This comes as a shock to many people in the tech industry. It is being reported by Forbes that the Cupertino based tech giant, Apple, is working on replacing the CEO of the company, Tim Cook. The online publication says that some Wall Street sources who are close to some of the Apple executives have reported such a move. But it is no surprise that there is no proof of this yet. And if no activity of this kind is going on, some of the stakeholders of the company say that this should happen.
All this is due to the fact that the Cupertino based iPhone maker has reached a new 52 week low stock value of $390 per share (as on April 19th, 2013) from a trading high of $702. And this gradual melt down of the stock value has started since October, 2011, when Tim Cook replaced the most powerful CEO the company has seen, Steve Jobs.
According to some of the analysts from major security firms, Apple’s stocks have come down to be rated as “moderate buy”, and some still believe it as a “strong buy.” Forbes writes, “Of the 37 analysts from major securities firms who follow Apple, none has downgraded the stock to a sell, according to available data from MSN.com.”
“We expect Apple’s growth to exceed that of many of its peers,” says Scott Kessler, analyst at S&P IQ, one of those who rates the stock as a strong buy. Considering Apple’s substantial cash position, “we see the stock as a compelling value,” he adds. And he believes sales of iPhones and iPads “will continue to grow at a healthy pace through 2015, despite macroeconomic and competitive threats.”
Anyway, I do not believe that any info on this will leak from the brass heads of the company, even if they are looking for a new CEO to replace Tim Cook with. We will just have to wait for the company to announce this officially, or will have to base all our believes in rumors like this one.