Apple stockholders hold annual meeting

Apple's stockholders' meeting today was supposed to include voting on Carl Icahn's non-binding proposal, suggesting that Apple buy back $50 billion of its shares. But Icahn recently withdrew the motion, which took the excitement out of the meeting. The highlight turned out to be shareholders re-electing eight board members, including former Vice President Al Gore.

CEO Tim Cook made some interesting comments. Comparing the first OG Apple iPad to the Apple iPad Air, he called the former tablet "embarrassing." And after bragging about the all-time tech record of $171 billion in revenue that Apple brought in last year, Cook told the stockholders in attendance, "We want to grow more. And this morning, we want to unveil some new products ..." But Cook admitted he was just kidding, taking the air out of the room.


Many in the room didn't appreciate the joke, which reminded  many of the the stockholders attending, that Apple hasn't had an innovative new product since 2010.



source: MercuryNews, Bloomberg