Tim Cook rumors affect Apple, HP stock
Late yesterday morning, a rumor hit the the Internet suggesting that Apple's COO Tim Cook was going to leave the company to become HP's CEO. As a result, Apple's stock took a dip while HP's showed a sudden spike.In morning trading, Apple's stock fell nearly US$17 (or 5%), while HP's rose by more than $0.40 (over 1%). Clearly, investors like Tim Cook, and they saw his rumored departure as detrimental to Apple and a win for HP. Fortunately for Cupertino, it's not true.
Cook quickly denied the rumor, saying that he "...loves Apple" and is not going to HP. In January of this year, there was a rumor that Cook would become the CEO of GM, which also turned out to be false.
You'll remember that Cook took over as interim CEO during Steve Jobs' medical leave of absence in early 2009. The company successfully released several new products with Cook at the top, and many believe that he's in the running to eventually take over for Jobs.
[Via The Mac Observer]
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Late yesterday morning, a rumor hit the the Internet suggesting that Apple's COO Tim Cook was going to leave the company to become HP's...
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I wonder what they're talking about?
September 30 2010 at 1:03 AM Report abuse Permalink rate up rate down ReplyThe stock didn't drop because of the rumor, it dropped because of the market.
September 29 2010 at 11:25 PM Report abuse Permalink rate up rate down ReplyHas anybody else noticed that in this photo, as well as countless hundreds that show Jobs with a coffee mug, he never has a fancy "I
September 29 2010 at 10:44 PM Report abuse Permalink rate up rate down ReplySorry HP, no Cook for you.
However, Mr. Papermaster is free to talk.
Numbers come from right here where it says $17. http://www.macobserver.com/tmo/article/rumor_that_hp_wants_apples_tim_cook_gooses_stocks/
September 29 2010 at 2:33 PM Report abuse Permalink rate up rate down ReplyNice to see that both TUAW and MacObserver are both wrong and that one of the sites is copying from the other.
September 29 2010 at 5:16 PM Report abuse Permalink rate up rate down ReplyI'm glad to see they have a wax version of Tim Cook ready to step in. Steve is really admiring the artisanship in this photo.
Bryan: yeah, looks like AAPL was down $7 in morning trading, not seventeen. TUAW needs some remedial math classes.
Apple's stock didn't dip $17 today. Where are you getting your numbers?
September 29 2010 at 12:49 PM Report abuse Permalink rate up rate down ReplyHere's a reference to a $17 drop during the opening minutes of trading yesterday:
http://tech.fortune.cnn.com/2010/09/28/aapls-bizzare-opening/
He isn't leaving for HP. Not when he's been told he will eventually take the reigns of Apple. Who wants to switch to a company that is less powerful and has a much more broad business model.
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TUAW (or The Unofficial Apple Weblog) is a website devoted to tips, reviews, news, analysis and opinion on everything Apple.
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