“Apple’s growing ecosystem of devices and services is ‘probably underappreciated’ by naysayers on Wall Street, CEO Tim Cook told CNBC in an interview Tuesday,” Elizabeth Gurdus reports for TheStreet.
“‘In terms of the naysayer, I’ve heard this over and over again,’ Cook said in an exclusive interview with Jim Cramer. ‘I’ve heard it in 2001, I’ve heard it in 2005, in ‘7, in ‘8, in ’10, in ’12 and ’13. You can probably find the same quotes from the same people over and over again,'” Gurdus reports. “‘I’m not defensive on it. This is America and you can say what you want,’ Cook continued. ‘But … my honest opinion is that there is a culture of innovation in Apple and that culture of innovation combined with these incredible, loyal customers, happy customers, this ecosystem, this virtuous ecosystem, is something that is probably underappreciated.'”
“Investors fretted that the weakness in China could lead to boycotts of Apple products, a claim Cook has disputed as anecdotal,” Gurdus reports. “‘I’m never surprised by the market, to be honest with you, because I think the market is quite emotional in the short term,’ Cook said when asked about Wall Street’s reaction to the news. ‘We sort of look through all of that. We think about the long term. And so when I look at the long-term health of the company, it has never been better. The product pipeline has never been better. The ecosystem has never been stronger. The services are on a tear.'”
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MacDailyNews Take: Talking sense to Mr. Market is like pissing into the wind.
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