“Apple CEO Tim Cook announced that he is gay,” Gene Munster and Doug Clinton, analysts at Piper Jaffray, write via CNBC. “It may seem strange to have Wall Street analysts weigh in on such a personal topic and we recognize that the announcement is bigger than shares of AAPL. But Cook’s decision to announce that he is gay had the potential to impact the stock and many wondered if it would. We were happy to see investors vote through a roughly unchanged stock price that Tim Cook is just as capable a CEO today as he was before the announcement.”
“Investor reaction to shares suggests they are making the bet that consumers around the world will not change how they view Apple or consume its products,” Munster and Clinton write. “Beyond Apple, as many have already commented, Cook’s announcement could open the door for more public company CEOs to live without fear of negative reaction from investors, business partners, or customers regarding personal details of their lives.”
“As analysts, we are frequently asked to evaluate management teams and their ability to lead their companies to growing revenue and profit. It’s rare and refreshing that we get the opportunity to evaluate a management team’s ability to drive positive change on a societal level,” Munster and Clinton write. “Given their history, it’s hard to imagine a more fitting person than Tim Cook or company than Apple to push Wall Street and the world toward a better place.”
Read more in the full article here.
Related articles:
Goldman Sachs CEO: Apple’s Tim Cook coming out as gay ‘will resonate powerfully’ – October 31, 2014
Human Rights Campaign: Tim Cook’s announcement that he is gay will save countless lives – October 30, 2014
Apple CEO Tim Cook: ‘I consider being gay among the greatest gifts God has given me’ – October 30, 2014
Apple joins Gay Pride parade in Austin, Texas – September 21, 2014
Apple releases video highlighting employee participation in San Francisco’s LGBT Pride Parade – July 8, 2014
Tim Cook, Apple employees march in LGBT Pride Parade in San Francisco – June 30, 2014
Apple inviting employees to march in annual San Francisco LGBT Pride Parade – May 7, 2014
Apple donates $100,000 to fight same-sex marriage ban in California (Proposition 8) – October 24, 2008
Yep, don’t care. Must have been the worst kept secret in Silicon Valley anyway.
I know. Like who didn’t know already? lol. iHaters probably.
The iHaters certainly knew about it. Unfortunately for the iHaters, the majority of us have no issues with Tim’s sexual orientation and do not even consider it to be news. And investors appear to care a great deal more about Tim’s logistics/operations genius and ability to lead the company in the post-Jobs era.
It must have been difficult for a private person like Tim Cook to make a public announcement. I admire him for it and I see it as one more small step along the path to true harmony where these types of things do not matter at all.
People often talk about topics like this in terms of “tolerance.” That has always sounded far too negative and condescending to me… I “tolerate” your preferences and beliefs?!
Some people go further in the positive direction and talk about “acceptance.” Acceptance and inclusion is certainly a major step in the right direction.
But I do not see that as the ideal. In my opinion, the true victory for humankind will be when the topic does not even arise because it is simply part of the way things are. It is not questioned, criticized, tolerated, or accepted. It just is.
Well, your sanitized Disney view that being gay is as normal and 100% compatible with life on earth is a pie in the sky WISH. Nothing more.
Gay lifestyle and sex acts will always be repulsive to some citing going against nature and God.
Personally, I do not have a problem and all power to them.
But people are different and entitled to their opinions and beliefs. So bottom line: No. Gay acceptance will never be UNIVERSALLY on par with cute babies and soft puppies.
TOLERANCE Kingmel.
KingMel:
TOLERANCE is the best and most polite way to coexist with those you disagree with. Not condescending at all. I’m surprised you don’t know that.
It is more that I respect other people’s God given gifts than “don’t care”; though I must say I felt some anxiety.
I wish Tim had learned from Steve Jobs that you keep even your commonly known “personal” information and opinions at home. As the CEO of the world’s largest PUBLICLY TRADED company, your focus should be on the company and investor’s share value. If he wishes to leave Apple and move his personal projects and opinions forward in the public, he should have at it as the FORMER CEO of Apple NOT the ACTING CEO.
I agree, the announcement was for political, not personal reasons.
I am pleased to see that even on a forum that normally tilts to the reactionary right, that both Jersey Trader and botvinnik’s takes on Cook’s announcement are being soundly voted down. Even if you are stockholders, you don’t get to tell Tim Cook how to run Apple – that is the job of the Board of Directors, and right now, there is exactly ZERO chance they are anything but absolutely delighted with Cook’s performance as CEO. If you don’t like the fact that he is gay, you can do what I do with Chic-fil-A (which I don’t like because the owners are openly homophobic religious zealots), and that is not buy the products.
Good luck with that.
In all fairness, neither JT or B stated that they don’t “like the fact that he is gay…”.
But as stated above, it wasn’t much of “coming out” for most of us. And as Predrag states below, Tim’s job is CEO, but he is still a citizen with full rights to write about a cause dear to him.
Ralph M., it may appear that this forum normally tilts to the right. However, my opinion is that the “volume” of the right-leaning forum participants just makes it seem that way. As a long term participant in this forum, I believe that the forum is more moderate, as a whole.
The forum DOES TILT to the right in volume of postings. The right simply makes more sense and lives in the REAL WORLD. Not movies, books, TV or music idealism.
The down voters on the other hand are decidedly from the LEFT. Why? Because that’s all they have not making sense day to day and unable to counter common sense in an articulate argument.
Down votes coming in 3… 2… 1…
Like I care. 🙂
JT and B are being voted down for TELLING THE TRUTH.
I find it comical so many voters are SOOOOOOO STUPID! And then I think of the current resident of the Oval Office.
Nuff said.
That would be highly unusual. Most CEOs of large companies are well known for their personal causes, and often times they are political or controversial.
As CEOs, these people have a powerful public voice, and most are expected to use it to greater good.
Steve Jobs was very much like Tim Cook; while he didn’t specifically announce that he was gay (because he wasn’t), he did publicly provide plenty of very, very strong opinions that often didn’t go well with one political party or another.
I don’t understand all this hype about him being gay… It’s not really news… Honestly, we’ve known for a few years now!
rumor from 2008
http://gawker.com/5082473/is-apple-coo-tim-cook-gay
Article from 2011
http://gawker.com/5736917/meet-apples-new-boss-the-most-powerful-gay-man-in-silicon-valley
If anything, it shows the shallowness of the analysts. According to standard theory, the knowledge that Cook is gay has been baked into the stock price for several quarters, at least. A mere public acknowledgement of what everyone already knew should not change the stock price.
What an honor!
Unless Russia gets it’s act together, there won’t be anything to be banned from…
Tim controls more cash than Putin!
Not true, unofficially it’s tallied that Putin controls approximately $2 trillion, shared among multiple accounts, aliases, family members, friends etc.
This is just rumor.
You say that right now but you havent seen the backlash for this yet. It is wreckless to think that TC can use Apple as a sounding board for LGBT rights. He said it to the state of ALA and is saying it now.
What hypocrisy! If he came out and said im a Christian!, he would be on the wall in front of a firing squad.
But anyways, You cant make personal life out of a business unless that is the only people you want to do business with.
Birds of a feather flock together.
Shareholders and end users will quit using Apple products. Say what you want, it will happen. It would happen to anyone who runs a business.
So what you’re saying is that when someone goes to buy a new smartphone, they’re going to think “Gee, I’m not going to buy the best smartphone in the world because the CEO is gay! Instead, I’m deliberately going to buy an inferior product to send a message to him. For sure that’s going to stop him and all those other gay guys from being themselves. It might even cure them…”
“Reality Check,” your check has clearly bounced. You stated:
That statement is so ridiculous that I am at a loss for words. It is highly distressing to witness how screwed up some human beings really are. The perceived anonymity of the internet really brings out people’s true natures, and some of them are unspeakably horrible.
You mis interpret what I said. As usual, you are judgmental. Any business, aka chic fil a, that makes a position on anything, disposes someone else who doesn’t agree. As such you. It’s a business. Not a non for profit. And anonymity…….F off.
I don’t care about him being gay, but I don’t think announcements such as this are in the company’s best interest. He should stick to running the company and leave his personal business home.
Did he announce it at an Apple event? Or did he do it as a U.S. citizen as protected by his Constitutional rights?
“Apple investors don’t care that Tim Cook is gay.”
Some of the single ones certainly do : )
The reaction to all of this seems strange to someone from Canada .It must have been 50 years ago that our the Prime Minister said that the state had no business in the bedrooms of the nation and we have had gay rights for 30 years , gays in the military and gay marriage for many years .Business still gets done-the sky hasn’t fallen in and family life is as strong as it ever was .
Still if what TC did helps some confused and otherwise distressed young people find peace , good for him .
My savings account doesn’t care what your sexual preference is.
Just one more reason not to bend over in the showers.
I wonder what Apple fan Rush Limbaugh is going to say about this?
😀
He will say………and you will a curse him….Jerk!
Tim is no different today than he was a week ago. So anyone’s ire is completely unfounded. His coming out is a kindred boost to anyone else who feels trapped and can’t stand up for themselves because jerks think that 10% of the population shouldn’t exist or is wrong.
Gender preference is a spectrum attraction, which for some people is very specific and stable, while others tends to float around.
For Apple, I would prefer a stable person who can commit to a single partner than someone who can’t decide or has wandering eyes.
Any CEO who has an affair while in marriage, to me, is an untrustworthy person, and not worthy of leadership.
Not that it makes any difference, I am left-handed and I know what it’s like to be different, even though it’s not a problem today. It used to be, in history, left-handed people were “devils” children, and they were beat and forced to use their right hand.
Even recently, parents try to cure their gay children at special spiritual camps, run by “converts” who ultimately can’t change. Pure torture.
Wow. Truly messed up you are. Me think you need help
Elaborate. If you think I need help, do share.
I’m not interested in his gay life choice. I just don’t think I should be dealing with it. It’s how decision. Just shut up and run apple but don’t be a social advocate and use your portion at Apple for his choices. Just shut up Tim and run apple.
It sounds like you have more to deal with than tim being gay, please deal with that so you don’t have to feel like you have to deal with him too. It must be overwhelming dealing with 10% or the human population. Just deal with yourself and save yourself some
of whatever you lack
It’s funny how all the gays get here and support gaydom! But all the straights that say ANYTHING are demons. And don’t go getting all emotional. It’s the same thing you have been calling organized religion. You better hope Muslims don’t start to rule or you will start to not exist.
If anything I’m shocked people didn’t already know, and what’s with all the publicity anyway? Who cares!? It’s private. Do you go around telling the media “I fuck my wife at night”? No, it’s nobody’s business for one, and no one should have any opinion toward something this private even if made public.
Wow well put. But since you got a negative star because you used the word “wife” I will assume it was posted by a gay person because they don’t believe in opposite sexes marrying, having biological babies, raising children in heterosexual, dis functional, (because Gaye’s have figured it all out), struggling relationships/marriages. And can blame the absolute so far right for their biological choices or no choices. Whatever. Apple will lose unless TC RESIGNS.
This explains why the company is doing so well.
I really don’t care who he sleeps with.
I’m sure Wall Street already knew and whatever it was or wasn’t worth has been factored into the stock price for some time.
As for me, it no news.
Who gives a damn?! Apple’s stock hit an all-time high today—$108. As long as Tim Cook keeps increasing the value of my stock, I don’t care what what his religion is, what color Jockeys he wears, or whether he eats Grape Nuts. Period! End of story!
Does this mean Chick-fil-A won’t be accepting Apple Pay? 😉
No. It means………forget it.
CNN also seems to care – not sure why though…
So, why write this article?
Indeed I didn’t care.
But can we not make the centerpiece of his CEO-ness?
I honestly don’t care if he (or anyone else) is gay. But don’t expect me to celebrate it.