Shares of Apple, on a long weekly losing streak, remained on track to suffer a sixth-straight weekly loss, ahead of the world’s most valuable company’s Worldwide Developers Conference (WWDC) next week.
That would be the longest such loss streak since the eight-week stretch through the week ended Nov. 23, 2018. The stock needs to gain 0.9% Friday, to at least $124.61, to snap the weekly loss streak.
The stock has lost 8.0% during the current streak through Thursday, and has lost 13.7% since the Jan. 26 record close of $143.16. In comparison, the Dow Jones Industrial Average has run up 11.8% since Jan. 26.
MacDailyNews Take: This too shall pass.
Tim Cook has incinerated billions and billions of shareholder value. This long slide into the gutter started with the news that Apple had a minuscule dividend payment increase. Apple, THE world’s most profitable company, could have had a serious increase in the dividend that would demonstrate to shareholders and the market in general that Apple was going to return these huge profits to the people who, you know, OWN THE COMPANY.
Instead, Tim Cook decided to incinerate the cash with worthless buy backs. Money that can be taken away from share holders unless they exit their positions.
The feckless Tim Cook has allowed Apple to do at best, mark time, while other tech companies get labeled as innovators.
Tim Cook, skating around, unaware that there is a puck out on the ice.
FIRE Tim Cook!
While it’s true, Apple hasn’t been highly innovative in some time, that doesn’t automatically grant any honorifics to other companies in that regard (they still wait for Apple to make a move and copy). The endless virtue signaling sure doesn’t help, either. Tim Cook is insufferable, and it’s very clear at this point that he formerly had very little to do with product development. I’m beginning to think he wasn’t anything but mediocre in his former position at Apple, either, but Jobs’ outsized-ness and creativity made up for it.
I have been on record for many years Tim Cook needs to be reassigned or move on. Burning cash for stock buybacks only placates the fat cats and indeed burns money. If I remember, Steve did not believe in buybacks…
Gotta disagree with that. I hate some of the things Apple do – I think they’re greedy a$$holes. But they do some incredibly great stuff too. Have you not heard of Apple Silicon, the M1 chip?! Haven’t you read technical details about how it’s so fast and power-efficient? It’s an absolute game-changer! Apple are definitely still innovators in some areas.
The past 5 years Apple has a 400% + return, I’m ecstatic with that lift regardless of the constant negativity regarding Tim – plus NO one will ever replace SJ, typical world we now live in – sell your stock it you are that unhappy, it’s that simple or conversely complain about everything vs. looking in the mirror to improve that individual – just saying.
And the return over the past year has been about 30%, AAPL is trailing the market as a whole, not acceptable during one of the biggest growth booms in history.
That’s really funny. 🙂
Since Jobs died, Apple lost the ‘excitement’ factor regarding it’s products.
Amen and well said. I have certainly noticed the lack of magic and wonder since Cook took the helm.
Scott Forstall, where are you?…
Producing musicals on Broadway, mostly, since he got fired for messing up the rollout of iOS 6. Forstall was just a software guy and never worked on the hardware side of Apple, so any “magic and wonder” in the devices themselves was somebody else’s work. Jobs knew what he was doing when he hand-selected his successor.
Tim Cook Steve’s biggest MISTAKE.
Nuff said…
This is all about INFLATION & CHINA..simple..get out before either one of those pop.
This losing streak doesn’t matter to me. It’s basically just a blip in a year’s time frame. I’m glad the share price is staying low in order for Apple’s buyback plan to be most effective. It’s Apple’s decision to throw away money on stock buybacks and I have no say in that strategy. Apple is basically serving the institutional investors and Apple executives which matter more than smaller retail investors of Apple. My belief is that Apple’s stock will rise towards the end of the year and easily surpass the past high of $145. As I’ve held Apple stock since 2004 and made quite a bit of money, I’m not going to constantly whine about Apple stock not rising fast enough or whatever. I have my Apple dividends to tide me over. As near as I can tell, most of the tech stocks haven’t been doing all that well YTD and Apple is no exception.
As far as innovation is concerned, I think Apple Silicon is a terrific move. It will surely help sell more Apple laptops and desktops. Even if Tim Cook leaves Apple, there is no guarantee the next CEO will do any better. I’m not sure why some people always think a new CEO will be an improvement over the last. The next CEO could easily do worse. I think Tim Cook has done quite well if making Apple more valuable is the criteria. Apple’s financial value has met all my expectations and more over the last ten years. I have no regrets owning Apple stock. I wish the dividend was higher but I can easily live comfortably with the current dividend.
Buy buy Apple stock…
I just keep buying regardless of what happens.
Apple stock is up over $2 for the week. So much for that.
Apple is doing great. Apple is spending a record of over $19B on R&D and continues to innovate. Over the years they’ve led the way on 64-bit for iOS, AirPods, AirPods Pro, gorilla glass improvements each year, better batteries for portables, Apple Watch leading the market and improving every year, Apple Silicon for Macs and now iPads. Apple Pencil, Mini LEDs for iPads display. I’m sure I’m leaving out lots.
Tim Cook is managing the company, not developing products. He is doing a great job. He gets reelected each year by the shareholders by over 99%. These are the people with actual skin in the game.