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02-11-2013, 10:47 PM #1
Tim Cook to Speak at Upcoming Goldman Sachs Tech Conference
Apple CEO, Tim Cook, is set to speak at the Goldman Sach’s tech conference, speaking as the U.S. stock market opens for trading rather than during his initially-scheduled slot following market close. The shift was made public recently in an update to the investment bank’s official agenda for the San Francisco, California based conference. Cook is now slated to speak at 7:15 AM PT (10:15 AM ET) rather than the previously scheduled 1:15 PM PT (4:15 PM ET) slot that would see his comments arrive during after hours trading on Tuesday.
Apple employees typically tend not to make material announcements during their appearances at non-Apple sponsored events, but the last minute scheduling change places Cook’s comments in the early morning trading session and will undoubtedly raise the eyebrows of many industry watchers. Apple watchers have generally become accustomed to a pattern where Apple disclosures early in the day and week generally translate to positive news while those later in the week or after market have a higher risk of presenting downside for investors.
Much like last year, Cook’s presentation at the Goldman conference comes just days before Apple’s annual shareholder meeting, a forum which has historically produced a bit more color on the company’s ambitions and thinking than third-party keynote address. This year, Apple and Cook find themselves under increased scrutiny from their investment community, which collectively lost tens of billions of dollars in equity on the back of lackluster first quarter results, which were released last month.
After Apple’s iPhone business is seemingly becoming vulnerable to the likes of Samsung and its own smartphone portfolio, analysts are now more than ever unified in their appeals for additional transparency on the direction the company plans to stem the encroachment and continue to grow the segment worldwide. Additionally, analysts and investors seem to be frustrated with Apple’s use of capital amid the increase in competition.
Much like last year, Apple will provide an audio stream of Cook’s keynote speech through its investor website.
Source: PC Magazine