CEO Apple Tim Cook interview on “MadMoney” last week addressed some negative sentiments around his company while speaking in an interview with CNBC’s Jim Cramer. According to him, Apples growing ecosystem 0f services and devices is “probably underappreciated” by naysayers on Wall Street.
According to CNBC, Apples stock is the most “unloved” since 2005. Responding to this Apple CEO said: “In terms of the naysayer, I’ve heard this over and over again. I’ve heard it in 2001; I’ve heard it in 2005, in ‘7, in ‘8, in ’10, in ’12 and ’13. You can probably find the same quotes from the same people over and over again.
“I’m not defensive on it. This is America, and you can say what you want. But my honest opinion is that there is a culture of innovation in Apple and that culture of innovation combined with these incredible, loyal customers, happy customers, this ecosystem, this virtuous ecosystem, is something that is probably underappreciated.” Apple Tim Cook interview on “MadMoney”
Cook came to the defence of his Company just a few days after Apple had warned investors off that its fiscal first-quarter revenue will be weaker than what was previously expected.
Apple announcement that its new sales revenue is now $84 billion well below the range of $84 billion to $94 billion that was initially forecasted in November has sent the company shares down nearly 10 percent.
However, Cook said he was never surprised by the market reaction, which he described as been quite emotional.
“The market reaction is quite emotional in the short term. However, we think about the long-term. And so when I look at the long-term health of the company, it has never been better. The product pipeline has never been better. The ecosystem has never been stronger. The services are on a tear.”
In his letter to investors, Apple CEO said much of the shortfalls experienced by Apple were caused by China where the company underestimated a decelerating economy due to the decline in sales of iPhones, Macs and iPads.
Cook also added that the tension between China and the United States had created a sharp downturn, which is a temporary situation that will be put to an end soon.
“It’s in both countries’ best interests to come to an agreement. I’m very optimistic that this will happen.” He said.
Finally, to get more information about Apples CEO interview with CNBC, it is vital to have an Apple device that can keep you informed of all the latest updates in Apple World. Now you know Apple Tim Cook interview on “MadMoney“.
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