the iPad design remains visible. The Smart Cover costs £35 in polyurethane and £59 in leather but the iPad 2 doesn’t feel complete without one.
To add to the iPad 2’s smooth looks, there’s also a white version this year. Personally, I’m not a fan. As I mentioned above, I like the iPad to disappear when I’m using an app and I find the white border around the iPad screen too distracting. There will be plenty who disagree with me, however.
Are there weaknesses? I suppose so but you have to look quite hard to find them. There are rivals out there with higher specs certainly, but the iPad 2 never feels like it’s struggling. Famously, the iPad doesn’t support Flash but after a year using the first iPad I can honestly say that I scarcely miss it. Finally, there’s the size; some people think the iPad is just too big. For them a 7-inch tablet is probably ideal but I remain unconvinced by those. I want a tablet, not a big smartphone.
The iPad 2 does everything that made the original iPad such a revelation but it does them better. At £399 for the basic model - 16GB and wifi-only - it’s hard to resist, though those with a bit more to spend should consider the 32GB model with wifi and 3G (£579). The extra storage is worth it and cheap 3G plans mean you have the option of using the iPad when wifi is unavailable. Those who travel a lot will want a 64GB model so that they can carry a selection of films but most of us won’t need so much storage.
Whichever model you choose, there’s no reason to wait. Now is the perfect time to join the iPad club.

DOWNLOAD latest chat messengers  here.

Why Apple Is More Valuable Than Google

A look at what's behind the Mac and iPhone maker's now firm market-cap edge on the Web-search leader, and how it could one day challenge Microsoft

By Peter Burrows

Now that Apple (AAPL) has once again passed Google (GOOG) in market value, can the consumer-electronics maker maintain its lead?

While Apple's capitalization has risen above that of Google for short bursts in the past, it has remained higher since July 22. As of Aug. 11, Apple was worth $145.87 billion, compared with Google's $143.40 billion. This could be a momentary shift in Wall Street's whims—like when Cisco Systems (CSCO) briefly surpassed Microsoft (MSFT) to become the world's most valuable company in 2000.

More likely, Apple has more solidly unseated Google as tech's No. 2 powerhouse and is now on track to one day challenge Microsoft for the crown. While both Apple and Google are likely to remain highly valuable in the coming years, there's reason to believe that Apple may outshine Google in the eyes of investors.

Dedicated Apple Customers

Google has an incomparably profitable Web-search operation, but it incurs losses in scores of other businesses. Apple, on the other hand, makes money on everything it does—even the music and applications sold in an effort to get people to buy the hardware devices that are its true business.

And Apple has far more room to grow based on its core businesses. While Google gets about 70% of the revenue from the $14 billion online advertising business, Apple has well under 10% of the computer business, and about 8% of cell-phone revenue.

What's more, Apple's profit machine may be more protected from competition than Google's. As Google executives are quick to tell antitrust regulators, consumers are just clicks away from switching search engines. But Apple has its fingers all but sewn into the wallets and purses of the millions of people who have purchased billions of songs and almost 2 billion iPhone applications from the AppStore. More than 75 million people have credit cards on file with Apple, and have invested to build libraries of songs, movies, and applications. The more they spend, the less likely they are to jump ship to other products.

Apple Eyeing Tablet PCs

It's not hard to envision ways for Apple to grab a larger slice of consumer spending. For all of its success in digital music—it long ago passed Wal-Mart (WMT) to become the world's leading distributor of music—still only about 30% of music is sold via iTunes. And with thousands of new apps showing up in the App Store, the reasons to buy an iPhone or iPod Touch—say, to use it as a GPS navigation system, as a level, or for making bank deposits—are expanding. And if rumors pan out that future versions of iTunes will incorporate more social networking, it will be even easier for Facebook and Twitter users to recommend Apps to friends.

Source: Business Week

Why Apple Is More Valuable Than Google

A look at what's behind the Mac and iPhone maker's now firm market-cap edge on the Web-search leader, and how it could one day challenge Microsoft

By Peter Burrows

Now that Apple (AAPL) has once again passed Google (GOOG) in market value, can the consumer-electronics maker maintain its lead?

While Apple's capitalization has risen above that of Google for short bursts in the past, it has remained higher since July 22. As of Aug. 11, Apple was worth $145.87 billion, compared with Google's $143.40 billion. This could be a momentary shift in Wall Street's whims—like when Cisco Systems (CSCO) briefly surpassed Microsoft (MSFT) to become the world's most valuable company in 2000.

More likely, Apple has more solidly unseated Google as tech's No. 2 powerhouse and is now on track to one day challenge Microsoft for the crown. While both Apple and Google are likely to remain highly valuable in the coming years, there's reason to believe that Apple may outshine Google in the eyes of investors.

Dedicated Apple Customers

Google has an incomparably profitable Web-search operation, but it incurs losses in scores of other businesses. Apple, on the other hand, makes money on everything it does—even the music and applications sold in an effort to get people to buy the hardware devices that are its true business.

And Apple has far more room to grow based on its core businesses. While Google gets about 70% of the revenue from the $14 billion online advertising business, Apple has well under 10% of the computer business, and about 8% of cell-phone revenue.

What's more, Apple's profit machine may be more protected from competition than Google's. As Google executives are quick to tell antitrust regulators, consumers are just clicks away from switching search engines. But Apple has its fingers all but sewn into the wallets and purses of the millions of people who have purchased billions of songs and almost 2 billion iPhone applications from the AppStore. More than 75 million people have credit cards on file with Apple, and have invested to build libraries of songs, movies, and applications. The more they spend, the less likely they are to jump ship to other products.

Apple Eyeing Tablet PCs

It's not hard to envision ways for Apple to grab a larger slice of consumer spending. For all of its success in digital music—it long ago passed Wal-Mart (WMT) to become the world's leading distributor of music—still only about 30% of music is sold via iTunes. And with thousands of new apps showing up in the App Store, the reasons to buy an iPhone or iPod Touch—say, to use it as a GPS navigation system, as a level, or for making bank deposits—are expanding. And if rumors pan out that future versions of iTunes will incorporate more social networking, it will be even easier for Facebook and Twitter users to recommend Apps to friends.

Source: Business Week