The annual shareholders meeting of Apple did not turn out as expected. It was a very long preparation prior to the event but there was nothing surprising in the event. In the event, there was an attempt to boost some lost shares compared to other stocks that are giving good returns. The company’s stocks decreased 35 percent from its highest rate. In regard to this, a re-election of the board of directors was done. Almost the majority agreed to appoint Tim Cook. It appeared that there was a 99.1 percent approval rate for his appointment.
The investors are hoping to recover the $137 billion cash, a proposal that the company is refusing in order to limit issue of stocks. This is in result of the lawsuit filed by Einhorn, one of the shareholders who did not attend the event as well. Tim Cook also emphasized that Einhorn’s lawsuit was silly but it doesn’t mean that returning the cash to shareholders is not considered. He even mentioned that the company is considering it in a serious manner. The smaller investors however mentioned that they don’t have much of a big deal about recovering the cash but they do have high expectations that Apple will take action. The company’s stock fell right after the event.
The stock for Apple’s technology unit was paused right after the decline of the company. One of the majorly affected units was the Silicon Valley technology or SV150. Though there were a number of other firms recovered some noticeable gains by Wednesday. LinkedIn, on the other hand, gained high hits as it went beyond prices after its successful report of sales in the last month. Evercore Partners and Wunderlich Securities also helped Mountain View – a networking corporation, increase affirmative reports. Google increased 1.2 percent, while it was close to Yahoo which gained 1.9 percent. After the event, there wasn’t good news that came in when Groupon declared a forecast that most of the investors did not agree.