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Report: Apple looking for new CEO

Posted: , by Alan F.

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Report: Apple looking for new CEO
According to Wall Street sources, Apple is looking for a replacement for CEO Tim Cook. The executive has seen stockholders and mutual funds vote with their feet and the stock has dropped from a peak of $705 last September, to a current price of $390. And with a big earnings report scheduled for Tuesday, the numbers Apple reports could give us an idea of what the Board of Directors is thinking. Despite the drop in the stock, of the 37 analysts from major brokerage houses that follow Apple, none has downgraded the stock to a sell. Of those 37 analysts, 25 still list it as a strong buy while 6 more rate the stock a moderate buy. Another half dozen have a hold rating on Apple. This is how Wall Street works and shows you the problems inherent with fundamental analysis. By the time Wall Street does issue a sell on the stock, it will probably be a good time to buy it.

What analysts don't understand is that a stock price has nothing to do with earnings or growth. Take Scott Kessler, analyst at S&P IQ. Kessler is one of the pencil pushers still calling Apple a strong buy. "We expect Apple’s growth to exceed that of many of its peers," says Kessler, "we see the stock as a compelling value."  He sees good sales of both the Apple iPhone and Apple iPad through 2015 despite the economy and competition. The analyst also expects to see Apple shrink its cash hoard. Apple's current dividend could be raised or the money could be used to buy back shares.

But Kessler does expect revenue growth this year to fall sharply, from last year's 45% to 14% this year. The reduction in top line growth could be what the stock decline has been signaling. Kessler expects flat profits of $44.29 a share for 2013 vs. $44.15 last year. With big funds like Fidelity and Invesco selling stock, in this case you just might blame the Cook.

source: Forbes

78 Comments
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posted on 21 Apr 2013, 17:28 41

1. lyndon420 (Posts: 4559; Member since: 11 Jul 2012)


Bring back the Woz.

posted on 21 Apr 2013, 17:31 21

3. AnTuTu (Posts: 1580; Member since: 14 Oct 2012)


Bring back the Woz and save Apple.

posted on 21 Apr 2013, 17:53 4

6. MikeG77 (Posts: 410; Member since: 24 Nov 2008)


Good idea but thats not going to happen seeing as Sir Ive would seem like a probable choice. I knew this was going to happen as Tim Cook has always been a bean counter at Apple. Thats not to say that a guy like him can't be CEO but they generally don't take risks.

posted on 22 Apr 2013, 09:59 7

70. Aeires (unregistered)


Ive is a designer, not a business man. He said in an interview he was horrible at running a business but loved to design.

posted on 26 Apr 2013, 00:19

77. neurobiologist (banned) (Posts: 89; Member since: 07 Nov 2012)


He took design from brAun. So he is not a designer either.

posted on 21 Apr 2013, 18:46 15

16. InspectorGadget80 (unregistered)


now if they bring back WOZ i would change my mind bout APPLE.

posted on 21 Apr 2013, 19:59 8

33. HDShatter (Posts: 1021; Member since: 17 Jan 2013)


Woz would probably make ios a lot more like android.

posted on 21 Apr 2013, 21:08 11

55. fanboy1974 (Posts: 1345; Member since: 12 Nov 2011)


When he took that picture with all the folks at Google after buying the Nexus over a year ago that was the moment when I had respect for him. He actually cares about technology. Tom Cook is only CEO because Steve had no other option since he was dying. Tim has had no original ideas and he is riding off of Steve's coat tails. Tim is book smart while Steve and Woz had imagination and heart.

posted on 21 Apr 2013, 22:15 2

57. PapaSmurf (Posts: 10457; Member since: 14 May 2012)


This.

posted on 22 Apr 2013, 12:16 1

73. Droiddoes (unregistered)


Even I can get behind that.

posted on 21 Apr 2013, 20:35 5

45. WakaFlakaD (Posts: 489; Member since: 30 Apr 2011)


That is still not gonna change how people hate Apple products HAHA yeah hi lyndon420

posted on 21 Apr 2013, 20:39 7

47. TROLL (banned) (Posts: 4851; Member since: 13 Apr 2012)


No need of Woz™

No need for a company like Apple™

posted on 21 Apr 2013, 20:56 4

53. fanboy1974 (Posts: 1345; Member since: 12 Nov 2011)


I 100% agree. He is one of the the only Apple visionaries that can see the good in other products. Try asking any of the current Apple senior members to say something good about Android and I bet they would look at you like your crazy. They even brain washed many of their followers but it's starting to change. Even this website feels like it's HTC vs Samsung instead of iPhone vs Android. Apple has lost it and the only thing they can hold onto is their ecosystem.
A low priced iPhone? Did Apple forget how to make a high end device? When the retina display came out it was the best display on a phone. Today the iPhone can't match the Android heavyweights and a iPhone 5s with fingerprint scanner will not change that. Guess we will have to wait till next year.

posted on 21 Apr 2013, 23:49 4

61. TheRetroReplay (Posts: 254; Member since: 20 Mar 2012)


I'd love to see Woz take charge

posted on 22 Apr 2013, 03:07 3

64. poopApple (banned) (Posts: 38; Member since: 12 Apr 2013)


Woz FTW! throw cook out

posted on 22 Apr 2013, 05:02 3

67. Note2waitingonNote3 (banned) (Posts: 87; Member since: 19 Mar 2013)


Dump Apple.

posted on 22 Apr 2013, 17:00 1

75. jcarrigan (unregistered)


Id love to see the woz in charge of Apple now and really change how apple is run, but there are too many idiots out there that most likely wont let that happen. they'll get another moron who will sit there and sue every OEM out there and wont do anything innovative.

posted on 21 Apr 2013, 17:30 18

2. _Bone_ (Posts: 2155; Member since: 29 Oct 2012)


I'm available.

posted on 21 Apr 2013, 19:15 3

21. reten (Posts: 43; Member since: 03 Apr 2013)


I thought the same , since your the first to announce , you can Join

posted on 21 Apr 2013, 20:51

51. TROLL (banned) (Posts: 4851; Member since: 13 Apr 2012)


No you're not™

posted on 21 Apr 2013, 17:32 13

4. hackmanhtc1 (Posts: 12; Member since: 21 Apr 2013)


hire a samsung CEO!! XD

posted on 21 Apr 2013, 22:36 4

59. Droid_X_Doug (Posts: 5993; Member since: 22 Dec 2010)


Somehow, I suspect even an ex-CEO of Samsung wouldn't fare much better. Apple's board of directors has a bit of a history of eating its young. They threw Jobs out and then went through a succession of pretender CEOs. Finally after having driven the company to its knees, they bring Steve back to save themselves from themselves. Now Steve is gone and the pattern is repeating itself.

Maybe the Apple board of directors are the ones who should be fired?

posted on 21 Apr 2013, 17:41 16

5. PapaSmurf (Posts: 10457; Member since: 14 May 2012)


No one can and will run Apple the way Jobs did. He didn't have the greatest reputation in the mobile tech world, but he damn well knew how to run Apple.

posted on 21 Apr 2013, 18:34 16

13. SmartPhoneStream (Posts: 162; Member since: 21 Jun 2012)


As much as I dislike apple, I have to admit Steve Jobs was a marketing genius.

posted on 21 Apr 2013, 19:05 3

18. darkkjedii (Posts: 22047; Member since: 05 Feb 2011)


True...

posted on 21 Apr 2013, 19:25 3

24. quakan (Posts: 1381; Member since: 02 Mar 2011)


Well Tim Cook was responsible for Apple's supply chain for being as well as it is. So Tim may not be a better CEO than Steve was but there's a reason he was next line.

posted on 21 Apr 2013, 19:30 3

26. darkkjedii (Posts: 22047; Member since: 05 Feb 2011)


If he steps down as CEO or is forced to, he'll remain with the company. He was very good at his former position, which is why he was chosen as CEO in the first place

posted on 21 Apr 2013, 19:39 2

29. quakan (Posts: 1381; Member since: 02 Mar 2011)


Yeah I agree.

posted on 21 Apr 2013, 20:05 3

35. tbacba (Posts: 100; Member since: 31 Mar 2010)


I don't. I can't imagine any CEO bring booted from a company and sticking around in a lesser position. These guys never want to lose face.

posted on 22 Apr 2013, 10:01

71. Aeires (unregistered)


Don't know. He's the CEO but isn't even making the most money at Apple. As a supply chain guru, there's been plenty of supply chain problems since he took over as CEO. If he's forced to step down, I'd bet he'd be gone completely.

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