Apple’s CEO Tim Cook released a statement on Wednesday in order to reassure shareholders that the future of the company is not affected in any way by the diminishing stock prices. He declared that the Cupertino-based manufacturer is preparing new breakthrough products that will maintain Apple among the top smartphone producers in the world.
Apple has experienced a small downfall in share prices lately, but Tim Cook, the CEO of the company claims the drop is absolutely normal. In his opinion, the 37 percent plunge is a result of the fact that people don’t spend too much money on electronic devices during the first quarter of the year; they prefer to do this around the Christmas holidays.
Cook tried to calm down shareholders by telling them that the future products that the company plans to release will most likely improve the current condition of the company. Wall Street analysts, however, were not pleased with the foggy estimates that the CEO has provided, so they demanded a clearer declaration. The chief executive preferred to speak about the future plans of the company, revealing the fact that Apple is planning to produce breakthrough devices that will maintain the leading position of the company.
Various rumors have surfaced in relation to the products that Apple could launch in the near future. The Internet-connected watch, also known as iWatch, has been long announced by the iPhone manufacturer. Also, there are many possibilities for an improved Apple TV set to be presented by the end of the year. Shareholders ventured into making their own assumptions during the Wednesday’s meeting. They suggested Cook to produce a computerized bicycle, an idea that seemed to please Apple’s CEO as he, too, is an avid cyclist.
Apple’s fans and shareholders, alike, hope the company will be able to produce an unprecedented product as they haven’t seen a trailblazing device since Steve Jobs’ death in October 2011. Apple’s stock closed at $444.57 after losing $4.40.