Apple’s Tim Cook collects $12 million bonus for 2018, his most ever

Henrietta Strickland
January 10, 2019

Apple's compensation committee cited the company's strong sales performance over the year in justifying the bonus.

AdvertisementThe company warned last week that iPhone upgrades for the last quarter were lower than expected. In August, Mr Cook collected 560,000 shares because Apple outperformed more than two-thirds of the firms over three years.

"In terms of the naysayer, I've heard this over and over again", Cook told Jim Cramer in an interview on CNBC. "I've heard it in 2001, I've heard it in 2005, in '7, in '8, in '10, in '12 and '13. (.) Also, if you take AirPods and the Watch separately, and you sort of back these up and align it to the launch date of iPod as well (.) you will find that each one independently is like four to six time ahead of where iPod was in a comparable amount of time", he said.

Cook went on to say that he's not "defensive on it", and that people can say what they want. Cook said that his company's health-focused innovations may be "Apple's greatest contribution to mankind". The announcement punished the stock, which has tumbled 12 per cent since then. CNBC shared some of the major points earlier today, but one of the more interesting parts that came out of the full interview was Cook's stance on how the iPhone XR - the company's other iPhone it launched late a year ago alongside the iPhone XS and XS Max - is faring out there in the market.

There's also some worry among investors that Apple could face a boycott by consumers in China. Cook doesn't sound anxious, though. The product pipeline has never been better.

In his interview with Cramer, Cook said trade tensions between China and the United States created the sharp downturn, but he said he believes the situation is temporary.

Other reports by Click Lancashire

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