Tim Cook wants everyone to chill just a bit.
In a memo sent to employees and obtained by Reuters, Apple CEO said it’s alright to be proud of the company reaching a $1 trillion market capitalization, but pointed out it was “not the most important measure” of success.
“Financial returns are simply the result of Apple’s innovation, putting our products and customers first, and always staying true to our values,” Cook wrote.
Cook is correct in his assessment that market cap alone is not the best measure of success — all one needs to do is read up on Petrochina, the Chinese oil giant that reached a $1 trillion market cap in 2007, only to lose nearly four fifths of its value by the end of next year. But Apple’s success did not come overnight; it’s a testament to the company’s ability to continuously beat analysts’ predictions and turn a profit, quarter after quarter, year after year. Read more…
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Author: Stan Schroeder
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