Apple shareholder meeting should be ecstatic
Apple had a very good year last year despite a global recession, and today Steve Jobs will have a chance to talk about that with Apple investors, in addition to outlining how he plans to have yet another stellar year.
Apple far outperformed most other companies during 2009, whether in our out of the technology sector. During a year of global recession, when the highest performing businesses were flat, Apple managed to increase revenue and profits, and to double the stock value of the company. Even better, it will be Steve Jobs that delivers the good news from last year and the almost certainly upbeat projections for the upcoming year. Jobs was absent from last year’s shareholder meeting, which was held during his leave of absence for an illness which culminated in a liver transplant and his return to lead the company through the last half of 2009.
Much happened during the last calendar year at Apple, but none of that good news matched the recovery of Steve Jobs and the doubling in value of Apple shares. Still, the good news included a speedier version of the wildly popular iPhone smartphone, a successful update of its OSX to Snow Leopard, including an all new iTunes, and the introduction of a tiny new iPod Nano that comes with a with a video camera built in, according to a Sydney Herald story. In a foretaste of one subject that will undoubtedly be popular during the shareholder meeting, Apple developed their entry into the tablet computer market, the iPad, the most rumored product of 2009.
It is almost certainly the iPad and the iPhone that will get the most hype at today’s meeting. The iPhone will be seen as a savior from the previous year and a standard bearer for continued growth in 2010. The iPad will be hailed as the new hero in town, a device that will build an entirely new marketplace sure to be dominated by Apple. It is difficult to believe that there will be much hostility in the audience today as Jobs talks about the past and the future. It is difficult to work up a great deal of bad feeling for a company that doubled your money in a year.
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