• Tim Cook calls 'huge overreaction,' on Q2 sales

    CNBC's Jim Cramer has taken a one-on-one interview with Apple's very own CEO, Tim Cook on Monday.

    Tim Cook states on CNBC's network that there are concerns that the company's best days are behind it are overblown, also stating there is optimism in China and areas of huge growth potential like India.

    Majority of the interview was focusing on an exciting upcoming product pipeline, the second quarter of Apple's Sales and international opportunities. For the second quarter of 2016, iPhone sales dipped to 51.2 million devices, pulling revenue down to $50.6 billion.

    In constant currency, Apple's Greater China business has grown 70 percent over the past two years, Cook said.

    Tim Cook more than once brought up Apple's prospects in India, saying this year's regional LTE rollout could play big for iPhone. Traditionally, Indian consumers shy away from premium smartphones, opting instead for budget devices running some flavor of Android. But Cook believes change is in the wind. About half of India's population is 25 years old or younger, a demographic Cook said is keen on buying "the best" products available. With LTE penetration at near zero, wireless customers didn't have a reason to buy iPhone, but that too will change.

    "We're going to give you things you can't live without that you don't know you need today," Cook said.

    Cook stated that the Apple Watch is available in 14,000 locations, which compares to 200,000 for iPhone. The company is still in "learning mode" when it comes to wearables, but Cook is optimistic that Watch will one day be as pervasive as iPod and iPhone, products that got off to a slow start but are retrospectively viewed as overnight successes.
    This article was originally published in forum thread: Tim Cook calls 'huge overreaction,' on Q2 sales, turns sights to India started by Caiden Spencer View original post
    Comments 2 Comments
    1. Scotty Manley Silberhorn's Avatar
      Scotty Manley Silberhorn -
      Apple only made $10 billion in profits last quarter?! Must be about to go bankrupt
    1. Ambi_Valence's Avatar
      Ambi_Valence -
      Quote Originally Posted by Scotty Manley Silberhorn View Post
      Apple only made $10 billion in profits last quarter?! Must be about to go bankrupt
      Maybe, but remember other companies that at one time seemed unassailable. Why should these guys be any different?
  • Connect With Us

  • Twitter Box

  • Facebook