I didnt expect any announcement on a divy or cash reallocation. But Cook's mere words said it all for me, and I really do not like his tone. If I'm wrong, fine.... I held a $190 cost basis so I'm simply taking profits. But calling an Apple bull and major shareholder a "silly side show" speaks volumes to Cupertino's arrogance. You get away with that stuff when you are a genious like Jobs. I do think they will reallocate capital to shareholders. But I also think they will miss for a fourth strait quarter. In the words of Shark Tank, "I'm out...."
Congrats on your winnings. While I think you may have left some short term money on the table, there is never anything wrong with taking profits. In fact, I am always happy for longs who are rewarded for their tenacity and patience.
I think Cook made a mistake today as well. A CEO's top priority is maximizes shareholder equity and he does little in the way of getting the media to change their tune on Apple. Let's see we had foxcomm labor issues, map gate, than missing a few quarters, compressed margins, lack of innovation, now it's a problem that apple has just under 140m cash. What does Apple's investors relation actually do? There is more to appeasing investors than making great products, as they do. Einhorn is a sleaze bag, however one with great resources to manipulate markets, sway I wonder what Einhorns ego will dream up as a response to the arrogance shown today.
I bought in 2006 ($60/share basis), and finally sold my shares after the last conference call. After the stock had been kicked in the teeth for 3 months, that was the time to defend it, during Apple's traditionally strongest earnings call of the year. It was a time for bold action, and Cook was meek and clueless. The stock's current malaise is a delayed grief response to the loss of Steve Jobs. He was our Edison, Ford and PT Barnum rolled into one, and he was the definition of irreplaceable. I have nothing personal against Cook, but he does not strike me as any more or less able than countless other tech CEO's.
Sorry bro. Happy to see you make some dough. Sad you are gonna miss out on a bigger dough. Hey, somebody else need to make some dough too, why not? What the heck, is it Cramer again getting in your ...?
Sentiment: Strong Buy