Tim Cook: Apple is ‘looking at new categories’ for potential products

“While some investors are worried about recent stock losses, Apple remains focused on the long term, and is exploring new potential product categories, CEO Tim Cook revealed on Wednesday,” Neil Hughes reports for AppleInsider.

“While investors have sent Apple’s stock on a nosedive since late 2012, Cook said at his company’s annual shareholder meeting on Wednesday that he believes it’s been ‘an incredible year of innovation,'” Hughes reports. “He noted that Apple grew by about $48 billion in fiscal 2012, which was more than Google, Microsoft, Dell, HP and Research in Motion (now known as BlackBerry) combined.”

Hughes reports, “Cook also hinted that his company could go in new directions in the future, but unsurprisingly offered no specific details about what his company could be working on. ‘Obviously we’re looking a new categories,’ Cook told shareholders.”

Read more in the full article here.

27 Comments

    1. Unfortunately, even if the obvious is stated repeatedly, the analysts may still ignore it. Sometime you just have to wait for months or years until the BS is purged from the system.

      I will stay long Apple until I find a better candidate. That has not happened, yet. The company is still doing fine. The main things that have adversely affected AAPL over the past six months are analyst herd mentality and shared hysteria. Analysts have to keep making public pronouncements to keep their name in the game, and speculation seems to be far more popular than facts and technical analysis. Anyone who relies heavily on generally bogus hindsight-based explanations to guide future investment is doomed to failure.

  1. Just because analysts can’t see potential new markets apple will create doesn’t mean that apple will not do it. Just because analysts don’t see the enormous value of apple doesn’t mean $148 billion isn’t there. This isn’t a tree falling in a forest without an observer.

    1. @ the other Mike:

      Well, where is this innovation that Apple is looking into? Is there some reason Cook can’t give investors an anticipation of when he might actually deliver something entirely new? His incessant hand-wringing has to end soon, because under Cook’s timid leadership, Apple is acting more and more like MS.

  2. Before I make this negative comment about Tim Cook..let me start by saying: War Eagle!

    Tim needs to stop acting like a kid with self-esteem problems. Be like Steve. Reveal nothing and work hard to amaze the consumer and just report profits every quarter.

  3. Tim has worn out this rhetoric. He should think of something else to say. Nobody believes him. Well, maybe somebody believes him (see participants in this forum) but investors don’t believe him, the media doesn’t believe him, the tech world doesn’t believe him. He is unbelievable. So for everyone who thinks everything with the once great company is going to be okay with Tim at the helm, I say – think again. That is, if you are capable of having an intelligent thought and not just defaulting to name calling for those who actually see what’s happening. Like me.

    1. Once again, I’m an investor and I believe that Apple is doing fine. Then again, I am always patient with Apple and their secrecy pleases me. Of course it drives many into a doom and gloom mode.

      I’ve never resorted to name calling you but I have pointed out, and I am once again doing so now that you post a singular diatribe again and again without adding any diversity to other topics on the forum. That is what is getting you pegged as a troll and other names that are starting to build you a reputation here.

      In fact it’s really quite simple, as you said it in your post.
      “if you are capable of having an intelligent thought”

      Yes, I’ll concede that there is some merit in your intelligent thought. I don’t agree with it, but that is not the point I wish to bring up. The point that I wish to bring up is for you to consider whether or not “you are capable of having intelligent thoughts.”

      I did read your other post about you saying you had no clue on who could replace Tim Cook. That is definitely something to consider. Yes Tim Cook may be as you point out nose diving Apple. However, without considering the alternatives you might find that another CEO might nose dive Apple faster, and even do a crash and burn. That’s a pretty big consideration.

      I myself am patient and giving Tim Cook the benefit of the doubt. He has the support of the board, the management team and the stockholders (I did point out that I am one of them) voted him back in with a large majority of support.

      I think Apple is still a great company, but clearly Steve Jobs was magic and that actually might be impossible to replace. With Tim Cook at the helm the stock has dropped from ~700$ to ~450$ but that’s a lot better than another potential CEO that may have caused the drop from ~700$ to say ~100$.

      Once again, saying that Tim Cook needs to go may indeed be an intelligent thought. Saying that Tim Cook needs to go AND suggesting some replacements is indicative of intelligent thoughts and possibly some pretty good discussions.

      1. Some deep thoughts. However, no profitable growing company will ever sell below it’s cash value. In this case, the $100. It would be a private company or taken over by anyone using Apple’s own cash and resources.

        1. What you say is true, I’ll admit that I was pulling the numbers out of my hat to prove that the possibility of Apple’s stock descent could be worse with someone other than Tim Cook.

          Your points are well taken, and actually I do enjoy reading your posts on this forum, but I think I may have said that to you already. At any rate, have a good one.

      2. As an owner of the company, my reaction to what’s happening is the same as it’s been throughout the history of Capitalism. I would suggest that we shareholders form a search committee and find a CEO who is capable of leading the once great company back to the forefront of innovation. I would tell the committee to find someone capable of inspiring the world with his personal appearances by articulating a vision for the future than the stale rhetoric of repeating over and over that there were some “great products” in the pipeline and then delivering only routine tweaks that impress absolutely no one. Tim has zero credibility with Wall Street. Maybe it’s an undeserved judgement but it is the nature of Wall Street to be cruel. Cruel drives CEOs to success or sends them into retirement – usually with riches beyond imagination. That should be Tim’s next destination because he does not command any respect. Every time he speaks, AAPL takes another hit. The most profound example was this week when the stock market was have a gangbusters day of setting a five year high, AAPL went south and the ONLY explanation was that Tim made some more useless comments at the shareholders meeting. He’s reached the point that even if he came up with something new to say, nobody would care. It’s time for Tim to go. It really is.

        1. Cruel, as it relates to Wall Street, is an emotional tag that isn’t justified. Wall Street is all about profits. Profits imply timeframe. Some of Wall Street invests for long-term profits but most don’t. Regardless of timeframe, at the core you make a profit in investments by buying low and selling high. So Wall Street saw AAPL at a high and sold. Now they see it at a low and are buying back in. They didn’t see AAPL going higher than 705 within their timeframe or they wouldn’t have sold. They do see it going higher than 450 or they wouldn’t have bought. We know this to be a fact because in the timeframe between selling high and buying low *nothing* has changed at Apple: Not the product line nor the leadership. To change the leadership now would put into jeopardy their 450 investment. And that’s why you are alone in calling for the ouster of Tim Cook.

        2. All right, let’s dance a bit with that, even though I don’t agree with some items.

          So I take it you are a shareholder as well. First of what happens at Apple is not the same as everyone else. They are secretive. They are not in debt up to their eyeballs, they make a very good profit. Wall Street has zero credibility with them. They make great products, but it takes a while (years) between them. They also make dud products.

          My point is that it will take a while, years perhaps close to a decade for a product from the Apple Team that will encompass Tim Cook’s signature. Until then, calls for his resignation and replacement are premature.

          Tim Cook has not revealed Apple’s product development path. It’s the same approach Steve Jobs and Apple has had. Status quo maintained.

          I think your biggest plus is when you say you need to “find someone capable of inspiring the world with his personal appearances by articulating a vision for the future” but that does not necessarily mean replacing a CEO. I take it you remember Guy Kawasaki, Apple’s first evangelist. CEO’s as a group are not rock stars, like Steve Jobs or..or..or…well see what I mean? Steve Jobs was great at articulating the future when he had a product to present. At other times it was secrecy. I kinda like Tim Cook lulling everyone to sleep prior to delivering a WHAMMY product (and I am not including iPod, iPad, upgrades. Until then I am willing to give him the benefit of the doubt at least until I see the new MacPro, and it better be good.

          More and more at the core of our argument you are dissatisfied with the way Tim Cook speaks. I really don’t care, as long as he delivers. I’m patiently waiting to see the next delivery from Apple. Then we’ll see.

          1. I agree with you, Road Warrior.

            And I suspect ppeterson bought while Steve Jobs was at the helm, on faith that the stock would continue its climb. And then when Steve picked Tim (in essence, Steve was the CEO Search Committee ppeterson now wants to convene), ppeterson was okay with that (ppeterson didn’t sell) but this was still faith in Steve Jobs. Now ppeterson has lost money in AAPL and therefore has lost faith in Steve’s judgement of who is best able to lead Apple forward. If my suspicions are correct, this is not a problem with Steve or Tim or Apple or Wall Street but with the investment strategy of ppeterson.

            1. Yup yup, I know but I was kinda hoping to get him to consider other topics at the forum. The guy scares me, it’s like he’s obsessed with Tim Cook.

              Anyway once again, he’s off posting the same diatribe up above. Take care Jim.

      3. We apologize for the apologetic tone of Road Warrior’s the opening paragraph and offer the following correction:

        “Once again, I’m a(n) DAY TRADER and I HOPE that Apple is doing fine. Then again, I am EVER HOPEFUL with Apple and their secrecy PISSES ME OFF. Of course it NECESSARILY DIRECTS many into REALITY mode.”

    2. ppeterson has worn out his cook bashing rhetoric. He should think of something else to say.. Nobody believes him. Well, except the wallstreet hedge people, analcysts, and tech journalists that he parrots.

      His everyone is wrong is except for me attitude is a mirror of the wallstreet entitlement (heck, USA culture in general) mentality.

      Apple will be just fine as long as Tim Cook and Apple in general focus on great products and NOT wallstreet

  4. The “investors” did not send “Apple’s stock on a nosedive”! That would be those shorting and using analyst and others to drag Apple down.

    Also, everyone spits on Apple because Apple hasn’t created the next big thing. Ever notice, those that want to copy the next big thing are never trashed for the lack of ANY innovation. It is like they are squeezing the next innovation out of Apple now because they need something new to copy.

    1. True, but I feel like our technology is eh, the iPhone was really innovative for 2007, and made everyone feel like we were finally in the future. I am starting to feel outdated now though. I want to feel the future again. I want some mind blowing tech that makes me think: “man, how is this even possible.” I am happy to see apple being pushed, and even more excited seeing Tim and Co’s calm, confident reactions (makes me thing something new is coming).

      1. Yes, Apple’s research and developers are and will develop those next big things. However, it is time for Tim Cook and Apple’s board to do their job while the world waits. Apple is a publicly traded company and it is their job not to have the stock tank 35% over almost a half year now. It is past time to act now!

    2. Also, only companies who’s stocks are under fire who have the resources, facts, money and man power can defend their shareholder’s and stock value. Oh, and who has SOMEONE TO MAN UP AND DO THE RIGHT THING 5 MONTHS AGO!

      We are still looking for someone to step up soon. Are we holding off for bigger losses before Apple and the board react?

      1. Apparently that is exactly what we are doing. If the collapse of AAPL – or even the lack of a substantial recovery – doesn’t occur, hopefully Tim will have chaired his last meeting of the shareholders. Hopefully.

        1. err… should be – If the collapse of AAPL continues – or even the lack of a substantial recovery doesn’t occur, hopefully Tim will have chaired his last meeting of the shareholders. Hopefully.

        2. It is not just Tim Cook. (However, upgrading everything right at Christmas and the late iMac deliveries cost us about 10% after January’s quarterly report. Tim wasn’t doing what he does best there.) Where are the good TV ads like “I am a Mac and I am a PC”. Why can’t Apple expand their markets while creating new ones. Example, a car iPod / radio? Take an hours profit and buy a market you are not in yet. Example, I can not buy a CAM software package used to create the G codes that run the world’s CNC machines for my Mac. Why? Either buy an existing company or write the code or give them some Mac programers for a few months.

          Apple is to big to take 2 or 3 years for the next big thing. “Think Different” was the marching orders at one time.

      2. Apple’s Board and CEO are not Wallstreet. They have ZERO control on what the stock does. Spinning their wheels and wringing their hands over something that they cannot control is a waste of time and productivity.

        Worrying about stock price instead of products have led to disaster actions like the dividend, which of course is never enough or good enough. Not one single dividend payout happened before the bitchers started demanding more and more. Apple needs to look inward to R&D, not to wallstreet

        Focus on products and the future, and future products. That is something they have complete control over.

        BTW, to all the posters and investors who think that Apple’s cash pile is their personal piggy bank and playground, they are wrong. That money was put there by ME (and of course customers like me who purchase Apple devices) Shareholders did nothing to put money into Apple’s cash pile unless they purchased Apple products, and if thats the case, they have already received their return/ reward, a great product.

        If investors are angry about Apple’s tumbling share price (and they SHOULD be) don’t complain to Apple, complain to your congressman, complain to the SEC, whine and moan about the unfair laws that allow short sellers to profit from someone else losing money, and the journalists analcysts and TV personalities who lie to manipulate the price for their own personal gain, witness the tweeting manipulation by Kass.

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