“A few weeks ago, the ‘fire Tim Cook’ bandwagon appeared to be gaining steam. Then Apple followed through on lame promises, spewing the most hollow of band-aid approaches — an increased dividend and stock buyback,” Rocco Pendola scribbles for The Street. “Shares popped on the rumors and maintained steam on the official announcement, adding roughly 16% since April 19. As far as most critics and cynics go, everything must have changed.”
“The ‘can Cook’ talk mysteriously ceased,” Pendola laments. “Yet nothing really changed at Apple. The story should have remained the same — dividends and buybacks do nothing other than provide temporary relief for the stock price. They provide a lift and some sort of relatively shaky floor, but they do nothing — at least nothing we should perceive as a tonic — to alleviate the root issues at Apple. Matters dealing with long-term innovation — the ability to do something other than improve (or so we hope) existing products and services — under Tim Cook.”
This is, Pendola claims, “a time littered with uncertainty that hasn’t existed in years as Steve Jobs rolled out hit (iPod) after hit (iPhone) after hit (iPad).”
Read more in the full article here.
MacDailyNews Take: iPhone was released 5 years, 7 months, and 19 days after iPod. iPad was released 2 years, 9 months, and 5 days after iPhone. Tim Cook has been Apple CEO for 1 year, 8 months, and 19 days.
this Pendola guy is mad at Tim Cook because at the same time that Eihorn was making a big scandle about apple’s share price , pendola was doing it to. Apple did reply to Eihnorn but didn’t give a shit about him. So he decided to insist and make this his reason to live.
It’s 2013 and he still goes by the name Rocco… ‘Nuff said
Any CEO who is running his company based on what Wall Street analysts say he should do should be fired. That’s not Cook.
These analysts are amazing. They act as if every March Apple just walks onto stage and pulls a new product out of its magic hat. “No big deal, we worked on this in our spare time.”
There are many, many many more companies which should lose their CEOs before Apple fires Cook (like almost all of them). Why isn’t Pendola clamoring for the head of Sony to be fired, or Microsoft, or GM, or Dell? Because Pendola needed hits today, so of course, pen a silly article about firing Tim Cook.
I think you mean Pendola needed hit after hit after hit (today)…
As long as those hits are done with a baseball bat I see no reason to complain.
Investors, all they want is more. Hey, after they get rid of Tim, lets bring in Meg Whitman. How sad and tragic.
I would sack Wall Street it’s clearly an Asian sleeper cell or perhaps sleep walking cell is more accurate.
This guy Pendola is a real disingenuous jerk, based on this article.
I was going to write here: “where do all these sh!t for brains, dumba$$ arrogant over critical son of a sausage mugger fudgers come from?!” But then I realized I’d be wasting my time, so I went went to find a lost fart in a perfume factory instead.
You say Pendola, I say Piñata, let’s call the whole thing off.
The “root” of Apple’s problems are blogger-journalist-analysts. (said with a foul taste left in month). Maybe we should really just get rid of them. I’m guessing that Australia has closed off that particular import, right?
We have plenty of knukleheads here as it is.
Seems like he cherry-picks his timeline. Instead of asking, “What changed at Apple to cause all the ‘can Cook’ talk to cease?” he should have asked, “What changed at Apple to cause all the ‘can Cook’ talk in the first place?” Answer: Nothing. In both cases: Nothing. Ergo the whole premise of his soapbox is false.
Your splendid logical analysis is wasted in this particular case, as the subject of our investigations is a simple ass.
MacDailyNews Take : great!!!
MORON!!!!
Absolutely! Fire Tim Cook!
I have been way in front of this, calling for the immediate Firing of Tim Cook far longer than anyone else. I know that the value of Apple will only be unlocked once Tim Cook is unemployed.
You really are the joker. Tell us another one.
If I was on the Apple board, Cook would have less than 1 year, 8 months, and 19 days to roll out a more complete family of iPhones.
Cook’s little stock game may have distracted a few investors who have no interest whatsoever in anything besides short term profit, but to any investor that actually in in for the long term and wants the entire Apple community to prosper, it is troubling to see Cook fiddle away while competitors nibble away at the one current iPhone model on the market.
Apple users and investors need to see new products proving Apple’s future growth potential ASAP.
Apple should sue this ass. Tim is doing a great job under difficult times. Analysts and the shitty NY Times are doing everything they can do to derail the truly only innovative company. Yet he perseveres. Come on folks. How many of us, and especially ass holes like this could manage a company. My view. Not a single one.
Several years ago, Rocco Pendola was pedaling his brand of attack financial journalism on the Seeking Alpha website. Even then, he was viciously critical of Apple. I believe Mr. Pendola has been banned from the Seeking Alpha site because of his half truths, financial nonsense, and outright baloney.
Any rational analysis of Tim Cook’s performance for the last few years would judge him to be an extraordinary leader. Mr Cook brought Apple through an exceptional period of change. In other corporations, the loss of a leader with the stature of Steve Jobs often leads to near civil war conditions as internal power groups strive for control. The transition under Cook has been very smooth, with only the incompetent mapping fiasco marring the period. The maps have been repaired. The company is progressing.
At the same time, Mr. Cook successfully replaced Samsung as a truly major semiconductor supplier, replaced for obvious reasons. This transition appeared to be nearly seamless to outside observers. Internally, the work load for such a supplier transition had to be enormous.
In addition, Mr. Cook structured the company’s move into China, a market with a potential sale increases of over 500% above U.S. levels of demand. Mr. Cook’s expertise in logistics for markets this size will be very useful.
Fact is, Apple has grown by over $100 Billion in sales per year, and in just three years, a flatly astonishing record. Apple has added the equivalent of three corporations the size of Google in that three year period. Holy cow. It is obvious that many new products are getting the final polishing that Apple customers have learned to love.
I find Mr. Pendola’s claim that nothing has changed at Apple to be strikingly ignorant and foolish. Please do not quote him again. I have seen graffiti on bathroom walls that had more credibility.