Subscribe / Unsubscribe Enewsletters | Login | Register

Pencil Banner

Apple CEO tells staff the AAPL share price 'isn't our focus'

Karen Haslam | Jan. 31, 2013
During the meeting Apple CEO Tim Cook discussed Apple’s latest earnings, the state of the AAPL share price, moves to manufacture in the US, competition with Google, plans for green living, and more.

Apple's corporate employees gathered last week for a 'Town Hall' meeting at Apple's Cupertino Campus's De Anza 3 auditorium.

During the meeting Apple CEO Tim Cook discussed Apple's latest earnings, the state of the AAPL share price, moves to manufacture in the US, competition with Google, plans for green living, and more.

Q1 2013 Financial results

Cook told his colleagues: "We just had the best quarter of any technology company ever"

Apple's declining stock price

Cook made it clear that share price is not Apple's focus.

Exxon

Cook said: "The only companies that report better quarters pump oil I do not know about you all, but I do not want to work for those companies."

New employee discount

Last year Cook introduced an Employee Purchase Plan (EPP) providing discounts of around $500 off an iMac, $250 off an iPad, and so on. Now Apple has expanded it to include discounts on unlocked iPhones. The latest iMacs and iPad minis will also be available for discount (until now they have been constrained).

Partners and ethics

Facing scrutiny over its manufacturing and labour practices, Apple has nearly doubled the number of audits it conducted in its worldwide supply chain. In a Supplier Responsibility Progress Report, released this week it emerged that Apple had fired Guangdong Real Faith Pingzhou Electronics Co for using 74 workers under the age of 16. In the Town Hall meeting Cook said: "We want our partners to be as ethical as we are."

China and emerging markets

Cook mentioned his recent trip to China. He also noted the importance of other emerging markets.

Move to manufacture in the US

Cook reiterated that Apple plans to move the manufacturing of one of its lines of Macs to the US this year. He said that this is not a PR move, but rather a strategy to increase Mac production.

Product production problems

On that note, Cook explained that Mac sales were low in the quarter because Apple could not manufacture enough Macs. He claimed Apple sold every Mac that it could build.

Green energy

Cook announced that Apple intends to power all of its data centers with 100% renewable energy by the end of 2013.

Retail gloom

Cook noted the drop in retail employee satisfaction, claiming that Apple is working hard to improving the happiness of its retail employees. Cook also confirmed that Apple's search for a new head of retail is still active.

The competition - Android

Cook mentioned Google, comparing iOS's integrated experience to Android's fragmentation and plethora of devices. He also noted that iOS has huge web traffic compared to Android's smaller web marketshare and noted that while Android might be running on more devices, people use iOS more.

 

1  2  Next Page 

Sign up for CIO Asia eNewsletters.