Apple Shareholder Meeting: During the question and answer session of the Apple Inc. (NASDAQ:AAPL) annual shareholder meeting, CEO Tim Cook had quite a bit to say. With so much going on right now – from industry competition to a sinking stock price – Cook was asked a variety of questions from the audience.
Apple is actually the smart money’s second favorite publicly traded company (see why it’s important to pay attention to hedge fund activity).
CNBC’s technology correspondent Jon Fortt reported live from the shareholder meeting. Here are some of the top answers from Cook:
On David Einhorn’s lawsuit:
“I strongly believe it was a silly sideshow, regardless of how the judge ruled …. I don’t think the issue of returning cash to shareholders is silly — we’re seriously considering it.”
On a new campus:
“We plan to bulldoze all the buildings on the new site, build one 2.8 million sq. foot building that will be the most collaborative work environment; I project that we will move in, in 2016.”
“Steve put a lot of work into this before he passed away and we’re continuing that …. We think we can get a third of our employees there by bus …. We hope to break ground later this year.”
On supply chain:
“Our work on supply chain was not in response to anything; we were doing it before the press attention. … When we find things we fix things, and when we find things we report things. … Over 200,000 people are taking advantage of college courses we started on our work sites; we have trained more than one million workers on their rights.”
On the company’s stock price:
“I don’t like it either. Neither does the board or management — where the stock trades now vs a few months ago — but we’re focused on the long term.”
“Last fiscal year we grew by about $48 billion” more than Google, Microsoft, Dell, HP, RIM, Nokia combined.”
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DISCLOSURE: I have no positions in any stock mentioned.
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