malachiman
macrumors regular
It's a good time to cash out. He knows with Steve gone, Apple can only go down in the long run and they're already massively over-valued as it is. They were $83 a share just a few years ago. Over $450 a share? Come on. It would be stupid to invest at that price (and yes there are people at work I know buying it because someone told them it was a $500 stock...yes it might hit $500 for awhile, but gaining $50 isn't worth the risk of it dropping hundreds like it did a few years ago when it went from around $300 to $83 almost overnight). And this time it will NOT come back because Apple is now run by the same types that destroyed it the first time around. Apple has a few more years of profitability based on current products like the iPhone and iPad, but without a visionary to keep the products coming, it's only a matter of time and the stock will start slipping LONG before the profits end (and you don't make a dime when it drops...you lose your shirt and everything else you put into it). Clearly, Bob Mansfield is fully aware of this as the hardware chief and he's taking it to the bank. Kudos to Bob.![]()
You realise that Steve J was not apple right?
Any good leader will create a culture that will out live them, and will develop and empower leaders who will run further than they did. To run further and make Steves ceiling their floor demands change. Steve J didnt come up with all the products himself (I am in no way detracting from what he has done and his vision for Apple)
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If he believes in the company and don't urgently needs the money, this is a wrong move. This is a vote of no confidence for the company.
What does urgency have to do with it? He might want to invest in other business, develop a property portfolio, or what ever. A vote of no confidence would be to resign.