Apple’s value has dropped below Exxon’s to roughly $414 billion/€307 billion vs. the oil company’s $417 billion/€309 billion. In other words, Apple is no longer the most valuable publicly traded company out there.
That’s ok, though. As Tim Cook himself said, “We only want to make the best products,” as opposed to being obsessed with market share. “We’re focused on making products that enrich lives,” the Apple CEO has been quoted as saying recently.
It doesn’t matter that Apple has just posted the most profitable quarter in the history of any company on this planed either. Investors are dissatisfied.
Which brings to mind an interesting comment made by Dan Pallotta, a Harvard Business Review contributor, who recently noted on television that “Short term expectations for Apple are so high that people are hallucinating, they’re missing the big picture.”
The people that Pallota is talking about are, of course, Wall Street’s finest. If you want in on the big picture as well, check out Pallotta’s video interview on CNBC. You might actually consider becoming a trader with this knowledge.