Jobs

Click here for PDF in English - auf Deutsch - in Nederlands

Steven Jobs (February 24, 1955 – October 5, 2011) was an American entrepreneur, inventor, and investor renowned for his pivotal role in co-founding the technology behemoth Apple Inc. alongside Steve Wozniak and Ron Wayne. He played a significant part in popularizing the home computer concept and later revolutionized the landscape with the advent of smartphones and tablet computers. Additionally, he spearheaded the introduction of personal computers featuring graphical user interfaces in 1984 with the Macintosh and pioneered digital music downloads' market success in the early 2000s through the iTunes Store and the iPod media player.His passing in 2011 marked the culmination of a remarkable legacy. Under his leadership, Apple ascended to become one of the world's most capitalized companies. The global impact following the release of the iPod and, notably, the iPhone cemented Apple's status as a cultural phenomenon. Jobs' visionary pursuit of digitalization and the creation of an all-encompassing device were previously confined to the realm of science fiction. Today, Apple commands global attention with each of its events. Presently, the company boasts a market capitalization of 2.84 trillion USD and directly employs 100,000 individuals, with numerous others engaged indirectly through its extensive network of global suppliers.

?

This week, Apple released its earnings report, revealing a 4.3% decline in revenue to $90.8 billion for the March quarter. However, amidst this, Apple made a significant announcement of a new $110 billion stock repurchase program, marking its largest authorization to date and surpassing the $90 billion program announced just a year earlier. Notably, Apple repurchased $23.7 billion in stock during the March quarter alone, marking the third-highest quarterly total and the highest in six quarters. With a net cash balance of $58 billion at the quarter's close, Apple remains committed to achieving cash flow break-even in due course. Apple's forthcoming challenges are well-documented, including the need to catch up in artificial intelligence (AI) and deliver compelling new hardware offerings. Upcoming events include the launch of new iPads on May 7 and the unveiling of its AI strategy at WWDC on June 10. Anticipation also surrounds the release of the iPhone 16 this fall, though the timing for sustained revenue growth remains uncertain.

On the employment front, disappointing news has had a peculiar effect on the markets, at least for the time being. Recent data from the US Government indicates that the economy added only 175,000 jobs in April, significantly below economists' consensus estimate of 243,000. This represents the largest shortfall in headline payroll numbers over the past two years, signaling a deeper disappointment. Moreover, revisions to employment figures for previous months in 2024 have revealed an overly optimistic initial outlook, with a net reduction of 124,000 jobs compared to initial estimates.

Consequently, analysts are adjusting their expectations regarding potential rate cuts in the US. If the trend of slowing payrolls and wages persists in the coming months, rate cuts may occur sooner rather than later, as the spending power of the world's largest consumer base heavily relies on employment stability.

Of the 15 biggest share buybacks in US history, Apple appears 9 times. Only 2 non-technology companies appear. As one of the biggest shareholders of Apple, Billionaire Warren Buffett said : “When you are told that all repurchases are harmful to shareholders or to the country, or particularly beneficial to CEOs, you are listening to either an economic illiterate or a silver-tongued demagogue (characters that are not mutually exclusive) and all investors benefit from them as long as they are made at the right prices.”

Labour has been very strong for a long period of time, showing job openings deteriorating and unemployment rates ever so slowly creeping up.