AAPL Stock Up 1% in Pre-market, Apple CEO Impressed with Employees’ Remote Work

UTC by Tolu Ajiboye · 3 min read
AAPL Stock Up 1% in Pre-market, Apple CEO Impressed with Employees’ Remote Work
Photo: Depositphotos

Apple CEO Tim Cook said he is impressed with employees’ effective remote work. But he thinks that workers can return to the office by next year.

Apple Inc (NASDAQ: AAPL) CEO Tim Cook recently said he is impressed by staff performance with remote work. He said that some things “work really well virtually”, and further suggested that remote work for Apple employees may continue for much longer. 

Many companies, including Apple, were forced to temporarily shut down services at the peak of the pandemic. As a result of the “unprecedented moment”, Apple resorted to remote work. Till now, the company’s employees have been working from their homes.

Apple CEO Praises Employees’ for the Efficiency of Remote Work

CEO Cook recently said that he is impressed with the staff’s ability to work effectively, even while at home. Cook revealed this on Monday in an interview with The Atlantic Festival. Speaking further, the CEO of the multinational technology company also added that some of the new work habits would remain even after the pandemic ends.

In addition, Cook expressed his certainty that the company may not return to its pre-pandemic status.” However, Cook noted that Apple still depends on “people kind of running into each other over the course of a day.”

Furthermore, the CEO said he and some employees are looking forward to resuming work in the office. In a statement, Cook also revealed that 10% to 15% of Apple employees have returned to work from the office. He added that he hopes most of the employees can return to Apple’s new Silicon Valley campus in 2021.

During the interview, Cook mentioned one of the recent developments of the company. Earlier this month, Apple launched some new products during the annual Apple Event 2020. The newly-launched products include the Apple Watch Series 6 and SE, the new 8th-generation iPad, and the new iPad Air. The company also announced a new workout subscription service called Fitness+ and the Apple One service bundles.

Other CEOs React to Virtual Work

Unlike Apple, some other companies do not support remote work. JPMorgan Chase (NYSE: JPM) CEO Jamie Dimon said the work-from-home policy might cause lasting damage if employees do not return to their offices soon.

Although Cook noted that virtual work is going on well for Apple, some companies are uninterested. The founder and co-chief executive of Netflix Inc (NASDAQ: NFLX), Reed Hastings, recently said there is no benefit from remote work.

Answering to whether he has seen the advantages of people working from home, Hastings told The Wall Street Journal:

“No, I don’t see any positives. Not being able to get together in person, particularly, is a pure negative….”

Similarly, JPMorgan Chase CEO Jamie Dimon said it is time to get workers back in their offices. Speaking in a virtual panel discussion at the Singapore Summit, Dimon warned of lasting damage if workers do not resume going to the office soon.

Currently, at a premarket trading price of $111.29, Apple (AAPL) stock is up 1.09% over its previous close of $110.08. Also, the company has been surging in the past twelve months. Over the past year, AAPL jumped over 102%. In addition, the tech giant has increased by nearly 50% in 2020 and 20.13% in the last three months.

However, Apple stock has declined by 11.81% in the past month. Similarly, the company fell nearly 5% over the last five days.

Business News, Market News, News, Stocks, Wall Street
Related Articles