It wouldn’t be the first time Tim Cook appeared before the cameras to try to stop a slide.
From friend-of-the-blog David Thall:
This is without question a chicken and egg sell-off. The trading algorithms are running the show now. They tell the machines to sell when everybody is selling. So they keep selling.
What is needed here is leadership.
Why Tim Cook hasn’t shown up on CNBC yet—as he has in the past—is curious.
My best guess is, he is waiting to say something about the usual supply-side rumors because Apple is buying back their shares at a dramatically lower prices.
And maybe his advisors are saying wait—don’t try to catch a falling knife.
Or maybe he just doesn’t want to tell a lie. (He is not known for lying.) Because, maybe, iPhone sales are slow?
The thing is, they aren’t so slow that the stock should be destroyed.
My take: Some transparency from Apple would be welcome. I was surprised, searching the archives, how regularly Cook has taken to television with messages for the market. See, for example:
- May 4, 2016: Here’s what Tim Cook told Jim Cramer
- May 4, 2017: Apple’s Tim Cook dumbs it down for Mad Money (video)
- Sept. 18, 2018: Apple’s Tim Cook on Good Morning America (video)