Items tagged with tim cook

Apple is already winning the wearables war, but it is the next version of the company's Apple Watch that could end up a real game changer. Tim Cook, the man in charge, was seen at the Apple campus in Cupertino, California wearing a prototype blood glucose monitor connected to an Apple Watch. If such a thing could make the leap from prototype to retail hardware, it would be a boon millions of people who battle diabetes. According to the Centers of Disease Control and Prevention (CDC), nearly 30 million Americans have diabetes. And in 2012, it was estimated that 86 million Americans age 20 and older had prediabetes, versus 79 million in 2010. Diabetes was the 7th leading cause of death in the United... Read more...
What is a company to do when it is sitting on a $256 billion pile of cash? If you’re Apple, you peel away a tiny sliver of that money to reinvest in the United States. That’s coming straight from the horse’s mouth, or in this case, Apple CEO Tim Cook. In an interview this week with CNBC’s Jim Cramer, Cook explained that Apple would set aside the $1 billion for an advanced manufacturing fund. “It's $1 billion of our US money, which we have to borrow to get. That's another whole topic.” Cook’s off-hand comment refers to the fact that most of Apple’s cash pile is held overseas, and the company has no plans to repatriate that money unless it can secure more favorable terms with regards to the... Read more...
Apple announced its fiscal Q2 2017 earnings yesterday, and the company reported $52.9 billion in revenue against a Wall Street consensus of $53.1 billion. The company also experienced a downturn in iPhone sales, as it shipped 50.8 million units for fiscal Q2 compared to 51.2 million during the same quarter in 2016. Everyone has been focusing on that figure for iPhone shipments, even if it’s down ever so slightly from the year before. Some are wondering if Apple has lost its mojo, or if Apple’s iPhone boom in China has lost its sizzle. According to Apple CEO Tim Cook, there’s another explanation for weaker sales. Cook is blaming this downturn on a product that hasn’t even been released. “I only... Read more...
The term "fake news" has been floating around a lot over the past year, largely fueled by events surrounding the 2016 U.S. Presidential Election. Following Donald Trump's November victory, the world at large began to wonder if heavily biased or outright made-up new stories were causing real ill effects in the general populous. Even entire companies have been mulling the theory, including Facebook, which has been actively battling the issue in France, where a springtime election is fast approaching. The latest person to chime in on the issue is none other than Apple CEO Tim Cook. He goes so far as to say that fake news is "killing people's minds", which isn't hard notion to sympathize with. Some... Read more...
The losing streak is over. For the past three quarters, Apple has reported lower earnings on a year-over-year basis thanks in part to declining iPhone and Mac sales. However, Apple turned the tide for fiscal Q1 2017 by delivering a record $78.4 billion in revenue for the quarter compared to $75.9 billion one year ago. Earnings per share came in $3.36 per share compared to “The Street” estimate of $3.21 per share. Net profit stood at $17.9 billion for the quarter. International sales amounted to 64 percent of all of Apple’s quarterly revenue. iPhone sales inched up to 78.3 million units, compared to 74.8 million units during the same period last year. Macs sales were slightly up at 5.4 million... Read more...
Certainly it is not easy running Apple, one of the biggest companies in the world (it cracked the top 10 of the Fortune 500 list with a No. 9 ranking in 2016, and with a market capitalization of more than $629 billion, it is the most valuable firm on the planet), but easy or not, that is the job of Tim Cook. How he is doing is up for debate, and according to at least one former Apple employee, Cook has sucked the excitement out of Apple. Bill Burrough, a former Apple engineer, described Apple to CNBC as being like the "wild west" in 2007. Burrough said that during his first two years of employment there, he worked on projects that had next to nothing to do with what his manager was responsible... Read more...
Say what you will about the management style of Steve Jobs and the many accounts of his character, behind all the personality quirks was a marketing genius, one that truly understood what would excite the consumer. That was more evident than ever when Apple unveiled its first iPhone model 10 years ago to the day. There was Jobs, on stage at Macworld 2007 in San Francisco excitedly introducing the world to a game changing product. The iPhone was not the first smartphone on the market, though Jobs used that to his advantage. Using a quadrant separated by two lines, a horizontal one going from "hard to use" to "easy to use" and a vertical line going from "not so smart" to "smart," Jobs helped members... Read more...
There are many companies that would not mind switching positions with Apple, but even so that does not give the Cupertino out fit license to go into cruise control. That is not what Apple CEO Tim Cook did, exactly, but after failing to meet certain performance targets last year, his earnings in 2016 came to $1.58 million less than in 2015, putting his salary closer in line with what he made in 2014 (but still half a million less).Before anyone goes out and makes a GoFundMe page for Cook to pay his bills, rest easy, he still collected $8.7 million in 2016, which includes a base salary of $3 million, non-equity incentives of $5.37 million, and other compensation totaling $378,000. He will have... Read more...
When it comes to questions swirling around Apple’s Mac division, there’s the corporate speak, and then there’s the commentary from the folks down in the trenches deep within Apple. Earlier today, we heard from Apple CEO Tim Cook that users need not be worried about the direction of the Mac. "Some folks in the media have raised the question about whether we're committed to desktops,” said Cool in a post to Apple’s employee message board. “If there's any doubt about that with our teams, let me be very clear: we have great desktops in our roadmap. Nobody should worry about that.” However, a new report from heavy-hitting Apple insider Mark Gurman details more troubling concerns within the Mac division.... Read more...
Steve Jobs, may he rest in peace, once likened the desktop PC to a truck in a world full of cars. In his opinion, the PC was on its way out in favor of alternate form factors, in particular the iPad. This was part of his infamous post-PC era dialogue and if he was still in charge of Apple, we might be looking at a very different product lineup right now. But it is Tim Cook that is in charge, and in case anyone is wondering, desktops are still very much a part of Apple's future."Some folks in the media have raised the question about whether we're committed to desktops. If there's any doubt about that with our teams, let me be very clear: we have great desktops in our roadmap. Nobody should worry... Read more...
Market research firm IDC put a damper on the smartwatch category noting that basic wearables such as fitness bands are taking over as the wrist accessory of choice among consumers. It also predicted that Apple's success in the smartwatch sector going forward "will likely be muted" as it comes off a down quarter with year-over-year decline in Apple Watch sales. If that's the case, then why is Apple CEO Tim Cook so high on the smartwatch category?Simply put, Cook views IDC's assessment of the category as being flat out wrong."Sales growth is off the charts. In fact, during the first week of holiday shopping, our sell-through of Apple Watch was greater than any week in the product's history. And... Read more...
It’s no secret that President-elect Donald Trump is not a fan of U.S. manufacturers using overseas labor to build their products. Trump has been angling to stop Carrier from exporting American jobs, and he has railed against Ford for moving jobs to Mexico. Trump has also made Apple — one of the world’s most profitable companies — a target of his attacks. “I was saying, make America great again, and I actually think we can say now, and I really believe this, we're gonna get things coming,” said Trump in January. “We're gonna get Apple to start building their damn computers and things in this country, instead of in other countries.” It is now coming to light that Apple CEO Tim Cook called to congratulate... Read more...
Apple may be an American company, but the bulk of its products (save for the long-neglected Mac Pro, which is assembled in the United States) are manufactured in China. The relatively low cost of labor, coupled with premium pricing for devices like the iPhone, has allowed Apple to become one of the most profitable companies in the world. However, according to a new report from the Nikkei Asian Review, during the past year, Apple has at least explored the idea of manufacturing the iPhone in the United States. According to a source for the publication, “Apple asked both Foxconn and Pegatron, the two iPhone assembly plants, in June to look into making iPhones in the U.S. Foxconn complied, while... Read more...
There are a handful of truly influential companies, firms that have changed the world and continue to do so. Apple is one of them, so when Apple CEO Tim Cook talks about the next big in technology, there's good reason to listen, even if you don't agree with what he's saying. During a recent question and answer session with Republican Senator Orrin Hatch in Utah, one of the things Cook talked about was augmented reality and its path to mass adoption. Whatever your feelings about Apple, few would disagree that it's a major driver of consumer culture. Apple helped popularize the PC as a home appliance and it played a critical role in accelerating the adoption of mobile devices as everyday accessories,... Read more...
Image Source: Flickr (William Murphy) Apple is on the hook for 13 billion euros (around $14.5 billion in U.S. currency) in back taxes owed to Ireland after the European Union ruled the company had dodged its tax obligations by taking advantage of a loophole. Naturally Apple isn't happy about the ruling. Apple chief executive Tim Cook got so riled up about the situation that he dropped a C-bomp, calling the ruling "total political crap." "I think we'll work very closely together, as we have the same motivation. No one did anything wrong here and we need to stand together," Cook told Irish Independent in an interview. "Ireland is being picked on and this is unacceptable. It's total political crap."... Read more...
Ah, to be the CEO of a multi-billion dollar corporation, wouldn't that be the life? Oh sure, there are daily stressors that come with the territory, but so does a lopsided compensation package. Apple CEO Tim Cook knows this better than most. As part of a predetermined plan, Cook last week sold a chunk of Apple shares worth $36 million. Sure beats working overtime for a few extra bucks, doesn't it? Normally when a high ranking official cashes in on company shares worth tens of millions of dollars, questions are raised about the health of the firm. That's especially true when it's the top dog shedding company stock. In this case, the timing of Cook's sell-off came just weeks after Apple reported... Read more...
Apple CEO Tim Cook recently celebrated his five-year anniversary as CEO and the one billionth iPhone sold. Cook argues that his job, however, is not always a bucket of lollipops and rainbows. The self-proclaimed “lonely” CEO recently sat down with The Washington Post to discuss the difficult and controversial topics like the future of iPhones, AI, the Chinese market, possible tax evasion in Europe, Project “Titan”, and the importance of AR. Perhaps the biggest surprise in the interview was the love Cook showed for augmented reality. Apple has largely stayed away from augmented reality, however, it has become more interested in the field thanks to the success of products like Pokémon GO. Cook... Read more...
Apple recently reported its first revenue decline in 13 years and its first ever year-over-year drop in iPhone sales. The consensus by some is that the market is saturated with smartphones and that Apple hasn't been an innovative company since the late Steve Jobs passed the torch to Tim Cook. Is that really the case? Cook says hold the boat. In an interview with CNBC's Jim Cramer, host of Mad Money, Cook called all the recent negative fuss over the iPhone amounts to a "huge overreaction." As far as Cook is concerned, the iPhone is far from dead, and the same is true of Apple as a whole, which generates the bulk of its income from iPhone sales. "We just had a, actually an incredible quarter by... Read more...
All good things must come to an end, and for Apple, that means its enviable winning streak when it comes to its quarterly earnings. Apple today reported its fiscal Q2 2016 results and it represented the first time that the company has witnessed a year-over-year sales decline for its popular iPhones. Apple sold 51.2 million iPhones during the quarter compared to 61 million during the same period one year ago. Apple generated $50.6 billion in revenue for the quarter and net income of $10.5 billion ($10.90 per diluted share). Most companies would kill for those kinds of numbers, but it was an off quarter for Apple — during the same period last year, the company pulled in $58.01 billion in revenue... Read more...
Apple finds itself stuck between a rock and a hard place while the world watches to see how it wriggles out. Not that Apple is in any way hiding from the public—in a recent television interview with ABC News, Tim Cook offered some expanded thoughts on why he's not willing to comply with a court order to assist the FBI with breaking into an iPhone that belonged to one of the San Bernardino shooters. The overarching fear is that creating a backdoor into a secured iPhone would set a dangerous precedent, one that could later be abused. Cook is adamant that such a thing would put hundreds of millions of iPhone users at risk, both abroad and here in the U.S. He even went so far as to say that the necessary... Read more...
It seems as though everyone has an opinion on Apple’s decision not to comply with the FBI’s request to unlock the iPhone 5c used by terrorists in December’s San Bernardino mass shooting. The noise surrounding the topic became louder when U.S. Magistrate Judge Sheri Pym ordered Apple to offer “reasonable technical assistance” to the FBI in unlocking device. The noise became deafening when Apple CEO Tim Cook fired back this morning, charging that the U.S. Government was overreaching. Never one to miss an opportunity to make his opinion known for all to hear, Donald Trump has spoken up on Apple’s decision to put up a blockade against the U.S. Government. In an interview this morning for Fox News’... Read more...
Ever since Tim Cook took over the reigns as CEO of Apple in 2011, the mild-mannered man from Alabama seemed quite the polar opposite of the late and great Steve Jobs. Whereas Jobs was often brash and had a knack for using incisive language to skewer opponents, Cook often takes a more measured approach and is by far less abrasive. But that southern charm has been stripped away following the decision by a U.S. Magistrate Judge Sheri Pym that would force Apple to provide backdoor access to an iPhone 5c that was used by the terrorists that killed 14 people during a mass shooting on December 2nd in San Bernardino, California. Up until this point, the mild-mannered Cook has spoken in a firm tone about... Read more...
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