Print 32 comment(s) - last by BifurcatedBoat.. on Feb 14 at 3:56 PM

Cook said the board is currently discussing Einhorn's proposal, and even called it "creative"

Apple CEO Tim Cook called David Einhorn's lawsuit against the iPhone maker "a sideshow," citing the number of media and television interviews Einhorn has participated in since it was launched.

Einhorn, an American hedge fund manager, is suing Apple over a proposed change to the company's charter that would throw out Apple's ability to issue blank check preferred stock per its judgment. More specifically, the lawsuit opposes how this charter change is packaged together with two other proposals in "Proposal 2."

Einhorn wants Apple to open up its fat wallet of $137 billion in cash and issue prepetual preferred shares that pay dividends to existing shareholders.

Cook said the board is currently discussing Einhorn's proposal, and even called it "creative." However, Cook has called the lawsuit and the number of media interviews surrounding the topic "a silly sideshow" and said it's "bizarre that we would find ourselves being sued for doing something good for shareholders."

"This is a waste of shareholder money and a distraction and not a seminal issue for Apple," said Cook. "That said, I support Prop 2. I am personally going to vote for it."

Einhorn is the influential investor that pushed for Microsoft CEO Steve Ballmer's resignation back in May 2011. He said Ballmer was key in many of Microsoft's misses at the time, such as puchasing Skype for nearly twice its market valuation and missing the boat when it came to tablets.

Source: Reuters

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RE: LoL?
By elleehswon on 2/13/2013 1:43:27 PM , Rating: 0
iOS this year will outsell Windows and within two years iOS will have an installed base bigger than the Windows installed base.

the bullshit is getting pretty deep in here.

RE: LoL?
By Cheesew1z69 on 2/13/2013 1:48:06 PM , Rating: 2
That's Tony for you, delusions running rampant through his mental head.

RE: LoL?
By Tony Swash on 2/13/2013 3:25:38 PM , Rating: 1
iOS this year will outsell Windows and within two years iOS will have an installed base bigger than the Windows installed base.

the bullshit is getting pretty deep in here.

Let's think about this logically.

Taking the sales data for Microsoft's last big successful OS release, Windows 7, we get first year sales of 240 million (Source: the wikipedia page on Windows 7 - it says released October 2009 and total sales by October 2010 were 240 million). That was of course a release year and in subsequent years the figure probably fell back a bit but let's stick with the 240 million figure. Microsoft has said that Windows 8 sales are on par with Windows 7 sales.

So about 60 million window licenses sold per quarter in a launch year.

Apple sold over 75 million iOS devices last quarter.

iOS devices sales are seasonal but each year sees total sales growth so we can expect the quarterly sales to drop back below 75million in the next couple of quarters and then punch above 75 million in the next holiday season. So it is very likely that Apple will sell around 250 million iOS devices in the next year.

So iOS sales are already equivalent to Windows sales and, because Apple is selling into a very rapidly growing market and Microsoft is selling into a stagnant market, iOS sales will continue to grow and will move above Windows sales sometime in the next year or so.

The Windows installed base is around a billion. iOS already has an installed base of 400 million and 40% of all iPhone sales to date were in the last year so it won't take more than a couple of years of modest sales growth to see Apple reach a billion installed iOS devices after which it overtake the Windows installed base. The potential market for smart phones is so vast that even with slowing growth Apple can coast to a billion installed devices in the next two years.

It's deceptively easy to continue to think that the Windows business is very big but it is not when compared to the mobile device business.

RE: LoL?
By elleehswon on 2/13/2013 9:18:04 PM , Rating: 2
you see, i assumed you made a typo and were comparing osx to windows. I assumed you had a moment of mental clarity to try and compare apples to apples, rather than apples to oranges. so, while we're comparing apples to oranges, my car has more horsepower than my neighbor's cat is happy.

If you tried to pass off ios as a desktop operating system, it would have a smaller install base than dos 3.3 has now.

you are comparing 2 completely different markets..

so, i'll make another comparison.. the number of legos sold in sets and via grab bags ammount to about 19 billion legos. That's how many hundred times more than ios devices sold?

clearly, legos are better than ios devices.

RE: LoL?
By retrospooty on 2/13/2013 9:33:36 PM , Rating: 2
Funny how iOS outselling Windows in one quarter is so important, yet when comparing apples to apples so to speak... Android has been outselling IOS for 2 years and its now 5 to 1 , but that is irrelevant... LOL. What's even funnier is he thinks no one notices how full of it he is.

"I'd be pissed too, but you didn't have to go all Minority Report on his ass!" -- Jon Stewart on police raiding Gizmodo editor Jason Chen's home
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