Apple Lost its identity Worlds Most Valuable Company
Today Apple could not really celebrate mac's 28th birthday since investors hammered the company's stock.
Apple reported on Wednesday Jan.23, 2013, posting a profit of $13.1 billion and selling 28 percent more iPhones and 48 percent more iPads, its two biggest products. However, that was not enough to counterbalance concerns about slow profit growth that have contributed to the narrative that Apple has lost its edge.
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According to San Francisco Chronicle, the firms stock opened below $500 again and continued to fall as investors penalized the company for missing exciting analyst expectations for the holiday quarter and losing its status as the world's most valuable company. At Thursday's close, it was worth $423 billion, just 1.6 percent more than No. 2 Exxon Mobil Corp.
The stock was down over 10 percent Thursday, with $450 per share.
In the past, many books and articles revealed late Jobs as God-like "Boss", who always was the best and manufactured the "best".
Many investors expect perfection from Apple and nothing below that.
However, after Tim Cook took over Apple as the new CEO, he has not quite hit the same level of iconic status as his predecessor.
Apple's rivals like Google and Samsung are giving it a tough competition. Apple is ending up into lower profit margins by forging into cheaper product categories.
At present Apple is facing various challenges despite of its most innovative nature in the technology world.
Earlier, Steve Jobs reportedly told President Obama "the jobs aren't coming back", when asked at a dinner in early 2011 whether Apple would consider moving some of its manufacturing from China to the United States, according to Bloomberg Business Week. However, recently Steve Jobs' successor might have a softer response for Obama: Yes, we can.
"Cook is a gentler being in terms of how he projects himself," says Carolina Milanesi, a Gartner analyst. For her, that is partly of necessity.
"Few people would tolerate Jobs-like arrogance in a new CEO - but it is also a reflection of Cook's personality," she added, according to the source.
As the largest company in the world, Apple has become a symbol of corporate power and abuse.
To many Apple fans, Cook is simply the person that is able to rein in Apple's executives and handle the company's many moving parts. Cook is not a visionary to many Apple fans; he is the typical chief executive.
However, at present, one bright spot in Apple's earnings report was news out of China, which Cook expects will soon become the company's top market. The company, reflecting that expectation, has even broken out "Greater China" as its own operating segment in its breakdown of global sales. The region includes mainland China, Hong Kong and Taiwan.
According to San Francisco Chronicle, Bryan Wang, an analyst with Forrester said that Apple has a lot of room for growth in China, particularly if it strikes a deal with the country's largest carrier, China Mobile.
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