Apple Stock Slides from Record Close
After the most recent stock news – Apple stock reached a record close of $134.18 on September 1 and then it went down on Thursday and Wednesday by 8% and 2% respectively. However, by the end of the trading session on Friday, the stock went up by 0.07%. Apple regained a market valuation above $2 trillion after it lost it status during said declines.
Apple’s recent stock slide can be partially explained by SoftBank’s purchase of options tied to $50 Billion in tech stocks. The growing fears of a tech bubble also contributed to the declines.
New details on iPhone 12 leak
Several reports published in the Taiwanese DigiTimes regarding the iPhone 12 lineup.
The first claims that Apple will offer a new “dark blue” model in the iPhone 12 lineup. In addition, there will be improvements in the camera modules, displays and communications modules.
The camera reportedly will be a ToF (time-of-flight) camera. The wide-angel lens of its rear camera will come with sensor-shift optical image stabilization functionality.
The second claim is that LiDAR (light detection and ranging) technology “will be incorporated into some of its new iPhone models.”
The Battle with Epic Games Continues
The legal battle between Apple and Epic Games continues as Epic Games, the “Fortnite” developer announced it has filed for a preliminary injunction that would revert the actions Apple took in the past two weeks.
On August 28 Apple blocked the Epic Games mobile developer account and removed “Fortnite” from the App Store. The move means that Epic Games will no longer be able to update “Fortnite” on iOS and the users will no longer get any new in-game content.
“We are disappointed that we have had to terminate the Epic Games account on the App Store. We have worked with the team at Epic Games for many years on their launches and releases. The court recommended that Epic comply with the App Store guidelines while their case moves forward, guidelines they’ve followed for the past decade until they created this situation. Epic has refused. Instead they repeatedly submit Fortnite updates designed to violate the guidelines of the App Store. This is not fair to all other developers on the App Store and is putting customers in the middle of their fight. We hope that we can work together again in the future, but unfortunately that is not possible today.”Apple’s statement to Bloomberg
The two companies are expected to meet in court again next month.
New Apple Watch and iPad Releases Are Imminent
According to MacRumors, Apple has registered eight Apple Watches and seven iPads in Eurasian Economic Commission (EEC) filings discovered by Consomac. Similar EEC filings have preceded the launch of new Apple products on numerous occasions. These filings are legally required for any encrypted devices sold in Russia and other countries.
The filing disclosed that the iPads will run iPadOS 14, while the smartwatches will be marketed with watchOS 7. Both of the operating systems are currently in beta phase. The EEC does not list any other details about Apple’s next smartwatches and iPads.
Apple is rumored to be releasing the Watch Series 6 and new iPads via a press release on the week commencing September 7.
Apple Settles Powebeats2 Class-Action Lawsuit
According to Apple Insider, Apple has settled a class action lawsuit claiming the company’s Powerbeats2 wireless earphones contain a design defect that causes the device to stop retaining a charge. Moreover, The lawsuit claimed that Apple had been deceiving consumers about the headphones’ durability and sweat-resistance.
The company has denied all allegations, and has said that it is paying the settlement fee to avoid the expensive litigation charges. Apple and the plaintiffs have agreed to a settlement that will see Apple paying $9,750,000. It will be split between all Class Members after attorneys’ fees and related costs are paid.
The Lawsuit was filed in 2017, and a settlement agreement was reached in January. A preliminary approval order detailing specific of the settlement was signed on August 7. A final hearing by the Supreme Court of the State of California, Santa Clara County has been scheduled for January 15, 2021.