Tim Cook claims Apple just had an ‘incredible quarter’, teases ‘great’ iPhone innovation
You don’t need to be a financial analyst or pundit to tell, based on common sense and elementary math, that a company posting quarterly revenue of over $50 billion and $10.5 billion net profits in today’s economic climate is doing pretty darn well by any standards.
That’s the main, straightforward point Apple CEO Tim Cook tried to get across in an extensive interview with CNBC’s Jim Cramer for the finance TV talk show “Mad Money” on Monday following a “huge overreaction” by Wall Street in the wake of Cupertino’s latest earnings call.
Cook even took the time to highlight his juggernaut’s Q1 2016 returns were higher than “any other company”, as was the case for the whole of last year, when Apple made a whopping $53 billion in profits, and the second most successful corporation earned less than half that huge pile of cash.
Bottom line, there’s no reason for investors to liquidate their stock, as even in China, Apple grew 70 percent “on a two-year basis”, expecting further sales progress, thanks chiefly to the regionally popular iPhone SE.
Elsewhere, India is believed to show “huge market potential”, though exploiting it continues to prove tricky, and in “many other” countries, Android users might be persuaded to switch over to the “dark side” by future upgrades and features “that you can’t live without that you just don’t know you need today.” A hint for groundbreaking new technologies inside the iPhone 7?
It could be, but speaking of things people don’t need today, the Apple Watch will “all of a sudden be an overnight success” in a few years, when more and more skeptics shall embrace it and ask themselves how they possibly lived without it all this time. In other words, the wearable device is already a hit, but we just don’t know it yet, and it’ll get “better and better” once its maker learns to market and sell it on a wide scale.