Cook, other Apple execs open up on company’s future in extensive ’60 Minutes …

23 Dec 2015 | Author: | No comments yet »

Apple CEO Tim Cook says he will not create a ‘back door’ for the government to access encrypted iMessages because it could be used by both ‘good guys and bad guys’.

Tim Cook said that he won’t weaken the unbreakable encryption technology on Apple products to allow the US government to access iMessages because it could actually damage national security.New York (CNN Money) — After practically minting money for the past two decades, you wouldn’t guess that Apple is giving investors some serious butterflies.Cook’s remarks, made on CBS’ 60 Minutes show, come amid a debate in the United States over corporations avoiding taxes through techniques such as so-called inversion deals, where a company redomiciles its tax base to another country.

Cook, who gave the first part of his interview with Charlie Rose on 60 Minutes before the Paris attacks, said in the second portion that his stance hadn’t changed in the wake of the shootings. It’s an intriguing thought: The company has redefined consumer technology design, while the technology and automotive spaces have never been more closely aligned.

Apple CEO Tim Cook is predicting a record number of sales this quarter, but people who follow Apple’s stock have a big concern about the business: We may have reached peak iPhone. Even though it’s believed the Paris perpetrators used encrypted messages to communicate, Cook said he will not create a ‘back door’ for the government unless Apple is served with a warrant. A flurry of analysts with insights into Apple’s supply chain raised doubts this week that Apple would be able to sell more iPhones this quarter than the 75 million it sold during the same period a year ago.

Rebecca Lester, assistant professor of accounting at the Stanford Graduate School of Business, thought Cook’s colorful language might reflect frustration about the lack of movement on tax reform in Washington. “Companies and the government are in a game of chicken, waiting to see which one moves first,” she said. Apple’s encryption technology makes it impossible for anyone but the intended recipient to see a message and it’s so strong even the company can’t get to communications, Bloomberg reported. FBI Director James Comey, UK Prime Minister David Cameron and others have called for Apple and other tech companies to create ways to access messages sent by suspected criminals.

Dialog Semiconductor, which makes power-management chips for the iPhone, reported a weaker-than-expected outlook for its mobile business — of which Apple accounts for 90%. 3. Notably, Morgan Stanley’s star technology analyst Katy Huberty now predicts that iPhone sales will fall 6% next year to 218 million devices —down from 231 million in 2015. It already released bigger iPhones, signed on with China’s largest carrier and unveiled a lease program that encourages customers to get a new iPhone every year.

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