“Tim Cook deliberately misled shareholders” Apple agreed to pay $490 million to settle the lawsuit.
Apple CEO Tim Cook said in an earnings call on November 1, 2018 that Apple faces pressure in emerging markets such as Turkey, India, Brazil and Russia, where local currencies are weakening. China was not included in this list. In this regard, Cook “I wouldn’t specifically put China in this category because our business in China was very strong last quarter.” he said. Thereupon, in January 2019, Apple’s shares fell along with its revenues, and this decline Tim Cook cited the slowdown in China as the reason. Cook attributed the loss of revenue to lower-than-expected iPhone sales, especially in China, and that’s exactly what proved to be a serious problem. Investors during Cook’s earnings call in November 2018 He claimed he knew iPhone demand in China was falling but deliberately did not disclose it. For this reason, a lawsuit was filed against Cook by some investors, and Apple at the last stage decided not to prolong this process any further. A $490 millioncase settlement payment” he accepted.
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Tim Cook is attracting attention with his statements about artificial intelligence these days. For example, the famous executive said last month that Apple would make a breakthrough in the field of productive artificial intelligence. The CEO did not give any additional details on this issue, but this statement alone was enough to make a splash. Apple will equip iOS 18 and more, which it will introduce within the scope of WWDC24, with productive artificial intelligence features / opportunities. especially running LLM, i.e. large language model, directly in iPhones It runs on many large systems. Apple is coming to the fore with many artificial intelligence developments these days.
For example, as the company has revealed in recent months, it is working to assist support teams and support the process of finding solutions to customers’ technical questions / problems. It tests a ChatGPT-like system called “Ask”. It is reported that the productive artificial intelligence-based system is currently in a pilot program and Ask said, “A customer is unable to update their device to iOS 13.7. What can be done?” It is stated that it can quickly answer questions such as these based on the official data it accesses. Meanwhile, Apple also helps application developers with artificial intelligence will be. According to recent information, the company is powered by artificial intelligence with the new version of Xcode. is preparing to introduce a tool to help application developers.