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Jim Cramer Was Shocked By Apple (AAPL) CEO's Departure [Yahoo! Finance]
Last apple inc. earnings: 4/30 04:30 pm
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US:NASDAQ Investor Relations: investor.apple.com
Consumer electronics giant Apple Inc. (NASDAQ:AAPL) created quite a bit of a splash yesterday after it announced that CEO Tim Cook would be stepping down from his role. Cook, who took over from the firm's renowned founder Steve Jobs, saw Apple Inc. (NASDAQ:AAPL) become one of the most valuable companies in the world. Bernstein discussed the firm on March 18th as it kept an Outperform rating and a $340 share price target for the company. It remarked that Apple Inc. (NASDAQ:AAPL) was currently expanding its product portfolio to cater to the needs of the lower end bracket as well. To wit, the firm's incoming CEO, John Ternus, is currently the senior vice president of Hardware Engineering. Cramer has been one of Apple Inc. (NASDAQ:AAPL) ‘s strongest defenders and has repeatedly asserted that it is better to own the shares rather than to trade them. The CNBC TV host also praised current CEO Tim Cook after visiting Apple Inc. (NASDAQ:AAPL) supplier Corning's factory in Kentucky last year.
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