Apple CEO Tim Cook has promised his shareholders that when it comes to racing ahead in the innovative world, they are the number one. The performance of the iPhone makers has been slowed down and investors aren’t showing the same confidence in the company as they used to do before.
The company had sold the Apple TV set-top boxes, amounting to more than $1 billion in the previous year. He further added that the company was also looking forward to investing big in products of the next generation. Mr. Cook gave the information during the annual meeting of the company.
How Apple will again be on the same level as it used to be earlier in these days of fast-moving technology is what many investors are willing to know. Apple’s two big rivals in the industry – Google and Samsung are eating into the markets that Apple once dominated with ease.
Some industry observers are of the opinion that Apple will come up with a wearable device something like Smartwatch. There are also speculations doing the rounds for a very long time now that the US-based company will bring out a TV product for a better viewing experience in the comfort of your house.
Mr. Cook was asked about the innovative products that Apple may bring out in the near future. However, the CEO preferred not to comment anything immediately sighting the reason that it may usher in competition. The CEO added “You can see we are getting ripped off left, right and sideways.”
Apple’s expenditure on research and development increased by more than 30 per cent last year. The cost of Apple shares had touched a low in June at less than $400, which had crossed $700 a couple of years ago. Currently, they cost $526.24.