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Apple CEO Tim Cook has just completed a Q&A session with analyst Bill Shope at the Goldman Sachs Technology and Internet Conference. While we liveblogged the event with a rough transcript of Cook's comments, here are a few of the highlights:

- Worker safety: Addressing ongoing publicity about working conditions at Apple's suppliers' facilities, Cook reiterated his position that no company is doing more or being more transparent about the issue than Apple. Cook specifically addressed Apple's efforts to address underage labor, safety, and excessive overtime. Apple has also partnered with the Fair Labor Association to conduct what is likely the largest and most extensive audit in manufacturing history. Apple will also be continuing to collect its own data and will be releasing it monthly on the company's website.

- iPhone growth: Dryly noting that Apple's record-smashing sales of 37 million iPhones during the holiday quarter led to "a decent quarter", Cook noted that 90% of mobile phone purchasers and 75% of smartphone purchasers are still choosing something other than an iPhone. Consequently, Apple still has remarkable room to grow.

- Emerging markets: Cook noted that Apple has placed significant energy on emerging markets, with China being the primary focus but Brazil and Russia also receiving attention. While the iPod created a halo for the Mac and other Apple products in developed markets, that didn't work for emerging markets. It took the iPhone to generate that momentum in those countries. In China, Mac grew 100% year-over-year compared with 10% for the broader industry. The Mac growth was from a small base, but still demonstrates significant momentum. Revenue across Apple's emerging markets has grown from $1.4 billion in 2007 to $22 billion in 2011.

- iPad growth: Cook noted that no one could have predicted 55 million units at this point, by far the fastest growth ever for an Apple product. The iPad benefited significantly from an established base of users familiar with the iPhone and iPod and from the established infrastructure of the iTunes Store and App Store.

- Competing tablets: Addressing the Kindle Fire and other cheaper competitors, Cook noted that price is rarely the most important thing for consumers. Long-term, people aren't happy about getting a good deal on a terrible product. Cook noted that he loves competition (as long as other companies "invent their own stuff") and that he believes Apple's innovation will drive things forward.

- Stock buybacks/dividends: Cook noted that Apple is judicious with its cash, and acknowledged that the company currently has much more cash on hand than it needs to run its day-to-day business. He acknowledged that discussions on the topic at board meetings have ramped up as Apple's cash hoard has grown, but asked for patience as Apple considers its options and works to make the best decision for shareholders.

- Apple TV: Cook reported that Apple still considers the Apple TV to be a "hobby", in the sense that it shouldn't be thought of as a major pillar of Apple's business. That said, Apple has always felt that if it kept "pulling the string", there would be something there. Consumer satisfaction is reportedly off the charts and sales are growing quickly.

- Siri and iCloud: Cook's belief is that iCloud is the strategy for the next decade, enabling users to access their content from anywhere. iCloud already has over 100 million users just months after launching. Siri, on the other hand, is a profound change in input methods in Cook's view, and he notes that never before had he considered a beta product to be indispensable.

- Cook's legacy: In a question that seemed to have caught Cook a bit off-guard, Shope asked what Cook believes his stamp on Apple will be and what he will seek to maintain. Cook seemed to very much be speaking from the heart as he focused on the latter portion, outlining the culture of Apple and how important a factor it has been in Apple's success.
The most important is the second part. Apple is this unique culture and unique company. You can't replicate it. I'm not going to witness or permit the slow undoing of it. I believe in it so deeply.

Steve grilled in all of us over many years, the company should revolve around great products. We should stay extremely focused on a few things, rather than try to do so many that we did nothing well. We should only go into markets where we can make a significant contribution to society, not just sell a lot of products. These things, along with keeping excellent as an expectation, these are the things that I focus on.
Cook has participated in this Goldman Sachs event a number of times in the past, but this was his first time as CEO and provided a rare opportunity outside of the company's earning conference calls for him to address questions from those who follow the company from the outside.

Article Link: Tim Cook at Goldman Sachs: Worker Safety, iPhone and iPad Growth, and Financial Strategy
 

Santabean2000

macrumors 68000
Nov 20, 2007
1,807
1,854
He is trying hard to say all the right things. I wonder though, what will happen in a couple of years, post Steve, when the company needs new vision on its products and operations.

Will "Steady as she goes" be enough?
 
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bbeagle

macrumors 68040
Oct 19, 2010
3,429
2,694
Buffalo, NY
.... Steve grilled in all of us over many years....

The horrors! I never thought Steve was THAT much of an arse to GRILL his co-workers.

Actually, if it said what it was supposed to say, 'drilled', that sounds a little worse maybe (but would make a good movie)
 
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hoing

macrumors member
Aug 7, 2010
69
0
Yada Yada Yada. No one cares. All they need is the silly apple logo on the back and they will buy it! Such is the life of an american. Status > Perfomance. Oh Sheeple. :confused:
 
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extensor

macrumors member
Feb 6, 2006
69
0
Yada Yada Yada. No one cares. All they need is the silly apple logo on the back and they will buy it! Such is the life of an american. Status > Perfomance. Oh Sheeple. :confused:

I doubt you actually believe what you just wrote.
 
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GQB

macrumors 65816
Sep 26, 2007
1,196
109
He is trying hard to say all the right things. I wonder though, what will happen in a couple of years, post Steve, when the company needs new vision on its products and operations.

Will "Steady as she goes" be enough?

Yes, Apple is doomed because only Steve worked there, and single handedly conceived and executed every idea for the past 10 years.
Glad you told me so that I could sell my AAPL.
Gracias.
 
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jdpruitt

Suspended
Oct 15, 2011
28
4
I listened to the live broadcast and I gotta say: I really like this guy.

He seems to "get it." I would feel much better if I knew he took a few LSD trips, though. :D
 
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fupresti

macrumors regular
Jul 2, 2010
174
0
Yada Yada Yada. No one cares. All they need is the silly apple logo on the back and they will buy it! Such is the life of an american. Status > Perfomance. Oh Sheeple. :confused:

Shouldnt you be droning on in an Android forum about how awesome the Samsung Galaxy Skyfire SII 4G LTE Limited Edition Note with commemorative stylus is?
 
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ABernardoJr

macrumors 6502
Dec 19, 2006
364
0
Yada Yada Yada. No one cares. All they need is the silly apple logo on the back and they will buy it! Such is the life of an american. Status > Perfomance. Oh Sheeple. :confused:

Rather than wasting time on someone so clueless (to put it VERY politely) with a long response, I'll just say that you should keep your mouth shut (or your posts to yourself in this case) when you think about stereotyping any nation (or people).
 
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*LTD*

macrumors G4
Feb 5, 2009
10,703
1
Canada
He is trying hard to say all the right things. I wonder though, what will happen in a couple of years, post Steve, when the company needs new vision on its products and operations.

Will "Steady as she goes" be enough?

Scott Forstall will be enough.
 
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TallGuy1970

macrumors 6502
Jun 16, 2010
323
0
Yada Yada Yada. No one cares. All they need is the silly apple logo on the back and they will buy it! Such is the life of an american. Status > Perfomance. Oh Sheeple. :confused:

The only thing even more popular than Apple products, is criticizing Apple, its products, and those who buy them. Talk about Sheeple and parrots and all other sorts of non-thinking, mimicking animals!
 
Comment

*LTD*

macrumors G4
Feb 5, 2009
10,703
1
Canada
- Competing tablets: Addressing the Kindle Fire and other cheaper competitors, Cook noted that price is rarely the most important thing for consumers. Long-term, people aren't happy about getting a good deal on a terrible product.

Ouch.
- Cook's legacy: In a question that seemed to have caught Cook a bit off-guard, Shope asked what Cook believes his stamp on Apple will be and what he will seek to maintain. Cook seemed to very much be speaking from the heart as he focused on the latter portion, outlining the culture of Apple and how important a factor it has been in Apple's success.

"The most important is the second part. Apple is this unique culture and unique company. You can't replicate it. I'm not going to witness or permit the slow undoing of it. I believe in it so deeply.

Steve grilled in all of us over many years, the company should revolve around great products. We should stay extremely focused on a few things, rather than try to do so many that we did nothing well. We should only go into markets where we can make a significant contribution to society, not just sell a lot of products. These things, along with keeping excellent as an expectation, these are the things that I focus on."

I'm liking what I'm reading here. Quite encouraging. It's important, however, for Tim to hang on to Scott Forstall. Scott's going to be a big influence in a big way at Apple. He already is, but this is just the tip of that particular iceberg.
 
Comment

Lesser Evets

macrumors 68040
Jan 7, 2006
3,511
1,277
Apple TV: Cook reported that Apple still considers the Apple TV to be a "hobby", in the sense that it shouldn't be thought of as a major pillar of Apple's business. That said, Apple has always felt that if it kept "pulling the string", there would be something there. Consumer satisfaction is reportedly off the charts and sales are growing quickly.

Up it to 1080i, get your HD library maxed out with everything possible, and win.
If you treat it like a hobby, pulling that string only flushes the toilet.

Yada Yada Yada. No one cares. All they need is the silly apple logo on the back and they will buy it! Such is the life of an american. Status > Perfomance. Oh Sheeple. :confused:

No one likes you. Not even your mother.
 
Comment

Coltaine

macrumors regular
Jan 7, 2012
221
216
Well done, Tim Cook.

Very smart guy.

I think Steve Jobs put Apple into the right hands.
 
Comment

gnasher729

macrumors P6
Nov 25, 2005
17,939
5,470
Worker safety?

Very important to Apple.

"Cook reiterated his position that no company is doing more or being more transparent about the issue than Apple. Cook specifically addressed Apple's efforts to address underage labor, safety, and excessive overtime. Apple has also partnered with the Fair Labor Association to conduct what is likely the largest and most extensive audit in manufacturing history. Apple will also be continuing to collect its own data and will be releasing it monthly on the company's website."
 
Comment

Rogifan

macrumors Core
Nov 14, 2011
22,416
28,204
Ouch.


I'm liking what I'm reading here. Quite encouraging. It's important, however, for Tim to hang on to Scott Forstall. Scott's going to be a big influence in a big way at Apple. He already is, but this is just the tip of that particular iceberg.

The entire executive team is important. I'd be surprised if any of them left any time soon. Though if Forstall has his eyes set on being CEO will he hang around if that doesn't happen in the next few years? Honestly I see Cook holding on to that spot for as long as he wants it.

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Well done, Tim Cook.

Very smart guy.

I think Steve Jobs put Apple into the right hands.
Agreed. I think Cook's the right guy for the job and I have high confidence he'll make the right calls more often than not like Steve did. Steve and the board knew what they were doing when they handed over the reigns to Cook.
 
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Santabean2000

macrumors 68000
Nov 20, 2007
1,807
1,854
Yes, Apple is doomed because only Steve worked there, and single handedly conceived and executed every idea for the past 10 years.
Glad you told me so that I could sell my AAPL.
Gracias.

Yeeeeeess. Because that's what I said...:rolleyes:

You can't deny though, that Steve was ballsy enough to make big calls when he needed to.

From what I understand of Tim Cook, (which admittedly is somewhat limited having never met the guy), is that he's a real 'nice guy', incredibly hard working and the model of efficiency.

But would he, for example, be brave enough to say to the iTV/:apple:TV Team, if he believed the product wasn't ready, "Sorry team, it's not ready; it won't ship now."

The 'iTV' is a bad example, because it already has Steve's finger prints all over it, but you can imagine the same scenario of product X in the future.

Scott Forstall will be enough.

I hope so too. Or perhaps Tim can step up. Either of these possibilities is quite possible.
 
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