Some stick-in-the-muds complain that Apple’s chief executive Tim Cook may have violated US regulations on fair disclosure by giving a sales update to Jim Cramer, the host of CNBC television’s Mad Money.
“Booyah!” to them. Mr Cook’s revelation that Chinese sales growth was “strong” throughout July and August was a welcome palliative to the market mayhem of recent sessions.
Concerns over the propriety are overdone. There is no suggestion that Mr Cook, unlike one recent New York case, writes market-moving information on paper napkins and has recipients eat them after reading; he chose a well-known TV host to circulate the information broadly.
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