Apple CEO Tim Cook this morning emailed CNBC’s Jim Cramer about the company’s performance in China:
As you know, we don’t give mid-quarter updates and we rarely comment on moves in Apple stock. But I know your question is on the minds of many investors.
I get updates on our performance in China every day, including this morning, and I can tell you that we have continued to experience strong growth for our business in China through July and August. Growth in iPhone activations has actually accelerated over the past few weeks, and we have had the best performance of the year for the App Store in China during the last 2 weeks.
Obviously I can’t predict the future, but our performance so far this quarter is reassuring. Additionally, I continue to believe that China represents an unprecedented opportunity over the long term as LTE penetration is very low and most importantly the growth of the middle class over the next several years will be huge.
MacDailyNews Take: This effort to drag down Apple, whether due to panic, shorting, malice, confusion, idiocy, or whatever is a godsend those those looking for inexpensive AAPL shares.
Bravo TC for speaking up amid the market bloodbath.
That’s what I was thinking. Cook needs to do this a bit more frequently. It might go a really long way toward stabilizing AAPL’s price and warding off the speculative volatility.
It is also worth noting that Apple did very well during the 2007-2009 economic downturn in the U.S. Unit sales of iPhones and Macs continued to grown, and Apple continued to increase investments in R&D and its facilities and workforce.
The same may happen in China, depending on how severe their economic crisis becomes and how it affects consumer behavior.
Oh ye of little faith…
Held through it all. Dividends going into more AAPL.
Only an idiot would sell and ignore a steal when they see it
Hey troll boy suck it while you down vote and increase voting numbers, while all the rest of us buyers cash in on this fire price steal of a price for the best value stock on the planet
Sorry hawk, posted in the wrong level of the heiarcy…
Me too..almost @97.00
Hey Down boting troll boy, suck it and choke.
While you down vote and increase the voting numbers i mediately by doing so, all the rest of us buyers are cashing in on this fire price steal of a price for the best value stock on the planet.
Kudos to TC…..he went out of his way to inform AAPL investors. China is going great as I have always believed and TC has confirmed this….
Remember that share repurchases are on-going and TC providing mid-quarter info will make his stock more expensive to repurchase.
Perhaps Tim knows that Apple have bought as many shares back as they intend to for this quarter, so there would be no downside to saying what he did?
That is an interesting possibility. Normally Apple is very quiet on anything related to share price – this was very targeted comment.
So, during the turmoil of the China stock market crash Apple sales actually increased? Wow, I wonder how sales will be when their markets finally stabilize…
So much for Tim Cook sitting idly, fiddling whilst Rome burns. Instead, he advances a pawn.
Obviously you didn’t get the memo—-apppppppppppppple is doooooooooomed……nobody will buy another Apple product ever again….BOGO rules……….oH wAiT!!!!
Someone just made a ton of money
Jim Cramer is a hack.
Where is Uncle Carl? We need tweet tweets!
Absolutely illegal for TC to email Cramer. Big fines coming soon.
You really think the SEC is going to awake from its coma to single out Tim Cook for illegal communications? Only if Obama’s administration is still playing Google’s lap dog.
It’s possible that pressure from the likes of GOOG will make the SEC act, although I admit Obama loves TC, so maybe nothing happens.
That said, what TC did was absolutely unethical. The purpose of the SEC is to try to protect investors from insider malfeasance, which this clearly was.
And FWIW, I forecast that TC’s tenure at the top of Apple will not end well.
Here’s another report: http://www.marketwatch.com/story/apple-ceo-tim-cook-may-have-violated-sec-rules-with-jim-cramer-email-2015-08-24
Uh huh, Marketwatch, the same bastion of journalistic integrity that publishes every hare-brained rumour and bare faced manipulation of AAPL or anything else. This was a de facto public email by TC. You need to spend less time visiting click-whore sites, and try thinking for yourself a little.
Foris – You don’t have a clue what you are writing about. Such a “de facto public email” is absolutely against SEC regulations because the recipient was Cramer who is the fund manager for his investment fund, and who sells subscriptions to his newsletter thestreet.com. It’s OK for Tim Cook to say such things in a public speech, or to be quoted in a newspaper saying such things, but it is not OK for him to send a private email to one market participant which gives that participant the opportunity to front run information.
Arguably, the information was publicly disclosed—over the air—on the very morning of the tweet.
I assume minutes passed between the receipt by Cramer’s staff and the public disclosure of the email. That’s an eternity in today’s world, and completely against the rules without a prior SEC filing. That’s exactly the kind of communication that the SEC is supposed to be policing.
Never mind. I get it – if a liberal does it when the president is a liberal, it’s OK. But Martha Stewart (a liberal) goes to jail when it’s one of those evil Republicans who is president.
It’s all smoke and mirrors folks. The stock market is totally propped up by the Federal Reserve, including Apple. It won’t last – in the end, central banks can’t control a “market” forever – they will eventually lose control and price and demand will reflect reality, and not Janet Yellen’s wishes.
How is this NOT an illegal “Fair Disclosue” violation and why is T Cook not in jail ??
It is wiser to condemn the malicious manipulators who are illegal driving down the entire market.
Markets go down as well as up.
Only you and the Chinese government think that selling is malicious.
What’s at issue here is
1) Did T Cook file with the SEC before mailing Cramer.
2) How many of T Cooks friends and relatives stood to loose their shirts today.
3) How much effort should the SEC put into finding out if his motive is “2” before jailing him 🙂
” Hey Tim its a really bad day to price next quarters executive options ”
” No problem, I’ll just mail Cramer …”
Cramer emailed Tim Cook first.
Anyone that has TC’s contact info can contact him without the SEC batting an eye. The problem comes when TC only replies to one individual/group of investors. This could have been largely avoided if TC decided to CC the response to a good representative portion of the financial media.