"Facebook seemed like it was running amok and was about to be leveled by the government," CNBC's Jim Cramer, the host of "Mad Money," recalled on Wednesday. "No wonder the stock traded down to 18 times earnings."
Cramer argued that Facebook's comeback is symptomatic of a broader problem in the stock market: the negativity that gets directed at seemingly countless stocks and situations.
When asked about the impact of potential trade war escalation, Cook seemed surprisingly sanguine about the state of U.S.-China relations.
"I am pretty optimistic there," Cook told CNBC. "I think that China and the U.S. have this unavoidable mutuality where the U.S. can only win if China wins, China can only win if U.S. wins and the world can only win if both win."
"So if you look at what history tells us — that countries that are the most open and most diverse do the best, and the folks that are closed and least diverse, their citizens do the worst — ... it tells us that again and again and again," Cook continued. "And I think both countries know that."