How do Apple investors feel about Cupertino’s $2.5 billion housing pledge?

No good deed, they say, goes unpunished.

From Monday’s press release: “Apple commits $2.5 billion to combat housing crisis in California”:

Apple today announced a comprehensive $2.5 billion plan to help address the housing availability and affordability crisis in California. As costs skyrocket for renters and potential homebuyers — and as the availability of affordable housing fails to keep pace with the region’s growth — community members like teachers, firefighters, first responders and service workers are increasingly having to make the difficult choice to leave behind the community they have long called home. Nearly 30,000 people left San Francisco between April and June of this year and homeownership in the Bay Area is at a seven-year low.

“Before the world knew the name Silicon Valley, and long before we carried technology in our pockets, Apple called this region home, and we feel a profound civic responsibility to ensure it remains a vibrant place where people can live, have a family and contribute to the community,” said Tim Cook, Apple’s CEO. “Affordable housing means stability and dignity, opportunity and pride. When these things fall out of reach for too many, we know the course we are on is unsustainable, and Apple is committed to being part of the solution.”

Note: Apple collects $2.5 billion in revenue every 3.5 days.

23 Comments

  1. victor castroll said:

    nice to see some good. To detract from the dochebqggery

    2
    November 4, 2019
    • Michael Thompson said:

      Dancing away and you?

      When that guy said that Apple was going to 180, did he mean 280?

      Winning!!!!

      1
      November 5, 2019
  2. Gregg Thurman said:

    High speed transit to the US99 corridor would solve the problem. Instead they construct freeways, destroying property tax paying housing land and forcing workers to live close in to employment.

    1
    November 4, 2019
  3. Ross Richardson said:

    Any Apple investor second-guessing Tim Cook’s values and judgment is in the wrong stock.

    3
    November 4, 2019
  4. Jerry W Doyle said:

    Albert Einstein said: “…. A ship is always safe at shore, but that is not what it’s built for.”

    Under Tim Cook’s leadership Apple has dedicated itself and shown itself to exemplify good corporate governance from the environment to protecting individuals’ privacy and personal information, to inclusion including accessibility issues of peoples with disabilities, to corporate governing ethics. Cook expressed it best in his own words: “…. I don’t think business should only deal in commercial things. Business to me is nothing more than a collection of people. If people should have values, then by extension a company should have values.”

    Tim Cook in making Apple a better company is facilitating Apple concomitantly in making the world a better place. So, this housing pledge is another in a series of commitments in that vein.

    1
    November 4, 2019
  5. Wyatt Counts said:

    Tim Cook is doing his supply chain thing. In this case a predictable supply of choice labor in the Cupertino area. It may ding the books a tiny bit for a few quarters, but I have no doubt, that he has no doubt, that it will pay off for Apple down the line.

    6
    November 4, 2019
  6. Milenko Tanasijevic said:

    The good deed remains a good deed, even when mishandled / usurped by others

    0
    November 4, 2019
  7. Martin Beutling said:

    “How do Apple investors feel about Cupertino’s $2.5 billion housing pledge?”

    I feel great about it.

    Why?

    I am from Germany and this spring, I travelled to California for the first time.
    San Francisco was our destination and we spend 5 days in this wonderful city. Of course we also made a short trip to Cupertino and visited the Apple Mothership.

    But, to be honest, I was shocked about the number of poor and homeless people I saw in and around San Francisco.
    Especially when you consider, that only a few miles away in Silicon Valley there are hundreds or thousands of millionaires or even billionaires who build their fortune in this area.
    I ask myself: why don’t companies like Apple, Google, Facebook, Tesla, Netflix (you can insert here any company you want) take a few od their millions, build homes and took these people away from the streets….call it social responsibility or whatever.

    Today, I am really proud of Apple, a company that I support since 20 years and that made me rich (being an amateur investor since 2000) and that shows responsibility for all those, who aren’t as lucky in life as people like us, who can effort buying their stuff and getting serious bucks for simply owning a part of that company.

    8
    November 4, 2019
    • Fred Stein said:

      Martin, thanks for sharing your upbeat and frank thoughts.

      1
      November 4, 2019
    • Jerry W Doyle said:

      @Martin Beutling: Good read Martin. Thanks for sharing.

      0
      November 5, 2019
  8. Larry Fritzlan said:

    I totally support it. The pain of being homeless, sleeping on concrete, suffering from mental illness and addiction is inconceivable. As a society we must do better and that includes corporations as well as each of us.

    Tim Cook is a good man and is running a good company. This is a wise and compassionate move.

    3
    November 4, 2019
  9. David Drinkwater said:

    Where’s the supposed punishment?

    Apple is up another buck and a half today. The crowd here generally seem happy about it.

    For me, I’m all in favor. People like good neighbors. If you do the right thing, it usually comes back around in some form. (Usually, not always.)

    0
    November 4, 2019
  10. Jerry W Doyle said:

    @Joseph Bland: “…. Bernie Sanders criticizes Apple’s $2.5B California housing plan, says company helped create crisis”

    Say what?

    0
    November 5, 2019
  11. Fred Stein said:

    Apple created high paying jobs in an area where many others have created high paying jobs.

    Apple wisely realizes that the community needs other hard working skilled people for hundreds of other jobs.

    As an investor I’m thrilled. It seems the market agrees.

    1
    November 5, 2019
  12. John Konopka said:

    As an investor I’m fine with this. I didn’t see the time this is spread over. Bernie is hitting on Apple but Google, FB and others in the area also pledged funds, all much less than Apple’s. I guess Bernie gets more attention beating up on Apple.

    0
    November 5, 2019
  13. Dan Scropos said:

    Sanders was one of the militant socialists that demanded Apple bring back their overseas cash and pay 35%, no questions asked. He’s still bent that the Trump administration made the number much lower. I thought the Trump administration was still a bit high. 10% seemed right, but I was happy at the compromise, nonetheless.

    2
    November 5, 2019
  14. Kirk DeBernardi said:

    Which din is more caustic?

    • The fact you did nothing.
    • The fact you talked about doing something, but didn’t.
    • The fact you did something.

    0
    November 5, 2019

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