Just before the U.S. markets opened Monday, with Asia and Europe in free fall, Tim Cook sent a note of reassurance to CNBC’s Jim Cramer. Today, with the markets poised for a rebound, some are calling for an SEC investigation.
The story, as told by the headlines:
Reuters: S&P 500 Index Falls Into Correction Amid Global Equities Rout
New York Times: Apple stock reacts after Tim Cook email praises China sales
Financial Times: Apple leads technology stock recovery amid China fallout
LA Times: Tech stocks see a brief pick-up as Apple says it’s doing well in China
VentureBeat: Tim Cook’s China statement soothes Apple investor freak-out
The Street: Stock Futures Point to Strong Rebound as China Cuts Rates
The Verge: You know the stock market is in trouble when Tim Cook is emailing Jim Cramer
Fortune: Apple CEO Tim Cook may be in trouble with the SEC
“Cook tried to reassure the markets yesterday,” writes Above Avalon’s Neil Cybart. “It turns out he probably ended up reassuring the entire world.”
This never would have happened if Steve Jobs were alive. See: The stock will take care of itself.