Apple: Tim Cook Is A Silicon Valley Rock Star (Video)
Tim Cook has earned a spot in Barron’s list of Top 25 CEOs of the year. According to the publication, Apple’s chief officer did a particularly good job in the early stages of the COVID-19 crisis:
“No company was quicker to warn about the financial risks from COVID-19 than Apple. For a time, almost all Apple retail stores around the world were closed. The company saw a surge of orders from its online store, and activity on the App Store has skyrocketed as consumers search for new ways to learn, read, and play."
Being quick to react, when so many world leaders have done the exact opposite, is a badge of honor for the Apple CEO to wear. When employees’ and customers’ health is at stake, it is a good idea to be conservative and act swiftly.
But from a business perspective, I also believe that Tim Cook deserves credit for having prepared the company for 2020 long before the crisis began to unfold. For years, Apple has been transforming from the Mac, iPhone and iPad company of the early 2000s to the tech device and software ecosystem giant that it is today.
Think of Apple’s financial results in the first calendar quarter of 2020. Were the company to rely on its “legacy” portfolio of products, the numbers would have looked concerning (see bottom three bars in the chart above). Thanks to a successful lineup of wearable devices and a services business that continues to gain scale, the first COVID-19 quarter was far from being disastrous.
Certainly, one single person does not deserve full credit for Apple’s recent success. But Tim Cook has definitely contributed quite a bit to it.