Tim Cook’s stock is dropping. No, not his actual shares, though they are, too.
Rather, Cook is auctioning himself off for an hour-long lunch at the company’s Cupertino, Calif.-headquarters along with V.I.P. tickets to a keynote address at an Apple event. The highest bid currently stands at $125,000, or about 1,200 shares of Apple
which is quite a bit lower than what similar offers garnered in the prior three years.
In 2013, he offered up a coffee date, and it ended up going for $610,000. A year later, lunch went for $330,001. Then, in 2015, face time with the tech boss dropped to $200,000. To be fair, there’s still nine days to go, according to the Charitybuzz website, so anything can happen this year.
The proceeds go to the Robert F. Kennedy Human Rights organization, a group “committed to the pursuit of a more just and peaceful world.”
As for the declining cost of noshing with Cook, who has served as CEO since 2011, perhaps the novelty is wearing off. Of course, the same might be said for the iPhone, which is expected to show its first year-over-year decline in unit sales when Apple reports earnings Tuesday afternoon.
Or maybe Apple fans are just too busy fixating on the results.
Many on Wall Street are predicting that it will be Apple’s worst in years due to a rare drop in both sales and profit. The stock has lost about 20% in the past year and was leaning lower in midday trading.