Tim Cook USUALLY does not like to tip his hand, BUT.....
What CEO's have "decades of CEO experience"? You forget that Jobs was ousted from his own company in 1985 and returned in 1996. He was the CEO for Apple for about 15 years. Once again, he was not a great CEO, but a great innovator. Jobs legacy will remain for at least another year based on products "in the pipeline". Point being, it doesn't really matter who runs the show at Apple because ALL of the products (except iPad mini) are still Jobs' products.
Therefore, the "bet" is against Apple and not Cook. Still, I think that Cook is more competent as the CEO and definitely better liked than Jobs.
On a side note, he could have easily said, "Demand is poor." "Supply issues have not caught up with demand." " The economy is weak" etc. MANY companies are citing "difficult economic conditions", "increased costs", etc leading to lower guidance.
Based on his comments, you can "bet" that Apple will deliver HUGE this quarter.
lol... Cook is a better CEO than Jobs? yeah, we can see the innovation just oozing out at apple these days... Who the heck heard of Tim Cook? A year in, Tim Cook's idea of product innovation is resizing iphones and ipads, what a joke. And his legal pursuits against competitors are nothing more than scare tactics and admission that they need to win in the court room because he isn't going to win the battle in the field. Under Cook, Apple has already missed 3 out of 5 earnings report, yeah, count'em, 3 out of 5! and now u say they will deliver a big qtr? based on what? historical big beats by Cook? lol..what a joke. How many were missed in the decades under Jobs? I heard just one... lol... it is no match....u buying cook's apple is not the same... the guy is a wannabe Steve Jobs but without the product innovation skills - there goes your apple...see ya at $450
I could not disagree more. Tim Cook is not a "wannabe Steve Jobs." He clearly understands that Jobs was a genius and has no desire to emulate his actions. Like it or not, Cook is making changes that Jobs would NEVER have approved ie iPad mini, stock dividends, etc, thus creating his own identity
Regarding your "3 out of 5" earnings misses, these were a result of inflated estimates by analysts with ridiculous expectations. IN FACT, last quarter's results despite being disappointing were the best EVER for a company in that quarter. Now, how is this a disappointment? Bottom line, Apple has NEVER missed its guidance in over 9 years.
On the contrary, I think that Cook is a genius with his incremental improvements. The iPhone 4s was a huge success despite being slightly better than the iPhone 4. And, to be honest, other than 4G and a slightly bigger screen, the Iphone 5 is not much better than the 4S. Along the same lines, the iPad is slightly improving with the introduction of the iPad mini. When sales slow, the iPad mini with retina display will be introduced and sell another 15 million. In turn, the current iPad mini will drop in price to about $250 which is in line with the "cheap" but inferior tablets. In addition, Cook understands that he needs to produce two product cycles per year, so incremental improvements are the answer.
Innovation is key and until proven otherwise, Apple is still the most innovative country on the planet as proven by winning awards for being the "Most Innovative Company". Hopefully, the Apple TV will change the way we watch TV, but I fear that this may not be as popular as cost will affect its sales.
I agree that Apple will not continue to grow at 40% per year, but I still believe that Apple has room for growth and this quarter will be a blockbuster quarter for Apple.