AppleInsider has published a “private communication” from last week in which Steve Jobs “acknowledged the beating his company’s shares have taken during this time of economic uncertainty, but remained confident that investors would inevitably recoup their losses and then some.”
Steve Jobs attached this stock performance chart onto his private internal email“Wow… what a remarkable last few days,” he wrote in an email to employees. “Our stock is being buffeted around by factors a lot larger than ourselves.”
“As you can see, we have outperformed many other blue-chip tech companies, including Google,” he wrote, attaching a stock performance comparison chart for illustration. “I continue to believe that our fundamentals - our remarkable people, our clear and focused strategy, our new product pipeline, our 200+ retail stores, our $18 billion of cash in the bank with no debt, etc., will serve us well in the coming months and years.”
At the end of the email Jobs expressed his confidence that those who remain loyal to their positions in Apple would reap the benefits in the long run.
“I believe that investors who stay with us will be rewarded as the market’s confidence is restored over time,” he wrote. “Hang in there.”
Apple’s stock which hovered around $200 towards the end of 2007 has dropped as low as $130 recently.
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