Jobs reassures Apple investors

cellphoner · #1 01-28-2008, 05:35 PM

Filed under: Apple Corporate, Apple Financial, Steve Jobs

With Apple's stock plummeting from just shy of $200 to $130.01, as of closing today; AppleInsider is claiming to have gotten a copy of Steve Jobs' letter to investors that he issued last week. In the letter, Jobs urged investors to "Hang in there."

"Wow... what a remarkable last few days," Jobs said. "Our stock is being buffeted around by factors a lot larger than ourselves."

Jobs went on to say that he believed in Apple's fundamentals. He highlighted Apple stores, Apple's focused strategy, and forthcoming products as reasons why people should worry too much about Apple's stock. Apple does have $18 billion in the vault, as it were, so the company can certainly weather some rough quarters.

Jobs is currently the second largest Apple shareholder, behind only Fidelity Investments, with a reported 5.54 million shares. He has, no doubt, been hit hard by the recent happenings on Wall Street; but then again, who hasn't been?

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