Tim Cook Speaks At Goldman Sachs
Tim Cook, CEO of Apple spoke this morning at Goldman Sachs Technology and Internet Conference. Cook covered a lot of ground with questions being asked across a broad range of topics. These included Apple’s cash pile, the lawsuit filed against Apple by Greenlight Capital that Cook referred to as, “it’s a silly sideshow, honestly”, Apple’s culture of innovation, and about Apple’s products.
When asked, “How do we think of Apple’s culture of innovation?”
Tim replied, “It’s never been stronger. Innovation is so deeply embedded in Apple’s culture. The boldness, ambition, belief there aren’t limits, a desire to make the very best products in the world. It’s the strongest ever. It’s in the DNA of the company.”
Further into the interview Tim was asked if Apple reached a natural limit? Tim stated, “There’s that word limit” and he then made it clear that Apple doesn’t use the word limit in their vocabulary.
Tim also said, “In addition, it’s fueling an incredible economic gain for developers. We’ve paid over $8 billion to developers.”
Apple has gone from a company with a few hundred million in revenue a year to adding over $10 billion in revenue every year.
When it comes to Apple products there have been questions about Apple coming out with a more affordable iPhone. Tim was asked, “For prepaid customers, the iPhone is not affordable. How do you think about creating a great customer experience?”
“We wouldn’t do anything we wouldn’t consider a great product. There are other companies that do that, and that’s just not who we are.”
Some have wondered if Apple would make a cheaper Mac and Tim’s response to that was “We concluded we couldn’t do a great product, but what did we do was invented the iPad.” Tim feels you can take the issue and you can solve it in a different way.
The tablet market is another big chuck of the technology world and Tim feels it will continue to be a huge opportunity for Apple. “It’s one of those areas showing software, hardware, services being integrated and creating an experience that is jaw-dropping.” Going into sales numbers, HP sold 15 million PCs last year and Apple sold more iPads than HP’s entire line-up. Apple plan is to triple those numbers in the next 4 years.
“On the tablet, you can see the whole of Apple coming out here. I have no idea what market share is, we’re the only company that really reports the units we sell.”
Tim ended the talk with how proud he was and stated:
“I’m incredibly proud… I’m most proud of our employees. They’re there to do not only that great work, but the best work in their lives. They’re there to do it without limits, they’re the most creative in the world. It’s a privilege. I’m incredibly proud of the products, we have the best smartphone on the market, we have the best tablet on the market, we have the best digital music player on the market. For those things we elect to do, and we continue to focus on a few, they’re really great. I’m incredibly bullsih about the future and what Apple can do and more contributions it can make to the world.”
To list to the full audio of Tim Cook follow this link to Apple’s official site.