Tim Cook: Stock market decline “frustrating” to Apple, but products remain the main focus

Tim Cook

Here’s why I love Apple: the company knows its focus and its goal and – regardless of outside pressure (particularly from investors, shareholders and the stock market) – it remains committed to creating innovative products.

During the introduction to this quarter’s financial results call, Tim Cook took time out to call out the recent slump in stock market valuation and called it “frustrating”. However, he and Apple remain clear on what their goal is: “creating innovative products” and ensuring that it keeps the long term in mind, and not trying to manipulate stock value for short term gain.

Growth has slowed for Apple year-on-year, and although it did make record revenues, profit margins are lower than they were in the year ago quarter. Cook explained that it was down to a couple of factors: 1) harsher economic conditions (particularly foreign currency exchange levels) and  2) As mentioned previously, the profit margin on the iPad mini is lower since the aim was to get a great experience in to the consumers’ hands for a lower price.

In all, the tone was very “stick that in your pipe and smoke it, Wall Street, we’re not changing, we’re Apple”. And I – for one – absolutely love that resolute dedication to the vision. It’s what’s made Apple great for so long, and what will continue to serve it well in the future.

 

Tags: , , , ,