For many years, analysts at various financial institutions and Wall Street have praised Apple’s success. However in more recent times, that tone has changed somewhat where more than a few are starting to doubt Apple’s future. This is largely due to iPhone sales which aren’t doing as well as they used to be.There are several theories as to why this is, but in an interview with CNBC, Apple’s CEO Tim Cook believes that the company is being underappreciated by Wall Street. Speaking to Jim Cramer, Cook addressed some of the concerns that investors and critics seemed to have about Apple.
According to Cook, “I’m not defensive on it. This is America and you can say what you want. But … my honest opinion is that there is a culture of innovation in Apple and that culture of innovation combined with these incredible, loyal customers, happy customers, this ecosystem, this virtuous ecosystem, is something that is probably underappreciated.”
Cook had recently acknowledged that the iPhone sales are weaker than they had expected and as a result the company had to slash their revenue estimates. It was suggested that the trade war with China could have been one of the reasons, but it was also reported that the $29 battery replacement program could have also played a role in slowing down upgrades.
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