Tim Cook Responds To Apple's Tanking Stock

tim cook

Photo: AP

Apple’s 2-hour shareholder meeting is today in Cupertino, California.The meeting recently adjourned and during the Q&A, Tim Cook was asked about Apple’s tanking stock price.

He replied:

“I don’t like it either. Neither does the board or management — where the stock trades now versus a few months ago — but we’re focused on the long term.”

He added that Apple has some exciting things in its pipeline.

“We are in markets that are fast growing … Obviously we’re looking at new categories — we don’t talk about them, but we’re looking at them,” Cook said.

“It’s been an incredible year of innovation at Apple,” he said, noting that the company grew about $48 billion during the last fiscal year. That’s more than Google, Dell, Microsoft, HP, RIM, and Nokia combined.

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