Apple’s chief executive officer Tim Cook has not lost spirit even as the company is passing through a depressing phase. During the company’s annual general meeting (AGM), Cook delivered a speech that fills investors with enthusiasm.
In his pep talk, Cook said he has “never been more optimistic” about the way company is making progress. Addressing the investors, Cook said Apple is “planting seeds” and “rolling the dice” on future products, which will “blow you away.”
Future Apple Products & Services Will “Blow You Away”: Tim Cook
In his speech, Cook highlighted that Apple is planning to double its revenue from Services business in 2020 from approximately $25 billion in 2016.
In addition to the Services, Tim Cook also spoke about Apple’s product categories. Company’s primary focus is to reduce the price of the MacBook Air laptop, which is available at $1200.
Notably, after the speech, Apple shares increased more than 1% in afternoon trading Friday in New York; the stock was down before the statement.
Since iPhone sales witnessed low uptake in 2018, investors expect Apple to launch something big. The slump in iPhone sales led Apple’s first holiday-quarter decline since 2001.
In his address, Cook mentioned augmented reality, which can change the picture for the company. Apple is working on a pair of augmented reality glasses.
Simultaneously, the company is also serious about its Services business growth and increasing sales of Apple Watch and AirPods.
In its efforts to make overall progress, Apple acquired 18 companies in 2018, and there are more acquisitions in the offing.
When investors asked questions about privacy, diversity, and politics, Tim Cook took a jibe at Facebook and Google. Cook was censorious about the two companies as they build user data profiles.
On the same line, Cook assured that Apple is in favor of imposing stricter laws against such practice.
From what Bloomberg reported about Tim Cook’s speech, we can sum up that Apple is more focused on the development of wearables (smartwatch and AirPods). Furthermore, the tech giant will surely invest more in its Services business in the future.
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