Apple commits to increase annual dividend to woo investors

Apple Chief Executive Tim Cook has committed to a rise in its annual dividend to please investors but also with a sign that the world's most famous technology company may no longer be a growth stock.

As concerns mount that growth in sales of iPhones may have peaked, major US growth mutual funds have been among the largest sellers of Apple shares over the past six months or so, fuelling speculation that the company's days of supercharged growth have come to an end.

In January, Apple had forecast its first revenue drop in 13 years and reported the slowest-ever increase in iPhone shipments as the critical Chinese market showed signs of weakening.

Its shares were flat in afternoon trading on Friday. They are down about 25% from highs 10 months ago.

Speaking at the company's annual meeting in Cupertino, California, Cook also said Apple was "a staunch advocate for our customers' privacy and personal safety," as it fights a public battle with the US government. 

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