Apple ‘Will Announce New Services This Year,’ Says Tim Cook

Apple CEO Tim Cook gets big salary hike second year in a row

Apple CEO Tim Cook gets big salary hike second year in a row

CNBC shared some of the major points earlier today, but one of the more interesting parts that came out of the full interview was Cook's stance on how the iPhone XR - the company's other iPhone it launched late a year ago alongside the iPhone XS and XS Max - is faring out there in the market.

Apples average worker earns $55,426 which implies that Cook's compensation, excluding his restricted stock, is 283 times what an average Apple employee makes.

Apple on January 2 cut its revenue outlook for the latest quarter, citing steeper-than-expected "economic deceleration" in China and emerging markets. "I don't want to tell you about what they are-", Cook told Jim Cramer of CNBC's Mad Money w/ Jim Cramer.

There are two potential services that Cook could have been talking about during the interview. "I've heard it in 2001, I've heard it in 2005, in '7, in '8, in '10, in '12 and '13". Cook says he's "heard this over and over again" and isn't anxious. His opinion is that Apple's culture of innovation and the ecosystem of products are "probably underappreciated".

Packers confirm hiring of Matt LaFleur as coach
And I think that holds true for me as well. "We are committed to winning, there's no doubt about it, and he's a competitor". The Packers are confident they've landed their guy in LaFleur, who fits the popular mold of the young, offensive-guru type.

Shares of Apple sank 10 per cent in the first session after the announcement, its worst day since 2013, contributing to a big pullback in the tech giant's stock market performance over the last three months.

"Lower than anticipated iPhone revenue, primarily in Greater China, accounts for all of our revenue shortfall to our guidance and for much more than our entire year-over-year revenue decline". Apple's stock grew to record highs past year before taking a big hit in the last quarter after Wall Street grew concerned over iPhone sales and production issues. This is exactly why we say "its good to be Apple's CEO". Cook doesn't sound anxious, though.

"We think about the long-term", he said. The product pipeline has never been better. "The services are on a tear", he said.

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

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