Can going on TV help your company’s stock price? Apparently so, if you’re Apple CEO Tim Cook.
That’s the conclusion drawn by Bernstein analyst Toni Sacconaghi in a note this week. He looked at Tim Cook’s seven TV appearances since he took over as CEO, including two with CNBC’s Jim Cramer and two on Charlie Rose.
On average, he found, Apple’s share price had been underperforming the market by more than 4% two weeks before Cook’s appearances. But the stock started outperforming after the appearances and continued to outperform for the following month.