The Buzz
Apple's Tim Cook is Wall Street hero for a day
May 21, 2013: 2:29 PM ET
While lawmakers took turns bashing Apple (AAPL) for its creative tax policies, investors were cheering on CEO Tim Cook as he defended the company and pushed Congress to overhaul the tax code.
The general consensus among traders on StockTwits was that Cook looked like a capable leader compared with the elected officials doing the questioning.
Catwoman2011
Long Tim Cook. Short John McCain. $AAPL
RobertinGatos
$AAPL Tim Cook did great job for Apple and US today by standing up to the BS. Now maybe remaining holdouts will see what a good CEO he is!
MagnumCharts
Tim Cook is crushing it. Doubled down on my $AAPL calls this morning and have 75% gains already. Waiting for the hearing to end to close
Cook even managed to plug Apple products.
@jfahmy: Gotta love Tim Cook using his testimony as one big advertisement for $AAPL" <- might as well be useful for something
Once one of the most sought after investments on Wall Street, Apple has struggled with concerns about the company's ability to develop revolutionary new products without its visionary leader, Steve Jobs, who died in 2011.
Related: Apple grilled about tax havens
Cook, who was chief operating officer before taking over as CEO, has been praised for his technical skill. But many investors have questioned his leadership as Apple's stock price has plunged.
After hitting an all time high above $700 last September, Apple's stock has dropped more than 30%.
The stock has regained some ground in recent weeks as bargain hunters still see Apple as a good long-term bet. Apple also announced plans to return $100 billion to investors over the next few years by repurchasing stock and paying dividends.
While Cook came out looking like a winner, Congress definitely didn't gain any new fans on Wall Street. Of course, traders are typically not big fans of the legislative branch.
CoderTrader
Sad day in America when Congress goes after one of the greatest enterprises our country has ever had. $AAPL
shogunofharlem78
$AAPL congress really is a joke these days. Sad 
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The opinions expressed in this commentary are solely those of Paul R. La Monica. Other than Time Warner, the parent of CNNMoney, and Abbott Laboratories, La Monica does not own positions in any individual stocks.
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The opinions expressed in this commentary are solely those of Paul R. La Monica. Other than Time Warner, the parent of CNNMoney, and Abbott Laboratories, La Monica does not own positions in any individual stocks.
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