Did Elon Musk Just Lose the Apple of His Eye? Cramer on Tesla's Latest Departure
Jim Cramer has some thoughts on Apple's Chief Design Officer Jony Ive moving into a senior advisory role and how it compares to Tesla's Chief Technology Officer, J.B.
Straubel, moving into a senior advisory role.
Real Money Stock of the Day Tesla reported an adjusted loss in the period of $1.12 a share, below forecasts that predicted a loss of 40 cents.
Revenue in the quarter of $6.35 billion also came up shy of consensus.
And, of course, there was a bit of a surprise on the call, when Musk announced one of the founders of Tesla and Chief Technology Officer, would be moving to a senior advisor role.
This move is similar to Apple's Ive, who announced earlier this year that he would be moving to a senior advisory role.
Ive had joined Apple in its early days and worked closely with co-Founder and CEO Steve Jobs.
So, who wore it better?
"I think that the Apple announcement was much ado about a little something.
And [Straubel] leaving, I don't think it's a consequential role.
I think that they are making cars, they have their bold blueprint.
They have their China blueprint.
If they can get the cost down, then the world is their oyster," said Cramer.