Apple COO Tim Cook Speaks at Goldman Sachs Conference

Discussion in 'MacRumors.com News Discussion' started by MacRumors, Feb 23, 2010.

  1. MacRumors macrumors bot

    MacRumors

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    Apple Chief Operating Officer Tim Cook today participated in a Q&A session at the Goldman Sachs Technology & Internet Conference, and while he did not offer any major revelations, some of his comments offered a bit of perspective on Apple's business, including comments on the Apple TV, iPad sales channels, exclusive carrier relationships, and other topics. Here is a paraphrased summary of some of the key points:

    Q: Where do you see things going with the Apple TV?
    A: It's still a hobby, but our gut tells us there's something there. The go-to-market model is difficult, and we have no interest in being in the TV market. But we have continued to invest in the Apple TV and will keep doing so.

    Q: Are all pieces of the iPhone OS platform complete or is there more to come?
    A: The word "complete" isn't in our dictionary. We're always innovating and always looking to obsolete ourselves. The ecosystem and platform are really good, and the foundation is in place, but clearly it will continue to get better.

    Q: How will you sell the iPad?
    A: We'll start with Apple's direct channels, such as online, retail, education, etc. We'll also pursue indirect sales channels like Best Buy's store-in-a-store concepts. Internationally, we have a very good premium reseller program that we'll also use. Over time, sales channels will expand.

    Q: What are the advantages and disadvantages of Apple's exclusive relationship with AT&T for iPhone and iPad?
    A: Simplicity, and the ability to work with the carrier on new features such as visual voicemail on original iPhone. For multi-carrier models, in some countries, carriers have very "sticky" relationships with customers and thus a multi-carrier model greatly enhances potential sales. In Apple's top ten iPhone countries last year, five were single-carrier countries. Three were by contract, and two were by choice were we could add additional carriers at any time. In 2009, we added carriers in France, UK, Singapore, Scandinavian countries, Canada. In every single country, our units increased significantly. So we made really good decisions. But I'm not saying it would be the case in every country. We look at things on a country-by-country basis.

    Q: Would other carriers have to match AT&T's pricing on the iPad service to even have a shot?
    A: AT&T's pricing is truly revolutionary. But I wouldn't want to speculate on what someone else might have to do to join the party.

    Q: Where do you see retail store expansion going?
    A: Early on, we set a range of 25-50 as our goal. We've been at the high end of that range and the low end, but we like that pace. In 2008, the world started to fall apart with the economy. We thought it would be better to slow down and wait for great properties to come on the market. That did happen, and we're ready to take advantage. We're turning the dial back up and will be near the high end of the range this year.

    Q: Why did you launch your own processor for the iPad? What was missing?
    A: Apple has for years been in the silicon design business. On PowerPC, Apple always personally crafted the northbridge and southbridge chipsets. It's not new to us. For the iPad, we felt we had the best knowledge of what we wanted the silicon to do and were in the best position to do it ourselves rather than going to someone else offering something that wasn't really exactly what we wanted. At the end of the day, we want to make the world's best products. By doing it ourselves, we were putting ourselves in the best position to do so.

    Q: How would you describe your corporate acquisition strategy?
    A: Technology and talent. Typically small companies. We've looked at big companies, but nothing has totally fit. If we find a large one, we won't be shy about it, but we won't do it to do it. We're not about having the highest market share or revenue...we want to make the best products. Acquiring a company simply to boost our revenue wouldn't be something we'd consider.

    Q: Is there a chance of hubris creeping into the company?
    A: People are our number one asset, and the executive team spends a lot of time thinking about recruiting and retaining great talent. We've said no to a lot of good products, great products even, in order to remain focused. That focus is so ingrained that the management team would never let hubris take hold. That's not what we're about. Focus on people and ensure that it's a small list of things to work on. That's the magic behind us.

    Article Link: Apple COO Tim Cook Speaks at Goldman Sachs Conference
     
  2. StuddedLeather macrumors 6502a

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    #2
    And not one question about MacBook Pro's. . . How ironic.
     
  3. ouimetnick macrumors 68020

    ouimetnick

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  4. jo0 macrumors regular

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    i think at&t will be around for a very very long time. apples to exclusive to be invclusive.
     
  5. anthorumor macrumors 6502a

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    #5
    That's what I was thinking also. Perhaps the interviewer was already satisfied with his MBP that he bought a week prior to the Q&A.
     
  6. I WAS the one macrumors 6502a

    I WAS the one

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    Apple will be making their own processors for all their products, that way no one can do hackintoshes again, and it will be a very controlled environment. Apple style!
     
  7. hypermog macrumors regular

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    It's like rain on your wedding day
     
  8. Noobrosi macrumors newbie

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  9. sebimeyer macrumors member

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    #9
    "the management team would never let hubris take hold."

    Seeing how humbly that answer was formulated, I am very relieved. :p

    I think he was referring to the products though.
     
  10. enberg macrumors regular

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    #10
    "People are our number one asset", eh? You'd hope the second banana of a big company would be above spouting cliché.
     
  11. Noctilux.95 macrumors 6502

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    Why is anyone from Apple speaking at a conference by the biggest crooks in the world?
     
  12. jcque macrumors member

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  13. zedsdead macrumors 68040

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    Q: Where do you see things going with the Apple TV?
    A: It's still a hobby, but our gut tells us there's something there. The go-to-market model is difficult, and we have no interest in being in the TV market. But we have continued to invest in the Apple TV and will keep doing so.

    Glad to here they are still planning to invest, but I just want a NEW APPLE TV! It has seen NO new hardware aside from the slight bump in storage since it was created, over three years ago.
     
  14. fabulicious macrumors member

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    #14
    No MBP talk

    Oh? Didn't you know? Apple's just the all-things iPhone/iPad company now with the iPod (of any type) being the tag-along kid brother. Everything else runs a distant second. :rolleyes:
     
  15. ouimetnick macrumors 68020

    ouimetnick

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    That would suck.
     
  16. Sabenth macrumors 6502a

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    sounds like the usual blabber to me spoon feed everyone with stuff avoid answering anything with an actual answer that people want to hear and carry on as per normal
     
  17. twoodcc macrumors P6

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  18. grayskies macrumors regular

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    -interesting read on the whole

    I like the statement of never letting "hubris take hold".

    -that statement sounds prideful to me
     
  19. fabulicious macrumors member

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    #19
    So Apple's more than willing to sell their soul to to the devils (AT&T) just to make a quick buck. :mad:

    Looks like AT&T ponied-up MORE money to keep the iPhone MONOPOLY going in exchange for the additional "getting" of the iPad.

    Quite an ethical company some of you praise.

    PS Glad I'm in Canada (one of the countries listed above) that DOES have a multi-carrier choice.
     
  20. Morod macrumors 68000

    Morod

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    That's the first thought that sprang into my head also. Of all the companies to be linked with, GS is the worst!
     
  21. MacFly123 macrumors 68020

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    #21
    I can really see that happening in the next 5 years or so as they build out the iPhone OS platform.

    "Q: Where do you see things going with the Apple TV?
    A: It's still a hobby, but our gut tells us there's something there. The go-to-market model is difficult, and we have no interest in being in the TV market. But we have continued to invest in the Apple TV and will keep doing so."

    I am so glad to hear this! :D My guess is that they are transitioning the Apple TV to the iPhone OS to add the SDK and App Store and integration with iPad, iPhone, and iPod Touch! FINALLY! But yes please give us a hardware refresh this year Apple!

    I also love that he said... "we have no interest in being in the TV market" to shut up all the delusional people that think Apple will make a TV with Apple TV in it! :rolleyes:

    Ha, the only thing ironic about that song is that Alanis Morissette does not know the definition of irony! :rolleyes:
     
  22. Vmaatta macrumors regular

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    #22
    Oh reeeeaaalllly… iPhone is still the the only one-carrier-exclusive phone in Finland :eek:. The first and only ever so far… :rolleyes:
     
  23. NT1440 macrumors G4

    NT1440

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    #23
    Why would they ask such a boring question? :confused:
     
  24. omenatarhuri macrumors 6502a

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    #24
    It sure looks like Apple is going strongly towards what Steve said in the iPad launch, "a mobile devices company". They're investing more in developing the iPhone OS instead of OS X. Most public interest (other than this forum) is in iPads/Pods/Phones instead of computers. And they never update their laptops. :(

    Too bad, they make the most kickass machines.
     
  25. zombitronic macrumors 65816

    zombitronic

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    #25
    Awesome quote, even though this is inherently true for most technology companies.
     

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