“Capitulating to the public on how to allocate capital. Butchering the release of Apple Maps. Allowing people such as David Einhorn to control the conversation that surrounds Apple. Ending the incredibly effective practice of sandbagging guidance,” Pendola writes. “No big deal on their own. Put them together, however, and you look back on each as signs that Tim Cook got in over his head and might ultimately beat Apple into the ground.”
Pendola writes, “When you think about it — how is the situation with Cook at Apple any different than what went down with Ron Johnson at J.C. Penney? There’s one significant difference: Johnson took over a mess, whereas Cook inherited a company firing on all cylinders. The trajectory of the two names, by and large, has been about the same. Of course, relative to JCP, AAPL enjoys a slight bit of cushion.”
“But there are so many similarities,” Pendola writes. “Apple and J.C. Penney hired men who performed admirably under Steve Jobs. Both boards of directors went all-in, convinced that Cook and Johnson delivered true unfiltered results. At this point, however, it’s all but an objective statement of fact — these cats enjoyed the rare thrill of riding shotgun with Steve Jobs.”
Full article here.
MacDailyNews Take: Same old story from one-note Rocco.
We can’t wait for Tim to prove him wrong!
BTW, Rocco, all Tim Cook did last quarter was to post the most profitable quarter for a tech company in history.
[Thanks to MacDailyNews Reader “gavin” for the heads up.]