Since Tim Cook took over as CEO, Apple has been replaced as world's most valuable firm.
For the sixth time in the past five months, Apple's stock has decreased after its CEO Tim Cook has made a public appearance and spoken.
In a trend that commenced during the October of 2012, which is when Cook introduced the iPad Mini, the streak has continued for about five months. The latest share price drop occurred on February 27, when Cook addressed investors and the media at the firm's annual shareholders meeting.
The six appearances and opening/closing share prices of Apple when Cook has publicly appeared and spoken are (the stock prices are from the following day in order to see how the markets reacted to Cook's comments):
- Annual Shareholder's Meeting, 2/27/2013 -- Open: $448.43/Close: $444.57
- Goldman Sachs Technology Conference, 2/12/2012 -- Open: $479.51/Close: $467.90
- Apple Q1 Earnings Call, 1/24/2013 (after hours) -- Open: $451.69/Close: $439.88
- "Bloomberg Businessweek" cover story/appearance on "Rock Center with Brian Williams" (after hours), 12/07/2012 -- Open: $553.40/Close: $533.25
- Apple Q4 Earnings Call, 10/25/2012 (after hours) -- Open: $620.00/Close: $609.54
- iPad Mini Event, 10/23/2012 -- Open: $631.36/Close: $613.36
Since September during the iPhone 5's launch, Apple's stock price has dropped from a record high of above $700 to a closing price of $444.57 on February 27. During that period, Apple lost its position as the world's most valuable company.
At the Goldman Sachs Technology conference on February 12, Cook stated that OLED displays are "awful", as well as stressing that Apple is "unrivaled" in innovation and that the iPhone maker has no limits.
Cook, who took over as Apple's CEO on August 24 2011 after the firm's late co-founder Steve Jobs stepped down to become the chairman of the board, has been called a technology "lightweight". David Sobotta, a former director of Apple's federal sales group, had also criticized the executive's management style.