“Yesterday, Apple CEO Tim Cook went on CNBC’s Mad Money, making a rare live appearance on TV to put his spin on the company’s future,” Chris O’Brien reports for VentureBeat.
“CNBC has now posted the video online so you can watch it. His interview with host Jim Cramer came a few days after Apple reported its worst quarter in years, stoking doubts about whether it could return to growth,” O’Brien reports. “Investors are clearly having their faith tested, driving the stock down from $132.54 per share on May 18, 2015 to a close of $93.64 yesterday.”
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MacDailyNews Take: While Cook makes some good points, his stooping to playing defense on live TV may seem to some to come from a position of weakness not strength.
Please, give me a break… Everyone knew that Apple could not improve on each single future quarter. But of course, jackals…
What cook doesn’t understand is people don’t want phones or just plain old smartphones likes iPhones anymore!
What people want are phones that can double up as full fledged computers like the Windows Phone!
iPhones are passé! They’re out! They’re for the old generation!
The new generation want Windows Phones!!!
Get with it Tim! Apply for a manager position at Microsoft!
And from when is apple giving to people what people ask? A phone with a physical keyboard!! A netbook computer!!
That explains why Apple only has 12% global smartphone market share!
But Apple gets 92% of smartphone industry profits. And the android escapee rate continues to climb and those folks decide to purchase iPhones.
Never knew that Apple was about market share.
If he doesn’t defend who will.
Cook would be criticized if he didn’t get out there and defend. Damned if you do, damned if you don’t.
If any other company had reported the profits and revenue that Apple did last quarter, they’d be hailed as the greatest company on Earth.
Yada, yada, yada. The price dropped at the record quarter for all business for all time the quarter before. This time it is for the second best January through March quarter for the company and shrank because of the crazy record set the year before due to unending demand for large iPhones and a booming Chinese economy. This was not Apple’s “worst quarter in years.”
You can’t fight people’s first instinct.
Hearing that Apple made less profit YOY for the first time since 2003 makes people nervous. Seeing the iPhone 6s and thinking, “Nice, but I might skip this iteration” makes them nervous about a company for whom 60% of their profit comes FROM ONE DEVICE.
How do you convince people that Apple is fine and will be fine? By showing something that makes people say, “Wow. THAT is going to have legs for a decade easy.”
Watch ain’t the thing. Not yet. Car is a huge uphill climb with lots of variables still to be worked out. VR is not quite ready for prime time. The Living Room has proved to be too entrenched for real progress.
So, Apple Apologists, the best reasons in the world won’t change the world’s visceral, emotional response to Apple these days. Reason appeals to reason. People make choices based on intuitive perceptions of risk and reward. Right now it feels like there’s more risk here than reward.
What risk? Well, that things drift for a few quarters or a few years AND PEOPLE SELL AAPL. That’s the fear.
Sure, we all know the company is going to kick ass in incredible new product categories again. Of course they will.
But in the meantime, if I own AAPL I’m afraid people are going to sell AAPL. Which makes me want to sell AAPL.
The only thing that will change my mind is my heart.
Please sell. SELL! I would love to see the share price go down. That way I could afford to buy more of it. Anyone who sold on the basis of one insanely profitable quarter that was more money than any other company made, is a fool who is operating from emotion, not logic.