Apple’s Tim Cook Promises “Game Changers”

on May 29, 2013

Apple Inc.’s (NASDAQ:AAPL) Chief Executive Officer Tim Cook on Tuesday, May 28 addressed concerns that the company had lost its ability to innovate, saying that it “has several more game changers” in the pipeline.

Are you looking for signals & alerts from pro-traders? Sign-up to Invezz Signals™ for FREE. Takes 2 mins.

Speaking in an on-stage interview at the annual All Things Digital conference in Rancho Palos Verdes, California, Cook talked about his plans for television and declared interest in wearable devices, not forgetting to mention the goggle-esque computing device Google Glass made by rival Google Inc
**Wearable computing**
Cook said that wearable computing was “an area where it’s ripe for exploration” and opined that there would be “tons of companies playing” in that segment of the market but declined to confirm whether Apple was working on a device in that particular category. What has become clear, however, is that Cook doesn’t see the eye as the most appropriate part of the human body to be targeted with a wearable device, while the wrist, was a natural option. Apple has been rumoured to be making a watch-like computing device that would offer some of the functionalities of smartphones.

“What’s most interesting is that Tim Cook spent much time talking about the future of wearable devices,” said Kuo Mingchi, an analyst covering the Apple supply chain at KGI Securities Co. in Taipei, as quoted by Bloomberg. “Wearable devices would complete the Apple ecosystem, yet the technology is not yet mature enough.”
Cook also said that the company had “grand vision” for television, beyond the existing $99 Apple TV streaming device, but he didn’t go into details. He only highlighted that Apple had sold 13 million units of the set-top box so far, exceeding in-house expectations.

**Apple still ‘cool’**
Asked whether the company had lost its innovation streak, Cook responded “absolutely not” and went on to list statistics of device sales and usage. However, he acknowledged that the sudden decline in the Apple share price was frustrating. The stock has lost 44 percent of its value since September last year, when it reached an all-time high of $702.10. The fall in the share price has diminished Apple’s market value

by some $280 billion – more than the entire market capitalisation of Google, Reuters noted.
!m[Chief Executive Officer Tim Cook ](/uploads/story/2590/thumbs/pic_1_inline.jpg)
Apple is feeling a lot of pressure in mobile devices from rivals such as Samsung Electronics and Google, which has claimed large chunks of the market in terms of hardware shipments and software. But the Cupertino-based company shouldn’t put focus on market share, according to Cook.
“What we have to do is focus on products,” he said. “If we do that right, if we make great products that enrich people’s lives, then the other things will happen.”
**The Apple share price was $443.05 as of 14.35 GMT, 29.05.2013**


Want easy-to-follow crypto, forex & stock trading signals? Make trading simple by copying our team of pro-traders. Consistent results. Sign-up today at Invezz Signals.

Learn more
Manufacturing Stock Market Tech