Apple holds annual shareholder meeting, Tim Cook talks competition, stock price, new product categories
Apple’s annual shareholder’s meeting was held this morning at the company’s Cupertino headquarters. These meeting are to allow shareholders to ask questions of Apple’s leadership, as well as hold elections for the board of directors. According to CNBC, the entire board was reelected, Apple’s accounting firm was approved, and a proposal to establish a Human Rights board committee was defeated. Additionally, Bloomberg reports that Tim Cook received 99.1% investor approval as CEO.
Following the formal company business, the meeting was opened up to a Q&A. Questioned about Apple’s new headquarters, Cook said that Apple was planning on moving into that building at some point in 2016. This is due to a delays caused by some redesigns of some aspects of the new campus, as reported in November.
Cook also took questions about the competition, the stock price, and future products. Cook said that while market share is important, the actions that Apple could take to gain market share quickly would ultimately be bad for Apple. Reuters says that Cook is aware that shareholders are disappointed by the current stock price, and that focus should be on the long term, and revenue and profits following. On new products, Cook said that Apple is exploring “new categories,” but did not elaborate on what those might be.
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