Apple CEO Cook says company's future products will "blow you away"

Apple CEO Cook says company's future products will
Apple held its annual stockholder's meeting today and Bloomberg reports that CEO Tim Cook spoke about what the future holds for the company. With iPhone sales sluggish (revenue from the device dropped 15% year-over-year during the holiday quarter), Apple is concentrating on its second largest business, services. The most profitable segment of Apple's operations, the group includes Apple Pay, the App Store, iTunes, AppleCare, Apple Music and more. Cook says that Apple is on pace to hit its target of $50 billion in services revenue next year from $25 billion in 2016.

This doesn't mean that Apple isn't working hard on new devices to sell. Cook told those at the meeting that Apple is "planting seeds" and is "rolling the dice" on new products for the future that will "blow you away." The company launched the original Apple iPhone in June 2007 and the iPad tablet in April 2010. Since then, it has upgraded its devices and introduced accessories for them such as the wireless AirPods earphones. The company also released its HomePod smart speaker in February 2018, although its expensive price and Siri's limitations have prevented Apple from challenging category leaders Amazon and Google.

With Tim Cook gushing in the past about Augmented Reality, the next big thing out of Apple could be AR glasses. Back in June 2017, Loup Ventures analyst Gene Munster said that these so-called Apple Glasses will become bigger than the iPhone. You might want to pay attention to what Munster says since back in the summer of 2017, he forecast the current struggles that the iPhone is experiencing. The analyst says that once Apple Glasses are released, the iPhone will no longer make up the majority of the company's revenue. Last May, Munster revised his original prediction of a 2020 launch of the AR glasses. He now expects them to be released in 2021.

Cook says that fantastic products are on the way

Cook also told Apple stockholders to expect a "long, great roadmap of fantastic" products including the AirPods sequel and Apple Watch Series 5. Apple added a new ECG feature on the latest Apple Watch to help users check for abnormal heart rhythms like atrial fibrillation (AFib). Cook hinted that more health features will be coming to the timepiece. The company has been looking for a way for wearers to obtain a blood glucose reading. Diabetics normally have to stick themselves with a lancing device several times a day to draw the blood they need to get a reading, which tells diabetics how much insulin they need to take.

Apple's CEO also noted that it acquired 18 companies last year. Usually, Apple buys smaller outfits under the radar. The company's largest acquisition was the $3 billion purchase of Beats Audio in 2014, although there are always rumors of a mega-acquisition involving Disney or Netflix. The executive also criticized companies that collect data from their users like Facebook and Google, and noted that Apple is pushing the U.S. government to create regulations against such practices.

At the meeting, Apple's entire board of directors was re-elected. The board members include Cook, former VP Al Gore and Disney CEO Bob Iger. The company recommended that stockholders vote against a proposal that would reveal the political leanings of board members, and they did. Only 1.7% of the votes received were in favor of the proposal.

The stockholders meeting took place inside the Steve Jobs Theater in Apple Park, located in Cupertino. During the event, Apple's shares closed at $174.97, up 1.05% on the day. Apple is now valued at $825 billion, well short of the more than one trillion dollars that the company was worth over the summer. With a market cap of $863 billion, Microsoft is now the most valuable publicly traded U.S. firm. Despite losing the throne to Microsoft, Tim Cook says that he has "never been more optimistic" about Apple's current business and its future prospects.



1. htcisthebest

Posts: 437; Member since: Nov 15, 2011

I'm sure it will blow the customer away from buying its products.

4. sgodsell

Posts: 7514; Member since: Mar 16, 2013

Apple has had a lot of time to blow away it's customers. So now the AR glasses are coming in 2021, and not 2020. Time waits for no one. The competition is using the leading technologies today. Just look at MWC (Mobile World Congress). Foldable smartphones/tablets, flight of time 3D scanning cameras, ultrasonic finger print scanners, vibrating displays that act as speakers, wireless charging smartphones, Gorilla Glass 6, and a more. Apple just re-patents what others have already made. Proof is in the pudding Timmy. So far, no proof.

13. blingblingthing

Posts: 979; Member since: Oct 23, 2012

Remember Apple fans typically don't check competing products, so when iPhone finally gets it, it's always new to them and innovative.

22. sleepypandaeyes

Posts: 381; Member since: Apr 12, 2015

Unfortunately with certain apple zealots they tend to not look at facts and prefer to rewrite history. Some guy was telling me how samsung copied their curved display from the iPhones 6 2.5d screen even though the galaxy round predates it by a few years, how they copied the Iwatch when the galaxy gear came out 2 years prior, and how samsung only started doing bezelless phones after the iPhone x

46. Phullofphil

Posts: 1828; Member since: Feb 10, 2009

Look dude your high if you think Samsung dont ow its whole galaxy line to apples iphone. That and android. I had Samsung phones and they were alright but nothing without copping apple and also nothing without the help of google getting android up and running. Samsung is just a great hardware company but They ow everything to the success of apple. They copied the whole idea of what the iPhone did and can do in the future. They make nice phones but without android they would not even make it this far. There design is is a direct rip off of apple. But see I don’t care about either company. I like my iPhone but keep it mostly because I have a lot of my apps bought on iOS. I still think that well until I see a s10 (they look awesome) that the iPhone is a better phone and iOS i like better than android but at this point it’s so close it does not matter and I could go either way. I may get a Samsung note 10 in September depending on the new iPhone design.

50. wickedwilly

Posts: 740; Member since: Sep 19, 2018

I think it is you that is high and living in the past. Apple copied to get to the iPhone, they copied to bring out the iPhone. Yes they helped moved phones on to the next stage, but then fell into a malaise and went back into copy mode. Android owed more to previous mobile operating systems than IOS and once developed Apple has been trying to catch up for at least 5 years. In terms of hardware everything from the 6th series onwards was following Android phones including Samsung. The X was basically a clone of what Android phones had developed to some time before. You can prefer iPhones or IOS, but you are ignorant of the recent history if you think Samsung and or all Android OEMs owe everything to Apple.

52. mackan84

Posts: 609; Member since: Feb 13, 2014

They owed to iPhone 5s with its 64-bit soc but since then the rest has been so diverse and intuitive that the only way to stay relevant has been to steal what works on androids phones.

45. Phullofphil

Posts: 1828; Member since: Feb 10, 2009

Oh yeah I like apple and you completely wrong.

37. tuminatr

Posts: 1158; Member since: Feb 23, 2009

You missed what he is saying apple is going to have a line of iFans next year

2. Pureviewuser1

Posts: 160; Member since: Mar 28, 2016


3. obedchuni

Posts: 338; Member since: Jun 16, 2014

IPhone 4s was the only product that blown me away.

42. drifter77

Posts: 402; Member since: Jun 12, 2015

That was my last iPhone, switched to Android afterwards.

5. mixedfish

Posts: 1563; Member since: Nov 17, 2013

"Introducing the next iPhone with the all new most innovative....use of Samsung amoled with camera hole, first time an iPhone now has no notch so innovative"

47. Phullofphil

Posts: 1828; Member since: Feb 10, 2009

No secret apple dis not make there parts. They design the phone with the best parts they can get. They sell so much that a lot of company’s make a lot of money. There was Inovation from the iPhone that changed everything. Refining the phones as hardware advances is all we have left. Samsung has a big advantage in that because they make the hardware. You all are weird with all your weird childish rivalry. Making fun of iPhone fans when your only making fun of the same stuff you do yourself

48. sgodsell

Posts: 7514; Member since: Mar 16, 2013

"There was innovation from the iPhone that changed everything". Now the competition is changing everything. You can only ride that dead horse for so long. Phullofphil that horse your on, stinks! Get off it.

6. Derekjeter

Posts: 1546; Member since: Oct 27, 2011

They said that in 2012 and in the last 7 years it’s been the same ole design, hardware, software and BS prices. Let’s face it, Samsung and Huawei are leading the pack in innovation. I’m seriously thinking of retiring my iPhone 7 Plus for the S10. It just doesn’t look good for Apple.

39. iushnt

Posts: 3138; Member since: Feb 06, 2013

I am in the same verge. Thinking to retire my 7 Plus for S10.

7. LawnBoy

Posts: 203; Member since: Feb 23, 2019

I have a better chance of being blown away at a bus stop in Queens than by anything Apple puts out

28. DareDevil01

Posts: 65; Member since: Jan 15, 2012

lmao thats messed up.

8. Ghost04

Posts: 522; Member since: May 03, 2014

Yes .... It will blow my pocket. It will blow my bank .

12. blingblingthing

Posts: 979; Member since: Oct 23, 2012

Maybe the phone will have an app to allow you to declare bankruptcy.

54. RebelwithoutaClue unregistered

Would have been handy for Trump in the past

9. shm224

Posts: 295; Member since: Mar 19, 2015

Well, we all know Apple didn't buy Beats for their awesome, PUAHAHAHA, sound quality.

10. PhoenixFirebird

Posts: 127; Member since: Oct 10, 2016

Apple blown me away with its price.

11. cncrim

Posts: 1590; Member since: Aug 15, 2011

He had neen said same last 6 years, all the same crap. Come on Tim you are business man not visionary, a small change you will call it innovation and want charge premium price for it.

15. CreeDiddy

Posts: 2270; Member since: Nov 04, 2011

Your making assumptions. Apple has nearly $300 billion in cash. They can buy an entire sports league. They will find a way to stay relevant for years to come.

24. Back_from_beyond

Posts: 1459; Member since: Sep 04, 2015

All of that cash is tucked away in tax havens and they can't spend it without paying loads of tax on it. Add to it the tens of billions Apple has in debt worldwide and that supposed $300billion evaporates quickly.

41. cncrim

Posts: 1590; Member since: Aug 15, 2011

That cash pie Tim inheriting from iphone ipad Steve Job left him. Since Tim took over I only see you call innovation is Smart watch and punch of accessories. Apple still have great team of engineers, but without a great management. It will going no where. With that much cash she can still stay relalavant. However, can she lead that is what I want to see, not a camera improvement and another dongle.

51. mootu

Posts: 1537; Member since: Mar 16, 2017

"Apple has nearly $300 billion in cash" Apple has no where near $300 billion in cash, they have $120 billion net cash, that is money that is theirs and that they can spend (Tim Cook's statement Jan 2019) They do have $240 billion in the bank but have $120 billion in debt, they retain this debt for tax evasion purposes as companies with large amounts of debt pay lower taxes. This $120 billion is money they cannot spend and is not really Apples, it is to cover said debt.

14. CreeDiddy

Posts: 2270; Member since: Nov 04, 2011

Tim is hinting that the iPhone will be all glass. So the image of the home screen will cover the camera lens when not in use. Time of flight will appear this year. 3D Touch and FaceID will control all apps and passwords throughout the phone. Foldable phone isn’t their mainstream product, but a niche product. Apple A-series will be MacBook Pro ready. Apple streaming services will rival Netflix. MacBook and iPad will converge. All these headlines will come to reality.

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