With less than a week to prepare for his appearance at a Senate hearing that is looking into Apple’s (NASDAQ:AAPL) offshore tax practices, CEO Tim Cook has announced that he plans to ask for a corporate tax law overhaul while he is in Washington. According to the Washington Post, Cook is seeking a “dramatic simplification” of the current corporate tax laws and will offer up several specific changes he believes will encourage more companies to repatriate overseas earnings.

Apple currently keeps approximately $100 billion of its cash reserves overseas and out of the reach of America’s tax collectors. Apple could face a corporate tax rate of 35 percent under current U.S. tax laws if it tries to bring its cash into the U.S.

Apple is definitely not alone in using this type of tax-avoidance strategy. JPMorgan (NYSE:JPM) estimates that over 1,000 U.S. companies hold a combined $1.7 trillion in overseas earnings.

Although many companies share Cook’s view that the corporate tax rate should be lowered, it’s not clear whether this would actually change most companies’ tax-avoiding tendencies. Allan Sloan at CNN Money notes that a 12 percent corporate tax rate reduction in 1986 had little to no effect on most companies’ inclinations to play overseas tax games.

Other than a promise to outline specific measures during his appearance in front of the Senate Permanent Subcommittee on Investigations, Cook has offered no further details on his vision for a reformed corporate tax code. Via The Washington Post, Cook noted that “Apple likely is the largest corporate taxpayer in the U.S.” Apple paid $6 billion in federal corporate income tax last year and is on route to pay $7 billion in federal taxes this year.

Apple closed up 1.33 percent, or $5.71, at $434.56 on Thursday.

Here’s how Apple traded on Friday:

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The display resolution of Apple’s (NASDAQ:AAPL) iPhone and iPad products may soon get even better according to an Apple graphics technology supplier. Imagination Technologies is a U.K.-based manufacturer that supplies the graphics processing units, or GPUs, for Apple’s current iPad and iPhone models. Imagination Technologies’ Tony King-Smith, who is the vice president of marketing, recently discussed his company’s GPU innovations with Brooke Crothers at CNET.

King-Smith explains how the latest PowerVR Series 6 “Rogue” GPU will improve the resolution and graphics processing capabilities of Apple’s next generation of devices. King-Smith notes that the “Series 6 is fully optimized for GPU Compute,” which allows the GPU to handle more of the tasks that would normally be handled by the central processing unit, or CPU. Future iPads and iPhones could utilize this increased processing capability to deliver “Xbox and PlayStation 3-class graphics.”

As resolution increases on displays, every additional pixel requires more GPU power. However, the PowerVR Series 6 chip is able to power higher resolution displays such as Apple’s Retina display. The PowerVR Series 6 chip’s increased processing power could allow the iPad mini to be fitted with a Retina display without sacrificing its sleek profile.

King-Smith notes that increasing the GPU cores as his company has done on the new PowerVR Series 6 chip greatly improves the overall performance of devices. Although King-Smith was tight-lipped about whether or not this new GPU will be utilized in the next generation of Apple’s devices, it is already known that Imagination Technologies currently supplies GPUs for Apple. The partnership is likely to continue since Apple has a 9.5 percent stake in Imagination Technologies.

Here’s how Apple has traded so far this week.

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In the early 2000s, Nike developed an eyewear prototype that was code-named “Magneto.” The concept was to pare down the bulkiness of traditional glasses by eliminating the need for supporting earpieces. This was done by using medical-grade labels and adhesives to attach magnets to the side of a user’s head. The magnets would then attach to matching magnets in the ultra-lightweight eyeglasses, holding the glasses in place without the use of earpieces.

However, in the end Nike CEO Mark Parker decided to kill the project. Parker credits Steve Jobs’s input and natural “B.S. meter” in convincing him to end further investment into the innovative eyewear device.

Although Nike’s Magneto glasses may not have contained a computer like Google Glass, it is easy to imagine what the sports accessory company may have eventually turned this product into. After all, how hard would it be to integrate a FuelBand device into Magneto’s construction?

On the other hand, Steve Jobs may have been right on the money when he advised Parker to abandon the magnetic eyeglasses concept. “I didn’t think consumers would actually get to a point where they were comfortable taping magnets to their head. There were better solutions,” Parker told Fast Company.

Here’s how Apple and Nike have traded so far this week.

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Although DigiTimes has had a mixed record when it comes to the accuracy of its reports, this timeline does line up with Tim Cook’s assertion last month that Apple would be unveiling “exciting new product categories” through the fall and 2014. However, the news of the iPad mini 2 launch was actually a side note in the main story that focused on AU Optronics’ (NYSE:AUO) declining shipments of panels for the current iPad mini.

AU Optronics is reportedly experiencing a decline in orders from Apple and is expected to see its second quarter iPad mini panel shipments drop to between 2.5 and 1.8 million from 4 million units in the first quarter of this year. Although Apple seems to be reducing its reliance on AU Optronics, the company still submitted new iPad mini sample panels to Apple for the Cupertino-based company’s approval.

Via DigiTimes, the anonymous supply chain sources report that, “AUO’s drop in the second quarter will also come as overall shipments for the iPad mini are expected to drop around 20-30 percent on quarter to around 10 million units largely due to the time period traditionally being a slow purchasing period for consumers. The remaining seven million panels for the device are expected to come from LG Display.”

Here’s how Apple, AU Optronics, and LG Display have traded so far this week.

Don’t Miss: Apple Goes Big With New Display Technology.

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Is Apple (NASDAQ:AAPL) gearing up for the introduction of large-screen displays on more of its devices? A new patent application uncovered by Patently Apple reveals that the iPhone maker has proposed a new method for constructing the touch sensor panels in large-screen displays.

The touchscreens found in today’s smartphones are typically powered by touch sensor panels that are arranged in a checkerboard design, which works well on a small scale. However, this type of touch sensor panel design can become problematic on a larger scale, since the space between individual sense lines and drive lines increases exponentially.

One solution for larger touchscreens is to increase the number of sense and drive lines. However, too many sense lines can create a processing burden and slow the operation speed of the touchscreen.

In order to circumvent this issue, Apple has proposed a revolutionary construction method for the touch sensor panels in large-screen displays. Although the patent is quite technical for non- specialists, it appears that Apple has overcome the technical problems in larger touchscreens by utilizing a honeycomb of diamond-shaped sense lines and drive lines in the touch sensor panels. This layout give larger touchscreens “optical uniformity and enhance the touch detection capabilities” without the associated operational lag or display image degradation that previous touch panel designs had.

Interestingly, Apple specifically states in the patent that this new design is primarily for a “computer system,” which the company seems to indicate is a type of MacBook. Although Apple could conceivably implement this technology into an iPhone or iPod touch, it seems the Cupertino-based company is looking to possibly create a notebook-tablet hybrid. Apple has already revealed a patent that covers a hybrid notebook-tablet device with a detachable screen that is held in place by magnets.

Here’s how Apple has traded so far this week.

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Don’t Miss: Hey, Hedge Fund Managers Still Love Apple!

Despite some well-publicized hedge fund managers’ abandonment of Apple (NASDAQ:AAPL) in their latest 13F filings, it appears that the Cupertino-based company is still a favorite tech stock pick for many others. Many investors and analysts reacted prematurely to the news that some prominent investors had drastically cut their stake in the iPhone maker. This resulted in a 3.4 percent drop in the stock on Wednesday, as other investors followed these large hedge fund mangers’ lead.

David Tepper — the billionaire manager of the Appaloosa Management hedge fund — was one major investor who cut his stake in Apple by 41 percent in the first quarter of this year. George Soros’ Soros Fund Management also substantially reduced its stake in Apple to a 0.66 percent stake. Julian Robertson’s Tiger Management went even further, selling all of its 42,125 Apple shares that it held at the end of last year.

However, despite the high profile of these money managers, it is wise to remember that they only manage a fraction of the more than 8,000 total hedge funds that exist in the industry. MarketWatch notes that Apple is still held by 148 of the top-tier hedge funds in the first quarter 2013.

Apple also has its fair share of celebrity hedge fund manager boosters. David Einhorn — who is familiar to many Apple watchers as the activist investor who sued the company earlier this year in an attempt to push Apple to return more capital to shareholders — increased Greenlight Capital’s (NASDAQ:GLRE) stake in Apple by a staggering 83 percent. Ken Fisher of Fisher Asset Management increased his Apple position by 58 percent.

So, everyone take a deep breath. Apple is still a premium technology stock that will most likely remain in the majority of hedge funds’ equity portfolios for at least another quarter.

Here’s how Apple has traded so far this week.

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One of the major reasons that Apple is failing in the Indian market is because of a lack of Apple stores. India has laws that prohibit the Cupertino-based company from opening a retail store without also establishing a manufacturing base. As a result, the only Apple retail presence in India is through “Apple Reseller Stores,” popularly known as “iWorld” stores. Via Barron’s, Chowdhry notes that there are only four stores in New Delhi, and overall the stores are “very few in number and poorly located.”

Another issue is Apple’s lack of brand appeal in India. Whereas Apple has cultivated an ethos of quality and elitism in most of the rest of the world, consumers in India generally have little to no understanding of Apple’s premium services and features.

With smartphones from Samsung (SSNLF.PK) and HTC being sold at approximately half the cost of an iPhone, many Indian consumers see no benefit in getting an Apple device. Chowdhry estimates that only about 60 million out of India’s total population of a billion can even afford an iPhone.

In fact, the Indian market is practically an inversion of the U.S. smartphone market. Chowdhry notes that “Samsung and BlackBerry (NASDAQ:BBRY) have constantly advertised themselves as the ‘elite’ ones. In this way, they create an environment where they tend to mentally enslave the consumer to buy their products. In terms of advertising, one is likely to see a Samsung ad every 15 minutes on television, whereas Apple ads are rarely there. Apple ads are only flashed at the time when a new iPhone is being launched.”

Because of Apple’s lack of a retail presence, low brand appeal, and higher-priced products, the company has yet to make a major impact on this lucrative emerging market. However, a well-engineered advertising campaign directed at the Indian market that is coupled with a low-cost iPhone could quickly change Apple’s fortunes in this increasingly important smartphone market.

Here’s how Apple has traded so far this week.

Don’t Miss: Has Apple Lost Its Innovation Mojo?

Bloomberg also provided a geographic breakdown of the survey. Respondents from Asia were the most critical of Apple, with 83 percent of them believing that Apple had lost its innovative touch. Europe was also quite negative on Apple, with 74 percent of European respondents saying that the California-based tech company had lost its position as a lead innovator. Sixty-three percent of U.S. respondents believe that the iPhone maker has lost its ability to innovate.

Some respondents mentioned increased innovation from Apple rivals such as Samsung (SSNLF.PK), which has a much wider range of mobile devices. Gala Prada, head of a pension funds and a portfolio manager for Fiatc Seguros, is one investor who cited Samsung’s industry innovation. “There are companies like Samsung — which are taking the lead right now innovating in all kinds of consumer and electronics products — which also make Apple, on a relative basis, look a little bit behind,” Prada told Bloomberg.

Other respondents pointed to the loss of Steve Jobs as one of the major reasons why they believe Apple has lost its innovative edge. Lionel Mellul, who heads the cash equity business at Sunrise Brokers, believes current CEO Tim Cook is not measuring up to his predecessor. “That company needs a strong personality at the helm. There is a huge challenge, and they are at the crossroads where Apple could become the next Microsoft (NASDAQ:MSFT),” said Mellul.

Although this survey appears to reflect a generally negative view of Apple’s potential for innovation, it should be noted that the survey was conducted on a rather small and select group. The survey only included 906 traders, investors, and analysts from around the world.

Apple closed up 1.33 percent, or $5.71, at $434.56 on Thursday. Here’s how Apple has traded so far this week.

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Although the FLA says Foxconn has resolved almost all of its factory safety and worker condition problems, the Chinese manufacturer is still having difficulty meeting the July deadline for reducing workers’ hours. So far Foxconn has reduced the maximum amount of weekly hours to 60. However, the company originally promised to reduce the number of weekly work hours to 40 with nine hours of overtime by July of 2013.

One of the main obstacles to achieving a reduction in the weekly number of hours a worker puts in is the seasonal nature of Apple’s product cycles. Foxconn typically keeps fewer workers employed during the slower periods and then uses overtime to meet production goals when product launch dates approach.

“They have made a lot of progress, but they still have work to do,” notes Auret Van Heerden, CEO of the Fair Labor Association via Bloomberg. Besides making Apple devices, Foxconn also assembles products for Microsoft (NASDAQ:MSFT) and Japanese electronics giant Sony (NYSE:SNE).

Apple closed up 1.33 percent, or $5.71, at $434.56 on Thursday. Here’s how Apple has traded so far this week.

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Are Apple’s (NASDAQ:AAPL) iPhones endangering the safety of commercial airplane flights? According to a Bloomberg report from earlier this week, electronic mobile devices have been wreaking all sorts of havoc with airplanes’ navigational systems for some time now. However, a careful reading of the article reveals that these alarming claims were not based on any concrete scientific evidence, but were instead based mostly on one pilot’s speculation about a particular incident.

According to NASA’s Aviation Safety Reporting System website, the 2011 incident involved a small regional airliner that experienced compass problems soon after takeoff. After a flight attendant instructed a passenger to shut off his iPhone, the “flight continued to the destination with no further problems.” However, even the pilot of that flight characterized his interpretation of the event as “speculation that cell phones left on may contribute to the heading problems” based on the fact that the “timing of the cell phone being turned off coincided with the moment where our heading problem was solved.”

Although incidents like this should be fully investigated, there is still no scientific evidence that mobile devices are interfering with a plane’s electronic systems, according to the Federal Aviation Administration via The New York Times. A recent joint study conducted by the Airline Passenger Experience Association and the Consumer Electronics Association says that 99 percent of adult airline passengers brought a “portable electronic device” with them on their flight.

Almost 70 percent of these passengers used their devices during their flights. However, even when they are asked to turn off their devices, almost 30 percent of these passengers admit that they still accidentally leave the devices on. Sixty-one percent of these devices are smartphones, which undoubtedly includes many iPhones.

Based on the sheer number of people flying every year, the incidents of iPhones interfering with a plane’s electronic systems should number in the millions. However, it appears that the only evidence for iPhones causing any electronic malfunctions on flights is based on anecdotal accounts and speculation.

While one should always follow flight attendants’ instructions regarding the use of mobile devices on airplanes, it seems that there is little to no basis for concerns about electronic device usage on flights — other than disturbing a neighboring passenger as he attempts to sleep through your game of Angry Birds.

Here’s how Apple (NASDAQ:AAPL) traded on Thursday:

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