Tim Cook tells CNBC Apple has ‘great innovation in the pipeline’

By , May 2, 2016

tim cook cnbc

Tim Cook on Monday appeared on CNBC’s ‘Mad Money’ to talk with host Jim Cramer about Apple’s recent earnings report. The iPhone maker announced weaker-than-expected Q2 sales last week, and its stock has since dropped more than 10 points.

While the interview is transparently a PR move to let Wall Street know that Apple is still on the right path, Cook did offer up some interesting comments about the future of his company. Naturally, we’ve highlighted some of our favorites for you below.

On short-term growth:

Jim Cramer: Let’s talk about shorter term that has captivated the narrative. Tony Sanguinetti good analyst on your call all the time tells the New York Times there’s no question that Apple’s best days are behind it the company grew at astronomical rates and it is now so big that its ability to grow at these rates doesn’t exist anymore. There’s an obituary.

Tim Cook: Yeah, I couldn’t disagree more. Here’s what I see. We are in some incredible markets the smartphone market eventually everyone in the world will have a smartphone. Penetration today is in the 40s a long way to go. Emerging markets like India LTE penetration is zero we’ve got great innovation in the pipeline new iPhones that will incent you and other people that have iPhones today to upgrade to new iPhones.

More on India:

Tim Cook: India will be the most populous country in the world in 2022. India today has about 50% of their population at 25 years of age or younger. It’s a very young country. People really want smartphones there, really want smartphones. And this year, the first year, LTE begins to roll out. And so many of your viewers here in the United States, they’re used to using LTE and streaming video. And hopefully they’re getting a good experience there. In India you can’t do that long – there is no LTE. And so that’s changing. Huge market potential.

On Apple’s secrecy:

Tim Cook: Yeah. We don’t talk about futures as a company. As you say we’re fairly secretive. We don’t talk about products that are in the roadmap. But I would tell you that we’re incredibly excited about things we’re working on. Incredibly excited. And so I don’t want to be more specific than that. But I think that the other thing maybe that’s worth pointing out is, if you kind of look at all the things Apple has done over time, at the time they were done they were rarely ever seen like they were in retrospect.

On Apple Watch:

Tim Cook: The way that we look at the watch, though, we were – our first goal is to establish a new category. Smartwatch category wasn’t really established, so we needed to establish the category. And we wanted to roll out slowly. Well, today, to put it in perspective, you can buy Apple Watch in 14,000 locations. You can buy the iPhone at over 200,000. And so we’re still in learning mode. We’re learning fairly quickly, though. We know a lot more than we did a year ago. And you’ll see the Apple Watch getting better and better.

If you want to watch the interview, you can find it on CNBC’s website (be aware, it’s in Flash). If you’d rather just read the full transcript, The Loop has it word for word.

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  • czbird

    Dual protruding lens camera? 🙂

    • Abhijeet Gupta

      and huge bezels on all four sides 😛

      • Capirexz

        And “Can’t Innovate anymore, my ass!”

  • Abhijeet Gupta

    Ive been using LTE for almost 2 years now, almost all the major carriers have now rolled out support for LTE and Timmy says no LTE Coverage in india, Its slowly gaining momentum because the cost has come down, for example India’s largest network provider Airtel is providing LTE at the price of 3G.

    • Yash Gorana

      Having LTE in the country and people ACTUALLY USING the LTE is completely different. Here, an average user will pay for prepaid 1GB plan max. Over there, people have monthly postpaid with huge data caps.

      Also, ask your friend for sharing his LTE through hotspot, and see the excuses he makes. “Bro, i just have 5mb left.”

      • Abhijeet Gupta

        People are actually using LTE in NCR Region and Capital cities. 100 rupees for 1 GB data isnt too much. Is it And most importantly people like you make excuses.

      • Yash Gorana

        The typical hate in the last sentence was uncalled for. Anyway, I was just discussing the Indian market and it’s consumers, if you took it personally it’s not my problem.

      • Abhijeet Gupta

        it was necessary to control trolls like you and FYI I have a pretty solid idea about the market, don’t know if you live in caves because you’re really not able to use LTE. You’re using 3g Connection ? which operator ?

  • vivalaivsca

    damn it i can’t watch it, because iDownloadBlog told us that we should remove flash from our browser last week sometime.

  • Benedict

    Same empty promises as every year. Just to keep up the stock price from falling. Embarrassing.

  • h4nd0fg0d

    More talk, more bullshyt.

  • Mr_Coldharbour

    Beware, it’s in Flash. Also beware, it’s U.S. only!

  • chjode

    I hope it’s more than additional products “Now in Rose Gold!”

  • Xee

    Meh… same thing they said the last few years. Apple need to really innovate and give its customers something special.

  • diggitydang

    I didn’t see the interview, but it scares me when he says the future is bright, followed by the fact that it’s largely because we can sell to India where there are a lot of people.

    I already have my iPhone, iPad, Apple Watch, Macbook Pro… I want them to be getting better ALL the time… I don’t care if you SELL MORE to INDIA (with respect to India – hahahaha)… that doesn’t make the products I have better, and doesn’t make using your products a better experience for me.

    Tim’s a production guy… I hate the cliché that “Steve Jobs wouldn’t have let this happen”, but the truth is, he was a visionary, not a production guy. He loved and demanded constant evolution in their products and beat people’s a$$es to get it, to the benefit of all their users.

    I’ve hated Samsung for a long time… oh BOY, I hated Samsung… but their last phone looks GOOOOOOOOD. As a long time Apple Fanboy, I’m so tempted to switch, although I’m locked into the Apple ecosystem now.

    That all said, I’m obviously going by a lot of rumours. For me, it’s becoming “what have you done for me lately, Apple?”. Right now, I can’t say much…