Apple pays dearly for staunch privacy stance

Apple’s CEO Tim Cook appears to be in trouble over his repeatedly stated opinion on technology and personal privacy.

Cook has been consistent in his stance on releasing private information of his customers from the San Bernardino shooters in 2015.

On Sunday Cook appeared on “60 Minutes” and his recent presentation backing the right to privacy at an European Union conference. No other US tech CEOs appeared live at this conference.

During his EU presentation, Cook said this: “Today [the private information] trade has exploded into a data industrial complex. Our own information, from the everyday to the deeply personal, is being weaponized against us with military efficiency,” Cook said at a conference in Brussels on data privacy last week.

Google, Facebook, Microsoft, Twitter and SnapChat among others declined to appear live.

So come Monday two iPhone component suppliers cut sales projections for the upcoming quarter. While neither company named Apple as the reason for the revenue shortfall, Wall Street took Rice to the woodshed taking 5% or roughly $50 billion out of investors pockets.

Apple has said recently it will not breakout individual product sales numbers anymore in it quarterly earnings reports in keeping with other manufacturers.

Now iPhone sales may be slowing as market saturation and the costs for replacement units continue to rise, but the timing of these two events — “60 Minutes” and stock collapse — appear to be a shot across the bow of Apple to tone down the privacy rhetoric.

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