“Apple Inc.’s shares are now down nearly 15% since they briefly passed the $700 mark in mid-September,” Therese Poletti reports for MarketWatch.
“The latest pinch happened on Wednesday, after the two-day trading hiatus, when the stock slipped nearly 1.5% in reaction to the company’s biggest management shake-up in years, which pushed out the polarizing head of mobile software, Scott Forstall,” Poletti reports. “While analysts have tried to soothe investors that all is well with their beloved Apple, there are increasing jitters about the changes in Cupertino, Calif., in the post-Steve Jobs era… That perspective is still in the minority. The Wall Street Journal noted Wednesday that Apple, under Cook, is run ‘more smoothly than under Mr. Jobs, when employees lived in constant fear of falling victim to a Jobs tirade or a whim,’ and that the recent shake-up demonstrates Cook’s resolve to ‘tackle thorny personnel issues that Mr. Jobs let fester.'”
Poletti reports, “everal analysts agreed, maintaining bullish views on the company despite the surprise departures that also included newly hired retail head John Browett. ‘This isn’t the first time that senior executives have departed the company,’ wrote Shaw Wu, an analyst with Sterne Agee, in a note to clients Tuesday, listing a stream of exec exits over the years that have included former finance chief Fred Anderson to hardware-engineering leader Jon Rubenstein. ‘The company has arguably not missed a beat,’ Wu continued, adding that ‘this is a testament to Apple’s strong culture that continues to endure despite changes in personnel through the years.'”
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MacDailyNews Take: The answer to the headline is: No. Quite the opposite, in fact.
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