Apple CEO Tim Cook Downplays $1 Trillion Valuation In Company Memo

Apple CEO Tim Cook downplayed the company's $1 trillion market valuation. Cook waves as he arrives on stage during an Apple Special Event on at Bill Graham Civic Auditorium September 9, 2015 in San Francisco, California. Photo: Stephen Lam/ Getty Images

By Alex Perry, International Business Times

On Thursday, Apple became the first company in the history of the United States to get a $1 trillion valuation on the stock market. The history-making development, of course, prompted a company response from CEO Tim Cook. However, in a memo sent to Apple employees, Cook downplayed the accomplishment.

The memo was obtained by CNBC and published in full there. In it, Cook thanked the company’s over 120,000 workers for their contributions to its record market valuation but said delivering high-quality products to consumers is more important than financial success.

“It's you, our team, that makes Apple great and our success is due to your hard work, dedication and passion. I am deeply humbled by what you do, and it's the privilege of a lifetime to work alongside you. I want to thank you from the bottom of my heart for all the late hours and extra trips, all the times you refuse to settle for anything less than excellence in our work together.

[post_ads_2]Let's take this moment to thank our customers, our suppliers and business partners, the Apple developer community, our coworkers and all those who came before us at this remarkable company.”

Cook also referenced the late Steve Jobs’s work with Apple. Jobs was, at one point, forced out of Apple before returning in 1997. Under his watch, Apple went from a mere computer company to a smartphone giant.

Apple’s new market valuation came after the company beat expectations with its third-quarter earnings report. Other tech companies like Facebook and Twitter tanked on the stock market after their earnings reports last week. Those companies rely on stats like daily and monthly average users to instill confidence in investors; when those numbers are stagnant, investors run away.

Apple, on the other hand, has a profitable hardware business to keep it afloat. The iPhone business is supplemented by Apple’s iPad tablets, Apple Watches, and personal computers. The company also generates some income from services like Apple Music.

It was a good week for Apple, overall. Apple (AAPL) share prices have risen by $10 over the past five days.

COMMENTS





Name

Business,743,Careers & Education,3,Investing,14,Markets,10,Money,4,Personal Finance,4,Real Estate,4,Small Business,15,
ltr
item
Business - U.S. Daily News: Apple CEO Tim Cook Downplays $1 Trillion Valuation In Company Memo
Apple CEO Tim Cook Downplays $1 Trillion Valuation In Company Memo
https://3.bp.blogspot.com/-_JKJ2bUA1c4/W2aR8euJ7RI/AAAAAAAA3MY/BdUge1AEUpYVNgIgzkReD71ndzycamj_ACLcBGAs/s1600/3.jpg
https://3.bp.blogspot.com/-_JKJ2bUA1c4/W2aR8euJ7RI/AAAAAAAA3MY/BdUge1AEUpYVNgIgzkReD71ndzycamj_ACLcBGAs/s72-c/3.jpg
Business - U.S. Daily News
https://business.dailynews.us.com/2018/08/apple-ceo-tim-cook-downplays-1-trillion.html
https://business.dailynews.us.com/
https://business.dailynews.us.com/
https://business.dailynews.us.com/2018/08/apple-ceo-tim-cook-downplays-1-trillion.html
true
8288295252483019008
UTF-8
Loaded All Posts Not found any posts VIEW ALL Read More Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS PREMIUM CONTENT IS LOCKED STEP 1: Share. STEP 2: Click the link you shared to unlock Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy