Apple has again ceded its title as the world's most valuable company to Exxon Mobil. With Cupertino's recently plummeting stock value, the inevitable rumors about a Tim Cook ouster have begun resurfacing.
Forbes reported earlier on Monday, citing unnamed Wall Street sources, that a secret search was already underway to replace Apple CEO Tim Cook. Facing renewed competition from Samsung and its Galaxy S4 smartphone, Apple stock is trading at a 52-week low as of last Friday. Speculation that Apple could be in dire need of a change in direction is not entirely unfounded.
"The fact is that the market for smartphones has become very commoditized," industry analyst Chris Silva told TechNewsWorld. "Apple is now trying to find their way in a market they no longer own."
But where is Forbes getting its information? According to Fortune, it might be wise to hold off boarding the anti-Tim Cook bandwagon. Apparently, a hedge fund manager named Doug Kass has been indulging a penchant for baseless Apple rumors lately - particularly those pertaining to the companies beleaguered CEO.
"Well, Kass is at it again," writes Fortune. "On Sunday, citing the same 'Gnome' that was the source for his stock split story, he tweeted:
@DougKass: From my Gnome, high above the Alps - "Is Apple's Tim Cook... Cooked?"
Fortune makes the case that the vast majority of recent negative Apple rumors have come from sources with a vested interest in seeing Apple fail. Kass allegedly made a handsome profit the other week by offloading his own Apple stock after tweeting that Cupertino was considering splitting off into multiple companies - a rumor that caused the price of Apple stock to spike. Another Apple naysayer is Rob Enderle, who penned "The Impossible Task of Fixing Apple." Mr. Enderle's day job is that of a consultant to Dell.
