Apple's greatest contribution to mankind will be health, says Tim Cook

Maricruz Casares
Enero 10, 2019

Apple earlier this month adjusted its earnings guidance, explaining that sales are expected to decline due to two different factors, namely the growing tension between China and the United States on import fees and the battery replacement program for the iPhone. All these excludes the $121 million that Apple's CEO vested this year from stock while he still has over about $189 million (1.5 million Apple shares) worth of stock that hasn't vested.

"In terms of the naysayer, I've heard this over and over again", Mr Cook told the network. "You can probably find the same quotes from the same people over and over again".

AdvertisementThe company warned last week that iPhone upgrades for the last quarter were lower than expected.

Cook went on to say that he's "not defensive on it", adding that he believes "there is a culture of innovation in Apple and that culture of innovation combined with these incredible, loyal customers, happy customers, this ecosystem, this virtuous ecosystem, is something that is probably underappreciated". Apple saw its shares tank 10 per cent after its revenue revision announcement in its worst day in the past six years.

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"We think about the long-term", he said.

In his letter to investors, Cook blamed much of the shortfall on China, where the company underestimated a decelerating economy. The product pipeline has never been better. Apple skims a juicy 30 per cent from these sales.

In his interview with Cramer, Cook said trade tensions between China and the USA created the sharp downturn, but he said he believes the situation is temporary.

"It's in both countries' best interests to come to an agreement", Cook said. "I'm very optimistic that this will happen".

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