Steve Jobs tells Apple employees and investors to "hang in there"

Nilay Patel
N. Patel|01.28.08

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Nilay Patel
January 28, 2008 9:09 PM
In this article: apple, steve jobs, SteveJobs, stock
Steve Jobs tells Apple employees and investors to "hang in there"

Although the market as a whole has taken a beating lately, the rollercoaster ride has been particularly harsh on Apple stockholders, who've seen their shares fall from a high of $202 earlier this year to just over $130 today. Of course, among the hardest hit was Steve himself, who has over 5M shares of the company -- which is why he may have sent out an email today advising employees to "hang in there." Calling the past week "a remarkable last few days," Jobs pointed to Apple's product pipeline, people, strategy and -- perhaps most importantly -- $18B of straight cash in the bank as reasons to have faith, and said that factors "larger than ourselves" were taking their toll on the stock price. That may be so, but it's still pretty unlike Jobs to comment on things like this -- we suppose taking a $377M hit on paper would probably cause us to say a few things as well.
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