Tim Cook Is Clear When He Says Apple Inc. Investors Who Care Only About Profits Should “Get Out Of The Stock.”
Apple Inc. (NASDAQ:AAPL)’s CEO, Tim Cook, once said that investors whose eyes are only on profits should get out of the stock. The CEO made the remark two years ago while responding to a climate-change heckler during the Apple’s annual meeting.
Apple inks $850 million solar power deal
In a move that truly proves that Apple Inc. (NASDAQ:AAPL) is concerned about more than just short-term profits, the company has signed, what is believed to be the boldest and even most ambitious renewable energy deal. The company inked an $850 million solar power agreement with provider First Solar, Inc. (NASDAQ:FSLR).
The agreement will enable Apple to power its California headquarters, offices, stores and data centers with solar. Apple is rapidly embracing renewable energy investment. All Apple’s data centers are now running on renewable power. The company’s other solar power projects include two 20-MW plants already completed in North Carolina with a third one in progress. There is also another 20-MW plant underway in Nevada.
Walking the talk
According to Apple Inc. (NASDAQ:AAPL), the time for talk about renewable energy is over, and now it is time to act, and Apple is proving that, with what is has done in the sector. Cook disclosed that their investment in solar or renewable energy goes far beyond security the Mother Nature. He said Apple will be able to make significant savings through its renewable energy projects, which means they are not throwing away money by signing solar electricity deals.
Major techs turning to renewable energy
The other major technology companies investing in renewable energy are Google Inc (NASDAQ:GOOGL), Microsoft Corporation (NASDAQ:MSFT) and Amazon.com, Inc. (NASDAQ:AMZN). However, these companies have mostly invested in wind power, which is deemed cheaper than solar. According to experts, solar is the future even though it might look expensive. For one, solar prices have been falling faster than wind, which could make solar the largest single source of electricity by 2050.
Looking at the projections of solar power in terms of expansion and cost, there is a good reason Apple Inc. (NASDAQ:AAPL) has a huge investment there. Sometimes investors must think beyond the short term when considering profits!
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