Seeking Alpha

Intuit chairman leaving Apple's board; BlackRock co-founder joining

  • Intuit chairman Bill Campbell is retiring from Apple's (NASDAQ:AAPL) board, and will be replaced by BlackRock co-founder/director Sue Wagner.
  • Campbell, who once worked as Apple's VP or marketing, is the company's longest-serving director, having been on the board for 17 years.
  • The WSJ reported on July 7 Tim Cook has been "actively seeking new directors" for Apple's board. The paper added the 8-person board has 6 directors aged 63 or older (Campbell, 73, is one of them), and is "known for its loyalty" to Steve Jobs.
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Comments (10)
  • bjnflicks
    , contributor
    Comments (3690) | Send Message
     
    This means AAPL now has someone who can stand up to any tricks Wall St has up its sleeve to try and manipulate the stock. And it also means they plan a big global push into all kinds of new markets where they can utilize their mountain of overseas cash to grow the company, including through acquisitions. very interesting.

     

    Wall ST has criticized Apple for hoarding cash overseas and also for not using the cash to stimulate growth. Tim Cook seems to be way ahead of them now. First he gets IBM's immense sales force to basically work for Apple for free. And now he's got an Iron Lady board member whose expertise is in how to grow a global company and defend themselves from Wall St tricks at the same time.

     

    We still don't know who's been dragging down the stock for the past few days despite all the excellent news. Has Carl Icahn bailed? Why would anyone sell into the IBM news right before earnings and a huge new product cycle? Maybe we will never know, maybe we will find out, but whatever happened that and the geopolitical scares have produced a wonderful new buying opportunity. It is practically guaranteed AAPl will soon be selling in the 100's and may even reach 150 within a year. SO to get 4% off before any of that happens if a gift to new investors, though a pain in the ass to current ones. I bought a lot more today. The Ukraine and Gaza have nothing to do with Apple, and the sell off after the IBM news made no sense at all.

     

    Also, as tech investors get more realistic, I think we will see large outflows from overvalued rivals like GOOG, MSFT, INTC and others and into AAPL which is the gold standard for tech now and will soon be ruling the entire top 20% of the mobile and computing worlds, where most of the profits are made.

     

    Tim COok deserves a ton of credit too. He is really on top of things and leaning forward in unexpected ways. I believe there is a reason he renegotiated his contract to be pegged to the stock price, because he knows this is a trillion dollar company, not 550 billion where it is selling now.
    17 Jul 2014, 05:03 PM Reply Like
  • gelstretch
    , contributor
    Comments (2449) | Send Message
     
    Well said bjnflicks.... we now are seeing the magical powers of a creative CEO that has been able to place an emphasis on strategy. Creative abilities are needed within a company, however the creative direction of a large company is needed just as much as the innovative product creation. We are now seeing examples of this new image, with much more to come. The future is what you are able to envision.
    17 Jul 2014, 05:59 PM Reply Like
  • aardvark3
    , contributor
    Comments (554) | Send Message
     
    An excellent choice. The news just keeps getting better.
    17 Jul 2014, 05:05 PM Reply Like
  • steveabramsaaa
    , contributor
    Comment (1) | Send Message
     
    THANK YOU EVERYONE AT APPLE
    17 Jul 2014, 05:17 PM Reply Like
  • marv09
    , contributor
    Comments (292) | Send Message
     
    They have chairmen at the North Pole?
    17 Jul 2014, 05:34 PM Reply Like
  • TRIPLE 777
    , contributor
    Comments (15) | Send Message
     
    TIM CCOK WILL BE BETTER THAN STEVE JOBS IN MANY WAYS.
    17 Jul 2014, 05:45 PM Reply Like
  • Budavar
    , contributor
    Comments (1388) | Send Message
     
    As a former associate member NYSE
    I notice stock manipulation is alive + well.

     

    Text book example on the bull side is AMZN
    and
    on the bear side AAPL.

     

    Tim Cook obviously has no time to pore over the records of AAPL's transfer agent,
    but new arrival Sue Wagner is reportedly well qualified to ferret out any shenanigans.

     

    Smart investing to all!
    17 Jul 2014, 07:17 PM Reply Like
  • judman
    , contributor
    Comments (21) | Send Message
     
    I attended the February 28th Board of Directors Meeting in Cupertino. This news regarding the Board is yet another example of Apple's management on the move in positive directions for the company and the shareholders. I agree with bjnflicks' assessment.
    17 Jul 2014, 07:54 PM Reply Like
  • charleyeyecee
    , contributor
    Comments (25) | Send Message
     
    certainly ,Black Rock has grown their business, and I guess know something about attempted manipulation, but I wonder on the trading patterns the past few days, if last quarter is going to be disappoining in term of sales, penetration into China delays announcing this or that or forward looking commentary below what seems to be very high expectations on this site. Sort of feels like someone of size has a strong opinion to the negative. we'll see? Some of we posters seemed concerned when the analysts spout off. few of them are right or wrong for any given time simply because they have no particular knowledge of whats going on in most of the companies they cover. Aapl may be lower or higher after earnings and commentary, but a year from now I wonder if all of the growth projects being attempted won't give the company a newer more solid base to expand its earnings.I think it will so this daily up or down 2 percent meant to rattle the shaeholder will disappear.

     

    I once ran some sizable portolios and maybe im just an old has been, but, if you like something buy it and if you dont ..sell it ( it clears the biased opinion you may hold), but speculating with numbers from 100 to 150 a share ithis year next etc is just crap. I watch earnings put a multiple on them listen to the conference call, visit the company,,talk to the cfo, I go to the annual meetings and use my gut and my personal knowledge, not an analyst....analist to figure out where I want to be . Im rambling I realize, I just think we are all capable of spending our money better than the joe blow firm, whose analysts and their quartely change of opinion ...what I call,aftercasters mostly are there to make money for their firms not necessarily us.
    18 Jul 2014, 02:35 AM Reply Like
  • brent_vossler
    , contributor
    Comments (179) | Send Message
     
    "Inuit"???? Spell checker running amok.
    18 Jul 2014, 09:26 AM Reply Like
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