Apple held a Virtual Shareholder Meeting today with Cook making a presentation covering COVID-19, Expanding its supply chain & more
Earlier today Apple held a virtual shareholder meeting wherein CEO Tim Cook fielded questions on mergers and acquisitions, the impact of Covid-19, and the company’s supply chain.
Narrating a slide show, Cook summarized many of the company’s new products and initiatives announced over the past year. He spoke about the latest iPhones and the growing potential of the Apple Watch, while noting that the AirPods Max headphones have quickly become "hugely popular" with users. He also discussed Apple’s efforts to combat the pandemic, climate change, and the San Francisco Bay Area housing crisis.
Cook said the company bought almost 100 smaller companies over the past six years and makes a deal about every three to four weeks.
Cook was also quizzed about supply chain diversification. Cook said Apple is always looking to improve and make changes across its business, without commenting specifically on any supply chain changes. Apple has been seeking to expand production outside of China, including in India and Vietnam.
Cook also responded to regulatory scrutiny of the App Store, saying the service isn’t an antitrust issue. "Apple doesn’t have a dominant position in any market we compete in, not in any product category, not in any service category, and not in software or apps. This competitive marketplace pushes all of us to be better. So while scrutiny is always fair, accusations like these fall apart after a reasonable examination of the facts." For more read the full Bloomberg report.