Apple’s problem? Its board and Wall Street
Seems a bit late to the “Fire Tim Cook and replace him with Elon Musk” mescaline trough, but here you go:
Take Apple (AAPL), whose stock shed a third of its value from its high of last summer to its early-May low. Given slowing iPhone sales and the absence of any new blockbuster product on the horizon, it was just a matter of time before calls for CEO Tim Cook’s resignation began to emerge. One proposal that has received favorable mention among at least some Apple investors calls for the company to acquire Tesla — the electric carmaker that strikes many as having captured the innovative spirit of the Apple of old — and appoint its superstar CEO Elon Musk to become the leader of the combined company.
As an investor I can totally see why people want Tim Cook fired. I mean, he saw the end to 51 consecutive (and the most profitable) quarters of AAPL growth. Everyone knows that kind of growth was sustainable under pretty much anyone other than Cook. Apple makes the lion share of profits in mobile (including laptops). They have an enviable P/E ratio and nearly unprecidented Free Cash Flow, (I don’t really know what those things mean), but Cook has got to go!
Replace him with a man who has promised more cars than he’s delivered so far and a questionable track record of landing rockets. Yeah, sounds like a winning move.