Apple's Tim Cook got big pay bump in 2018: filing

Modesto Morganelli
Gennaio 10, 2019

Apple earlier this month adjusted its earnings guidance, explaining that sales are expected to decline due to two different factors, namely the growing tension between China and the USA on import fees and the battery replacement program for the iPhone.

And despite the iPhone clearly declining, Apple CEO Tim Cook says there's no reason to worry, explaining that those who criticize the company do the same thing every once in a while.

"In terms of the naysayer, I've heard this over and over again", Cook said in his interview with Jim Cramer. "I've heard it in 2001, I've heard it in 2005, in '7, in '8, in '10, in '12 and '13".

AdvertisementThe company warned last week that iPhone upgrades for the last quarter were lower than expected. "(.) Also, if you take AirPods and the Watch separately, and you sort of back these up and align it to the launch date of iPod as well (.) you will find that each one independently is like four to six time ahead of where iPod was in a comparable amount of time", he said. His opinion is that Apple's culture of innovation and the ecosystem of products are "probably underappreciated". Its announcement that it now sees sales of $84 billion, well below the range of $89 billion to $94 billion that it forecast in November, sent company shares down almost 10 percent.

In his letter to investors, Cook blamed much of the shortfall on China, where the company underestimated a decelerating economy. The ecosystem has never been stronger. Apple saw a decline in sales of iPhones, Macs and iPads there.

Cramer's full interview with Cook airs on CNBC tonight at 6 p.m.

When it comes to the iPhone XR being a flop? "I'm very optimistic that this will happen".

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