This Day On The Street
Continue to site
ADVERTISEMENT
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, Not Apple, Is Hated

It's not Apple, the company, or AAPL, the stock, that's hated. Rather, the full force of Cramer should come down on Tim Cook. He's the one who is "hated" (of course, I think I can speak for Jim when I say, we use the term "hated" in the colloquial sense). Cook needs to hear that he's "hated" -- that he's the problem -- not the otherworldly entity Apple. He's the reason why AAPL has needlessly become a battleground stock.

Tim Cook makes the choice to speak to Carl Icahn. Whether he's making that choice directly or on the advisement of fellow executives or the Apple Board of Directors, the buck stops with him. Even against the wishes of the board, Cook could have halted the now-constant pressure from billionaire bench-sitters such as Icahn and David Einhorn by putting them in their proper place from day one. But he didn't. Because, despite his attempts to portray himself as such, he's just not a strong CEO.

And now, at least to some extent, Apple's eye is off of the ball.

While the company should be 100% hyper-focused on its pipeline, crushing another category and possibly making a major acquisition (though I don't necessarily endorse that), it's bothering, on some level, with all of this pointless buyback talk at the behest of a man who has one person's interest in mind -- his own.

Hopeful alternative scenario: Cook is head faking us all. After breaking bread with Icahn, Cook hasn't thought about the guy since, other than to publicly pacify him because stomping him out just isn't his style. But, based on Cook's history with Einhorn (who won big!), my optimism is likely misplaced.

Apple doesn't require buybacks or earth-shaking acquisitions to make its stock run. Investors want a Tim Cook -- or another CEO -- they can have complete and unwavering confidence in. If Steve Jobs before Cook and Howard Schultz and Jeff Bezos in the present day don't provide ample support for that statement, I'm not sure what will.

-- Written by Rocco Pendola in Santa Monica, Calif.
Rocco Pendola is a columnist and TheStreet's Director of Social Media. Pendola makes frequent appearances on national television networks such as CNN and CNBC as well as TheStreet TV. Whenever possible, Pendola uses hockey, Springsteen or Southern California references in his work. He lives in Santa Monica.
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
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
AAPL $125.42 0.72%
FB $85.76 -0.04%
GOOG $520.51 -0.19%
TSLA $268.26 2.38%
YHOO $39.29 0.98%

Markets

DOW 17,619.51 +23.16 0.13%
S&P 500 2,063.12 +5.48 0.27%
NASDAQ 4,986.8670 +28.3990 0.57%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs