Apple CEO Tim Cook sends note to employees following verdict
You've just completed your first year as CEO of the most valuable company the world has ever seen and a court just awarded you over $1 billion from your rival. Where are you going now? Disney World? Nope. If you're Apple CEO Tim Cook, you head to your PC Mac and tap out a letter to your employees.
While many might disagree with Cook, the Apple executive writes that Apple chose litigation "reluctantly" and as a last resort after asking Samsung to stop copying Apple. Repeating the theme of the company's post-verdict statement, Cook reiterated that the case wasn't about dollars or cents but was about values. Apple, according to its CEO, "makes the best products on earth" but for its customers, not for competitors to "flagrantly copy." You can check out the letter below.
It has been a year since Tim Cook took the reins of Apple after the death of Steve Jobs
After the verdict came down, Wall Street had a chance to weigh in on the decision. In after hours trading late Friday, Apple's shares closed at $674.95, up more than $11 or 1.8% from the 4pm close. Assuming that the shares open around there on Monday morning, it will be a new all-time high for Apple's equity.