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Apple CEO Tim Cook targeted in 'whisper campaign' attack

Ashleigh Allsopp | April 24, 2013
Several reports have suggested that Cook should be fired to increase Apple's share price

In 2008, when Apple's stock fell from almost $200 per share to $117, Steve Jobs even told CNBC's Jim Goldman: "I think we've done pretty well for our stockholders over the past decade, and I would just encourage them to trust us. Maybe we know what we're doing."

"You know, Wall Street: I've never been able to figure out Wall Street," Jobs continued. "But someone once told me manage the top line, which is, your strategy, your talented people and your execution, and the bottom line will take care of itself. And I've always found that to be the case. So we're turning in record quarter after record quarter, and Wall Street eventually comes out in the right place."

In January, Apple proved naysayers wrong by announcing its best ever financial results, and yetanother record breaker, despite the fiscal first quarter of 2013 being one week less than the 14-week fiscal first quarter of 2012.

Senior portfolio manager at AlphaOne Capital Markets told CNBC: "He [Cook] took over as CEO when the stock was in the $300 range, the stock is still higher than when he took over. You have to put this in perspective, Apple didn't run the stock up to $700, stupid investors put the stock up at $700. You can't really blame the CEO for that, they are still making more money than they were."

Topeka Capital Markets analyst Brian White has said: "Apple doesn't usually focus on the stock, because they believe if they focus on building great products the stock will take care of itself."

During Apple's annual shareholder meeting in February, Cook admitted that he doesn't like Apple's falling share price, but revealed that Apple is working on new product categories.

Apple co-founder Steve Wozniak is confident that the company will launch new products soon that will "surprise and shock us all," and will help boost the company's "disappointing" share price.

 

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