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Ex-Teslans Hired For ‘Special Project’ of Apple

Lately, Apple has been hiring, former as well as current Tesla employees to join its company

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The Apple logo is shown outside the company's Worldwide Developers Conference in San Francisco, California. VOA

Adding another one of Tesla employees to its team, Apple has hired Michael Schwekutsch, former Vice President of the electric powertrains at Tesla as the Senior Director of Engineering in its “Special Project Group”.

Schwekutsch would join back Doug Field, a long-time engineering executive at Tesla who in 2018 joined Apple to lead its electric car project code named Titan.

Apple has already shifted over 200 employees from Titan to other teams earlier in January, according to the media reports.

“Now that Schwekutsch — who has exclusively worked on electric powertrains over the last decade — has joined Apple, it is becoming clear that the company plans to bring a complete electric vehicle into the market,” Electrik reported.

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Customers walk past an Apple logo inside of an Apple store at Grand Central Station in New York, Aug. 1, 2018. VOA

At Tesla, Schwekutsch worked on the development of edge Drive Systems like the one of the Tesla Roadster II and Tesla Truck.

He also managed programmes for the electric and hybrid powertrains of the BMW i8, Porsche 918 Spyder, Fiat 500eV, Volvo XC90, among other popular vehicles.

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Lately, Apple has been hiring, former as well as current Tesla employees to join its company.

“Apple has hired some longtime executives and engineers that don’t appear to have been let go by Tesla in what appears to be another wave of the poaching war between the two companies,” the report added. (IANS)

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Apple Accused of Fraud for Hiding Dop in iPhone Sales: Report

Apple’s disclosures in January caused its stock price to fall by more than $15 per share, or more than 9 percent

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The Apple logo is shown outside the company's Worldwide Developers Conference in San Francisco, California. VOA

A lawsuit filed in the US has alleged that Apple violated the country’s Securities Exchange Act by hiding a slowdown in the demand for iPhones, especially in China, the media reported.

The City of Roseville employees’ retirement fund filed the suit on Tuesday in Northern California US District Court, The Mercury News published from San Jose reported.

The lawsuit claimed that Apple knew in November its iPhone sales were hit, but refrained from revealing it to investors then, leading to economic loss for investors.

The lawsuit seeks class-action status, to bring in everyone who bought Apple common stock between November 2, 2018 and January 2, 2019, the report said, adding that the plaintiff is seeking a jury trial and unspecified damages.

Apple in November said it had gone into the holiday season with its “strongest lineup of products and services ever,” according to the suit.

But in reality, the US trade war with China was hurting the iPhone sales and Apple and its CEO Tim Cook were aware of it in November, claimed the lawsuit which said that Apple disclosed the “true state” of its first quarter iPhone sales only in January.

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Apple CEO Tim Cook speaks during a data privacy conference at the European Parliament in Brussels. VOA

The suit alleged that Apple and Cook’s “materially false and misleading statements” in November propped up the company’s stock, “which continued to trade at artificially inflated prices”.

But in January, Apple lowered its revenue guidance for fiscal 2019 first quarter, which ended on December 29.

In a letter to investors, Cook said that the company now expects a revenue of approximately $84 billion, down from the $89 to $93 billion it had previously projected.

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Cook acknowledged that the revenue shortfall in its guidance was partly due to China’s trade tensions with the US. The slowdown in the Chinese economy also impacted its revenue, he said.

Apple’s disclosures in January caused its stock price to fall by more than $15 per share, or more than 9 percent, the suit claimed. (IANS)