Is Apple (AAPL) Being Run by a Bunch of Bozos?

A "bozo explosion," which the late, great Steve Jobs warned about years ago, is occurring at Apple (NASDAQ: AAPL), according to Global Equities Research analyst Trip Chowdhry.

"One bozo gets another bozo. Soon, you’re surrounded by bozos. This is called a bozo explosion," - Steven Jobs

Chowdhry believes that Tim Cook and the rise of Bozo Culture at Apple has destroyed $486 billion of potential shareholder value.

Apple needs to take the following aggressive action to save itself, according to Chowdhry:

• Apple urgently needs to institute a "No Bozo Policy"
• Investors are increasingly getting concerned about "Bozo Explosion" at Apple:
  • Apple needs a new CEO: Jonathan Rubinstein, the father of iMac and iPod, Board Member of Amazon.com and a close associate of Steve Jobs
    • Tim Cook can go back to his Operations role
    • Jeff Williams can go back to his Procurement role
  • Apple needs a new CFO: Fred Anderson, he was CFO during Apple's resurrection under Steve Jobs
    • Luca Maestri can go back to his Accountant role
  • Apple does not need Angela Ahrendts, completely clueless for an "At-Scale" job, a misfit for a role at Apple

Chowdhry highlights that under Tim Cook and Luca Maestri, Apple's stock has been trading well below even the PE multiples of Toilet Cleaning company Clorox (CLX).

"Instead of focusing on PE Expansion of Apple, which currently is 1/2 the PE market multiple of S&P500 and is costing investors more than $480 Billion of potential shareholder value destruction, Cook has been foolishly arguing with Charlie Rose over $40 Billion in taxes on 60 minutes," he commented.

He added, "Investors would reward the CEO and CFO for focusing on PE expansion, which is costing shareholders more than $480 Billion rather than Tim Cook focusing on $40 Billion in taxes, and destroying the once pristine Apple balance sheet, by taking more than $64 Billion in Debt."

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