With every new product announcement Apple gets a new Monday morning quarterback, a CEO-wannabe with an ax to grind and a pedestal to perch upon. Who is the latest lying loudmouth to rise from the ashes to put a branding iron into Apple’s walking corpse?
Jim Cramer, CEO For A Day
Everybody in tech and business media seems to want a piece of Apple’s rich Corinthian leather hide, and Mad Money’s Jim Cramer is the latest of the lying, manipulating mouthpieces to sound off and sound crazy at the same time.
Wait. Jim Cramer? Isn’t he the TV loud guy who said, “Bear Stearns is fine” just before it folded into a financial carcass?
That’s the same Jim Cramer who told his viewers that Home Depot was not a recommended stock just before Hurricane Sandy devastated the East Coast.
The same Jim Cramer that says the stock market is built upon fiction built upon fiction and that a company’s fundamentals don’t matter because it’s all about lying, manipulation, and rumors.
Yes, that’s the same Jim Cramer who says Apple CEO Tim Cook needs to rein in expectations, and under promise and over deliver– instead of doing the reverse. Says Cramer:
It’s almost as if Cook never went to growth stock management school, or he somehow disdains it or that’s he’s above it. Cook acts as if it doesn’t matter, what he promises or delivers.
Was Cook managing Apple’s stock well when it hit $700? What was Cook doing differently when Apple’s stock dipped below $400?
The World According To Kramer
Here’s the deal. Cramer is criticizing Apple because the iPhone 5C has multiple colors and not a dirt level, marketshare grabbing low price tag. Cramer is blasting Cook because the iPhone 5S has a fingerprint identity sensor that no one wants. Cramer is upset because Apple hasn’t announced a deal with China Mobile (larger than AT&T, Verizon, Sprint, and T-Mobile combined).
According to Cramer, Apple is losing the PR game, Tim Cook is to blame for not managing expectations, and not reining in rumors. Maybe someone at CNBC should rein in Jim Cramer and ask a simple question.
“What is Apple doing differently now than it did under co-founder and former CEO Steve Jobs?”
Other than giving hard earned money to shareholders who don’t deserve it, of course.
The problem here is that expectations for Apple, especially since the iPod began to rule at the turn of the century, have always exceeded reality. Apple is accused by media critics of losing the company’s famed innovation mojo, yet each of the company’s historic and disruptive innovations (iPod, iTunes, iPhone, App Store, iPad) were met by howling denouncements by the very same critics.
Apple’s latest disruption is likely to be less public, but only Apple has brought biometric security to the masses and online commerce with Touch ID. That, combined with a 64-bit iOS and 64-bit CPU, makes Samsung look like a division of Xerox.
What CEO-for-a-Day Cramer wants is a place to promote himself and criticizing Apple is an easy and inexpensive way to do just that. Why this Jim Cramer isn’t indicted, convicted, and sentenced to jail for public fraud and assassination of fact is beyond me. Oh, well. Next Monday morning there’ll be a different Apple CEO-wannabe.