Kate on the new era at Apple Inc.
Instead of launching market disruptive products that came often in the Steve Jobs era, Tim Cook’s Apple spent many tens of billions on stock buyback programs and shareholder dividends, neither of which are beneficial to the company’s well being, but instead placate the nattering nabobs of negativism which populate Wall Street; all for a higher stock price (executives at the company love the higher stock price because Apple uses it as compensation).
Apple co-founder Steve Jobs in 1995:
Instead of following the original trajectory of the original vision, which was to make the thing an appliance and get this out there to as many people as possible, they went for profits. They made outlandish profits for about four years… What that cost them was their future. What they should have been doing is making rational profits and going for market share.
Apple is addicted to high profits.