Tim Cook says Apple's earnings power is 'probably under-appreciated' in CNBC 'Mad Money' i...
In an interview with CNBC airing on Tuesday evening, Apple CEO Tim Cook says that the company has great things coming, and "the ecosystem has never been stronger."
Apple's Cook is taking to television to address the contined potshots analysts and Wall Street is taking since the company revised its revenue projections on Jan. 2.
"In terms of the naysayer, I've heard this over and over again," Cook said in an interview with CNBC's Jim Cramer. "I've heard it in 2001, I've heard it in 2005, in '7, in '8, in '10, in '12 and '13. You can probably find the same quotes from the same people over and over again."
"I'm not defensive on it. This is America and you can say what you want," Cook said. "But ... my honest opinion is that there is a culture of innovation in Apple and that culture of innovation combined with these incredible, loyal customers, happy customers, this ecosystem, this virtuous ecosystem, is something that is probably under-appreciated."
The company has said that it will report $84 billion in revenue for the holiday quarter -- second only in results to the 2017 holiday quarter. Wall Street responded with a continued beating of Apple stock, above and beyond what it already suffered when the company said it would no longer report sales figures of the iPhone.
"I'm never surprised by the market, to be honest with you, because I think the market is quite emotional in the short term," Cook said when asked about the reaction to the earnings revision. "We sort of look through all of that. We think about the long term. And so when I look at the long-term health of the company, it has never been better. The product pipeline has never been better. The ecosystem has never been stronger. The services are on a tear."
The interview with Jim Kramer will air in full on "Mad Money" on CNBC at 6 p.m. Eastern Time.
Apple's Cook is taking to television to address the contined potshots analysts and Wall Street is taking since the company revised its revenue projections on Jan. 2.
"In terms of the naysayer, I've heard this over and over again," Cook said in an interview with CNBC's Jim Cramer. "I've heard it in 2001, I've heard it in 2005, in '7, in '8, in '10, in '12 and '13. You can probably find the same quotes from the same people over and over again."
"I'm not defensive on it. This is America and you can say what you want," Cook said. "But ... my honest opinion is that there is a culture of innovation in Apple and that culture of innovation combined with these incredible, loyal customers, happy customers, this ecosystem, this virtuous ecosystem, is something that is probably under-appreciated."
EXCLUSIVE: Tim Cook to Apple naysayers: The ecosystem has never been stronger'
See full interview on @MadMoneyOnCNBC at 6p ET tonight. https://t.co/oWUs1GKh3h pic.twitter.com/knuQAy6bX7— CNBC Now (@CNBCnow)
The company has said that it will report $84 billion in revenue for the holiday quarter -- second only in results to the 2017 holiday quarter. Wall Street responded with a continued beating of Apple stock, above and beyond what it already suffered when the company said it would no longer report sales figures of the iPhone.
"I'm never surprised by the market, to be honest with you, because I think the market is quite emotional in the short term," Cook said when asked about the reaction to the earnings revision. "We sort of look through all of that. We think about the long term. And so when I look at the long-term health of the company, it has never been better. The product pipeline has never been better. The ecosystem has never been stronger. The services are on a tear."
The interview with Jim Kramer will air in full on "Mad Money" on CNBC at 6 p.m. Eastern Time.
Comments
Apple stock price is not, and never has been, an indictment, indicator, or any kind of measure of the company's health or "innovation".
As usual he will be 'thrilled' to announce Apple's second largest revenue results with so many headwinds in place and that is also logical and expected.
Company wide things are not bad but iPhone needs to be looked at - closely.
iPhone needs to be looked at?
Bullshit.
More bullshit. How is it Cook’s fault if a bunch of idiotic analysts don’t comprehend the value of the iOS ecosystem? Or don’t understand Apple? Which they clearly don’t given their abysmal track record of always being wrong.
Almost four years of flat sales and now very likely to announce a historic dip in unit sales coinciding with a revenue warning - on its blowout quarter.
2018 iterative upgrade to iPhone.
40% wiped off company value in just a few months.
Company health in general may be good. The iPhone needs to be looked at though. The Chinese iPhone market alone is of such vital strategic importance to Apple that the company formally admitted that any successful ban on iPhone sales in the Chinese market (as a result of QC's legal efforts) would mean Apple having no option to give up the fight against QC.
”Probably” shows as a sign of weakness in his comment. As in he’s not sure what the naysayers believe. But given the focus from the naysayers on a particular metric that will no longer be reported... they are blind to the true Apple product. So the “probably” needs to GTFO of the conversation.
Apple is Doomed™ /s
CNBC had a piece today that pointed out that last fall, despite warnings, not a single analyst put out a "sell" notice for Apple. That's irrational exuberance applied to a single stock.
No, it's the fault of analysts who have been dazzled by the bright, shiny object called "iPhone" and were unable to see anything else.