Apple chief executive Tim Cook finally addressed shareholders' concerns about the company's diminishing market value at its annual shareholders' meeting earlier this week. Agreeing that investors' concerns are understandable, Cook said the company is gearing up to make a strong comeback with new innovations and "new categories of products".
As for Apple's tumbling stock value, Cook said that neither he nor the company's management team or board is happy about the company's market performance in the recent months. After reaching a high towards the end of 2012, the company's stocks have plummeted by almost a third.
Cook also said that while Apple is considering the idea of returning cash to willing investors following the recent David Einhorn-initiated lawsuit, it is also actively working on new innovations. He insisted that Apple has "some great stuff coming" and is "obviously looking at new categories of products."
"What we are focused on is the long term; this has always been the secret of Apple," Cook said.