Apple CEO Tim Cook said today at the meeting of the electronics giant annual shareholders he knows that people are unhappy with the collapse of stock. "I do not like it either," Cook said. Neither the Board and management, he added.
But what investors are probably still wondering what Apple is going to do about it. Shares fell about 35 percent from their peak in September, and we do not know what might motivate another run higher. Many investors have become concerned about the increased competition from the likes of Samsung and others, and certain shareholders, such as David Einhorn, Apple demanded that return more money to investors.
Cook today says the company is focused on the long term and make the best products. He noted that Apple is working harder than ever and "has some great stuff to come."
Apple shares recently slipped 1 percent to $ 444.29 as investors await more news of the shareholders' meeting.
