Top Apple Exec Points To Steve Jobs Era For Lack Of Meeting Records, Expresses Uncertainty About App Store's Profitability
Portfolio Pulse from Rounak Jain
Phil Schiller, a top executive at Apple Inc. (NASDAQ:AAPL), testified in an Australian antitrust case, expressing uncertainty about the App Store's profitability. He revealed that Apple does not focus on financial metrics like ROI for the App Store and lacks written records of executive meetings, a practice dating back to Steve Jobs in 1997. This testimony is part of broader legal challenges and criticisms Apple faces regarding its App Store policies.
April 17, 2024 | 1:39 pm
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Phil Schiller's testimony about the App Store's uncertain profitability and Apple's unconventional management practices could raise concerns among investors about the company's revenue transparency and governance.
Schiller's admission of not focusing on the App Store's profitability and the lack of written records for executive decisions could lead to investor concerns about Apple's transparency and governance. This might negatively impact investor sentiment in the short term, as it introduces uncertainty about a significant revenue source and Apple's overall management practices.
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