Is that a problem? It is if you’re into one of two things regarding Apple. Reading the tea leaves or reading between the lines. Either way, our old friend Henry Blodget is worried about what Cook is saying and doing. Should we be worried, too?
He Said What?
Tim Cook may be Apple’s most accessible and public CEO since, like, well, forever. These days Cook is traveling the land, hobnobbing with political elite, and dropping hints to Henry Blodget.
Oh Henry is the editor and CEO of Business Insider, a digital rag which specializes in sensationalism and link bait headlines.
He was also charged with civil securities fraud by the U.S. Securities and Exchange Commission for saying one thing while he meant something else. Now he does it in print.
Here’s the latest: ‘Apple’s CEO Chose Some Potentially Worrisome Words Wednesday.’
OMG. Can that be true? Did Tim Cook reveal something bad about Apple? Did he tip his hat to danger that lies ahead.
Yes. Yes, indeed. Or, maybe not. What did Cook say at Apple’s shareholder meeting?
The first was Cook’s comment that Apple’s board and management “don’t like” the fact that Apple’s stock has crashed.
Apple rarely (if ever) comments on its stock price. So this remark was notable.
Except, of course, for all the times when co-founder Steve Jobs talked about the stock price (when AAPL topped Dell’s market value is one instance).
When asked about new product categories, Cook spilled the beans.
Obviously we’re looking at new categories — we don’t talk about them, but we’re looking at them.
How is that a big deal, Henry?
Cook’s refusal to talk about new product categories is not meaningful — Apple never reveals anything about new products. But Cook’s wording might be.
Oh, yes. The wording of Cooks words. That’s insightful, clueful, and full of it. More Henry:
Cook said Apple is “looking at” new product categories. And he said it twice.
Henry is obviously phoning it in on a very slow news day. Why? Because Cook didn’t use the phrase ‘looking at’ to NBC’s Brian Williams last December. Instead, Cook said:
When I go into my living room and turn on the TV, I feel like I have gone backwards in time by 20 to 30 years. It’s an area of intense interest. I can’t say more than that.
Aha! More beans spilled by Cook. Uh, wait. Apple’s last CEO and the current CEO have been saying pretty much the same thing about TV for years. How is this new or news? Henry has the answer:
Now, it would be a mistake to attach too much meaning to this. Cook may have been intentionally playing down an imminent new product release, or he may be so sick of answering the question that he just tossed off a dismissive answer.
But the wording stood out.
It did? Where? I missed it. Read it to me again, Uncle Henry. And this time tell me how you can manipulate a company’s stock price by reading tea leaves, looking at the stars in the heavens, and, well, you know, just making up stuff.
Apple’s stock dropped modestly after the shareholder meeting and now stands at $445 — about $10 above a new closing low. At that price, the stock is trading at only 10X trailing earnings, which suggests that the market thinks that Apple’s earnings will shrink going forward. So for those who think that Apple is not just “looking at” new product categories, but has fully baked exciting new product categories ready to be released, this level looks cheap.
Buy! Buy! Buy! Uncle Henry said Apple looks might cheap to those of us who believe that the company has fully baked and exciting new products in new categories ready to be released.
Gimmea a break. Cook’s so-called worrisome words are absolutely nothing except fodder for a stock manipulator doing what he does best– deceiving the public for profit. We could gain as much insight by watching what Tim Cook eats, and trying to determine how much impact what Cook wears has on the market or Apple’s product pipeline. Or, both.