“Apple closed Tuesday under $570. A little earlier in the day, it touched below $550. In the days prior to its last earnings call in April, Apple shares hit a low of $555,” Eric Jackson reports for TheStreet.
“This recent swoon, after moving from $360 in November to an all-time high of $644, has brought out a chorus of Apple-worrywarts,” Jackson reports. “They are saying this is just the start of a broader pullback. They’re saying this is due to investors who are worried about carriers pulling their subsidies on future iPhones. Any pullback in Apple shares also seems to bring out the concerns about whether the largest company by market capitalization can still keep growing. The other day, I spoke with a good friend of mine who worried about Apple’s stock that: ‘Steve’s no longer there and their markets are brutally competitive.'”
Jackson reports, “Apple could have the most amazing management team in the world, but none of us would talk about it, because Steve Jobs was that good a CEO… Five stars stood in the shadow of Jobs: Tim Cook, Eddy Cue, Phil Schiller, Scott Forstall and Jony Ive. (I should also include a sixth, CFO Peter Oppenheimer, who does a great job in his role.) Despite worries by some after Jobs’ death, they’re all still at Apple… I’ve said before that I believe Steve Jobs’ final act of brilliance — his gift to all the great people who built Apple into what it is today — is going to be his succession plan. And not just at the upper levels of management, but throughout.”
Read more in the full article – recommended – here.
MacDailyNews Take: Congrats, Oppy, for the parenthetical mention!
Jackson is right, of course. By all accounts, Jobs was focused on making sure Apple was set up to be a lasting endeavor.
Some people see (or claim) doom. Some people see buying opportunities. What do you see?
[Thanks to MacDailyNews Reader “Ellis D.” for the heads up.]