Apple's Stock Has Dropped Last Six Times Tim Cook Talked
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.
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Yes, that and the Steve Jobs worshippers are losing confidence in their golden idol.
But in any case, I just wish all the patent trolling would cease. It keeps the prices of electronics artificially high.
Yes, that and the Steve Jobs worshippers are losing confidence in their golden idol.
But in any case, I just wish all the patent trolling would cease. It keeps the prices of electronics artificially high.
Look up Nortel Networks.
That has been a disaster here in Canada.
How does one derive a value of a company? Well there's it's physical assets, there's also it's rate of income, then there's that unquantifiable portion which can be best described as in the market's expectations for tomorrow.
So since Tim took over, what's changed? Well it's assets and income is more or less the same, and if the iPhone 5 numbers are to be believed they are in fact doing better than ever. The only thing that's changed is the leadership, and under the new guy they've stopped believin', they've lost that feeling!
Well, its not good, but there is an economical recesion after all...
Naturally, since "the market" is driven by fickle and fearful "investors" who drop shares on mere rumors. Like this example which lost Samsung $10 BILLION in market value:
http://www.tomsguide.com/us/DigiTimes-Samsung-DRAM-Elpida-Apple,news-15274.html
Oh, yeah. It is awful when you can't get them to use in your products...
This cannot depend on companies. USPO, not Apple, is broken and it's up to the politicians to fix it. Apple is just well known for misusing (heck, threatening Palm with a patent litigation if they don't sign no-hire policy!) it, but they didn't create the system.
I think you are putting more faith in investors actually knowing something about the company and "investing" their money in some kind of wise way. The stock market is, bottom line, mostly about gambling, rolling the dice just like in a craps game.
A company selling shares of itself to raise capital is a good thing, but this business of selling those shares back and forth as a normal way of doing business is just insane. And, even crazier than that, games like poker are illegal in much of America, and internet poker is still illegal. We can put the country in a recession with bad stock market gambling, but we can't play poker for fun? Absolutely looney-toons.
It's very clear to me that Apple's stock has been vastly over-valued (but then, the value of something is determined by how much a customer will pay for it, so if someone is willing to pay $700/share, it's worth that at the time.) and frankly I wonder how it got that way, and why isn't the FTC looking into possible market price manipulation (maybe they are).