Tim Cook is No Steve Jobs, Jobs' Ex-Publicist Says
*By Chloe Aiello*
Tim Cook is an excellent steward of Apple, but he's no Steve Jobs ー and what Apple really needs right now, is innovation, said Andy Cunningham, who worked with Jobs to launch the Macintosh.
"Tim Cook is an amazing steward of the assets he was left ... however, they have not been able to come up with the next big thing, which is really what they have to do. And Steve did it over and over and over and over again," Cunningham told Cheddar on Thursday.
Apple ($AAPL) stock plunged 9 percent on Thursday, continuing its declines from Wednesday for its lowest stock pricing since July 2017. The losses followed a letter Tim Cook wrote to investors on Wednesday, adjusting Apple's first-quarter revenue guidance down significantly to $84 billion from a previous estimate of $89 billion to $93 billion. The new outlook is about 5 percent less than the $88.3 billion in revenue it reported the same quarter last year.
[In the letter](https://www.apple.com/newsroom/2019/01/letter-from-tim-cook-to-apple-investors/), Cook mostly attributes the revision to "the magnitude of the economic deceleration" in emerging markets, especially China.
"Most of our revenue shortfall to our guidance, and over 100 percent of our year-over-year worldwide revenue decline, occurred in Greater China across iPhone, Mac and iPad," Cook wrote in the note, adding that lower than anticipated iPhone revenue "accounts for all of our revenue shortfall to our guidance and for much more than our entire year-over-year revenue decline."
The company has now lost about $420 billion from previous all-time highs, dropping it into place as the fourth largest publicly traded company, behind Microsoft ($MSFT), Amazon ($AMZN) and Alphabet ($GOOGL).
Although Cook blamed China and its decelerating economy, Cunningham said it's all really about iPhone sales.
"Apple missed on its iPhone and I think that's the real issue here," Cunningham said. "They blame the Chinese economy, primarily for the sluggish sales of the iPhone, but really I think underneath that issue is, I think, the fact that Apple really is in need of its next big thing."
Despite the company's sizable cash horde, Apple prefers to invent in-house rather than acquire new products, Cunningham said, so what the company really needs is "a product visionary," like Jobs, to explore new ideas. Barring that, the company could be in trouble.
" I think we are starting to see ー this may be an omen ー but we are starting to see the beginning of the last days of its heyday," Cunningham said.
For full interview [click here](https://cheddar.com/videos/member-of-macintosh-launch-team-talks-apple-troubles).
Compass Inc. reported its Q4 earnings on Wednesday, noting a 31 percent surge in quarterly revenue year over year. The real estate brokerage platform allows agents to promote and market their properties online and saw a 90 percent agent retention rate as well. Compass CEO Robert Reffkin joined Cheddar News to discuss the company's earnings, what ongoing inflation means for the housing market and how they help agents directly. "Let me start by saying my mom is actually a real estate agent, has been the majority of my life. She's a real estate agent today at Compass, and so I built Compass with her in mind," Reffkin said. The goal for an agent is to grow their business and have a better quality of life, more income to support their family, more time to be with their family, and it's not just software. It's a platform of software and services."
While many are excited to watch the final two NFL teams square-off and see which one ultimately takes home the trophy, some, on the other hand, are there for another mian attraction -- the commercials. Companies during this year's game are looking towards the future From electric vehicles, to robots, and crypto-currency, several first-time advertisers are expected to join long-time advertisers like Pepsi, Budweiser and Doritos during the NFL's biggest game. Tom Morton, Global Chief Strategy Officer at R/GA, joined Cheddar News' Big Game Special to discuss.
Americans are expected to spend nearly $24 billion in 2022 for Valentine's Day, and many of those gifts will be in the form of chocolate. John Galloway, interim president of the Americas and CMO of Godiva, joined Cheddar's Opening Bell to discuss what chocolate trends the brand is seeing this year, plus the impact of inflation and supply chain issues on the industry.
Darren Schuringa, Founder & CEO, of ASYMmetric ETFs, talks about the strength of the U.S. consumer and discusses how tension between Russia and Ukraine is impacting the energy market.
Robert Conzo, CEO of The Wealth Alliance, breaks down the major headwinds impacting markets and highlights areas within technology showing potential growth.
Nissan is revving up its commitment to electric vehicles. the Japanese automaker announcing plans to invest $500 million to transform its assembly plant in Mississippi to build two all-new EV models starting in 2025. It's all part of Nissan's goal to have 23 electrified models for the Nissan and Infiniti brands globally by 2030. Ashwani Gupta, Nissan's COO, joined Cheddar's Opening Bell to discuss this announcement and the company's EV goals moving forward.
Blue Apron CEO Linda Findley joined Cheddar News to talk about the meal kit company’s Wellness 360 holistic wellness campaign and previewing Q4 and end of year results to be released next week. "Really the concept here is about holistic wellness and health," Findley said. "So thinking through not just what you're eating, but also mental health and financial health. And so we try to bring lots of tools to people so that they can think about ways to manage that balance."
Cepton made its debut on the Nasdaq under the ticker symbol ‘CPTN’ on Thursday. Jun Pei, the co-founder and CEO, joined Cheddar News to discuss going public and its lidar-based solutions for improving safety in autonomous features in cars. "It's really just a huge benefit in addition to radar and camera, and becomes an entire sensor suite that will bring cars to a higher level, both for safety and autonomy."
