It’s been exactly 10 years since Steve Jobs resigned as Apple’s CEO. And Apple stock definitely lost much of its wow factor in the S&P 500, Matt Krantz writes for Investor’s Business Daily.
Matt Krantz for Investor’s Business Daily:
Shares of the technology giant are up 1,022% since Tim Cook replaced Jobs as the Apple CEO on Aug. 24, 2010. Yes, that tops the S&P 500’s 286% rise in that time. But it ranks Apple stock just 45th for stock gains in that time in the S&P 500. That gain barely puts Apple in the top 10% among the 459 current S&P 500 members trading since then, says an Investor’s Business Daily analysis of data from S&P Global Market Intelligence and MarketSmith.
Apple stock simply is not the exceptional S&P 500 stock it used to be.
Apple stock soared 6,712% in the roughly 14 years following Jobs’ return to Apple in Sept. 1997 until he resigned for health reasons. That made Apple the S&P 500’s No. 2 top stock following only Monster Beverage (MNST), which shot up 39,344% in that time riding the energy drink craze.
And Apple stock’s remarkable 15,839% run from 1982 up until Jobs’ tenure ended in 2011 is one of Wall Street legend. It ranks third among the S&P 500 in that time… Apple’s not even the top-performing S&P 500 technology stock anymore with Cook at the helm [it’s Nvidia].
Apple stock is getting lapped by many of its top rival’s stocks. Shares of Amazon.com (AMZN) are up 1,587% since Cook took over ranking it No. 20 in the S&P 500 in that time. And even historical arch rival Microsoft (MSFT) is topping a post-Jobs Apple stock. Despite Apple’s relentless advertising painting Microsoft as hopelessly outmoded, Microsoft stock is up 1,132%, topping Apple.
MacDailyNews Take: You cannot replace Steve Jobs. Period.
Elevating Mr. Lukewarm Wallpaper Paste to CEO, will necessarily dim Apple’s “wow factor.” Jobs likely expected as much.
Let’s face it: Elon Musk should hire Tim Cook to do PR for The Boring Company.
Now in defense of AAPL stock, Apple is the a top payer of S&P 500 dividends in terms of sheer dollars, as Krantz reminds. Apple is paying out $12.3 billion annually in dividends, secondly only to Exxon Mobil at $12.4 billion a year.
It has even less wow without privacy and security. Thanks Timmy!
Tim Cook is off-putting in as many ways as someone can be off-putting. In fact, he’s repulsive. The wrong person got pancreatic cancer.
The cancer comment is really unnecessary and tasteless.
Beyond that, I wish Cook would consider that using his CEO position to proselytize could be summed up as a diverted focus…realistically compromising stock growth. One would be foolish to NOT be pleased with the gains, but it’s a real question about what “could have been.”
His shunning AAPL stock holders years ago, “go find another stock,” in response to blowback per his use of the company’s power/visibility for his personal leanings (Social Justice Warrior-ism), fills in the rest of the story per the article above. An excellent CEO would never shun law-abiding customers, nor hijack a company’s power/visibility to support their personal ideals.
Cook’s China Story is still distilling, but there are too many concerning decisions through the years that could be material per the stock gain. Of course, China has been very important in Apple’s growth, but when a business/a man arrogantly claims SJWarrior status and continues to do business with a govt that “experiments” on one of its ethnicities, something is really sideways…in his head AT LEAST.
No he was exactly right to tell that person to get out of the stock. That stock holder was the most arrogant and self centred fool I’ve ever encountered at a stock investors meeting. They told Tim to only spend capital on things that have a ‘Return on investment’. A large company has a responsibility to do more than just focus on ROI.
Apple rightfully:
Has focused on making products in a sustainable way. Otherwise we won’t have a planet left to enjoy the products
Has focused on workers rights in supply chains or we won’t have anyone to make the products
Has focused on supporting the rights of immigrants or we won’t have the talent and minds needed to invent the products
Has donated to aid and relief funds following global disasters
Has moved all of its facilities to renewable energy
And that’s just to name a few things on a very long list. Saying ‘but there is one more thing’ is great and all. But it’s about 0.1% of the actual day to day running of the company. People that focus on ‘the good old days’ and attribute success in the 10 years since Jobs has passed just to him are deluded at best, ignorant at worst.
Hundreds of thousands of people are involved in the development, engineering and yes invention of these products. Steve or Tim for that matter we’re/are involved only at the very broadest level. They might make decisions yes, but they make those decisions based on a variety of options presented to them by incredibly talented and capable minds.
Oh and the person that left the cancer comment you should be ashamed of yourself. And anybody enabling them in this comment section isn’t a true Apple fan. You’re a disgrace. You should get out of this community. Thanks. Next.
(I’d also add that the commentary from the writer of the article to describe Tim using less than complimentary language is so unprofessional. Expected more.)
Start your own blog, hot air bag
Shem Beckler: That is an excellent summation. You’ve nailed it.
This is BS.
Apple’s products and services are better now than ever. Anyone who suggests otherwise is looking at the past through Steve Jobs’ reality distortion field.
The new Macs are a great example. They are in a class by themselves, at a completely different level compared to Wintel. The same is true for iPhone, iPad, Apple Watch. AirPods, and the software/services that integrate them. I use Apple One Premier. Apple’s services bundle is utterly unmatched by anyone else. It’s not even close.
That said, Steve Jobs brought two huge things to the table:
1) Jobs was a once-in-generation communicator who created a cult of personality. Jobs salesmanship created a great deal of excitement around Apple which was not totally related to Apple’s actual level of innovation. This was lightning-in-a-bottle that cannot be recreated by just anyone.
2) Jobs was the ultimate advocate for the Apple user. Jobs focus on being the proxy for the customer helped Apple to do better with version 1.0 products and services.
However, when Jobs was running Apple, the company was smaller with far fewer products and services. It was easier to move the needle. Compared to what Apple is doing now, it was super easy to come out with a new iPod and big new OS X features every year. IPod was a trivial product compared to the iPhone and OS X was still in its early years, with a relatively sparse set of features that needed to be fleshed out. When iOS came out, it was a repeat of the same scenario.
Today, Apple’s OSes, product lineups, and services are all fully baked and totally integrated. Keeping them all in sync while innovating is a hugely complex undertaking, and only something today’s Apple can manage. Steve Job’s Apple could not have done what Apple is doing today a not enough operational discipline.
These days, Apple may not nail its version 1.0 offerings quite so well, but Apple’s unrelenting commitment to the strategic vision and to refinement means that still get things right even if it takes a few iterations. Apple Watch, Apple Music, Apple TV+, and AirPods are perfect examples. A bit slow out of the gate, but all now best-in-class
Agreed.. but with the exception of A GIANT BLUNDER heading towards us. Mass Surveillance imbedded in the heart of Apples platform! …Which if they go through with will totaly demolish Apples/Tims credibility and integrity!
It will prove them to be shameless liars, manipulative hypocrites who have zero respect for their customers!
Depending on how this unfolds… i may completely abandon the platform…
Im actually shocked market has not reacted to this!??
PS…. re the Article… its a very inaccurate representation of the reality with cherry picked periods.. inconsistent and bogus comparisons… Designed to mock Tim..its total Garbage.
It omits period that people lost their shirts .. of which there quite a few.. and yes under Jobs tenure after he returned.
Under Tims watch.. Apple has had its most dramat gains..1200% !
See for yourself.. check out Apples chart since 1980..
A picture is worth a billion BS words( ie this Article)
“company was smaller with far fewer products and services. It was easier to move the needle.”
You can’t be serious. The overwhelming majority of Apple products developed under Jobs plan working a minimum of 5-10 years out. Well before their time of release in the house Jobs founded and BUILT including the creative vision for the Apple Spaceship headquarters.
Besides moving jobs out of the USA to Communist China cheap labor to maximize profits, don’t see Cook creative accomplishments beyond a caretaker CEO with all his manufacturing eggs in one basket and a total course reversal in device security and spying on users. Not Steve Jobs cultish musings, FACT.
“keeping them all in sync while innovating is a hugely complex undertaking, and only something today’s Apple can manage.”
I laughed out loud at such a ridiculous falsehood from a BLIND member of the Cult of Tim Cook. 🤣
Nothing could be further from the truth. Not only would Jobs introduce multiple REFINED creative products at a faster rate, he would listen and service customers needs often missing from tone deaf Cook. Also course correction getting Apple out of woke politics and Big Tech flavor of the day conservative censorship. Focus the energy to MORE insanely great Apple magic not exactly felt in 10 years…
Jobs referred to customers as BOZOS!
That included u and me!
..
Wake up !
Not an ABSOLUTE. So, I am a bozo at certain times and so are you… 🤡😜🙃
No one is saying Cook is a loser. Please refer to the title of the article.
Also, everything that’s currently offered, except TV shows was created under Job’s tenure. Let’s add to the list, the World-wide lucrative system of Apple Stores.
Yes, the products have improved…like technology does.
Steve Jobs died 10 years ago. At some point, all of those who have bro-crushes on Steve Jobs need to start giving current Apple Management credit for the company’s ongoing success…
Look carefully Tim is caretaker CEO…..he great at it but he is a caretaker…
Yes, the Apple fanboys and apologists don’t understand over 90% of Apple’s product success is directly attributed to Steve Jobs.
The iPhone company was handed down to current management and we see only yearly incremental changes to cameras and chips. Any caretaker CEO like Cook in the Fortune 500 CEO can ride first class on the gravy train.
The exception of M1 chip integration in software and hardware, nothing else stands out and has been DONE BEFORE…
They’re missing a visionary. Tim is great at supply chain, but doesn’t possess the magical ‘follow me’ persona that Steve had. Momentum built by Steve’s efforts is what Tim has been using for the past 10 years. The engineers are the ones creating the tools and toys. What we need is someone to believe in again.
Yes, my thoughts exactly and well said!
We need the creative vision back that made us glow and look forward to MacWorld every year.
If Steve was still at the helm the me too products like home speaker, Apple TV services, music, Apple maps, etc. would have come out of the gate sooner and DOMINATED immediately same as the iPhone. No signs of an Apple car, AR Goggles, smart glasses only vapor talk, but we shall see.
The Apple Store experience has greatly declined to a stark diversity fashion show, once greatly stocked with third party software and hardware products pick up everything you need after a purchase. The defunct and greatest strength of stores Genius Bar is history.
The unforgivable sins of allowing flagship MacPro to languish for over six years. Soldering boards, removing ports and expansion options accomplished ZERO good for customers. All directed by Tim to fatten the bottom line. Two visual sins that plague our eyes to this day. The iOS7 stark minimalist often abstract confusion replaced exciting friendly eye candy a collaborative effort between Jobs and Forstall. Also a personal favorite the loss of the beautiful cover flow feature featuring the greatest album cover art of all time.
Now, certainly Cook’s numbers from profits, stock growth, dividends, etc. are very impressive. But no one can tell me they would NOT be higher if Jobs still ran the show.
Cook is deadly dull and as exciting as ditchwater, milquetoast and the bland forced excitement on stage is painful to watch and listen.
Bottom Line: Cook needs to go for Apple to regain the lost creative magical spirit…
Like I said, some Apple fans aren’t actually fans of Apple, they are members of ‘The Cult of Jobs’.
For these people, since Steve Jobs’ death, Apple has not and will never again do anything great, regardless of mountains of evidence to the contrary.
Not really seeing the mountains of evidence, just incremental updates to existing products and playing catch-up in other emerging areas. Of course that’s not to say Steve would have been ahead of all these curves either.
Meanwhile, Tesla is doing multiple exciting things at once and is shaping as the next Apple. The difference? A visionary CEO.
Tesla makes no real profit, 40% of last quarter profit is government welfare and the other comes from cooking the books. They are not even in the same league as Apple.
The “mountains of evidence” creative challenged Apple execs deserve is fat and happy incremental changes resting on their wealthy and safe laurels.
I belong to the Cult of Apple since the first Apple computers in the 80s and not a blind fanboy who can’t honestly and accurately assess what Apple has become…
AAPL is a hugely successful company. Was Jobs a visionary? Yes. Is Cook someone who can run the largest multi-national by market cap? Yes.
Different skill sets. Both men are flawed yet both have logged extraordinary successes.
Or you can always pine for the days when a sugar water salesman was at the helm.😎
I love Apple’s products but I’m still waiting for that “wow” moment that creates a whole new category that we never thought we needed.
If wow factors were commonplace they would fail to be Wow!
… people expect too much…
And ignore a lot !
The last “wow factor” was the introduction of the iPhone 15 years ago.
Apple Watch, developed under Jobs, was a shoulder shrug meh for many and as far as I know an iPhone can accomplish much of the same tasks without an additional purchase and needy hardware you have to charge daily.
M1 chip is extremely impressive, but as of now not fully implemented and software optimization lagging behind. This will pass.
Under the bland milquetoast Cook, he is too busing monitoring finance spreadsheets and I could be wrong, but don’t expect any “wow factor” in the foreseeable future…
Most new Apple products are treated with contempt by WS and the geek world upon release. Just means more shares for me, long Apple and prosperous (like taking candy away from a baby). Seeking Alpha is filled with Apple is doomed 1001 oh well.
The M series cpu is as big the 2007 iPhone intro…..
Thr 2007 iPhone announcement event sure was fun, but products like that only come out every once in a while when the time is ripe for disruption.
In the meantime, I’ll enjoy using the dozens of fantastic, best-in-class Apple hardwsre and services products that are on sale today.
There was a time when Steve Jobs was Apple, and Apple was Steve Jobs. A bygone era.
It won’t be quite fair to compare Jobs and Cook. Jobs was a technologist, so to speak, and NeXT, Pixer, Disney and all that, while Mr.Cook is obviously a non-event, typically boring CEO although he constantly sought for spotlight as an SJW.
I was one of those who lived through “I am Mac, you are windows” era, starting from command based DOS PC but suddenly found Mac Plus (remember that?). Since then, I have been a monogamist, devoted to everything Apple. Those days, I was feeling I was different, a maverick, who used Apple products in the sea of Windows, and I was proud of it.
Today, Steve’s magic, mojo and ethos were all lost and reduced merely to pesos.
What was driving Jobs through his days, IMO, was he was constantly thinking about how to please users. When he achieved it, he did not hide his pleasure and pride. Cook OTOH is all about milking and exploiting those of us tightly confined in a forbidden garden, although I am now finding a few ways out.
Steve jobs was a smart showman too. His keynote speech was always entertaining. Often concluded with a phrase like “by the way, price stays the same” etc, which was greeted by roaring applause. Those days are gone….
Citing what Jobs uttered which typically represents what Apple was about:
A lot of times, people don’t know what they want until you show it to them. – Steve Jobs
This (not necessarily money or CCP alone) was what was driving him.
Another couple of his quotes here….
We built [the Mac] for ourselves. We were the group of people who were going to judge whether it was great or not. We weren’t going to go out and do market research. – Steve Jobs
Every once in a while a revolutionary product comes along that changes everything. – Steve Jobs at the unveiling of iPhone
But now, a flash of genius was lost and gone.
Apple now became predominantly a phone company, drawing most of its revenue from little phone, although great it is, it will never last long.
People, here’s “Think Different commercial in his own words”
http://viewpure.com/mtftHaK9tYY?start=0&end=0
“One more thing…”
It won’t be too good to rely too heavily on one genius. It was fine then when Apple was forming itself.
Today, there seem to be a lot of “chatters” from every corner.
Apple spaceship is trembling. If there might be any “mutiny” against today’s Apple, I have a feeling that it will come from within.
Here’s reality… though many (most?) won’t like it.
Jobs had two talents and only two talents that set him apart from the field. He had those talents in greater amounts than most. For one of them he had that talent greater than probably anyone over the past century or more.
He had a great talent in driving people (often almost to the point of quitting) and getting the best out of them. Very often he could get people to do things even they themselves didn’t think they could do. Yes, Steve Jobs pissed employees off. Yes, often on a daily basis. Yet, in the end analysis they created fantastic things. Those people moved the world forward even if they didn’t know they could.
Steve Jobs even greater talent is being able to recognize the future and push for its implementation (Lisa, NeXT, iMac [though that “hockey puck mouse was a major mistake], iPod, iPhone, iPad, the list goes on and on — he even could see the future in laser printers, optical drives, dumb printers with the smarts in the computer, a user’s presence on any computer on the network). Steve Jobs did not come up with any of these things. Anyone who tells you he did is lying to you. In each case people brought ideas to Steve Jobs and he was able to tell (intuit?) whether that item or technology was the future or not. Steve Jobs said “No.” to more technologies than for which he said “Yes.”
Sometimes he was too far ahead. Think of the Lisa. Think of the NeXT computer (and its printer and its optical drive). He sometimes pushed things that he was shown that did not become industry standards for well over a decade after his initial push. One might say that was the primary cause of the downfall of the NeXT systems. They relied on technologies that were way ahead of their time.
Steve was very much in favor people bringing him new ideas. He had that once in a century (maybe longer) capability to “see” if that new thing would be the future.
There may not be another with that talent for another 100 years or more. The “Steve Jobs Fan Club” needs to realize this. Expecting others within Apple to have that talent is a complete waste of energy. Period.
“There may not be another with that talent for another 100 years or more.”
Certainly that’s an opinion, but we don’t have to wait. Scott Forstall was Steve’s right hand man and heir apparent to Job’s throne according to Time magazine. Younger than Cook by nine years I believe with a $750 million compensation granted to Cook this week he could take over in a heartbeat.
The phony exodus from the company because of Maps was a cover story to get a lenderary designer and product person out.
He threatened Cook and Ive and rightly so. If he was at the helm, with Cook in his old role under Jobs one can only imagine the greater creative heights today…
The thing is that Steve Jobs got things right and also got things wrong as well.
A few examples come to mind:
Ping was a half baked idea and that hockey puck mouse, GRRR. I swear this on grave of my dearly departed dog Scooter that I threw that mouse through out the window in rage and thankfully the window was open when I lost it.
The iPod revolutionised how we listened to music and paved the way for the iPhone. This was, IMHO the hardware that put Apple back on the map.
Steve Jobs wasn’t perfect and neither is Tim Cook. The difference is that when Jobs was alive I just wanted a piece of Apple’s hardware over and over again. With Tim Cook the magic has gone and for me it’s just another company. Sure it’s insanely profitable and that’s great for investors but what about Apple users? I just feel like a milk cow except Apple doesn’t wow me anymore. Apple under Jobs was insanely cool. Is Apple like that nowadays, I don’t think so. Maybe it’s because they don’t “think different” anymore.
Or maybe be history compresses the depth if view..
In hindsight things look closer than they actually were…
Grass is always greener from a distant perspective..( not only an old adage.. but literally a geometric truth)
… 1982- 2011-29 years!
2011 to know 10 years!
And a lot A lot has been accomplished … and are on the horizon!!!!!
( minus the massive BLUNDER of imbedding a mass surveillance code in the heart of their platform)
What are they smoking there?
No way…
As much as i am engaged in the platform..
I will leave…
I know many others will too..
Tim/Apple are taking their customers for granted..
And feel we are on the hook.. and that they can do whatever they want!
Nope.. not for me… they can go F- themselves..
Im sure the competition is planning on having a toga partiies over this blunder..( if they go through with it…. I pray not!!!!🙏🙏🙏)
Its beyond belief … Fing Liars!
This we can agree on. TOTAL CUSTOMER BETRAYAL. Apple has become another Tech Big Brother!!!…
Apple lost everything without him. His death was the end of an era. Apple is just another company now, worth no more thought or consideration than the next time you pop open a Coke. Oh, my iPhone. Whatever. it’s a pretty big slap in the face for those of us that have been around since the Power Computing era. Millennial engineers don’t help. Yeah the bottom line is ok. That’s part of the problem.
So are you going to sell up and run? long Apple…