Breakingviews - Apple needs CEO charm more than Facebook

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Breakingviews - Apple needs CEO charm more than Facebook
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(Reuters Breakingviews) - Tim Cook’s charm offensive is coming just at the right...

The entrance sign to Facebook headquarters is seen in Menlo Park, California, on Wednesday, October 10, 2018. REUTERS/Elijah Nouvelage

Zuckerberg has proved a poor advocate for his company. His assertion of nonpartisanship has fallen on deaf ears, both Republican and Democratic. He has been summoned to testify before Congress twice in the last two years. Last week, his defense of Facebook’s Libra cryptocurrency project failed to allay skeptics’ fears.

But Apple’s huge, mature and complex business – worth over $1 trillion in market capitalization – means it has to play more defense. Over the last year, Apple’s stock has underperformed the Nasdaq 100 tech index. In the July to September quarter, Apple reported only 2% growth in its top line, and a 2% decline in Greater China sales.

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