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Apple's been working on the process since 2015, when three of its engineers went in search of a cleaner, better way of mass producing aluminum. Now, it's joining Alcoa and Rio Tinto in a new joint venture called Elysis.
Alcoa, a maker of aluminum, kicked off earnings season with a miss for both earnings per share and revenue.
As usual, Alcoa unofficially kicked off the busiest reporting season on Wall Street.
Its revenues fell 15% year-on-year. A 6% gain was offset by a 21% decline caused by low alumna prices and the strong dollar.
Alcoa generated revenue of $5.25 billion, which was a bit lighter than the $5.30 billion that was expected.
The hedge fund has a 6.5% stake.
Almost all of Alcoa's operating segments are expected to do worse than previously forecast in China.
The aluminum giant last week announced it is splitting into two publicly traded companies.
Morgan Stanley and Greenhill are working on the split of Alcoa into two companies.
Analysts broke down the segments' valuations in a note last week.