Even with the profitability of its App Store at the core of the case, the recent antitrust trial between “Fortnite” maker Epic Games Inc. and Apple Inc. couldn’t fully expose how much money flows into Cupertino from apps.
“We invest like crazy in [research and development],” Cook said in his testimony at the end of the trial. He said Apple spent $100 billion since the introduction of the iPhone in 2007, and $50 billion over the past three years. . He also noted that security and infrastructure costs, in addition to innovative features, cut into its profit margins.
“How is it as the executive responsible for this major business in the country, you don’t know if its profitable?” Forrest asked.Forrest also reminded him of a press release issued by Apple in 2017, which stated that software developers earned $70 billion from the App Store since its launch in 2008, which would infer at least $20 billion in profit to Apple.
“If at times we grow services that are at a level of gross margins which is below average, as long as this is good for the customer and as long as we generate gross margin dollars, we’re going to be very pleased,” he said in a conference call with analysts.
Another way to read this story is Wall Street has shorted Apple stock into oblivion so, I’ll write this hit piece to cover the fact that the price of this security will drop in price dramatically for no fundamental reason.
I like Steve Jobs' Apple, but Tim Cook's Apple looks cliché and runs out of ideas. I think a more innovative person should be Apple's CEO.
You will never get me to stop exposing bad ideas.
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