Tim Cook refutes China worries, calls Apple's growth 'strong' in rare mid-quarter update

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Comments

  • Reply 41 of 90
    Quote:

    Originally Posted by sog35 View Post

     

     

    So they don't give any explanations?  I did not receive any warnings PM's on why I was banned.  Strange.


    That is strange.

     

    Did you ask them why/what happened?

  • Reply 42 of 90
    asdasd wrote: »
    Bannings are not what they used to be.
    There's were proper bans when Steve was alive. I blame Tim.
  • Reply 43 of 90
    Quote:
    Originally Posted by SpamSandwich View Post





    Tim should stay laser-focused on product and services.



    So many causes, so little time.

     

    Here's one article on the SEC potential http://www.marketwatch.com/story/apple-ceo-tim-cook-may-have-violated-sec-rules-with-jim-cramer-email-2015-08-24

     

    Which I think will come to nothing, if CEO's can talk up on Twitter about the company.

  • Reply 44 of 90
    Quote:

    Originally Posted by Rogifan View Post



    Ha so now the media is questioning whether Tim Cook violated SEC rules with his email to Jim Cramer. As if his email wasn't vetted a thousand different ways by Apple's legal and finance departments before he sent it.

    There could be a 'Reg FD' issue here. From the SEC website:

     

    Fair Disclosure, Regulation FD

    Regulation FD addresses the selective disclosure of information by publicly traded companies and other issuers. Regulation FD provides that when an issuer discloses material nonpublic information to certain individuals or entities—generally, securities market professionals, such as stock analysts, or holders of the issuer's securities who may well trade on the basis of the information—the issuer must make public disclosure of that information. In this way, Regulation FD aims to promote the full and fair disclosure.

     

    I have a feeling that Apple will have to do a quick SEC filing to put out that statement to all investors...

  • Reply 45 of 90
    Quote:
    Originally Posted by sog35 View Post

     

    Who cares.


    The SEC might.

     

    It really doesn't matter whether you or I do. Moreover, I was just responding to someone's post. And, it pays to be knowledgeable about some basic issues concerning disclosure.

  • Reply 46 of 90
    rogifanrogifan Posts: 10,669member
    There could be a 'Reg FD' issue here. From the SEC website:

    <h1 style="border:0px;color:rgb(0,0,0);margin-bottom:0px;margin-top:0px;padding-bottom:0px;">Fair Disclosure, Regulation FD</h1>

    <p style="border:0px;color:rgb(0,0,0);margin-bottom:10px;"><a href="http://www.sec.gov/rules/final/33-7881.htm" style="color:rgb(0,0,153);margin:0px;padding:0px;" target="_blank">Regulation FD</a>
     addresses the selective disclosure of information by publicly traded companies and other issuers. Regulation FD provides that when an issuer discloses material nonpublic information to certain individuals or entities—generally, securities market professionals, such as stock analysts, or holders of the issuer's securities who may well trade on the basis of the information—the issuer must make public disclosure of that information. In this way, Regulation FD aims to promote the full and fair disclosure.</p>


    I have a feeling that Apple will have to do a quick SEC filing to put out that statement to all investors...

    Wasn't it made public this morning on CNBC? When Eddy Cue made comments about Apple Music and App Store sales in China did Apple do an sec filing for that?
  • Reply 47 of 90
    rogifanrogifan Posts: 10,669member
    sog35 wrote: »
    information given to the media and made public is not illegal.

    These clowns in the media just trying to do anything to tank Apple stock

    I don't know exactly when Cook responded to Cramer's email but I'm going to assume before he hit send the email was reviewed and approved by Apple finance and legal departments as OK to send.
  • Reply 48 of 90
    foggyhillfoggyhill Posts: 4,767member
    Quote:

    Originally Posted by Rogifan View Post





    Wasn't it made public this morning on CNBC? When Eddy Cue made comments about Apple Music and App Store sales in China did Apple do an sec filing for that?

     

    As long as they don't profit themselves from their info, the information is truthfull in the moment they say it. and it's made public in a large away (so everyone can find out at the same time, so not in a little private blog), they can say whatever they like. Usually they don't because there is always risk that you will say something you shouldn't. But, most high level execs are well couched in what info can be made public at a given time; like a talking point issued internally by the PR department.

  • Reply 49 of 90
    foggyhillfoggyhill Posts: 4,767member
    Quote:

    Originally Posted by Rogifan View Post





    I don't know exactly when Cook responded to Cramer's email but I'm going to assume before he hit send the email was reviewed and approved by Apple finance and legal departments as OK to send.

     

    Finance, Legal and possibly even PR.

  • Reply 50 of 90
    Quote:

    Originally Posted by Rogifan View Post

     
    Quote:

    Originally Posted by anantksundaram View Post



    There could be a 'Reg FD' issue here. From the SEC website:

     

    Fair Disclosure, Regulation FD

     

    Regulation FD

     addresses the selective disclosure of information by publicly traded companies and other issuers. Regulation FD provides that when an issuer discloses material nonpublic information to certain individuals or entities—generally, securities market professionals, such as stock analysts, or holders of the issuer's securities who may well trade on the basis of the information—the issuer must make public disclosure of that information. In this way, Regulation FD aims to promote the full and fair disclosure.






    I have a feeling that Apple will have to do a quick SEC filing to put out that statement to all investors...




    Wasn't it made public this morning on CNBC? When Eddy Cue made comments about Apple Music and App Store sales in China did Apple do an sec filing for that?

    It'll be more of an 'after-the-fact, for-the-record' type of thing. Companies have a legal duty to disclose honestly, and just talking to an analyst or a reporter does not cut it.

  • Reply 51 of 90
    blitz1blitz1 Posts: 412member
    Quote:

    Originally Posted by sog35 View Post

     

     

    Thats the way it suppose to be.

     

    When Jobs was CEO Apple was a much smaller company than now.  Right now Apple is the bellweather for the entire USA market and you could argue the world market.  If Apple tanks the entire world stock market tanks.  

     

    There is no reason for Cook not to set the record straight.  IMO, he should have done it even earlier.  Call out those Wall STreet manipulators to the table.  If Cook keeps doing this eventually the Wall STreet manipulators will realize then can't use the media to manipulate the stock because Cook will call their bluff.




    Looks like right now Cook is using the media to manipulate the stocK...

  • Reply 52 of 90
    mubailimubaili Posts: 387member
    solipsismy wrote: »
    1) Perhaps it's a post hoc fallacy but that appears to have reversed most of the pre-market drop.

    2) I see this issue in China like the 2008 recession in the US. This will not have any effect on Apple. Those that want Apple's products in China will still be able to buy them. China isn't Greece.
    well, many people on the fence could delay the purchase, or buy a cheaper model, or switch to Huawei/Xiaomi phones.
  • Reply 53 of 90
    ncil49ncil49 Posts: 30member
    Tim Cook just guaranteed the quarter thank you very much. People will flock to apple for safe haven short term.
  • Reply 54 of 90
    jfc1138jfc1138 Posts: 3,090member
    Quote:
    Originally Posted by asdasd View Post





    Odd. If that happened it happened so fast that the graphs couldn't graph it. I was eyeballing my stocks app and, since that comes from yahoo, here's the equivalent.



    http://finance.yahoo.com/q?s=aapl+Interactive



    It does say today's ( and the 52 week) low was $92 but it seems to start at $95 in the graph and go up from there



    The data page of my Apple iPhone Stock app shows the numbers. Low of 92 even.Open at 95.17... Vol? 127.1 million and counting!

  • Reply 55 of 90
    asdasdasdasd Posts: 5,267member
    Surely the email was always meant to be public.

    I wouldn't be too sure that ever email sent by apple management is vetted, however. Jobs wasn't very careful.
  • Reply 56 of 90
    sog35 wrote: »

    The SEC does not care.  They are paid their salaries from big public firms.  Information given to the media is fair game.  Just like when Tim had interviews on TV before.  

    Media trying to do anything they can to paint Apple in a bad light.

    What!? You're an expert now on how the SEC thinks?

    Why not dispense with 10Q filings then and just hand it over to CNBC to broadcast?

    Give me a break. What a clueless post.
  • Reply 57 of 90
    jfc1138jfc1138 Posts: 3,090member
    Quote:

    Originally Posted by sog35 View Post

     

     

    No way.  Like Cook said the sales in China has not been hurt one bit.

     

    I can't emphasize it enough: The stock market in China is not like the stock market in the USA.  The majority of the middle/upper middle class don't even own China stocks.  It is viewed as a rich man's casino.  Just remember that the China stock market is 1/3 the size of the Japanese stock market.  That alone should tell you how small it is and has almost no bearing on the economy.  The only people 'losing' money in the China market are degenerate gamblers and very wealthy Chinese.  And even these may have not lost money at all.  The China stock market is still up 43% the last 12 months.




    I read some where only about 7% of the Chinese participate in their stockmarket: I expect that's in part related to differences in retirement. A lot of American participation is via 401ks etc....

  • Reply 58 of 90
    asdasdasdasd Posts: 5,267member
    jfc1138 wrote: »

    The data page of my Apple iPhone Stock app shows the numbers. Low of 92 even.Open at 95.17... Vol? 127.1 million and counting!

    Sure but can you see when it hit 92? Must have been a flash drop.
  • Reply 59 of 90
    misamisa Posts: 827member
    sirlance99 wrote: »
    But the stock will still hit $150 this year according to you. Haha!

    Only if the wider market let's it.

    Most of the trades on NYSE and NASDAQ are automated trades that react to news and are market makers. They are very few small investors, just a lot of large ones. Like if you haven't seen the film "Margin Call", see it. It may be dramatized, but that's the exact kind of "screw everyone that isn't me" attitude that investment banks take. Overleverage = Panic sell. So these firms investing in China... started a panic sell... because of the currency manipulation by the Chinese government.

    Well what did you expect was going to happen.

    This isn't like Greece. Nobody sane would invest in Greece, and those who were greedy, did, expecting massive gains, and instead had to take losses as the Government wasn't interested in paying the loans back, and the Germans would rather let Greece fend for itself if it wouldn't be so bad for the Eurozone itself.

    Then there is Russia where, like Greece and Italy, has the mobsters running the government. The Russian Kleptocracy, ensures that your money will just be taken, and nobody will be investigated for it.

    I imagine the Chinese investment scheme might be taking ideas from the Russian playbook of how to rob investors, though I don't know how much of it is by the state and how much of it is the companies themselves overvaluing assets. I mean look at the reverse where Chinese companies put their companies on Western stock markets and then collapsed, taking their investors money with it.

    Apple isn't a Chinese-owned company, though it does business with Chinese companies. So at best, little happens, and people quit the panic-sell. At worst, Chinese millionaire/billionaires lose their shirts and a few less people than expected end up buying iPhones this year.

    Like I laugh everytime someone calls a Chinese phone an "iPhone killer", if you know anything about the culture of China, they are not super-loyal to domestic brands, and instead covet western brands. It's a status symbol. Westerners only covet the cheap Chinese-made goods because they are cheap and disposable. If products were made to last like they used to be 70 years+ ago we wouldn't need China to produce all this disposable trash in the first place.
  • Reply 60 of 90
    thomprthompr Posts: 1,511member
    Quote:

    Originally Posted by anantksundaram View Post





    What!? You're an expert now on how the SEC thinks?



    Why not dispense with 10Q filings then and just hand it over to CNBC to broadcast?



    Give me a break. What a clueless post.



    Didn't you get the memo?

     

    Sog is an expert on absolutely everything.

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