Apple shareholders concerned about stock, CEO says no worries

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On behalf of Daniel Watkins of Watkins Firm, A Professional Corporation posted on Friday, March 15, 2013.

For years Apple stock prices have soared. The company has remained at the top of the miniaturized electronics market with the continual popularity of the “everything i” products, including the iPod, iPad and iPhone. However, lately the stock has shown serious signs of lagging, and it has shareholders very worried about the company’s future.

The shareholders’ concern is based on some very real numbers. It was only five months ago that the stock was priced at $705.07 per share. That number has plummeted by approximately 37 percent. Those numbers may not yield a very clear picture, but once you add up the number of shares and look at the lost value, it amounts to an approximately $240 billion difference.

The annual meeting with shareholders was recently held at the company’s headquarters located in Cupertino, California. Chief executive officer Tim Cook addressed the concerns of the shareholders, ensuring that the future of the company is more than secure. He hinted at a variety of new products that would expand the company’s reach into a wider variety of markets.

One new market and new products to sell in it include television. Apple TV has already been introduced, but there are rumors that this could be developed significantly further. The rumors will probably remain rumors as Apple sticks to its policy of privacy. The company’s process for product development includes completely confidentiality until they decide what information will be released. Even with the secrecy, the CEO promised that shareholders would see improvement, but that improvement wasn’t the next day – when the stock fell another $4.40.

Source: CBS Sacramento, “Apple CEO To Shareholders: We Are Working On Some ‘Great Stuff,'” Feb. 27, 2013