“With this week marking the tenth anniversary of the unveiling of Apple’s first-ever iPhone, now seems like a good time to compare the tenures of Steve Jobs with his replacement as CEO over the last five-and-a-half years, Tim Cook,” Rachel Aldrich writes for TheStreet.
“When Jobs officially regained control in 1997 over the company he helped found, Apple shares sat near the equivalent of $0.79 apiece, accounting for two separate two-for-one stock splits during his tenure, and a later seven-for-one split. By the time he resigned as CEO in 2011, shares had skyrocketed more than 6,000% to the equivalent of about $54 per share. Over Jobs’ tenure, therefore, the compound annualized rate of return was about 35%,” Aldrich writes. “In Cook’s time so far as CEO, the stock has more than doubled to around $120, for a compounded annualized rate of return of roughly 16%.”
“The 56-year-old executive recently took a 15% pay cut for the 2016 fiscal year because Apple failed to meet its revenue and profit goals for the year,” Aldrich writes. “The company has faced criticisms recently for slowing down innovation in its devices and for failing to introduce any truly groundbreaking products… And even some of Apple’s long-standing product lines have begun to languish. Apple’s computers have long been neglected,with the iMac and Mac Pro desktops remaining untouched and un-updated for years as MacBook Pro was given an underwhelming update this year.”
Read more in the full article here.
MacDailyNews Take: Betteridge’s law of headlines holds fast – with ease.
That’s not a knock of Cook. Put any name in there instead of Cook’s and the answer would be the same “Hell no!”