Tim Cook, Chief Executive Officer of Apple Inc. (NASDAQ:AAPL), has been busy defending the reputation of the company in connection with the allegations that it avoided paying taxes in the United States by using a complicated tax strategy to hide billions of dollars of profits overseas.
Tim Cook Answers Questions on Apple Products
Most recently, Cook answered questions on a wide range of topics such as his plans and products for Apple Inc. (NASDAQ:AAPL) during an on-stage interview during the AllthingsD conference. He also expressed his opinion regarding Google Glass, the augmented reality eyeglass integrated with a camera, display screen, and processor from Google Inc (NASDAQ:GOOG). The Google Glass Explorer Edition costs $1,500.
Apple CEO Talks Google Glass:
According to Cook, Google Glass is difficult from a mainstream point of view because of the value of the device. He said, “It’s probably more likely to appeal to certain markets.”
Alluvial Fund performance update for the month ended May 2021. Q1 2021 hedge fund letters, conferences and more Dear Partners and Colleagues, Alluvial Fund, LP returned 5.4% in May, compared to 0.2% for the Russell 2000 and 1.0% for the MSCI World Small+MicroCap . . . SORRY! This content is exclusively for paying members. SIGN UP Read More
Cook also indicated that he is interested in wearable products and emphasized that the “area is ripe for exploration,” and many companies will dive in and he acknowledged that there things need to be resolved in the space. When asked if Apple Inc. (NASDAQ:AAPL) will be among the companies to develop a wearable product, Cook refused to answer.
Apple CEO Hints iWatch:
It is interesting to note that Cook expressed interest in wrist-wearable products. He said, “The wrist is interesting. You still have to convince people it is worth wearing.” He noted that it is more natural to wear something on the wrist. There have been rumors that Apple Inc. (NASDAQ:AAPL) is developing an iWatch, which may be available in the market by the second half of next year since Cook already stated that the company will not release any new products this year.
During the interview, Cook pointed out that Apple Inc. (NASDAQ:AAPL) is not in trouble despite strong competition in the smartphone industry, particularly from Samsung Electronics Co. Ltd (LON:BC94) (KSE:005930). He cited statistics showing that consumers use Apple Inc. (NASDAQ:AAPL) products more than the products of any of its competitors.
For example, he emphasized that 59 percent of the smartphone web traffic comes from the iOS operating system. He also noted that Apple Inc. (NASDAQ:AAPL) sold 85 million iPhones and 42 million iPads in the previous quarter. Cook also said that the company already sold 13 million Apple TV devices.
Cook said, “We are a product company, so we think about products. Winning has never been about making the most. Our north star is always on making the best products. So we always come back to that.”
When asked to share details about the new iOS, Cook said, “I think I will wait and let you see it.”