Report: Apple looking for new CEO

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

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53 Comments

2. _Bone_

Posts: 2155; Member since: Oct 29, 2012

I'm available.

21. reten

Posts: 43; Member since: Apr 03, 2013

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

51. TROLL

Posts: 4851; Member since: Apr 13, 2012

No you're not™

4. hackmanhtc1

Posts: 12; Member since: Apr 21, 2013

hire a samsung CEO!! XD

59. Droid_X_Doug

Posts: 5993; Member since: Dec 22, 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?

5. PapaSmurf

Posts: 10457; Member since: May 14, 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.

13. SmartPhoneStream

Posts: 162; Member since: Jun 21, 2012

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

18. darkkjedii

Posts: 31529; Member since: Feb 05, 2011

True...

24. quakan

Posts: 1419; Member since: Mar 02, 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.

26. darkkjedii

Posts: 31529; Member since: Feb 05, 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

29. quakan

Posts: 1419; Member since: Mar 02, 2011

Yeah I agree.

35. tbacba

Posts: 134; Member since: Mar 31, 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.

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.

49. TROLL

Posts: 4851; Member since: Apr 13, 2012

Makes no diffrent between Steve Job and Tim Cook, they have the same theory! Bringing the same phone and same booring with restrictead OS, over and over again™ There are no evolution nor revolution on there products or brand! Just a Apple logo stamped with low feautres with a high price midrange phone™ My foot©

62. blingblingthing

Posts: 979; Member since: Oct 23, 2012

Don't know why more people aren't agreeing. Apple is doing what it's been doing for so long, only this time the competition has caught on and is now well ahead. Stock holders know Apple will now have to compete by lowering prices and lowering their profit margins. Anyone in the know knows Apple will fall to android, no they won't die, they just will not as rich as they could be if android didn't exist.

7. Nathan_ingx

Posts: 4769; Member since: Mar 07, 2012

Some that can bring about overall change should be eligible. Why not let candidates render their own new concept of Apple devices?? :P

14. tedkord

Posts: 17453; Member since: Jun 17, 2009

First, we'll open everything up. Side loading will be allowed. We will go with industry standards, like micro usb and 720/1080p. We will build true multitasking and adaptive resolution into iOS. We will offer several different sizes of iPhone. Macs will become a side burner, as PCs are on the downside. Drop the iWatch, but concentrate on an iTV. When do I start?

15. s1ebee

Posts: 20; Member since: Apr 04, 2012

In the UK we already know that iTV is sh*t

30. tedkord

Posts: 17453; Member since: Jun 17, 2009

What about Sparrow and Nightingale?

8. KFear

Posts: 170; Member since: Feb 06, 2012

It will be interesting to see how new leadership will steer the company, and into what direction? An iwatch is NOT the solution. Someone needs to think of new ideas while keeping perfection simple. I think we will see a lot of failed products until they find something huge that all the apple crazed people will surely be allll over. I just can't even think about what direction they should go in besides expanding IOS into a more personalized experience.

9. Apartments

Posts: 17; Member since: Jun 21, 2012

He needs to be gone for being so stubborn. .it's 2013 and the icrap hasn't changed any same small screen. .no sd card slot. .no removal battery. .no mms..no blue tooth. .no nfc..thanks Samsung love my galaxy note ll

12. sectime unregistered

To be 14 again.... Have you discovered girls yet?

19. darkkjedii

Posts: 31529; Member since: Feb 05, 2011

No mms?

69. Bilpocalypse

Posts: 301; Member since: Oct 13, 2012

He also said no bluetooth.

32. p0rkguy

Posts: 685; Member since: Nov 23, 2010

Can't blame him until 5S/6. 4S/5 and possibly 5S are still under Job's designs.

66. roscuthiii

Posts: 2383; Member since: Jul 18, 2010

That's something most people overlook... Apple, and the rest of these companies too for that matter, don't just wait for opening day sales of a product to start designing the successor. It's all in the pipe well in advance. The current crop of products people are saying have gone stale were all fleshed out long ago.

10. mydi.maus unregistered

it will never be the same for apple,.spiraling down hope they find someone better..

11. jaymulli

Posts: 20; Member since: Apr 09, 2013

Tim Cook just isnt a leader he is great at business but when it comes to creativity and innovation it just isnt there i think its a good idea to bring in somebody that can be at the top and judge whether something will truly work like steve jobs did, and i wouldnt be surprised to see jony ive up for it, he has that little bit of steve jobs in him.

17. itreday

Posts: 68; Member since: May 24, 2012

In case you guys didn't know, the iPhone 5 was completely made by the late Steve Jobs, and so will be the next devices unless they scrap the ideas. Steve Jobs planned 5 years ahead before he died..

20. darkkjedii

Posts: 31529; Member since: Feb 05, 2011

That's true...he did

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