Tim Cook Promised New Services, said Qualcomm Promoted 'Fake News'

Tim Cook Promised New Services, said Qualcomm Promoted 'Fake News'

He also got perks of about US$682,000.

But Cook may struggle to deliver the same stellar performance as he did past year. Apple's stock grew to record highs a year ago before taking a big hit in the last quarter after Wall Street grew concerned over iPhone sales and production issues.

"As we've gotten into healthcare more and more through the Watch and through other things that we've created with ResearchKit and CareKit and putting your medical records on the iPhone, this is a huge deal", he continued.

Apple CEO Tim Cook talked with Jim Cramer about the key issues facing his firm.

At the time of writing, Apple was worth US$715bn after a slight recovery in the shares.

Apple earlier this month adjusted its earnings guidance, explaining that sales are expected to decline due to two different factors, namely the growing tension between China and the United States on import fees and the battery replacement program for the iPhone.

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Cook also addressed criticisms that the iPhone XR was a flop, calling it "baloney".

It would be the second time Apple has cut iPhone in the last two months if the report is accurate.

Analysts are making a mistake in not fully appreciating Apple's business, which is powered by a growing ecosystem of both devices and services. "So I'm not sure where that thinking is coming from", Cook said.

Cook gave the interview at a time when Apple is facing intense scrutiny following its recent warning that iPhone sales during the holiday quarter were lower than previously expected, the first time in almost 17 years the company has made such an announcement. Last week, Apple disclosed lower-than-anticipated demand for iPhones in China and elsewhere, and cut its revenue forecast for the first time in nearly two decades. All eyes will be on the March guidance as the key swing factor for the shares in the near term, they said.

The package included $3 million in base salary, $12 million in incentives awarded for performance and another $682,000 as "Other Compensation" (like personal security services and use of a private aircraft), the Cupertino-based company said in its filing late Tuesday with the US Securities and Exchange Commission (SEC) for the fiscal year that ended on September 30.

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