“Apple just can’t seem to make anyone happy these days,” Cadie Thompson reports for CNBC. “Investors continue to shy away from the stock, which dipped below $400 on Monday after Peter Misek, an analyst at Jefferies, lowered his price target for the iPhone maker on Monday citing supply chain checks.”
“But investors aren’t the only ones running away from Apple. The company is beginning to have an employee retention problem that could pose a serious threat if it’s not resolved soon, said Trip Chowdhry, an analyst at Global Equities,” Thompson reports. “‘The stock price cannot be turned around if Apple can’t attract people,’ Chowdhry told CNBC. ‘The employees should come ahead of shareholders. Apple needs to treat their employees like gods.'”
Thompson reports, “After speaking to recruiters at tech conferences, Chowdhry said there is a growing number of Apple employees who see the declining stock price as a sign to jump ship. The Apple workers are instead taking jobs at Google, LinkedIn, Facebook and even Hewlett-Packard, Chowdhry said. ‘They look at the stock price and they feel that the future of Apple is bleak,’ he said. ‘They feel their talent could be more useful elsewhere than at Apple.'”
Read more in the full article here.
MacDailyNews Take: Step right up, ladies and gents, the FUD parade is already in full swing!
Related article:
Apple’s employee morale problem; stock drops to $400 amid reports of employee defections – June 24, 2013
Witch Hunt. The media here is pathetic.
Dear TechTard FUD journalists:
Stab yourself with stupid articles enough times and you’re going to kill your career. 😯
There are plenty of superior new kids into tech journalism waiting in the wings. By all means, have at yourself. (0_o)
Let ’em leave. I want to take their place. APPLE, HIRE ME!
Seriously. Hire me. I’ve been a programmer for over 30 years and not once have I ever changed jobs because of the stock price of the company that I worked for. I either like the company, what I do, and my pay, or I don’t. If I own company stock, changing jobs won’t change anything. I think this article is a fake.
Apple stocks might be low but the company are still making…tons….of money
With other companies making tons-of-money are good enough for their stocks but with Apple analysts expecting more –>>”Magic wands” that is. 🙂
Apple Thrives.
Wall Street goes on an AAPL witch hunt.
What does that tell you?
Kind of obvious.
I call bullshit!
Yep
More specifically, Apple has expanded its workforce over the last few years, so staff turnover should go up even if the percentage remains the same. You’d think intelligent investors would be able to figure that out. But then intelligent investors must be realizing by now that stocks under the current system, which is dominated by unintelligent herds of morons who follow analysts, is not such a good idea.
I can see why the super-rich have private companies. It’s why they are super-rich.
Ha jumped ship to HP for stability. That’s like stepping into a smaller boat in much rougher seas. That is hauling dynamite, gasoline, small pox and is on fire and partially submerged. All while being surrounded by sharks with friggen laser beams attached to their heads.
Darn Wall Street! All you could come up with for hating on Apple today was sea bass?
Hey MDN,
When you know this stuff is such f**king FUD – Why do you bother to put it up on your site?
@ MarkyMarc43 – its good to get it out there that this stuff is FUD! MDN does just that and is the best at it!
MDN wants to see our comments and testing our intelligence as if we are as stupid as an analysts-parasites-blood-suckers.
So that you can have a chance to say something about it…
Apple has customer satisfaction higher than any other tech company. The only reason Apple stock is down is due to the one percent that have the means to announce their ignorance and bias to the masses… Yup, the media, the tech writers, and other with more population access than brains.
Come on !! God doesn’t need money .
No wonder. Problem solved.
Consider the sources:
1. CNBC. The Persecution rests.
2. Trip Chowdry. See “short seller” on Wikipedia.
That said, any publicly held technology company, Apple included, will have a challenge to keep good employees when stock options are involved. Consider Microsoft, whose stock has been essentially flat for a number of years. That can be a drag on attracting talent. But forward-thinking Apple employees who are working on the next big thing have every reason to be patient, knowing that good days are likely ahead.
Even an Apple will lose employees who will cash out their options to launch start-ups of their own. That’s not unusual in the Silicon Valley. But without facts and metrics to back up their accusations, (“prove it, asshat”), Chowdry’s appearance on CNBC was yet another analyst circle-jerk.
And this, ladies and gentlemen, is why I don’t waste my time on CNBC. It’s nothing but touts and shills.
There is also the fact that companies needing talent poach good people from their competitors. And the reality is that is what is happening at Apple – Apple is King, and the wanna be’s think they’ll get there by taking Apple’s employees. It’s just not that easy, but very common.
Agree with MacDailyNews on this one.
If your reason for leaving your job is the stock price fell, you’re a moron. Unless your company is going down like Palm did, RIM is, etc., then stock price shouldn’t affect your work.
It’s much more likely that Google, Facebook, LinkeIn, etc. are poaching Apple employees. If someone came to Joe at Apple and offered him a 50% pay raise, company car, and stock options, and Apple wouldn’t match it, then sure, Joe should go to Google.
Apple, like any company, has to make decisions on which employees it values more than others, and how much it is willing to pay someone for doing X job.
Most people are replaceable in their job. Maybe with different strengths and weaknesses, but there are likely very few jobs at Apple that only a few special people could do.
Must be time for Goldman Sachs next extortion payment.
So what employes that are worth a damn, are leaving?
Lies my friends.
This article is hilarious article. Full of B**S 🙂 just to prove that analysts are dumb and dumber!. The more they wanted to bring down Apple the more stupidity they are….:)
Hey stupid analysts thank you but no thanks.
Agreed, all BS, while opportunities exists for all companies to take better care of employees, you can’t just single out Apple, they need to bring in all the companies that are poaching and at the same time losing employees due to “better” offers or “better” work. Seen it happen both ways with friends.
“But investors aren’t the only ones running away from Apple. The company is beginning to have an employee retention problem that could pose a serious threat if it’s not resolved soon, said Trip Chowdhry, an analyst at Global Equities.”
First problem: Analyst speculation.
Second problem: What are the facts? Following an L.A. Times story in the same vein this article, AGAIN, lacks one Apple defecting employee quoted on or off the record.
Third problem: Social media gossip.
Fourth problem: CNBC clueless once again directed at Apple.
Fifth problem: Naked undocumented FUD interpretation on yet another continuing irresponsible level.
And we have to treat ANALysts ANALs they are. Gently and Rough.
What Apple has , a lot , is cash . Share prices dropped won’t affect how much Apple employees can get . Apple can always use its cash to make their staff stay .
Apple staff knows what they are doing . Apple will rise back as soon as it releases a revolutionary product .
What a chowdry head!
In a thorough search to find any concrete reports of defecting Apple employees, I found this one, single article:
Apple software engineering director departs after 12 years to join iXsystems
And what disgruntled stuff did departing engineer Jordan Hubbard have to say about Apple? None:
“I’m very excited to have this opportunity to help guide iXsystems through its next phase of professional and technological development,” Hubbard said in a statement. “This is not just a great opportunity for me to be part of a company known for its strong support of FreeBSD and other open source software, but I’m also looking forward to helping it achieve new levels of success with the TrueNAS storage appliance and having the opportunity to create future innovative products.”
This sounds exactly like what Jordan Hubbard should be doing with his career. He’s a hero of open source.
Wall Street:
DESPERATE to find ANY reason to hate Apple, and FAILing. 😛
Good research.
And there is a major shortage of toilet paper at Apple’s campus… Pls report!!!
Peter Misek? I know he is funny but credibility?
I think the media is the proem here. The media reporting the problem creates the problem. Causality loop.