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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Apple Inc.    AAPL

APPLE INC.

(AAPL)
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Apple to Open Developer Academy, Provide Funding for Minority Entrepreneurs

01/13/2021 | 10:31am EST

By Sarah E. Needleman

Apple Inc. is launching several projects to extend education and funding opportunities to minority entrepreneurs, part of the $100 million pledge it made in June to help combat racism in response to the national outcry over George Floyd's killing.

The iPhone maker on Wednesday said it would open a software-developer academy in Detroit later this year and launch two venture-funding initiatives for young "Black and Brown entrepreneurs," with the goal of helping to build the next generation of diverse leaders.

"We are all accountable to the urgent work of building a more just, more equitable world," Apple Chief Executive Tim Cook said in a statement. "And these new projects send a clear signal of Apple's enduring commitment."

Last year, Apple and fellow tech titan Alphabet Inc.'s Google, major banks such as JPMorgan Chase & Co., toy company Hasbro Inc. and others collectively pledged tens of billions of dollars toward racial-equity efforts. The moves came after Mr. Floyd, a Black man, was killed by police in May, inciting a national debate about systemic racism. At the time, the companies said the money they pledged would go toward boosting the net worth of Black families, creating professional opportunities for minorities and diversifying their own ranks, among other outcomes.

Apple is among the first to follow through on its plans, which include investing $10 million in Harlem Capital, a New York early-stage venture-capital firm, to support its investments in 1,000 companies with diverse founders over the next 20 years. Apple said Harlem Capital would provide support to students at Apple's new developer academy in Detroit, a hub being built in collaboration with Michigan State University.

Write to Sarah E. Needleman at sarah.needleman@wsj.com

Corrections & Amplifications

This was corrected at 11:14 a.m. ET because the original version incorrectly said Apple made the announcement on Tuesday, and that the companies collectively pledged tens of millions of dollars. Apple Inc. said Wednesday it was launching projects to extend opportunities to minority entrepreneurs. Last year, Apple and other companies and banks collectively pledged tens of billions of dollars toward racial-equity efforts.

(END) Dow Jones Newswires

01-13-21 1031ET

Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. 0.45% 1892.56 Delayed Quote.7.98%
APPLE INC. 1.61% 139.07 Delayed Quote.3.15%
HASBRO, INC. 0.49% 97.48 Delayed Quote.4.21%
JPMORGAN CHASE & CO. -0.77% 133.79 Delayed Quote.6.11%
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Financials (USD)
Sales 2021 318 B - -
Net income 2021 67 229 M - -
Net cash 2021 96 637 M - -
P/E ratio 2021 34,7x
Yield 2021 0,61%
Capitalization 2 340 B 2 340 B -
EV / Sales 2021 7,06x
EV / Sales 2022 6,60x
Nbr of Employees 147 000
Free-Float 98,9%
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Technical analysis trends APPLE INC.
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 44
Average target price 133,29 $
Last Close Price 139,07 $
Spread / Highest target 15,0%
Spread / Average Target -4,16%
Spread / Lowest Target -42,5%
EPS Revisions
Managers and Directors
NameTitle
Timothy Donald Cook Chief Executive Officer & Director
Arthur D. Levinson Independent Chairman
Jeffrey E. Williams Chief Operating Officer
Luca Maestri Chief Financial Officer & Senior Vice President
Kevin M. Lynch Vice President-Technology
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