Apple CEO Tim Cook now slated to speak at Tuesday's GS conference during open market

Posted:
in AAPL Investors edited January 2014
A last minute change to the keynote speaker lineup for Goldman Sach?s tech conference on Tuesday has Apple CEO Tim Cook speaking as the U.S. stock market opens for trading rather than during his initially-scheduled slot following market close.

Tim Cook


The shift was made public Monday in an update to the investment bank's official agenda for the San Francisco, Calif-based conference. Cook is now slated to speak at 7:15 am PT/ 10:15 am ET rather than the previously scheduled 1:15 pm PT/ 4:15 pm ET slot that would see his comments arrive during after hours trading, following the conclusion of the day's regular trading session.

Apple's top brass have traditionally shied away from making material announcements during their appearances at non-Apple sponsored events, but the last minute scheduling change places Cook's comments square in the early morning trading session and will undoubtedly raise the eyebrows of industry-watchers who wonder whether Cook will use the forum to make some form of market-moving comments.

Generally speaking, Apple watchers have witnessed a pattern where Apple disclosures early in the day and week generally translate to positive news while those later in the week or after market have a higher risk of presenting downside for investors.

Like last year, Cook's presentation at the Goldman conference comes just days before Apple's annual shareholder meeting, a forum which has historically produced a bit more color on the company's ambitions and thinking than third-party keynote address.

This year, however, Apple and Cook find themselves under increased scrutiny from their investment community, which collectively lost tens of billions of dollars in equity on the back of disappointing first quarter results released last month.

With signs that Apple's bread-and-butter iPhone business is becoming vulnerable to the likes of Samsung and its own smartphone portfolio, analysts are now more than ever unified in their appeals for additional transparency on the direction the company plans to take to stem the encroachment and continue to grow the segment worldwide.

Additionally, analysts and investors alike are frustrated with Apple's use of capital amid the increase in competition, with one large hedge fund manager going as far as to sue the company over the use -- or lack thereof -- of its $137 billion and growing cash hoard.

Like last year, Apple will provide an audio stream of Cook's keynote speech through its investor website. At last year's conference, Cook talked supplier working conditions, iPad penetration, competitive pricing, cannibalization, iCloud, the company's balance sheet, and a vow 'not to permit the slow undoing of Apple.'
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Comments

  • Reply 1 of 47
    Did he speak last year? I certainly haven't seen any video, or heard any podcast. Anything available?

    Someone else spoke just now: Elop of Nokia, supposedly saying "With a clear strategy, the fighting spirit of the people of Finland will be brought to bear."

    When I looked at the pic I thought they were talking about either smartphone market share or profit:
    [IMG ALT=""]http://forums.appleinsider.com/content/type/61/id/20428/width/500/height/1000[/IMG]
  • Reply 2 of 47


    This smells a little too bean-counterish for my tastes. 

  • Reply 3 of 47
    slurpyslurpy Posts: 5,154member
    He did the same thing last year I'm pretty sure.
  • Reply 4 of 47
    rob53rob53 Posts: 2,046member
    I hope he gets up there and reams all those selfish investors who think they own Apple and Apple's only reason for being around is to make them money. Apple makes products first and foremost and that's what he needs to say. The money they make is because of their products not because of some crazy hedge fund person. If Apple didn't make good products, they wouldn't have any money for investors in the first place. There are plenty of investors, including huge ones, that understand this, it's only those crazy maniacs who are trying to squeeze every penny out of a company before moving on to the next one.
  • Reply 5 of 47
    This seems like a tactical move on Apple's part.
  • Reply 6 of 47
    robmrobm Posts: 1,068member

    Quote:

    Originally Posted by PhilBoogie View Post



    Did he speak last year? I certainly haven't seen any video, or heard any podcast. Anything available?



    Someone else spoke just now: Elop of Nokia, supposedly saying "With a clear strategy, the fighting spirit of the people of Finland will be brought to bear."



    When I looked at the pic I thought they were talking about either smartphone market share or profit:



    Lol - Ballmers either laughing or more likely praying.

  • Reply 7 of 47


    Originally Posted by Quadra 610 View Post

    This smells a little too bean-counterish for my tastes. 


     


    He may have to do this with the recent lawsuit and whatever else.

  • Reply 8 of 47
    tbelltbell Posts: 3,146member
    robm wrote: »
    Lol - Ballmers either laughing or more likely praying.

    Ballmer doesn't need to pray, he makes hundreds of million of dollars a year in dividends alone.
  • Reply 9 of 47
    jungmarkjungmark Posts: 6,705member
    He's not going to say anything substantial. He's going to look at the analysts and flip them off. He's also going to emphasis record iPad and iPhone sales, reiterate the most profitable year in human history, and says Apple will invest its cash where it sees fit: stock buy backs, investments, acquisitions.
  • Reply 10 of 47


    Originally Posted by sog35 View Post


    If all they cared about was making great products for the world to use they would sell them at a thinner margin so more people can buy them.



     


    Or maybe they care about being able to make enough so that people can buy them at current prices.

  • Reply 11 of 47
    jkichlinejkichline Posts: 1,336member


    As I learned in business class, the purpose of a for-profit corporation is to "increase shareholder wealth".  So while Apple is very strong with their cause and mission to build great products... the reason you become a public company is to increase shareholder wealth.  Being an entrepreneur, I started a business and we had a few partners (shareholders).  Over time the ideals of the business were quickly removed to just "increase shareholder wealth".  The trouble is that many companies lose their way when they only chase after money, or only look in the short term.  The reason why investors are upset is that they don't have vision past their wallets. Apple is successfully increasing shareholder wealth (more than any other company), so these investors need to chill out and let Apple do what they do... either that or sell your shares and find a better performing company elsewhere.

  • Reply 12 of 47

    Quote:

    Originally Posted by rob53 View Post



    I hope he gets up there and reams all those selfish investors who think they own Apple and Apple's only reason for being around is to make them money. Apple makes products first and foremost and that's what he needs to say. The money they make is because of their products not because of some crazy hedge fund person. If Apple didn't make good products, they wouldn't have any money for investors in the first place. There are plenty of investors, including huge ones, that understand this, it's only those crazy maniacs who are trying to squeeze every penny out of a company before moving on to the next one.


     


    Maybe if they weren't getting destroyed by the competition and coming up with recycled garbage every 3 quarters investors wouldn't be b!tching about AAPL letting their growing cash pile rot for nothing.  Of course if you don't own AAPL you wouldn't give a rats, but those who do...


     


    And I don't own AAPL. 

  • Reply 13 of 47
    gatorguygatorguy Posts: 20,717member

    Quote:

    Originally Posted by PhilBoogie View Post



    Did he speak last year? I certainly haven't seen any video, or heard any podcast. Anything available?


    Yes. Apple did a live webcast of his presentation at the same GS tech conference last year, tho it was at 3:30PM ET rather than at the opening.


     


    EDIT: If you go to 9to5 they have a link today to his speech from last year.

  • Reply 14 of 47
    I wonder if it is a strategy to limit the market figuring things out in low-volume after market trades, especially in a major options expiration week.

    Nice seeing AAPL recover some... would be nicer to see it at $700 though...
  • Reply 15 of 47
    apple ][apple ][ Posts: 8,680member

    Quote:

    Originally Posted by rob53 View Post



    I hope he gets up there and reams all those selfish investors who think they own Apple and Apple's only reason for being around is to make them money. 


     


    The whole point of investing is to make money. What an outlandish idea!


     


    Apple makes the best products around, but if I put some of my money into Apple, it's not because I'm being generous and I like throwing money around, it's because I'm looking to make a return on that investment.

  • Reply 16 of 47
    rogifanrogifan Posts: 10,669member

    Quote:

    Originally Posted by Quadra 610 View Post


    This smells a little too bean-counterish for my tastes. 



    I'm glad Cook is doing this.  Being über secretive isn't doing Apple any good these days. Might have worked when Jobs was CEO or when they weren't the most valuable company in the world.  But it doesn't work any more.

  • Reply 17 of 47
    rogifanrogifan Posts: 10,669member

    Quote:

    Originally Posted by KingChael View Post


     


    Maybe if they weren't getting destroyed by the competition and coming up with recycled garbage every 3 quarters investors wouldn't be b!tching about AAPL letting their growing cash pile rot for nothing.  Of course if you don't own AAPL you wouldn't give a rats, but those who do...


     


    And I don't own AAPL. 



    Haha....yeah right.

  • Reply 18 of 47
    gatorguy wrote: »
    If you go to 9to5 they have a link today to his speech from last year.

    Thanks for the info, I appreciate it.

    This website, 9to5, has got the be the winner of poor design. It is a downright insult of anyone's intelligence, for them to have you think that is a website. That web designer ought to find another profession. Skip that, ought to find A profession.
  • Reply 19 of 47

    Quote:

    Originally Posted by jkichline View Post


    As I learned in business class, the purpose of a for-profit corporation is to "increase shareholder wealth".  So while Apple is very strong with their cause and mission to build great products... the reason you become a public company is to increase shareholder wealth.  Being an entrepreneur, I started a business and we had a few partners (shareholders).  Over time the ideals of the business were quickly removed to just "increase shareholder wealth".  The trouble is that many companies lose their way when they only chase after money, or only look in the short term.  The reason why investors are upset is that they don't have vision past their wallets. Apple is successfully increasing shareholder wealth (more than any other company), so these investors need to chill out and let Apple do what they do... either that or sell your shares and find a better performing company elsewhere.



     


    A corporation goes public to raise capital in order to grow, not to 'increase shareholder wealth'. Shareholders do hope that their investment will reap rewards with regards to reselling their shares or in dividends. If increasing shareholder wealth becomes the primary aim of the corporation, I predict that it will fail due to mismanagement or because a more forward thinking company makes it obsolete. 

  • Reply 20 of 47

    Quote:

    Originally Posted by Rogifan View Post


    I'm glad Cook is doing this.  Being über secretive isn't doing Apple any good these days. Might have worked when Jobs was CEO or when they weren't the most valuable company in the world.  But it doesn't work any more.





    Jobs would have called a press conference and told the market to take care of itself, even with Apple's current value. Just make great stuff. Why is everyone panicking now? All this 'competition' existed even in 2011. People need to chill.



    Not being uber secretive definitely ruined the iPhone 5 & iPad Mini hype. And expectations. And then the damn market. Wish things go back to those old days.

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