$AAPL Shareholder Meeting, $TSLA Rumors Fail To Boost Stock
Apple CEO Tim Cook must be happy Carl Icahn has turned his attention elsewhere.
Cook addressed Apple shareholders today at its annual meeting. He reportedly confirmed that Apple is working on a new television—though it’s not clear whether this is the new product category he teased during Apple’s earnings call in January.
The news didn’t thrill Apple shareholders. The company is in the red today.
$AAPL stock never fails to disappoint! Down she goes, as perfunctory mgmt doesn't seem to understand how to generate investor enthusiasm.
— Stray Trader (@StrayTrader) Feb. 28 at 01:56 PM
The lack of market-exciting headlines might have fueled calls for the massive share buyback plan recently withdrawn by Carl Icahn. The activist investor dropped his call for Apple to repurchase $50 Billion in shares earlier this month after reevaluating the company’s product roadmap and the amount of shares already in its buyback plan.
The stock’s performance has frustrated cashtaggers. Unlike Tesla, $TSLA, which moves up on a whiff of good news, positive Apple headlines fail to boost the stock.
$AAPL Sickening stock behavior today. I expected Divy increase or comments on what they are doing to make this stock perform solidly
— Alex Prescott (@ProfessorAlex) Feb. 28 at 01:45 PM
Apple had several value-supporting stories today. A judge dismissed a $2.2 Billion patent-infringement suit filed by a German company and Wired published a story claiming Tesla could ultimately make cheaper lithium ion batteries for Apple’s gadgets.
Not all cashtaggers are bashing Cook’s performance, however. Some say Apple is right to tightly control rumors about new products, lest it give competitors ideas.
$AAPL makes a good point. The reason we don't hear to much about new products is because they don't want to give their ideas away to rivals
— Dan Starr (@DanStarr) Feb. 28 at 02:16 PM
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