Bernstein, told CNBC's " Squawk Alley ." Tim Cook: Market doesnt need to grow for Apple to grow "The old adage of 'Do what they do, not what they say,' holds true in this case with Apple," Sacconaghi said. Since becoming chief executive, Cook has made seven major on-screen appearances, Sacconaghi wrote in a research note. Three months after each one, Apple underperformed the S&P 500 , despite bouncing the day after the appearance in all but one case, Sacconaghi wrote. Cook, usually tight-lipped about Apple's strategy, appeared on CNBC's " Mad Money " on May 2. The tech giant's shares are down nearly 1 percent month to date, while the S&P 500 is up modestly, according to FactSet. Apple's best days are behind it, says top analyst On the show, Cook told Jim Cramer that if people switch from Android to Apple phones, "the market doesn't need to be growing hugely for Apple to grow." Cook's comments came after the company reported its first year-over-year quarterly sales drop since 2003. Apple last month reported fiscal second-quarter earnings of $1.90 per diluted share on $50.56 billion in revenue, below the $2 a share on $51.97 billion in revenue projected in a consensus estimate from Thomson Reuters.
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