Apple CEO Tim Cook is one of the best paid U.S. executives according to a new report. He pulled in a whopping $265 million in 2020 from his salary, bonus, and stock awards.
But that’s chump change compared to what Elon Musk made.
The CEO of Apple reportedly passed a huge milestone: He’s now a billionaire. Tim Cook’s net worth has risen significantly, partially as a result of Apple stock more than doubling in value in the past 12 months.
But Cook is not likely to stay a billionaire. And not for the reason you might think.
If you bought Apple shares on Jan. 9, 2019 then you’ve doubled your money since then. And while Apple certainly had a good year, it’s not done yet.
Analysts are predicting big increases in the share price because of the company’s changing mix of products — it’s not just an iPhone maker any more.
Apple’s stock buybacks in Q1 totaled more than any other S&P 500 company by a wide margin. The iPhone maker poured $23.8 billion into purchasing its own shares, more than it has ever done before. And that’s saying a lot, as Apple been spending billions on buybacks for many years.
If you’ve been thinking about investing in Apple stock, an analyst from Morgan Stanley says this is to time to do so. The price is already low, and not likely to go any lower.
There’s been bad news for Apple recently but that’s already priced into the stock.
Apple stock price has dropped steadily throughout June. That likely bothers short-term investors, but not Tim Cook. Apple’s CEO thinks long-term, and says planning no farther than the next quarterly earnings report is a recipe for disaster.
“If you’re making a decision based on the short term investors, you’re going to be guaranteed to be making terrible decisions,” Cook said yesterday.
Apple stockpiled $252.3 billion overseas, but it’s bringing that money back to America. A market analysts predicts the company will spend $100 billion of it on its stock buyback and dividend program. This will directly benefit those with Apple shares.
The company decided to bring the money home from foreign banks after the new GOP tax law gave companies a limited time for cash repatriations at lower rates, possibly just 8 percent.
Apple hosted its annual shareholders meeting today at the company’s headquarters in Cupertino where a number of new proposals were presented by investors before Tim Cook took questions from the audience.
During his Q&A session, Tim Cook discussed how Apple plans to fight for net neutrality. He also assured shareholders that Apple plans to come out with new products that appeal to professionals and creatives, but insisted that the Mac and iPad aren’t destined for a merger.
Apple’s stock continued its historic rise today by setting a new all-time intraday high before closing at its highest price ever.
It’s a great time to be an Apple shareholder.
Aided by a increased confidence rating from Goldman Sachs, Apple shares hit an all-time high today, with the price jumping to $133.76 per share before closing just above the company’s previous record of $132.54, set on May 17, 2015.
