Tim Cook: We Hate the Falling Stock, Too
Apple’s (NASDAQ:AAPL) falling share price has been alarming fact for its shareholders and has been put under many a magnifying glass over the last few months. On Wednesday, at the company’s annual meeting, chief executive Tim Cook gave the insider’s perspective on it. Cook said that while he understood why shareholders would be disappointed by the 36-percent drop since mid-September, a focus on the longer term may help ease concerns.
“I don’t like it either,” Cook said about the share price drop. “The board doesn’t like it. The management team doesn’t like it. But we’re focused on the longer term.”
He added that the company had seen an “incredible year of innovation” in 2012, while growing by “about $48 billion more” than Google (NASDAQ:GOOG), Microsoft (NASDAQ:MSFT), Dell (NASDAQ:DELL), Hewlett-Packard (NYSE:HPQ), BlackBerry (NASDAQ:BBRY), and Nokia (NYSE:NOK) combined…