2019 began on a negative note for Apple (AAPL). On the first trading day of 2019, January 2, the company cut its guidance for the quarter ended December 29. In a press release titled “Letter from Tim Cook to Apple investors,” Apple CEO Tim Cook mostly blamed slowing Chinese economic growth for the company’s weakening iPhone sales in China. Over the last few months, Apple has faced criticism from many experts over increasing the prices of its iPhones. However, Cook’s views on privacy, which he revealed in his recent post on Time.com, reflect Apple’s commitment to consumers and show why iPhones could still be the safest the smartphones on the market today.
Tim Cook’s views on privacy
Cook, in his post titled “You Deserve Privacy Online. Here’s How You Could Actually Get It,” discussed the importance of users’ privacy in today’s world. In the post, he said, “Consumers shouldn’t have to tolerate another year of companies irresponsibly amassing huge user profiles, data breaches that seem out of control and the vanishing ability to control our own digital lives.”
He called “on the US Congress to pass comprehensive federal privacy legislation” to ensure consumers’ safety in today’s fast-paced digital world. He wants new legislation to prevent companies from unnecessarily collecting users’ data and companies to clearly reveal to consumers “what data is being collected and why,” which he calls “the right to knowledge.”
Also, Cook wants the new legislation to ensure that companies allow users to easily “access, correct and delete” their personal data.
Is Apple the safest?
Cook’s views weren’t officially Apple’s position, but as CEO of the company, his opinions reflect how Apple still places significant importance on users’ privacy. Recently, some Chinese companies—including tech giant Huawei—have been accused of spying for China. The majority of AAPL users still feel safe using Apple products, including iPhones and iPads.
In January so far, as of Wednesday’s close, US companies Facebook (FB), General Motors (GM), Ford (F), Tesla (TSLA), Facebook (FB), Alphabet (GOOG), Netflix (NFLX), Amazon (AMZN), Advanced Micro Devices (AMD), and General Electric (GE) have risen 12.5% 12.6%, 8.4%, 4.0%, 12.5%, 4.3%, 31.3%, 12.1%, 6.9%, and 18.6%, respectively. In contrast, Apple and Qualcomm (QCOM) have seen 1.8% and 2.9% month-to-date value erosion, respectively.