This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Tim Cook Seeks to Be Apple's Augustus

Thus, Apple support is rolling out a two-step authentication process, in which a password gets a verification code sent to a separate preregistered device, and thieves can't get in simply by stealing the password.

The change had to be rolled out carefully, because the old system was already being exploited. To assure this would be seamless, Apple temporarily took its iForgot password system off line.

The security problem was a test, not only of Apple's own security but of its systems for reporting on problems, dealing with the media and keeping it all quiet. The fact that this story didn't go far beyond the trade press confirms Apple's success.

The most important thing Apple can do to make itself an institution is to crack the enterprise market. Consumers can change their preferences on a whim, but businesses have to plan for change, and the "bring your own device" concept, with employees now using their iPhones regularly for work, is a beachhead Apple must exploit to make its success permanent.

Apple has been quietly building its enterprise credibility with security, business apps, and an iOS developer program that Apple says is aimed directly at the enterprise. It doesn't get reported in the news, there aren't even press releases on it, but it's vital to Apple's future success that the enterprise beachhead be secured.

All of these quiet steps, launched across a broad front, don't make headlines the way having an entrepreneur standing in front of a room, holding a cool new device shown as "just one more thing," makes headlines.

They're not the kinds of moves a driven market conqueror like Steve Jobs would make. They're the moves a civilizer would make, someone who makes market gains permanent. There have been stories about this since 2011, soon after Cook took over, but they largely went unnoticed because they're just not exciting.

Not exciting to reporters, perhaps. Not exciting to consumers, certainly. But exciting to business, and exciting to investors? They should be.

At the time of publication, the author was long AAPL.

This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.

2 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
AAPL $132.58 1.80%
AMZN $439.44 -1.30%
GOOG $555.10 -1.80%
FB $82.20 0.82%
TSLA $233.75 7.00%


DOW 18,051.88 -28.26 -0.16%
S&P 500 2,114.39 -3.30 -0.16%
NASDAQ 5,073.7190 -18.3660 -0.36%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs