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
"For December 7 specifically, we've combined two Tim Cook media appearances into one: First, a Bloomberg Businessweek story by Josh Tyrangiel published that morning, and an appearance on Rock Center later than night," The Huffington Post said. "Apple's stock did bump after the Businessweek story was published, but then declined following the airing of the Brian Williams spot several hours later."
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.
Stay On the Cutting Edge: Get the Tom's Hardware Newsletter
Get Tom's Hardware's best news and in-depth reviews, straight to your inbox.
-
lunyone Could it be that the market is just re-positioning the stock down to it's realistic value?Reply -
Chairman Ray Losing almost 1/3 of stock price in just a quarter is quite a downfall. They still won't beat how fast Facebook's stock fell though.Reply -
bluekoala lunyoneCould it be that the market is just re-positioning the stock down to it's realistic value?Reply
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. -
bluekoala Chairman RayLosing almost 1/3 of stock price in just a quarter is quite a downfall. They still won't beat how fast Facebook's stock fell though.Reply
Look up Nortel Networks.
That has been a disaster here in Canada. -
memadmax It's because he and the company haven't found any new ways to sucker the kids into buying their products....Reply -
The_Trutherizer The market can be a nasty place. But then Apple's strategy and pricing has always been a bit nasty as well. Cook is just not as good at selling it.Reply -
kineticsteel IF this is true, I wonder why Tim hasn't noticed and decided that maybe he should find someone else to do pr for him?Reply -
mman74 lunyoneCould it be that the market is just re-positioning the stock down to it's realistic value?Reply
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! -
steve360 Here's a brilliant idea - tell Tim Cook to shut up. Oh wait, he's the CEO...he really can't.Reply