Apple (AAPL) CEO Cook, CFO Maestri Should be Replaced - Global Equities
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Apple Inc. (Nasdaq: AAPL) shares are lower as Global Equities takes a firm stance on the company.
Analyst Trip Chowdhry commented over the weekend that Apple continues to do the same thing over and over again, expecting different results in the process. This has become the definition of insanity, according to Albert Einstein.
Apple has spent $110 billion on share repurchases and $43 billion on dividends, while debt has risen to over $63 billion. P/E multiples have contracted to 11.5 times, potential costing investors $480 billion when compared with the S&P 500 P/E multiple of 20.5 times.
Chowdhry is calling for the replacement of CEO Tim Cook and CFO Luca Maestri, with Jon Rubinstein moving in as CEO and Fred Anderson as CFO. The analyst commented:
- Tim Cook is not CEO material, he is an operations person
- Apple CEO Tim Cook, teleported himself to Europe on January 21st, 2016, to save $8 Billion Tax for Apple's shareholders: Ref: http://9to5mac.com/2016/01/21/apple-tim-cook-eu-tax-bill/
- Ironically, Tim Cook seems more interested in saving $8 Billion in taxes rather than $198 billion lost by shareholders since July' 2016
- When Apple's stock fell from $134 to $130, at that time alone shareholders lost $22 Billion ...where was Tim Cook, ask investors
- Apple CEO and CFO burnt through $153 billion in share buybacks and dividends.
- For $153 billion, Apple could have acquired BMW + Tesla + eHang...
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