“Apple Inc.’s stock has gotten a bad rap since Tim Cook became the boss,” Tomi Kilgore writes for MarketWatch. “Steve Jobs was a very tough act to follow. But a closer look suggests investors should be celebrating Cook’s five-year anniversary as chief executive, as he has successfully guided the technology giant — the ‘blue chip’ technology giant, no less — to become the most valuable U.S. company by market capitalization.”
“The only reason to deride that performance is if it is compared with what Jobs accomplished in the 14 years he was CEO,” Kilgore writes. “During that time, he was able to move Apple from being the 459th most valuable S&P 500 company, with a market cap of just under $1.7 billion at the end of 1997, according to data provided by S&P Dow Jones Indices, to second place, with market cap increasing by more than 200 times.”
“Everything is relative. Investors may have had to endure a turbulent ride since Cook became CEO, but it is hard to argue with being No. 1,” Kilgore writes. “Happy anniversary, Tim Cook.”
Read more in the full article here.
MacDailyNews Take: Steve Jobs was an impossible act to follow – as nobody knows as well as Cook.
Happy anniversary, Tim!
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Apple’s Tim Cook reaped $373 million in stock in 60 months as CEO – August 25, 2016
Tim Cook set to receive over $100 million on 5th anniversary as Apple CEO – August 24, 2016