Tim Cook: Don’t Bet Against Apple
Apple (NASDAQ:AAPL) has been trying to navigate trying times on the stock market this week and over the last three months as the bear fear takes hold of the world’s most valuable company’s shares. Apple’s stock price has fallen by more than 20 percent over the last three months, sparking some intense Wall Street scrutiny. However, a few loyally optimistic analysts have not left its side, and on Thursday night, chief executive Tim Cook issued an almost-warning to those doubting Apple’s capabilities in the long term.
“Don’t bet against us, Brian, don’t bet against us,” Cook told NBC Rock Center’s Brian Williams during their televised interview in response to a question about Apple’s attempts to “buck the trend” of a company’s usual cycle of life and death.
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Cook added that he believed Apple would remain relevant for years to come. When asked by Williams if it was possible for Apple to avoid becoming another Sony (NYSE:SNE), Cook said some companies in the past had decided that they could do everything, but Apple would try to stay away from such a notion about itself.
“We have to make sure at Apple that we stay true to focus — laser focus,” the chief executive said. “We can only do great things a few times, only on a few products.”
Cook also answered a question related to the company’s maps debacle. Apple released an in-house mapping app to replace Google’s (NASDAQ:GOOG) Maps in iOS devices, but was almost universally criticized by users and reviewers for its program’s many errors and lack of functionality. Cook released a signed letter of apology in reaction, and eventually let go of the executive who headed the maps team as well as the iOS chief who refused to sign the apology letter. “We screwed up,” Cook said about the maps app, “and we are putting the weight of the company behind it.”
Williams also asked Cook about the passing last year of Apple co-founder Steve Jobs, who is credited with the company’s incredible turnaround. “It was the saddest time of my life,” Cook said. “I always thought that he would bounce back, because he always did. It wasn’t until really close to the end that I intellectually realized that he wouldn’t bounce back this time.”
Cook said Jobs asked him to never ask the question: “What would Steve do?” and instead do what was right.
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