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Dated, disputed rumor of Tim Cook joining HP affects Apple stock

post #1 of 44
Thread Starter 
A two-week-old rumor that Apple Chief Operating Officer Tim Cook could leave for rival HP caused concern among shareholders on Wall Street Tuesday.

Shares of AAPL dropped nearly 6 percent to start Tuesday, as a rumor that Cook would leave to become the new chief executive of HP gained traction. But as noted by Fortune, the rumor is not new at all -- it's two weeks old.

By Tuesday afternoon, shares of AAPL slightly recovered, but not entirely. HP was up nearly 1 percent.

Numerous sites reported the Cook-to-HP rumor on Tuesday, but Apple's public relations department declined to comment on the matter. However, Cook reportedly had coffee Tuesday morning with Brian Marshall of Gleacher & Co., and used the opportunity to dispel the rumor.

"Tim Cook will not be going to HP," Marshall told Barron's. "He loves Apple."

Cook was instrumental in Apple's success when CEO Steve Jobs took a leave of absence for health reasons in 2009 .Cook assumed the role of interim Apple CEO from January to June of 2009 so that Jobs could recover from liver transplant surgery.

Cook's tenure had him oversee the successful launches of several key products, most notably the iPhone 3GS. For his work, Cook was rewarded by Apple this year with a $22 million bonus.

Reports of Cook leaving are nothing new, as, in 2009, it was reported that Dell and Motorola tried to hire him away from Apple.

It's widely expressed amongst Apple circles that Cook has long been groomed to succeed Jobs in leading the company should the co-founder ever have to step down.
post #2 of 44
If Cook leaves for HP, Apple will counter by swiping Bradley away from HP to replace Cook.
post #3 of 44
if the movie wall street is in any way reflective of the truth, it wouldn't surprise me if apple's competitors started this.
post #4 of 44
Quote:
Originally Posted by mac_dog View Post

if the movie wall street is in any way reflective of the truth, it wouldn't surprise me if apple's competitors started this.

It's perfectly reasonable for HP to at least try for Cook. Why wouldn't they? I doubt the rumor was malicious, when you've got a major corporation in the midst of a very public headhunting campaign.
post #5 of 44
BOBBEMYSEH BOYCHICK
post #6 of 44
AAPL is one the most heavily manipulated stocks. I thought this kind of thing only happened before major announcements. As in "buy on the rumor, sell on the news"...

But that's OK. Anyone with a short position on AAPL is in trouble.

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post #7 of 44
In other news, Steve Jobs is quitting Apple to run HP, citing "low pay" and a "creatively stifling atmosphere" as the main reasons for leaving.


@SockRolid,
Quote:
AAPL is one the most heavily manipulated stocks

Yeah it is. If you haven't seen or don't remember...
Stewart slams Cramer with Apple video
post #8 of 44
Quote:
Originally Posted by AppleInsider View Post

A two-week-old rumor that Apple Chief Operating Officer Tim Cook could leave for rival HP caused concern among shareholders on Wall Street Tuesday.

this stuff cracks me up. how do you know that the rumour is the cause of the drop? appl has been trading at all-time highs. maybe it's some profit takers? or maybe the announcement of the rim tablet? or maybe the high temperatures in the area? did you analyze the day's trade data? how do you know what you know?
post #9 of 44
I'd focus my attention on the buys that occurred on that downward spike, especially anyone who sold immediately before it happened.
post #10 of 44
Cook! We <3 you!
post #11 of 44
Quote:
Originally Posted by mac_dog View Post

if the movie wall street is in any way reflective of the truth, it wouldn't surprise me if apple's competitors started this.

IMO more likely a stock broker started it. Nothing worse for them to have a stock too steady in one direction.
Brokers are just selfish buggars.
post #12 of 44
Quote:
Originally Posted by Chris_CA View Post

In other news, Steve Jobs is quitting Apple to run HP, citing "low pay" and a "creatively stifling atmosphere" as the main reasons for leaving.


@SockRolid,

Yeah it is. If you haven't seen or don't remember...
Stewart slams Cramer with Apple video

Wouldn't be so easy to manipulate if Journalists actually reported news instead of all the non-confirmed garbage. Might as well call themselves gossip organizations instead of news organizations.
post #13 of 44
Apple, more than ever has potential to become the worlds most valuable company. Likely within a year. Being COO, and next in line for CEO of this company is not a train you want to get off of!

It would be foolish to leave for HP, a company hedging it's bets on multi-touch printer tablets (wtf?)... Cook is no fool.
post #14 of 44
Quote:
Originally Posted by Chris_CA View Post

In other news, Steve Jobs is quitting Apple to run HP, citing "low pay" and a "creatively stifling atmosphere" as the main reasons for leaving.

If only it were true. Put HP in the walled garden and let OSX be free.
post #15 of 44
Quote:
Originally Posted by hezetation View Post

Wouldn't be so easy to manipulate if Journalists actually reported news instead of all the non-confirmed garbage. Might as well call themselves gossip organizations instead of news organizations.

Another way to look at it is that people like Cramer aren't really even journalists. They're fairly transparent con artists who entertainment companies like CNBC put on the air because they know that there are a bunch of idiots out there who will watch this stuff. I can visualize the typical viewer -- white male, aged 50-70, slightly above average income, who has deluded himself into thinking that he can get rich quick because he's got the "inside scoop" from Jim Cramer. No doubt he supports a Tea Party candidate, because he doesn't want to pay capital gains taxes on all the money he's going to make when Cramer's hot stock tips pay off big-time.

People are always happy to pay for the fantasy of being rich.
post #16 of 44
Well, words from Slash Lane, AKA you-know-who. Welcome back. Thought you had another bike accident.
post #17 of 44
Quote:
Originally Posted by Blastdoor View Post

Another way to look at it is that people like Cramer aren't really even journalists. They're fairly transparent con artists who entertainment companies like CNBC put on the air because they know that there are a bunch of idiots out there who will watch this stuff. I can visualize the typical viewer -- white male, aged 50-70, slightly above average income, who has deluded himself into thinking that he can get rich quick because he's got the "inside scoop" from Jim Cramer. No doubt he supports a Tea Party candidate, because he doesn't want to pay capital gains taxes on all the money he's going to make when Cramer's hot stock tips pay off big-time.

People are always happy to pay for the fantasy of being rich.

Capital gains taxes, like you mean the huge taxes you pay when you sell your house for more than you bought it for. The increase in value being artificial and the result of inflation caused by the federal reserve policies, encouraged by a government spending far more than it can afford. Until of course it all goes bust and 15%+ (true unemployment since those who no longer get benefits aren't counted) of the country has no jobs and are losing said homes.
post #18 of 44
Quote:
Originally Posted by SockRolid View Post

AAPL is one the most heavily manipulated stocks. I thought this kind of thing only happened before major announcements. As in "buy on the rumor, sell on the news"...

But that's OK. Anyone with a short position on AAPL is in trouble.

Anyone who buys or sells on rumors gets exactly what they deserve. Too bad it didn't dip more, would have been a good tine to pick up some shares!
post #19 of 44
Quote:
Originally Posted by DocNo42 View Post

Anyone who buys or sells on rumors gets exactly what they deserve. Too bad it didn't dip more, would have been a good tine to pick up some shares!

so you were going to buy on the rumour?
post #20 of 44
Quote:
Originally Posted by Pooch View Post

this stuff cracks me up. how do you know that the rumour is the cause of the drop?

Apple has a week plus of increases and then the same day that all the blogs jump onto this rumor and publish it with the appearance of fact, the stock drops $4 and $4 the next day.

AND HP goes up (albeit at a smaller rate)

I doubt it was caused by the record high temps in Cali.
post #21 of 44
Quote:
Originally Posted by Pooch View Post

this stuff cracks me up. how do you know that the rumour is the cause of the drop? appl has been trading at all-time highs. maybe it's some profit takers? or maybe the announcement of the rim tablet? or maybe the high temperatures in the area? did you analyze the day's trade data? how do you know what you know?

Every market move must have an explanation. Even a far-fetched explanation sounds more plausible (to some) than saying that it happened for no known reason.
Please don't be insane.
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Please don't be insane.
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post #22 of 44
Cook should go to HP and liquidate the company to return money to the shareholders. HP is a crappy company with nothing except their super expensive ink to sell. They sold their soul to Wintel and now they are paying the price. WebOS was interesting and now it is dead under the HP umbrella.
post #23 of 44
Quote:
Originally Posted by charlituna View Post

Apple has a week plus of increases and then the same day that all the blogs jump onto this rumor and publish it with the appearance of fact, the stock drops $4 and $4 the next day.

AND HP goes up (albeit at a smaller rate)

I doubt it was caused by the record high temps in Cali.

Actually, the rumour resurfaced because no one could find a good reason for the flash crash. The RIMM announcement wasn't it, RIMM dropped too.

The Cook rumour doesn't make sense either. Rumours of that sort have a small and immediate effect.

I think it was just a huge wave of profit taking with the consumer confidence stats about to be released.
post #24 of 44
Quote:
Originally Posted by revilre View Post

Capital gains taxes, like you mean the huge taxes you pay when you sell your house for more than you bought it for. The increase in value being artificial and the result of inflation caused by the federal reserve policies, encouraged by a government spending far more than it can afford. Until of course it all goes bust and 15%+ (true unemployment since those who no longer get benefits aren't counted) of the country has no jobs and are losing said homes.

1. Capital gains taxes on selling primary residence isn't remotely the same as capital gains taxes on selling stocks. (http://taxes.about.com/od/taxplannin...e_sale_tax.htm)

2. What inflation? Inflation hasn't been a problem since the early 1980s.

3. Yes, unemployment is closer to 15% when it's calculated right. I agree with that. And I'm also happy to place some blame on the fed, but not because of high inflation (which doesn't exist) but because their fear of nonexistent inflation prevents them from taking stronger action to increase demand.

Of course, 1-3 is all besides the point. You're obviously one of those 50-70 yo white male Tea Party wingnuts. Nothing anyone says will penetrate your diseased mind.
post #25 of 44
Quote:
Originally Posted by Blastdoor View Post

1. Capital gains taxes on selling primary residence isn't remotely the same as capital gains taxes on selling stocks. (http://taxes.about.com/od/taxplannin...e_sale_tax.htm)

2. What inflation? Inflation hasn't been a problem since the early 1980s.

3. Yes, unemployment is closer to 15% when it's calculated right. I agree with that. And I'm also happy to place some blame on the fed, but not because of high inflation (which doesn't exist) but because their fear of nonexistent inflation prevents them from taking stronger action to increase demand.

Of course, 1-3 is all besides the point. You're obviously one of those 50-70 yo white male Tea Party wingnuts. Nothing anyone says will penetrate your diseased mind.

Humour the old man, he's obviously deluded.
post #26 of 44
Aside from the fact that this story is most likely a scam, it's interesting to contemplate whether Tim Cook ever would leave Apple. It's virtually impossible for a lowly peon such as myself to imagine what's going on inside the mind of the COO of the second most valuable company in the world, but I have to say that I could never leave Apple if I were in his shoes, unless it was for something completely different from the computer/tech industry. Going to run HP after being at Apple would be like... flying coach after flying first class, driving Toyota after driving a BMW (I loathe Toyota), or using a PC after using a Mac. In other words, it would be a hollow empty experience.

Now, were I in his shoes, I could imagine contemplating someday going off to do something entirely different. Maybe do something in renewable energy, buy a winery (and be prepared to lose money), or start a foundation that funds genetic research.

But run HP? Bleh.
post #27 of 44
Quote:
Originally Posted by Blastdoor View Post

1. Capital gains taxes on selling primary residence isn't remotely the same as capital gains taxes on selling stocks.

Funny, that. Nobody except a real estate flipper ever needs to pay capital gains on the sale of a home.
Please don't be insane.
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Please don't be insane.
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post #28 of 44
Quote:
Originally Posted by Blastdoor View Post

Aside from the fact that this story is most likely a scam, it's interesting to contemplate whether Tim Cook ever would leave Apple. It's virtually impossible for a lowly peon such as myself to imagine what's going on inside the mind of the COO of the second most valuable company in the world, but I have to say that I could never leave Apple if I were in his shoes, unless it was for something completely different from the computer/tech industry. Going to run HP after being at Apple would be like... flying coach after flying first class, driving Toyota after driving a BMW (I loathe Toyota), or using a PC after using a Mac. In other words, it would be a hollow empty experience.

Now, were I in his shoes, I could imagine contemplating someday going off to do something entirely different. Maybe do something in renewable energy, buy a winery (and be prepared to lose money), or start a foundation that funds genetic research.

But run HP? Bleh.

Hey! I prefer my Toyota to my girlfriends BMW. Other than that though, I have to agree with everything you said. I really can't see Cook going to HP. I COULD have imagined him going to Palm, just for the challenge, but never HP.
post #29 of 44
Quote:
Originally Posted by Blastdoor View Post

2. What inflation? Inflation hasn't been a problem since the early 1980s.

That explains why a dollar from 30 years ago would need to be over $2.50 today. Or, stated, differently, a dollar from 19080 is worth about 39 cents today. Lest you claim that it was the high inflation of the early 80's, even if you start in 1985, a dollar from 1985 is worth 50 cents today. That's not no inflation.

Quote:
Originally Posted by Blastdoor View Post

You're obviously one of those 50-70 yo white male Tea Party wingnuts. Nothing anyone says will penetrate your diseased mind.

How nice. When rational arguments fail, then resort to name-calling and insults.

The state is nothing more than a criminal gang writ large.

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The state is nothing more than a criminal gang writ large.

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post #30 of 44
Not too long ago HP was one of the best places to work for - Not just for the Indians, but also for the Chiefs! HP was one of the shinning star of the valley. It is so sad to see what has happened and happening of HP. I would think this would be the 2nd company (after Yahoo) who has really been messed up due to actions of Board of Directors!
post #31 of 44
Quote:
Originally Posted by MJ1970 View Post

That explains why a dollar from 30 years ago would need to be over $2.50 today. Or, stated, differently, a dollar from 19080 is worth about 39 cents today. Lest you claim that it was the high inflation of the early 80's, even if you start in 1985, a dollar from 1985 is worth 50 cents today. That's not no inflation.

Look, inflation can be one of three things -- positive, negative, or zero. Negative => deflation => depression. Zero is virtually impossible. That leaves positive. And if it's positive then over any stretch of time compounding the rate will allow you to make the types of statements you're making. But so what? It means nothing.

Since Volker crushed inflation in the 1980s, inflation has been low and stable. We do not suffer from inflation rates that are too high. You're barking up the wrong tree.
post #32 of 44
Quote:
Originally Posted by Blastdoor View Post

Since Volker crushed inflation in the 1980s, inflation has been low and stable. We do not suffer from inflation rates that are too high. You're barking up the wrong tree.

OK

The state is nothing more than a criminal gang writ large.

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The state is nothing more than a criminal gang writ large.

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post #33 of 44
Quote:
Originally Posted by Blastdoor View Post

What inflation? Inflation hasn't been a problem since the early 1980s.

According to historical data from consumer price index .... what cost you $100.00 in 1980 would have cost you $257.00 in 2009. .... I'd say that amount of inflation could be called a problem, wouldn't you?
Apple is not Appl ...... Please learn the difference!    
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Apple is not Appl ...... Please learn the difference!    
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post #34 of 44
Quote:
Originally Posted by SockRolid View Post

AAPL is one the most heavily manipulated stocks. I thought this kind of thing only happened before major announcements. As in "buy on the rumor, sell on the news"...

But that's OK. Anyone with a short position on AAPL is in trouble.

I think that is exactly what happened. September options expired a few days ago, and a whole mess of people shorting Apple got caught with the recent climb in price. If you have enough shares, you can dump half of them at the higher price, selling all the way down to the target, and then start buying again while the panic is still rampant. Instant $20-30 a share profit.
post #35 of 44
Quote:
Originally Posted by charlituna View Post

Apple has a week plus of increases and then the same day that all the blogs jump onto this rumor and publish it with the appearance of fact, the stock drops $4 and $4 the next day.

AND HP goes up (albeit at a smaller rate)

I doubt it was caused by the record high temps in Cali.

uhm, yeah, and rim announced their playbook, too, yesterday. but it was the rumour. all the rumour.

i have as much evidence that the price drop was because of the weather in california as you do that it was the rumours.
post #36 of 44
Quote:
Originally Posted by Wurm5150 View Post

If Cook leaves for HP, Apple will counter by swiping Bradley away from HP to replace Cook.

Not sure if you're serious. But I don't think Apple wants to touch anything from HP with a 10-foot pole.
post #37 of 44
Quote:
Originally Posted by jwdav View Post

I think that is exactly what happened. September options expired a few days ago, and a whole mess of people shorting Apple got caught with the recent climb in price. If you have enough shares, you can dump half of them at the higher price, selling all the way down to the target, and then start buying again while the panic is still rampant. Instant $20-30 a share profit.

AAPL drops 1.5% and that's a... panic?
Please don't be insane.
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Please don't be insane.
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post #38 of 44
Quote:
Originally Posted by AppleInsider View Post

should the co-founder ever have to step down.

He's only 55 so it's possible he could be in control for a while, health permitting. There have been CEOs aged 100. The personal computer industry has only been going for 26 years. Even another 10-15 years, things will change dramatically.

I still don't think Cook is right for the position though, at least not as a spokesperson. His stage presence doesn't go over very well at all. He just seems too corporate. Phil is not serious enough, Ive is too pretentious and not confident enough and Serlet too frightening. Cook could be the CEO and Forstall would be a good spokesperson. He's sometimes too youthful in the sense that he talks like a teenager being blown away by stuff all the time but I think Apple needs that youthful appeal. Once they go the corporate route, it's not going to look good.
post #39 of 44
Quote:
Originally Posted by newbee View Post

According to historical data from consumer price index .... what cost you $100.00 in 1980 would have cost you $257.00 in 2009. .... I'd say that amount of inflation could be called a problem, wouldn't you?

No, I would not call 3.2% annual inflation a problem.

I would call the significantly higher inflation rates of the late 70s and early 80s a major problem, but as I said, volker solved that problem. Since volker, inflation has been generally in the ballpark of 2%.

How is that a problem?
post #40 of 44
Quote:
Originally Posted by MJ1970 View Post

OK



Ha -- I win!
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