Apple Will Prosper Because of The Cook Doctrine

What a difference a day makes. It was just yesterday that Apple’s stock was getting hammered again. Analysts and pundits were all over Apple and CEO Steve Jobs’ unexpected leave of absence like Mississippi flies on a slice of watermelon.

Then, in one day, Apple released record financial numbers in the middle of a down economy, and interim chief, Tim Cook, released The Cook Doctrine.

What a difference a day makes, right? AAPL is up nearly 10-percent, The Cook Doctrine is sweeping pundit halls everywhere, and little is mentioned of Steve Jobs except in past tense. 

What happened? A phone call.

No, God didn’t call Microsoft and tell them to lay off 5,000 worker drones. No, Steve Jobs didn’t announce a netbook or an iPhone nano from his deathbed.

Tim Cook spoke.

The phone call was Apple’s quarterly financial conference call. Expectedly, one of the first questions was about Steve Jobs, his health, and the impact on Apple due to his absence.

“The supposedly uncharismatic, unemotional, uninspiring chief operating officer of the company,” Tim Cook, delivered a deliberate, sobering, soul stirring missive which will become known as The Cook Doctrine.

Steve Jobs has never been so eloquent, and has never summed up the essence of Apple as did his stand in, Tim Cook:

In a list of “We believes…” the unflappable Cook demonstrated that Apple is more than Steve Jobs, but because of Steve Jobs, and that Apple will not only survive economic turmoil because of who and what it is, Apple will prosper.

For those worried about Apple’s future—the Mac, the iPod, the iPhone—examine the reality and worry not. Apple is sitting on nearly $30-billion in cash and has no debt. In an economic climate so bad most of us don’t remember worse, Apple’s products still sell well and profitably.

Look at the headlines this week. More layoffs, including industry titan Microsoft, who, though highly profitable, missed earnings and revenue targets while Apple, standing on many successful product legs, raked in record profits to burgeoning coffers.

The Cook Doctrine eloquently and forcefully outlined the heart and soul of Apple, Inc. For once, and for all, let’s end all the nonsense about Apple’s vulnerability and weakness sans Steve Jobs.

Apple will do just fine.