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BUSINESS
July 23, 2013 | By Andrea Chang
Apple Inc. reported solid fiscal third-quarter earnings Tuesday, with profit and revenue that beat expectations, and said it set a new June quarter record for number of iPhones sold. The Cupertino, Calif., tech company posted profit of $6.9 billion, or $7.47 a share, on revenue of $35.3 billion. Analysts had expected earnings of $7.34 a share on revenue of $35.18 billion, according to consensus estimates compiled by Thomson Reuters. They also had predicted Mac sales of 3.9 million, iPhone sales of 26 million and iPad sales of 18.3 million.
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BUSINESS
July 23, 2013 | By Andrea Chang
Apple Inc. topped Wall Street expectations by posting better-than-anticipated profit and setting a third-quarter record for number of iPhones sold. It was a welcome break for Apple, which has been in a bit of a slump lately because of a prolonged product drought and growing impatience among investors and consumers waiting for the company to come out with another blockbuster hit. Chief Executive Tim Cook played into that anticipation Tuesday, noting that the company had some "amazing new products" in the works but, as usual, remaining tight-lipped about what they were.
BUSINESS
July 23, 2013 | By Andrea Chang
Apple Inc. reports its third-quarter financial results after the markets close Tuesday, and expectations for the tech giant aren't high. A prolonged product drought has dampened the fervor that had surrounded the company over the last few years, with consumers and investors alike eager for something new. In the absence of that, and combined with stiff competition from rivals selling newer products often at lower price points, Apple's sales reportedly...
BUSINESS
July 11, 2013 | By Paresh Dave
Two in five smartphones sold in the U.S. this spring were iPhones. But that may not be good enough for Verizon Wireless. The company must sell $23.5 billion worth of iPhones this year to meet a  commitment it made to Apple Inc. in 2010, according to an investment research firm's analysis of SEC filings.  PHOTOS: Top smartphones of 2013 Because of slower-than-expected sales, Verizon now must double its iPhone sales of last year....
NATIONAL
July 11, 2013 | By David Horsey
In the battle of the technology business mega-monsters, Apple Inc. has lost a round to Amazon.com. On Wednesday, a federal judge in New York ruled that Apple “conspired to raise the retail price of e-books” with the aim of cutting into Amazon's market share. The judge said Amazon may now seek damages from Apple. The federal prosecutor in the case claimed this was a big victory for consumers. Well, maybe yes and maybe no. Amazon has become the 800-pound gorilla in the publishing world - actually, make that 8 million . The company sells so many more books than anyone else that it has driven so-called bricks-and-mortar bookstores, both big and small, to near extinction.
BUSINESS
July 10, 2013 | By Salvador Rodriguez
A federal judge ruled Wednesday that Apple Inc. led a conspiracy to raise the price of e-books. U.S. District Judge Denise Cote ruled against the Cupertino-based tech company after a trial in which the Department of Justice accused Apple of pressuring publishing companies to raise their prices in order to weaken rival Amazon.com. Now, Apple is liable for civil antitrust violations. LIVE DISCUSSION: Join us at 1:30 p.m. as we discuss the Apple ruling Join us at 1:30 p.m. as Times' staff writers Chris O'Brien and Andrea Chang discuss the ruling.
BUSINESS
July 10, 2013 | By Alana Semuels
NEW YORK -- Apple Inc. conspired to raise the prices of e-books, a judge ruled Wednesday morning, after a trial in which the Department of Justice accused the technology giant of aggressively pressuring publishers to raise prices and weaken Amazon.com. U.S. District Judge Denise Cote ruled that Apple is liable for civil antitrust violations, more than two weeks after closing arguments. “The Plaintiffs have shown that Apple conspired to raise the retail price of e-books and that they are entitled to injunctive relief.
BUSINESS
July 4, 2013 | By Vincent Bevins and Chris O'Brien
SAO PAULO, Brazil - On a recent vacation to Orlando, Fla., from his home in Brazil, Tulio Avellar made sure to stop by such world famous tourist destinations as Walt Disney World and Universal Studios. But he also visited one of the most popular spots for anyone traveling from Brazil: the Apple store. The 23-year-old bought an unlocked iPhone 4S for $570 - about half its cost back home. Brazilians planning to visit the U.S. are often besieged by requests from friends and family to procure Apple products for them.
BUSINESS
June 21, 2013 | Andrew Tangel and Chris O'Brien
Apple Inc. is a price-gouging, conspiratorial bully. Apple is a pro-consumer, innovative hero. A federal judge now must decide which of those competing descriptions best fits one of the world's most valuable companies. Attorneys for Apple and the U.S. Department of Justice offered their closing statements Thursday in the government's e-book price-fixing trial. Federal prosecutor Mark Ryan concluded the Justice Department's case by again declaring that Apple conspired with publishers to raise prices, offering them a way to fight back against Amazon.
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