Chapter 1419 Foreign Exchange Is the Biggest Key

Apple's stock price is still down this trading day.

The opening price was $5.47, and it fell below the $5 mark within an hour of opening. In the afternoon of local time in the United States, a technology media officially broke the news that Steve Jobs resigned as Apple’s CEO. Once the news was announced, it once again caused market panic, and the stock price sharply in a short period of time. Slipped, the intraday share price fell to a terrifying $4.23.

In order to salvage the decline, Apple urgently issued an announcement. In the announcement, Tim Cook, who was in charge of sales management of Apple, was appointed to take over the position of Jobs and became the new CEO of Apple. He has worked for many years and joined Apple for five years. He has strong personal ability, strong quality, and he knows Apple well, and will lead Apple out of the haze.

Jobs recognized Tim Cook very much. Five years ago, Tim Cook joined Apple and was invited by Jobs. In recent years, Jobs has also been cultivating Tim Cook as a future successor. At this time, Apple let him. x-on: Come out to save the field, people who are familiar with Apple are not surprised.

Consumers, however, didn't expect much from Tim Cook, and Apple's stock rose just a little bit, finally closing at $4.53.

Another day of slaughter.

The stock price and market value have shrunk by 17% in one day, sending chills down the back.

After the end of this trading day, Apple's market value is only 4 billion US dollars. Although all the actual bad news has been exhausted, if Apple can't find a real way to save the decline in the business line, with the Investor confidence continues to lose, and Apple's stock price will continue to decline for some time to come.

This kind of fall, like a blunt knife cutting flesh, must be a long and endless pain and nightmare.

...

The first thing Louis Martin did after arriving at the hotel was to immediately hold a conference call with Sequoia headquarters. Sequoia was very concerned about Li Mu's every move at this time, especially when they felt that Li Mu might have plans to launch a multi-billion dollar project. It was a commercial acquisition at the level, so I was even more eager to know what Li Mu was thinking.

Louis Martin reported the entire process of meeting with Li Mu today to the Sequoia board of directors on the other end of the phone in detail. In the end, he concluded: "Although I don't understand the value of Apple to Muye Technology, Li Mu wants to eat it. Apple's determination is really strong, and I can feel his excitement when he talks about taking Apple private."

Sequoia executives said in surprise to one of the most proficient in capital operations: "What does Li Mu see in Apple? Apple's truly profitable product lines have been killed by him, and now Apple is a mess, and all its business lines Take it out and compare it with Makino Technology.

You will find that Muye Technology does not need Apple at all;

Apple's unique business lines do not bring any help to Muye Technology's existing industries, and its own profitability is very weak, and the cost of continuous research and development is very high; and the overlapping parts of Apple and Muye Technology will be for Muye Technology in the future. It's definitely a burden. Even if Apple is now privatized at a price of $5 billion, there is at least one billion dollars worth of valuation in the two industry chains of iPod and iTunes. Li Mu bought back these two industry chains. What's the point? "

All the Sequoia executives fell silent.

No one can figure this out.

Why did Li Mu buy apples?

With Li Mu's shrewdness, it's impossible not to see the pits in it. To buy Apple is to buy back a huge and unprofitable mess. When Li Mu buys back Apple, it is impossible to keep iTunes and iPod, otherwise he will fight with himself. , but iTunes and iPod have nothing for him to digest. He can only buy them back and put them on hold, which is a complete waste of money.

As for Apple's other business lines, it really doesn't make sense.

When the chairman of Sequoia was puzzled, he suddenly asked: "Is it possible that Li Mu's acquisition of Apple is for some kind of strategic layout? Or is it to clear obstacles for the future of Muye Technology? We can't stop at ours. To measure Li Mu at the level, this guy generally has a very far-reaching layout, and it may not be useful for him to acquire Apple at the moment, but it will be of great use in the future."

"It's unlikely." Louis Martin said: "I have carefully studied Apple's current business lines. In addition to iPod and iTunes, the rest is the MAC computer business. The sales of iMac-G4 are not very good. , the market share of the operating system is also pitifully low, and now that Microsoft has come under fire again, the Mac business will inevitably be affected even more in the future, even if Apple returns to Li Mu, it will be difficult for Li Mu to build the Mac business line.”

After speaking, Louis Martin added: "Remind me, Li Mu has actually invested in a computer manufacturer called Shenzhou in China, and pushed the government to issue an Internet-to-home policy for the benefit of the people. This policy is intended to accelerate the Increasing the number of netizens in Huaxia and the number of terminals connected to the Internet means that Li Mu has been helping Huaxia consumers to overdraft their home computer budget in advance.

Li Mu's will to take Apple is extremely strong, not to mention Sequoia, even if Apple knows about it, he can't guess what Li Mu's intention is.

In Li Mu's view, Apple is now a uranium mine whose atomic energy has not yet been discovered. People only see the value of his land, but not the wealth contained in the ground, so he is valued at the price of the land. To measure, however, once the atomic energy is discovered one day, the price of this land will break through the sky.

The "atomic energy" that Li Mu is looking forward to, one is the mobile Internet and the other is the smart phone. The mobile Internet is the general trend, and the smart phone is the key link for Apple to complete its transformation.

Until Li Mu's rebirth, no company in China has the ability to develop a truly useful operating system, whether it is a computer or a mobile phone. However, Apple has this technical background, and it even has a ready-made system. The thing is the mother of IOS, but she is still a big girl today.

Li Mu firmly believes that as long as he gets Apple before the mobile Internet era, the system will naturally become his own. system.

At that time, I am afraid that Makino's acquisition of Apple's business behavior will become the most successful acquisition in the history of human enterprises, no one.

Think about the investment of billions of dollars, which can support the market value of hundreds of billions of dollars in the future.

The chairman of Sequoia didn't understand Li Mu's thoughts, he smacked his lips and said, "We won't study why Li Mu bought Apple for now. What I am more concerned about now is how Li Mu intends to buy Apple, he doesn't have that much in his hands. With the cash at his disposal, the funding gap is still very large, does he have any plans for refinancing?"

"No." Louis Martin poured cold water on the chairman and said, "Li Mu has made it clear that he is not going to refinance before the IPO. Financing at this time is equivalent to suffering huge losses in disguised form."

The chairman of Sequoia sneered: "It doesn't matter if you don't raise money, you can't take the key acquisition of Apple, right?"

After that, he added: "It is basically impossible for Li Mu to get billions of dollars in cash now. Muye Technology has not been listed, and most of the valuations are virtual assets. The proportion of net assets is too low, and it is not enough. It supports billions of dollars in loans, and when the company is not listed, even the shares cannot be pledged. Who will give him that much money? Taobao's redundant funds are equivalent to hundreds of millions of dollars at most. Moreover, Huaxia has foreign exchange controls. How can he convert the money into US dollars and bring it to the US market? If Li Mu wants to raise tens of billions of RMB in China and then convert them into US dollars, it is almost a pipe dream! Li Mu wants to raise money or not. For the acquisition of Apple, money is not the fundamental issue, foreign exchange is the biggest key!"

Louis Martin said: "I also wonder about this. What Li Mu means now is to ask me to help his team prepare for the acquisition, and then go to negotiate with Apple. He didn't tell me how to pay after the negotiation is successful."

The chairman of Sequoia said: "Well, if you go thousands of miles to help, it is not for nothing. After you meet with Li Mu tomorrow, give him a cooperation plan. Sequoia is willing to borrow 3.6 billion US dollars to Muye Technology without interest. The money can be repaid after the successful IPO of Muye Technology. If Li Mu does not want to IPO in the short term, the time can be extended to three years, but the condition is that Muye Technology will dilute the shares by three points to us at a valuation of 80 billion US dollars. If so, he only needs to sacrifice three points to get $6 billion in cash to buy Apple."

In the view of the chairman of Sequoia, the reason why Li Mu is unwilling to raise another round of capital is simply because he does not want to dilute his shares. If Li Mu wants to raise 6 billion US dollars now, the shareholders of Muye Technology must at least collectively dilute 7-8 shares. Point, if you let Li Mu dilute so many shares at this time, whoever Li Mu is may not be able to agree, but everything is negotiable. Since you don’t like 7-8 points, then I will ask for a little less, and you will dilute three points. Give me the shares, I will give you 2.4 billion US dollars, and then lend you 3.6 billion US dollars, you can use it slowly, this is always interesting, right?

Sequoia has a lot of hot money and has been looking for various investment projects. Most of this money is private equity funds. As long as Sequoia promises a rate of return, it can use this money to make venture capital around the world. Top companies like Sequoia The old-fashioned capital, because of its strong capital operation ability and strong hands and eyes, can have as much money as they want. Today, they said they were going to lend Li Mu 3.6 billion US dollars. At night, countless people brought 36 billion US dollars to their door.

Sequoia also has to pay interest rates for the 3.6 billion US dollars, but the reason why it is willing to lend it to Muye Technology without interest is mainly to be able to use 2.4 billion US dollars to re-invest in the shares of the three points of Makino Technology, the shares of the three points of Makino Technology, etc. Even if it is diluted after the IPO, it will be worth at least four or five billion US dollars. If it is held for a long time, the potential benefits will be even greater, far greater than the interest paid by the $3.6 billion loan to Muye Technology for a few years.

Louis Martin naturally understands the chairman's intention. Since he can't bite down a large piece of meat, he can take a small bite and give some other benefits. Is this the head office?

So he immediately assured: "Don't worry, Chairman, I will go to Muye Technology to discuss with Li Mu in detail tomorrow morning!"

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