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Former Apple CEO John Sculley: Apple is well-run
Apple (NASDAQ: AAPL) has had a wild ride in 2012. After gaining over 74% on the year to touch an all-time high of $705.07, shares of the tech giant have fallen on fears of a disappointing first quarter financials, the looming fiscal cliff, a rather embarrassing Maps fiasco, and a shakeup in upper management. Now, the Cupertino bears will also argue that long-term worries about Apple include: (1) Tim Cook's inability to be exactly like Steve Jobs, (2) departure from tried-and-true strategy with the iPad Mini, (3) strategic partners -- such as China Mobile -- unwillingness to settle for Apple-sided deals of yesteryear, and (4) a general lack of innovative products on the horizon.
As we've recently discussed, one of Jim Cramer's favorite Apple analyses came via Darrell Etherington on the Washington Post, that poked a hole quite nicely in the majority of these fears. Most notably was Etherington's assertion that Tim Cook should be considered to be on par with Steve Jobs in terms of innovation, the only difference being that Jobs's successor has a bit better grasp on supply chain creativity than product design.
Interestingly, another former Apple CEO was recently on CNBC discussing the state of the company's shares, John Sculley. Sculley was originally made chairman of Apple in 1983, and between 1985 and 1993, he managed day-to-day operations while Steve Jobs was away at NeXT. On the current situation Apple is in, Sculley had this to say: