Apple lists International Trade Disputes in their Form 10-Q, China's Propaganda Machine Scolds Apple Publicly & More
Beyond the major stories of the day, our 'At the End of the Day' report takes a final look around the blogosphere at other technology news that was published today that might be of interest to our readership. Our report covers two Apple reports and one on Google's flip-flop decision to get back into China and bow to Chinese Internet regulators.
Apple Warns of Impact of Trade Disputes in a Forest of Warnings
Yesterday Apple published a press release that also included their Q3 2018 Unaudited Summary Data and their condensed consolidated statements of operation (unaudited) that we included in our report. Today Apple published their Form 10-Q.
Form 10-Q, (also known as a 10-Q or 10Q) is a quarterly report mandated by the United States federal Securities and Exchange Commission, to be filed by publicly traded corporations. These reports generally compare last quarter to the current quarter and last year's quarter to this year's quarter. The SEC put this form in place to facilitate better informed investors.
It's here where Apple has to inform investors about possible situations that could affect their stock such as the Qualcomm legal attacks that may force them to pay a royalty that could affect company profits. They point out the legal case VirnetX and though Apple believes that they will prevail, they have to point out that the cases could go against them and affect profits.
There's another segment that points out Risk Factors such as rapid technological change that could put Apple in a position to not be able to compete with competitors. They warn that a recession could hurt them as well as "consumer confidence and spending could be adversely affected in response to financial market volatility, negative financial news."
Page after page after page of warnings are listed every quarter. Due to a possible trade dispute with China, Apple added two paragraphs that you could review below by clicking on the image to enlarge it. It also includes terrorism and natural disasters under the same heading.
While it's not a big deal, as some in the press would have you believe, Apple has to add this warning as will any company filing Form 10-Q. To review the full copy, download this PDF here.
China Propaganda Machine Publicly Scolds Apple
Reuters reported today that China's propaganda machine kicked into high gear against Apple, the only U.S. tech company that supported China's Internet Vision in 2017. Perhaps Cook should openly criticize China's government like Cook loves to do with the current U.S. administration at every possible occasion. How embarrassing for Cook to have Apple singled out and suffer a a public tirade.
Reuters reports that "On Tuesday evening, the same day as Apple's earnings, China's official state broadcaster railed against the firm in a 30 minute special report, accusing it of allowing illegal content, including gambling apps, onto its platform.
The program was one of at least five reports by state media that targeted the company in the past week." You could read more about this story here.
Google Is Planning China Search App, Ending Long Boycott
Bloomberg writes today that Google is preparing a version of its search engine for China that blocks results Beijing considers sensitive, according to people familiar with the situation.
The move would mark an abrupt about-face by the Alphabet Inc. unit and a win for China's communist government, which suppresses free speech online. Google co-founder Sergey Brin, whose parents brought him to the U.S. to escape communist Russia, led a dramatic exit from mainland China in 2010 after the company refused to self-censor search content. Brin has stepped back from day-to-day operations and the internet giant is now run by Chief Executive Officer Sundar Pichai. Still, other Google employees were angered by the news on Wednesday.
"WTF!" Google researcher Meredith Whittaker wrote on Twitter, describing the company's move as "enabling mass politically-directed censorship of (AI-enabled) search." She suggested the move may violate a recent Google pledge not to build technology that contravenes widely accepted principles on human rights. Other employees expressed similar frustration to Bloomberg News, but asked not to be identified." You could read more about Google's Flip-Flop here.
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