Apple held its shareholder’s meeting at its Cupertino headquarters this morning, and from what we’ve gathered of the consultation, things ran pretty smoothly. The annual event allows shareholders communicate across any concerns they may have to corporate officers, take care of many aspects of corporate business (such as the re-election of the board of directors), and casting votes on proposals made. CNBC’s Jon Fortt has the inside scoop, and notes that all directors were re-elected, the fruit company’s accounting firm was approved, and an an advisory vote pertaining to executive compensation was passed.
Tim Cook, having completed his first full year as CEO, has constantly drawn comparison with Steve Jobs, co-founder and preceding helmsman of the Cupertino company. While many have commented on his emollient nature versus the, shall we say cogent personality of Jobs, he’s certainly doing a good job in the eyes of investors, with his overall approval at 99.1%. Not bad we must say.
At a certain point, there was a Q&A, and Tim Cook took the opportunity to note of his awareness that share price is not has high as many had hoped, but in the same breath, was also keen to emphasize the long term, and the subsequent revenue and profits forecast. Cook also promised that the company is working on "new categories", and although we cannot help but speculate on the heavily-rumored connected TV or iWatch, the company’s CEO declined to go into any further detail.
Naturally, the rumor mill will pick up on Cook’s comments and the slightly quieter murmurings regarding both purported products will begin to gather steam once more. The last we heard, Apple had a dedicated team of over 100 designers and engineers working and developing the iWatch, and with Samsung also said to be preparing something similar to perhaps coincide with the release of the Galaxy S IV, things could get very interesting in the smartwatch category as we head towards the summer.
Talk of Apple stepping up its push on the TV market has been ongoing ever since the first-gen Apple TV first arrived, but as yet, save a few minor changes here and there, the company hasn’t really pushed itself to compete in this market. Could this be about to change?