Investor praises Jobs' legacy for Apple's strong performance

The time to judge how well Apple's new management team is performing will be in two years' time, according to Saudi billionaire and Apple shareholder Prince Alwaleed bin Talal.

In an interview which will be shown today on PBS' Charlie Rose show, Alwaleed says that the company's current strong performance will continue for the next five or six quarters and that this was largely due to the legacy of the late CEO Steve Jobs.

"The strength of Steve Jobs is that he established a company that’s clearly moving on all cylinders and clicking very well. For the next five, six quarters, this will be still the legacy of Steve Jobs. I think maybe two years from now, we will see what happens with the new management," he said.

Though new CEO Tim Cook hasn't announced any dramatic change in strategy since he took over at the helm, chief financial officer Peter Oppenheimer did say in the recent quarterly financial earnings call with analysts that the company was "actively discussing uses of our cash balance," though no acquisitions would seem to be on the cards right at the moment.

via Bloomberg