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No one cares if PNG has lossless compression because you aren't sending that to Apple. You're sending the "converted version", which would give you a JPEG representation
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Maybe YOU are sending them JPEG. I am sending the TIFF. They take either JPEG or TIFF.
TIFF is lossless. You're conveniently skipping over that part.
I reiterate: since they take two formats, one lossy, one lossless, why on earth would you send them the lossy format, given a choice? Since we do have a choice, I'll send them the lossless version, thank you!