Apple CEO Tim Cook said that health could be an area where Apple makes a big play in an interview with CNBC. We'll have to wait and see how the story unfolds as more details will likely surface soon.
Cook came to the defense of his company a week after Apple warned investors that its fiscal first-quarter (fourth calendar quarter) revenue would be weaker than previously expected.
"We continue to believe the services business, poised to exceed US$50bn in FY20, will be the ultimate driver for the next phase of the Apple growth story set to take hold over the coming years with 190 million to 200 million iPhones shipping in both FY19 and FY20 based on our new estimates", Wedbush said.
"Look, the truth is, we haven't been in any settlement discussions with them since the third calendar quarter of past year", Cook said in his recent interview.
This strong sales performance Apple posted during the most part of 2018 was also cited as a reason by its compensation committee to justify the $12-million bonus paid to Cook. Cook further adds, "We are taking what has been with the institution and empowering the individual to manage their health". He stated that current revenue from wearables is 50% more than the iPod at its peak.
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The iPhone maker's growing ecosystem is "probably underappreciated" by naysayers, Cook says.
The trade agreement between USA and China "needs to be updated" and Cook is "very optimistic" an agreement can be made.
"If you zoom out into the future, and you look back, and you ask the question: 'What was Apple's greatest contribution to mankind?', it will be about health", he said.
Cook received a US$3mln salary, a US$12mln bonus and US$121mln from his 10-year stock award for the year ended September 29.
Apple and Qualcomm have been locked in a legal battle in which Apple has accused Qualcomm of engaging in illegal patent licensing practices to preserve a dominant market position in so called modem chips, which help mobile phones connect to wireless data networks. Later, he characterized the company's health-care efforts as poised to be "Apple's most important contribution to mankind".