(Click on image to Enlarge)
Apple shares haven’t escaped the 2022 bear market: The stock is down about 20% year to date. Nonetheless, Apple remains the largest U.S. company by market cap, at $2.3 trillion, with most of that generated during CEO Tim Cook’s 11 years at the helm. And Cook sees many opportunities ahead, according to a Barron’s report published yesterday that’s part of a series titled ‘Best CEOs 2022.’
The Barron’s report further noted that “More than half of Apple’s revenue comes from the iPhone, with an updated lineup due this fall. But Cook, 61, has been pushing in new directions, including an aggressive expansion into new services.
Meanwhile, attention turns to augmented and virtual reality. While Apple hasn’t officially announced plans, Cook recently hinted that AR/VR glasses are on the way. ‘I could not be more excited about the opportunities in this space,’ Cook said in a recent video interview with China Daily. ‘Stay tuned and you will see what we have to offer.’”
Although Apple hasn’t officially announced their finished product plans, Patently Apple has covered 359 Apple patents to date covering various aspects of future smartglasses and a mixed reality headset.
Barron’s further noted that “Cook’s challenge is to move the growth needle for a company with nearly $400 billion in annual sales.” Longer term, “Apple is rumored to be working on cars.”
Image Credit: GQ