Apple CEO Tim Cook promises new products will ‘blow you away’
Apple CEO Tim Cook has promised investors the firm remains on track to double its 2016 revenues of almost US$25 billion next year, prompting a rise of more than 1 per cent in Apple stock on Friday.
Speaking at the firm’s annual meeting in Cupertino, Cook claimed Apple is “planting seeds” and “rolling the dice” on new products set to “blow you away”.
Cook indicated a range of new products under development for the Apple Watch and AirPods, and has previously stoked ongoing expectations for an AR glasses product. He also signalled an eventual drop in price for the MacBook Air laptop, currently retailing at US$1200, despite upgrading to a higher-resolution screen.
The shareholder meeting saw the entire Apple board re-elected, including former US VP Al Gore, and included a political discussion that emphasised a variance in political ideology with that of the current US administration, despite an acknowledgement that the firm has worked successfully with the US government.
It also implied criticism of other big tech firms who maintain data profiles of its users, such as Facebook.
Cook said the company was also continuing to evaluate new businesses to buy to build its technology capabilities.