Yesterday, Apple CEO Tim Cook went on CNBC’s “Mad Money,” making a rare live appearance on TV to put his spin on the company’s future.
CNBC has now posted the video online so you can watch it. His interview with host Jim Cramer came a few days after Apple reported its worst quarter in years, stoking doubts about whether it could return to growth. Investors are clearly having their faith tested, driving the stock down from $132.54 per share on May 18, 2015 to a close of $93.64 yesterday.
That 30 percent drop in valuation is a blow to one of the most widely held stocks. Enough that Cook clearly decided he needed to address the company’s prospects just one week after he discussed it at length in an earnings call.
No big revelations. But Cook’s leadership will certainly continue to be tested this year, with investors pressing for short-term fixes, while he would no doubt prefer to remain focused on the long-term.
Here are the two segments: