(Photo: The Telegraph)
A private Monday morning email from Tim Cook to CNBC analyst Jim Cramer — in which Cook revealed material information about his company’s growth in China — could land the Apple chief in hot water with the Securities and Exchange Commission.
Cook emailed Cramer early Monday in an attempt to allay Wall Street fears that China’s continued economic slowdown would negatively impact Apple’s growth in the country. Apple shares opened the day under $100, but quickly rebounded.
In the message, Cook wrote that Apple continued to see “strong growth” in China through the last two months and revealed accelerating iPhone activations as well as record Chinese App Store performance.
Not long after fellow CNBC anchor Carl Quintanilla posted the email to Twitter, many on Wall Street began questioning whether Cook had violated SEC Regulation FD. That regulation prohibits publicly-traded companies from disclosing material company information privately without simultaneously releasing it publicly.
The original article can be found at appleinsider.com