Cook also countered Einhorn’s accusation that Apple has a
“Depression-era mentality” and rattled off all the things Apple has done
to return shareholder value.
Read what Cook says about the Einhorn “sideshow,” Apple’s margins and products.
There was even chatter that Apple might hike its dividend. Immediately
after the meeting, Piper Jaffray analysts told clients they expected
Apple to slightly increase its dividend, after hearing Cook’s comments.
Read about Wall Street’s prognosis for Apple’s dividend hike.
This wasn’t Cook’s first time at the Goldman Sachs conference. This
year, however, his appearance came after the company’s shares have
tumbled from a high of $700 last year, as worries about whether its
hyper-growth era is over persist, and as competitors get closer to its
heels, and in some cases, like Samsung, are surpassing Apple in the
smartphone market.
For one thing, investors might be comparing Cook, who is much more
engaged with the investment community, to co-founder and former CEO
Steve Jobs. Jobs was known for not talking much to Wall Street — he only
spoke on company earnings conference calls a handful of times.
So why when Cook talks about possibly returning more cash to
shareholders and giving them a say in whether or not Apple issues a new
class of stock, do its shares fall?
Perhaps, in the most cynical view, they feel that Cook is trying too
hard to win their approval at a moment when its valuation has plummeted
and no one knows what will be its next big thing. Maybe shareholders
would be happier with a CEO who just isn’t that into them.
Contact Us:
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News Source: www.marketwatch.com
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