Feeds

Tim Cook dangles 'new product categories' carrot over $14bn Apple share buyback

'We're not ready to talk about it' says 'aggressive' CEO

Top three mobile application threats

Tim Cook has embarked on a massive $14bn share buyback in a bid to calm the nerves of tetchy Apple shareholders.

Shares dropped by eight per cent last week after Apple announced its quarterly results, which predicted a a slow down in revenue this quarter.

To reassure investors like Carl Icahn, who wants Apple to launch a $50bn buyback, Tim Cook announced a smaller $14bn share purchase during an interview with the Wall Street Journal.

"It means that we are betting on Apple. It means that we are really confident on what we are doing and what we plan to do," Cook explained. "We're not just saying that. We're showing that with our actions."

Cook said he wanted to be "aggressive", whilst still leaving enough dosh in the bank to snap up attractive firms.

Apple had bought 21 companies recently, Cook continued, and would happily break the budget if a possible purchase appealed.

"We've looked at big companies," said Cook. "We have no problem spending 10 figures for the right company, for the right fit that's in the best interest of Apple in the long-term. None. Zero."

In news that will pique the interest of fanbois everywhere, the fruity führer also said exciting new products were on their way.

"There will be new categories. We're not ready to talk about it, but we're working on some really great stuff," Cook added.

It is unclear what this category could be, but it has variously been predicted to mean an iWatch, a proper iTelly or a digital payment system, which should probably be dubbed iWant.

Apple is still "a growth company", Cook concluded, with a healthy lifetime ahead of it.

No doubt there will be a lot of people who say iHopeSo to that prediction. ®

Application security programs and practises

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Nadella: Apps must run on ALL WINDOWS – PCs, slabs and mobes
Phone egg, meet desktop chicken - your mother
White? Male? You work in tech? Let us guess ... Twitter? We KNEW it!
Grim diversity numbers dumped alongside Facebook earnings
Microsoft: We're making ONE TRUE WINDOWS to rule us all
Enterprise, Windows still power firm's shaky money-maker
HP, Microsoft prove it again: Big Business doesn't create jobs
SMEs get lip service - what they need is dinner at the Club
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
prev story

Whitepapers

Top three mobile application threats
Prevent sensitive data leakage over insecure channels or stolen mobile devices.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.