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CEO admits Apple is 'looking at new categories' for potential products

post #1 of 65
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While some investors are worried about recent stock losses, Apple remains focused on the long term, and is exploring new potential product categories, CEO Tim Cook revealed on Wednesday.

While investors have sent Apple's stock on a nosedive since late 2012, Cook said at his company's annual shareholder meeting on Wednesday that he believes it's been "an incredible year of innovation." He noted that Apple grew by about $48 billion in fiscal 2012, which was more than Google, Microsoft, Dell, HP and Research in Motion (now known as BlackBerry) combined.

Cook also hinted that his company could go in new directions in the future, but unsurprisingly offered no specific details about what his company could be working on.

"Obviously we're looking a new categories," Cook told shareholders. "We don't talk about them, but we're looking at them."

Apple TV


One rumored product that could be in Apple's future is a television set, which is said to have been in development at the company's Cupertino, Calif., headquarters for years. Currently, Apple's living room presence is represented by the Apple TV set-top box ??a product that has famously been referred to as a "hobby," but was recently upgraded to something of "intense interest."

Cook even publicly hinted in an interview last year that his company may have big plans for the living room. Speaking with Brian Williams of NBC, Cook said current television sets make him feel like he's "gone backwards in time by 20 to 30 years."

iWatch
Artist's rendition of purported Apple smartwatch. | Source: Yrving Torrealba


More recently, rumors have suggested Apple could also be working on wearable technology in the form of a watch accessory. Last week AppleInsider detailed a patent application that revealed Apple's behind-the-scenes interest in such a product, which could feature a curved-glass display.

One report from earlier this month claimed that Apple has a 100-person team working on a so-called "smartwatch." The team is said to have grown over the last year to include marketing, software and hardware personnel who previously worked on the iPhone and iPad.
post #2 of 65
Originally Posted by AppleInsider View Post
"Obviously we're looking a new categories," Cook told shareholders. "We don't talk about them, but we're looking at them."

 

I can just imagine those meetings. The entire Apple executive team sitting in a room, looking at a big projected screen with a bunch of categories on it. Jony suddenly stands up and wordlessly points at one of them, eyes wide, Cook expands the category and Jony goes and stands by one part of the expanded data like Vanna White, moving his eyebrows up and down. Mansfield then stands and does an interpretive dance explaining that it's physically impossible to make what Jony wants.

 

Cook gestures at him to try anyway.

Originally Posted by Marvin

The only thing more insecure than Android’s OS is its userbase.
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Originally Posted by Marvin

The only thing more insecure than Android’s OS is its userbase.
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post #3 of 65
New directions are fine, just don't abandon the Mac!
post #4 of 65

And the stock tanks because Cook says they're looking at them and doesn't actually show something off on stage. 1rolleyes.gif

post #5 of 65
Quote:
Originally Posted by Tallest Skil View Post

 

I can just imagine those meetings. The entire Apple executive team sitting in a room, looking at a big projected screen with a bunch of categories on it. Jony suddenly stands up and wordlessly points at one of them, eyes wide, Cook expands the category and Jony goes and stands by one part of the expanded data like Vanna White, moving his eyebrows up and down. Mansfield then stands and does an interpretive dance explaining that it's physically impossible to make what Jony wants.

 

Cook gestures at him to try anyway.

And thus begins Talkgate!  Now Apple will have to issue a press release (perhaps approved by the British Royal Court of Something, just to be on the safe side) clarifying that within the walls of 1 Infinite Loop, yes "sometimes we use our words" to communicate about unannounced products.

post #6 of 65

News flash!  Apple continues R&D.  More at 11:00.

/s

post #7 of 65
"He noted that Apple grew by about $48 billion in fiscal 2012, which was more than Google, Microsoft, Dell, HP and Research in Motion (now known as BlackBerry) combined."

Incredible stat, considering all the concern-trollling headlines about Apple's stalled growth, and the stock hit because of these headlines. Jesus.
post #8 of 65
Re: "One rumored product that could be in Apple's future is a television set, which is said to have been in development at the company's Cupertino, Calif., headquarters for years."

Maybe. But it might take a whole lot of piracy to enable an Apple television set (and Apple's disruption of the TV industry.) And that level of piracy may not really be possible until broadband (wired) internet is more pervasive and "real 4G" is rolled out with 1Gb/sec download speeds.

Only two things can push the incumbent TV industry players over the line to work with Apple: fear and greed. The fear will come from losing profitability due to rampant piracy (like that in the music business about a decade ago) or due to serious competition from upstart independents streaming content over the internet. The greed will come into play if Apple can dangle $$$ billions in front of the big TV players' noses to lure them in.

It's a race. Fear vs. greed. Ready. Set. Go!

Sent from my iPhone Simulator

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Sent from my iPhone Simulator

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post #9 of 65
I don't think Tim Cook's "joke" about Al Gore creating the Internet is very funny. In light of Gore's recent sale of his company, he should not even be a member of the Board of Directors!
post #10 of 65
Quote:
Originally Posted by ramartino View Post

Is this supposed to return value to my shares? What a joke! The company is sitting on over $136B in cash and Tim Cook thinks this is the Way to return value. The stock has tanked. The company has lost billions in shareholder value. The man is delusional

So sell your shares and invest in a company that isn't a joke with a delusional CEO.  I expect we'll survive your dumping your vast holdings onto the market.

post #11 of 65

Apparently one of their new technologies are secret buttons they can press to instantly boost their market share above everyone else.

post #12 of 65
Quote:
Originally Posted by Tallest Skil View Post

 

I can just imagine those meetings. The entire Apple executive team sitting in a room, looking at a big projected screen with a bunch of categories on it. Jony suddenly stands up and wordlessly points at one of them, eyes wide, Cook expands the category and Jony goes and stands by one part of the expanded data like Vanna White, moving his eyebrows up and down. Mansfield then stands and does an interpretive dance explaining that it's physically impossible to make what Jony wants.

 

Cook gestures at him to try anyway.

 

I visualized the exact same thing when I read that statement :)

In my version I imagine them pulling up to secret building in their Porsches in complete silence; walking into a showroom of various technologies and just looking at them while throwing knowing glances back and forth to each other.

post #13 of 65

Apple needs to buy Tesla.....  Apple could own the emerging EV market and have almost unlimited growth for the foreseeable future IMHO....

 

Could you image a Telas Model S or Model X with iOS integrated into it?

post #14 of 65
Quote:
Originally Posted by malax View Post

So sell your shares and invest in a company that isn't a joke with a delusional CEO.  I expect we'll survive your dumping your vast holdings onto the market.

 

Hear, hear!  Apple never was, nor will it likely ever be a dividend cash-cow.  If you're looking for that kind of instant return, AAPL is not for you.  It's exactly these types of attitudes that have sent the stock "tanking" this quarter.

post #15 of 65
Originally Posted by sranger View Post

Could you image a Telas Model S or Model X with iOS integrated into it?

 

I can.

 

But I can also imagine where Apple would take Tesla beyond just "electric vehicle". They'd literally reinvent the concept of a car. Tesla's already making the right kind of changes. Apple-y changes. Imagine what the teams could do combined.

 

And imagine what Tesla could do with Apple's battery knowledge.

 

While their competitors are releasing $40,000, 180MPC cars, Tesla would be putting out a $30,000, 500MPC car. 

Originally Posted by Marvin

The only thing more insecure than Android’s OS is its userbase.
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Originally Posted by Marvin

The only thing more insecure than Android’s OS is its userbase.
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post #16 of 65
"Obviously we're looking a new categories," Cook told shareholders. "We don't talk about them, but we're looking at them."


I'm betting he said, ``looking at new categories,'' ...
post #17 of 65
The rumor says Apple is working on a TV... Samsung rushed development and introduces a new "Smart TV"

The rumor says Apple is working on a Watch... Samsung rushed development and is said to be working on a "Smart Watch"

I think Apple should plant a rumor that it is working on a spaceship.
post #18 of 65
Quote:
Originally Posted by ramartino View Post

Is this supposed to return value to my shares? What a joke! The company is sitting on over $136B in cash and Tim Cook thinks this is the Way to return value. The stock has tanked. The company has lost billions in shareholder value. The man is delusional

then sell. no one is forcing you to invest. I got Apple in 2005 so I'm happy with a 440 price now. Don't get me wrong, I would love it at 700.

post #19 of 65
Quote:
Originally Posted by cgr111 View Post

In light of Gore's recent sale of his company, he should not even be a member of the Board of Directors!

His sale of Current TV, you mean?

Please explain. I'm looking for to hearing your explanation of this.
Citing unnamed sources with limited but direct knowledge of the rumoured device - Comedy Insider (Feb 2014)
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Citing unnamed sources with limited but direct knowledge of the rumoured device - Comedy Insider (Feb 2014)
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post #20 of 65
Quote:
Originally Posted by ramartino View Post

Is this supposed to return value to my shares? What a joke! The company is sitting on over $136B in cash and Tim Cook thinks this is the Way to return value. The stock has tanked. The company has lost billions in shareholder value. The man is delusional

The share price of Apple has far more to do with Doug Kass and his cronies than anything Apple has done. Apple are making more than $100M in profit every 4 days. They are performing.
Citing unnamed sources with limited but direct knowledge of the rumoured device - Comedy Insider (Feb 2014)
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Citing unnamed sources with limited but direct knowledge of the rumoured device - Comedy Insider (Feb 2014)
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post #21 of 65
Quote:
Originally Posted by winstein2010 View Post

The rumor says Apple is working on a TV... Samsung rushed development and introduces a new "Smart TV"

The rumor says Apple is working on a Watch... Samsung rushed development and is said to be working on a "Smart Watch"

I think Apple should plant a rumor that it is working on a spaceship.

Or green carrots.
Citing unnamed sources with limited but direct knowledge of the rumoured device - Comedy Insider (Feb 2014)
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Citing unnamed sources with limited but direct knowledge of the rumoured device - Comedy Insider (Feb 2014)
Reply
post #22 of 65

I'll file this under the "No @#$% Sherlock" category ... 

post #23 of 65
Quote:
Originally Posted by ramartino View Post

Is this supposed to return value to my shares? What a joke! The company is sitting on over $136B in cash and Tim Cook thinks this is the Way to return value. The stock has tanked. The company has lost billions in shareholder value. The man is delusional

 

Quote:
Originally Posted by malax View Post

So sell your shares and invest in a company that isn't a joke with a delusional CEO.  I expect we'll survive your dumping your vast holdings onto the market.

 

Hold your judgment. I suspect this is a drive-by troll from a one post wonder. We'll see.

post #24 of 65
Quote:
Originally Posted by GadgetCanada View Post

 

Best silent movie ever

No, this is: 


That would be top 5 at best!

post #25 of 65
Quote:
Originally Posted by Tallest Skil View Post

 

I can.

 

But I can also imagine where Apple would take Tesla beyond just "electric vehicle". They'd literally reinvent the concept of a car. Tesla's already making the right kind of changes. Apple-y changes. Imagine what the teams could do combined.

 

And imagine what Tesla could do with Apple's battery knowledge.

 

While their competitors are releasing $40,000, 180MPC cars, Tesla would be putting out a $30,000, 500MPC car. 

 

Exactly....

 

The main thing for me it the almost unlimited growth potential for Apple with this combination....

 

Tesla is premium brand like Apple.   Also Tesla is re-defining how you buy a car.  There are NO tesla dealers, just stores (actually designed by an ex Apple employee I think)...

post #26 of 65
iHat (top-of-the-head iOS experience)

iCarbonara (first eatable iOS release in history. It tells you "please don't eat me" when you open the box)

iUmbrella (its surface can detect up to 10 simultaneous water drop hits, and iOS informs you where each drop hits, through a synth voice ie: one to your right, three on your left, and so on. You can record rain sessions).

iPlain (the purest iOS product ever: no device, no media, no nothing, nada. Just iOS on the cloud, but without any cloud at all)
post #27 of 65
Quote:
Originally Posted by SockRolid View Post

Re: "One rumored product that could be in Apple's future is a television set, which is said to have been in development at the company's Cupertino, Calif., headquarters for years."

Maybe. But it might take a whole lot of piracy to enable an Apple television set (and Apple's disruption of the TV industry.) And that level of piracy may not really be possible until broadband (wired) internet is more pervasive and "real 4G" is rolled out with 1Gb/sec download speeds.

Only two things can push the incumbent TV industry players over the line to work with Apple: fear and greed. The fear will come from losing profitability due to rampant piracy (like that in the music business about a decade ago) or due to serious competition from upstart independents streaming content over the internet. The greed will come into play if Apple can dangle $$$ billions in front of the big TV players' noses to lure them in.

It's a race. Fear vs. greed. Ready. Set. Go!

Nah, just fear. Apple has greed patented already. /s

post #28 of 65
Quote:
Originally Posted by cgr111 View Post

I don't think Tim Cook's "joke" about Al Gore creating the Internet is very funny. In light of Gore's recent sale of his company, he should not even be a member of the Board of Directors!

Because he sold to the Qataris? Do you have something against them? If so, what?

 

He made a tidy profit. That's the kind of guy I want looking over my Apple shares.

post #29 of 65
Quote:
Originally Posted by sranger View Post

Apple needs to buy Tesla.....  Apple could own the emerging EV market and have almost unlimited growth for the foreseeable future IMHO....

 

Could you image a Telas Model S or Model X with iOS integrated into it?

(i) They need to figure out battery issues.

 

(ii) They use Android.

post #30 of 65
The "big plan for the living room" is going to end up being a lamp and an extremely comfy armchair, which can be used to cuddle up in while reading your favourite novel on your iPad.
post #31 of 65
'looking at new categories'

I find this worrying. I had assumed they weren't 'looking', rather had a load of SJ's ideas for products and categories already in a safe and just had to make them happen over the next decade or two.
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post #32 of 65
Quote:
Originally Posted by sranger View Post

Apple needs to buy Tesla.....  Apple could own the emerging EV market and have almost unlimited growth for the foreseeable future IMHO....

Could you image a Telas Model S or Model X with iOS integrated into it?

There is a lot more to Tesla's parent company than the cars. mmm... Apple could move into Space exploration too 1smile.gif
From Apple ][ - to new Mac Pro I've used them all.
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post #33 of 65
Quote:
Originally Posted by Slurpy View Post

"He noted that Apple grew by about $48 billion in fiscal 2012, which was more than Google, Microsoft, Dell, HP and Research in Motion (now known as BlackBerry) combined."

Incredible stat, considering all the concern-trollling headlines about Apple's stalled growth, and the stock hit because of these headlines. Jesus.

I haven't seen this vast sum pointed out this way before. One thing I like about Tim Cook is his mastery of tossing around big numbers, which some would attribute to his spreadsheet mind. Like the way he referred to spending $10 billion for each of the last two years on capital expenditures as "a pair of tens."


About this rumored wrist device. I think it would be great fun if it was the new world phone that everybody wants to see for "the developing world." It might not need to be too expensive if it was all radio and very little screen.
post #34 of 65
Quote:
Originally Posted by bcode View Post

 

Hear, hear!  Apple never was, nor will it likely ever be a dividend cash-cow.  If you're looking for that kind of instant return, AAPL is not for you.  It's exactly these types of attitudes that have sent the stock "tanking" this quarter.



When the company is earning as much money as Apple is, they have to issue big dividends.  If they don't, then the cash pile will grow so large that you are basically buying a money market fund instead of a technology company when you buy Apple stock.  Apple will never use that much money on acquisitions.

Also, the larger the cash pile grows, the greater the chance that somebody will use it to fund a leveraged buyout and take Apple private like Dell is doing.


Edited by e1618978 - 2/27/13 at 4:47pm
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post #35 of 65
Quote:
Originally Posted by SockRolid View Post

Re: "One rumored product that could be in Apple's future is a television set, which is said to have been in development at the company's Cupertino, Calif., headquarters for years."

Maybe. But it might take a whole lot of piracy to enable an Apple television set (and Apple's disruption of the TV industry.) And that level of piracy may not really be possible until broadband (wired) internet is more pervasive and "real 4G" is rolled out with 1Gb/sec download speeds.

Only two things can push the incumbent TV industry players over the line to work with Apple: fear and greed. The fear will come from losing profitability due to rampant piracy (like that in the music business about a decade ago) or due to serious competition from upstart independents streaming content over the internet. The greed will come into play if Apple can dangle $$$ billions in front of the big TV players' noses to lure them in.

It's a race. Fear vs. greed. Ready. Set. Go!

TV and movie piracy isn't as easy as it was getting free music. The music industry was losing money until this past year, but the TV industry is doing just fine, and do not need a savior.
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post #36 of 65
Is a 100 People Team a lot for developing a new product?
Yeah, well, you know, that's just, like, my opinion, man.
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Yeah, well, you know, that's just, like, my opinion, man.
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post #37 of 65

The problem here is that nobody in their right mind would buy a electric only vehicle with todays battery technologies.   Sale pretty much indicate that the only people actually buying cars like the Tesla are the ones that indeed are not in their right mind.

 

Don't get me wrong I like the idea of an electric drive car.  The problem is we don't have a power source to provide energy for such cars in a way that most drivers would find acceptable.   What the industry really needs is a clean nuclear source for such automobiles.   To that end Apple really should be funneling some of their money into advanced reactor designs.

Quote:
Originally Posted by sranger View Post

Apple needs to buy Tesla.....  Apple could own the emerging EV market and have almost unlimited growth for the foreseeable future IMHO....

 

Could you image a Telas Model S or Model X with iOS integrated into it?

post #38 of 65

This is wishful thinking!   Don't you think that is somebody had suitable battery technology for Tesla that they would be knocking on Teslas doors every day to try to sell such technology to Tesla.

 

I'm as pro electric vehicle as anybody but I'm also in touch with reality.   Reality says that we really don't have a suitable battery technology for electric cars right now.   That could change quickly as frankly there is more research going on with respect to battery tech than just about any other technology out there.   But at the moment electric cars are a hug compromise if you are somebody like me that has only one vehicle and only expects to have one for the foreseeable future.

 

Beyond that if Apple really wants to move us into the future the answer is nuclear technologies.   In this regard Apple really should be investing in novel approaches like Focus Fusion and other less than big science approaches to Fusion technologies.

Quote:
Originally Posted by Tallest Skil View Post

 

I can.

 

But I can also imagine where Apple would take Tesla beyond just "electric vehicle". They'd literally reinvent the concept of a car. Tesla's already making the right kind of changes. Apple-y changes. Imagine what the teams could do combined.

 

And imagine what Tesla could do with Apple's battery knowledge.

 

While their competitors are releasing $40,000, 180MPC cars, Tesla would be putting out a $30,000, 500MPC car. 

post #39 of 65

Actually a leveraged buy out is not a bad idea.   Going private can be very good for a company.   I work at such a company that went private a few years ago.   It really help management take the focus off of the quarterly demands of Wall Street greed mongers.   Wall Street isn't all bad the way that many seem to think, but if too much of your stock ends up being held by the wrong people it can have a very negative impact on long term management planning.

 

Now the question you have to ask would be going private be good for Apple long term.   That is extremely difficult to say really.   It certainly wouldn't hurt today when they have plenty of cash but in the future when they need investor support it could be.

 

I do wonder why you seem to imply that going private is so bad?

 

Quote:
Originally Posted by e1618978 View Post



When the company is earning as much money as Apple is, they have to issue big dividends.  If they don't, then the cash pile will grow so large that you are basically buying a money market fund instead of a technology company when you buy Apple stock.  Apple will never use that much money on acquisitions.

Also, the larger the cash pile grows, the greater the chance that somebody will use it to fund a leveraged buyout and take Apple private like Dell is doing.

post #40 of 65

Not at all.    In fact I'd be willing to bet that any new product coming from Apple actually has far more people working on it as supplier and contractors are part of the process.

 

Consider for instance the rumored iWatch.   Such a watch would have the Apple employees of course but any such development would also have a number of specialized suppliers working on the device, with each supplier having its own team.   So you would have a team for the screen, a team for the battery, a team for the "case" and so on.    

 

Looking back look at the efforts that Corning put into making Gorilla Glass.     That was literally a resurrection of technology from the sixties redeveloped for use in portable electronics.   Now I can't say for sure what sort of team that Corning put together for that project but i'd have to bet that more than ten people where involved in the initial start up.

Quote:
Originally Posted by WonkoTheSane View Post

Is a 100 People Team a lot for developing a new product?
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