Apple gave its chief executive Tim Cook a hefty 22 per cent pay raise in 2018, bringing his total compensation for the year to nearly US$15.7 million (RM64.6 million), according to a filing submitted to the Securities and Exchange Commission.
The disclosure rattled investors, some of whom viewed the weakened forecast as a sign the company lacks a major new gadget after the iPhone, a device that critics say has been priced too high.
If you need evidence of this, go back just a few days ago to when Apple made that bombshell announcement that its holiday quarter revenue is going to come in softer than expected.
"In terms of the naysayer, I've heard this over and over again", Cook said in an interview Tuesday with Jim Cramer on CNBC. "There will be more things coming", he said. "But they're things that we feel really great about, that we've been working on for multiple years", he said near the end of the interview. I don't want to tell you about what they are'.
Cook's comments that the Apple Watch represents 5 percent of sales and growing at 45 percent while Air Pods represents 1 percent of sales and growing at 87 percent is consistent with estimates.
"On the healthcare, in particular, and sorta your well-being, this is an area that I believe, if you zoom out into the future, and you look back, and you ask the question, 'What was Apple's greatest contribution to mankind, ' it will be about health".
Apple on Wednesday said it stood by Cook's comments.
He also got $294,082 in personal travel expenses. On a trailing basis (.) the revenue from wearables is already 50 percent more than iPod on its peak. Recently, the company added ECG feature to its Apple Watch Series 4, paving way for preventive heart care.
Apple and Qualcomm have been locked in a legal battle in which Apple has accused Qualcomm of engaging in illegal patent licensing practices to preserve a dominant market position in so called modem chips, which help mobile phones connect to wireless data networks.