News/Rumors

Apple to fire CEO Tim Cook?

Members of the Board of Directors is rumored to be secretly searching for a new CEO of Apple,Tim Cook, which was succeeded by Steve Jobs in 2011. Now Wall Street sources close to some Apple executives have indicated that the company is secretly trying to find a replacment for CEO Cook. According to the publication, the board of directors in Cupertino was allegedly pushed to the decision by the continuing stock price depreciation.
Shares of Apple last week fell below the psychological mark of $ 400 – to a level of $ 391.96. At the moment, shares of the iPhone’s manufacture are traded at $ 390.54 per share.
To date, Apple’s market capitalization is estimated at $ 368 billion. Thus, the company ceded the title of the most valuable corporation in the world – leadership was returned to the oil giant Exxon Mobil, which is estimated at $ 388.1 billion. In just six months, the market value of Apple, runned by Tim Cook, fell down by the $ 290 billion.

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Nevertheless, analysts are positive about the future of the company and recommend buying its shares. Thus, there is a hope for a return to growth. As a positive factor there is a high demand for the iPhone and iPad. Many also expect Apple to announce new and innovative products. According to the rumors, Apple is preparing a “smart” watch, iPhone 5S with a fingerprint reader, iPad mini 2, MacBook Air laptops with Retina display, and more.

Lets hope to hear some impressive sales numbers or some dramatic new tech announcement as that is what will either cement Cook’s position in the company or pave way for his exist.

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