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AAPL Stock: 95.6 ( -2.55 )

Printed from http://www.macnn.com

Jobs urges investors to "hang in there"

updated 05:40 pm EST, Mon January 28, 2008

Jobs' letter to investors

Apple CEO Steve Jobs acknowledged the current instability of the company's stocks, but urged investors to remain confident due to Apple's current and future strengths. In a letter obtained by AppleInsider, Jobs points out that the company has over $18 billion in cash reserves, as well as a lack of debt, and over 200 retail locations. In addition, he mentions that Apple's staff, focused strategy, and new product lines are indicative of having much room to grow.

Jobs also mentions that Apple is doing better than many other companies in the high tech sector. "As you can see, we have outperformed many other blue-chip tech companies, including Google," he writes in the letter.

He summarizes that those with patience will see a positive return. "I believe that investors who stay with us will be rewarded as the market's confidence is restored over time," he wrote. "Hang in there."


Chart courtesy of AppleInsider




by MacNN Staff

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Comments

  1. zl9600

    Joined: Dec 1969

    0

    why not buy the shares?

    Anytime a CEO puts out memos like these after their stock has been literally hammered into the ground, I always ask: "Why not buy the shares back, Mr. CEO?"

    That would be the ultimate show of confidence, and investors would react. Alas, Apple insiders have sold shares like crazy.

    I'm a HUGE Apple fan, and have been surprised myself, but I'm staying away from this stock until the volatility passes.

    How about it, Steve? Not like you're spending money updating my MacBook Pro or iPhone software...

  1. gskibum3

    Joined: Dec 1969

    0

    zl9600

    Where do you get the notion that he isn't buying shares? Would those transactions be reported all over the Mac news sites? Or are they private transactions?

  1. ZinkDifferent

    Joined: Dec 1969

    0

    zl9600

    well, since Apple's not doing much, according to you, I'll take those shares off your hand.

    I'm always amazed at dumb-asses like that who seem to feel that Apple is not doing anything, because they aren't shouting out what they are doing.

    In case you didn't pay attention , they just updated the iPhone software two weeks ago, and what you see in the MacBook Air is what you will see trickling duen into Macbook and Macbook Pro during the next refresh. Its pretty obvious if you're not an idiot.

  1. ender

    Joined: Dec 1969

    0

    managing stock price

    There are probably all kinds of things Apple could do to prop up it's stock price (buy back, pre-announce future products, etc); but I'd much rather have them focus on what they do best. I've worked for a company whose Mission Statement doesn't once mention the customer. It states that their ONLY concern is "delivering value to shareholders." In an article many years ago (in Fortune, I think) Steve Jobs made a statement along the lines of too many companies spend too much time managing share value instead of building companies.

    The stock market is always going to be irrational in the short term. Hopefully Apple focuses on their long term business strategies...the stock price will follow, as it should, behind that.

  1. Guest

    Joined: Dec 1969

    0

    google is down too.

    time to buy buy buy!

  1. climacs

    Joined: Dec 1969

    0

    interesting

    that Jobs would have to make a statement in support of AAPL (stock, not stocks! I am not aware that there is more than one class of Apple stock!). He hasn't had to do that for some time.

    I purchased 40 @ $130 and I bet before year's end it will pass $200 again. Now is the time to buy, folks. Instability is what you want, if you believe in a company's long-term or even medium-term prospects. Instability gives you the chance to buy a stock at a (irrational) discount.

  1. psdenno

    Joined: Dec 1969

    0

    The tone of Jobs' message

    does sound a little over reassuring - like the Captain of the Titanic making sure the deck chairs were arranged in an orderly fashion as the ship was sinking. That said, I'm willing to ride out the stock correction period and hold onto my current shares that have a $6 cost basis. I still have some wiggle room. Not sure that I'm quite ready to buy more at the moment, however.

  1. chucker

    Joined: Dec 1969

    0

    re: psdenno

    the tone of jobs' message does sound a little over reassuring

    That's because he knows Huckabee is gonna win the election, and we are all gonna go (ironically) to h***...

  1. rtbarry

    Joined: Dec 1969

    0

    lol

    @ idiots who panic during market fluctuations and sell low. that's when you buy. thank you for selling me your shares.

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