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Monday, 22 April 2013 11:18

Apple might be looking for a replacement CEO

Written by Peter Scott

Cook gets the blame for everything

Apple’s tumbling stock price seems to be raising quite a few eyebrows on Wall Street and now it seems that the company might be looking for a new CEO to replace Tim Cook.

According to Forbes, Wall Street sources are convinced that the search is on, but there is still no concrete evidence. Late last week Apple shares briefly plummeted to just over $390, setting a new 52-week low. Small wonder then that the company might be looking for new leadership.

However, why replace Cook? Apple is in a quiet period and it will be a few months before we see anything new out of Cupertino, and that’s just a couple of refreshes. Smart TVs and smart watches might be coming later this year, or next year. Aside from Apple’s underperforming stock, is there any reason to oust Cook?

Granted, there were a couple of issues here and there, i.e. the Apple Maps debacle, but on the whole we don’t see too many sins associated with Cook. The iPhone 5 was not a revolutionary device, but it is still one of the best selling phones on the market. The iPad mini, which we still hate unlike its bigger sibling, featured an underwhelming spec, but it soon became a runaway success. Apple is apparently gearing up to introduce another cheaper product, in the form of an inexpensive iPhone for emerging markets.

Cook had some big and unrealistic expectations to live up to. He is no Steve Jobs, but he performed admirably. It is hardly his fault that Apple was overhyped for ages and that analysts issued insanely optimistic forecasts last year.

Peter Scott

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