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Harman CEO Comments on Stock’s Decline

Wednesday, 13 Jun 2012 | 7:19 PM ET
Harman International CEO on Apple's Siri
Shares of Harman International fell as much as 8% yesterday when Apple announced plans to integrate Siri into new car models; and the company's CEO Dinesh Paliwal, clears the air and discusses Harman's recent efforts to integrate Apple's Siri into the BMW, and recent growth for the company in Europe.

Although shares of Harman International Industries dropped sharply after Apple announced plans to offer voice activated real-time traffic updates and turn-by-turn navigation in cars, the car stereo equipment maker said it’s not perturbed by Apple’s announcement.

“We see Appleas a collaborator, not as an adversity,” Harman CEO Dinesh Paliwal told Jim Cramer on CNBC’s “Mad Money.”

The top executive also commented on a note from Morgan Stanley, which outlined the many challenges thecompany faces. He also addressed the company’s prospects going forward.

Watch the video to see the full interview.

Read on for Cramer's Stocks to Avoid

When this story was published, Cramer's charitable trust owned Apple.

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