- Apple (NASDAQ:AAPL) uses Google (GOOG, GOOGL) Cloud for storing iCloud user data.
- Media outlets had reported on Google’s iCloud business win in 2016, but neither company ever confirmed the news.
- The confirmation finally came in last month’s iOS Security Guide update and was spotted by CNBC’s Jordan Novet.
- Google Cloud and its G Suite line of cloud productivity apps contribute $1B in revenue per quarter to parent company Alphabet.
- China forum: CEO Tim Cook will co-chair the China Development Forum next month. The Forum showcases global businesses and marks Cook’s fifth notable appearance in the region in roughly a year.
- Apple’s recent concessions to the Chinese government have earned criticism. The company blocked virtual private network apps from the App Store in the region and will this week move iCloud customer data to mainland servers.
- Apple’s market share has dropped from 13% in 2015 to 9% last year, which moved the company from third place to fifth, according to Canalys research.
- Apple shares are up 1.2% in a good day for FANG stocks.
- Alphabet Class A shares are up 0.5%.
- Previously: Buffett talks shop after annual letter (Feb. 26)
- Now read: Apple: iPhone Throttling Is Not Planned Obsolescence
Original article