Apple COO Tim Cook Speaks at Goldman Sachs Conference

171257 ref 05cook 200

Apple Chief Operating Officer Tim Cook today participated in a Q&A session at the Goldman Sachs Technology & Internet Conference, and while he did not offer any major revelations, some of his comments offered a bit of perspective on Apple's business, including comments on the Apple TV, iPad sales channels, exclusive carrier relationships, and other topics. Here is a paraphrased summary of some of the key points:

Q: Where do you see things going with the Apple TV?
A: It's still a hobby, but our gut tells us there's something there. The go-to-market model is difficult, and we have no interest in being in the TV market. But we have continued to invest in the Apple TV and will keep doing so.

Q: Are all pieces of the iPhone OS platform complete or is there more to come?
A: The word "complete" isn't in our dictionary. We're always innovating and always looking to obsolete ourselves. The ecosystem and platform are really good, and the foundation is in place, but clearly it will continue to get better.

Q: How will you sell the iPad?
A: We'll start with Apple's direct channels, such as online, retail, education, etc. We'll also pursue indirect sales channels like Best Buy's store-in-a-store concepts. Internationally, we have a very good premium reseller program that we'll also use. Over time, sales channels will expand.

Q: What are the advantages and disadvantages of Apple's exclusive relationship with AT&T for iPhone and iPad?
A: Simplicity, and the ability to work with the carrier on new features such as visual voicemail on original iPhone. For multi-carrier models, in some countries, carriers have very "sticky" relationships with customers and thus a multi-carrier model greatly enhances potential sales. In Apple's top ten iPhone countries last year, five were single-carrier countries. Three were by contract, and two were by choice where we could add additional carriers at any time. In 2009, we added carriers in France, UK, Singapore, Scandinavian countries, Canada. In every single country, our units increased significantly. So we made really good decisions. But I'm not saying it would be the case in every country. We look at things on a country-by-country basis.

Q: Would other carriers have to match AT&T's pricing on the iPad service to even have a shot?
A: AT&T's pricing is truly revolutionary. But I wouldn't want to speculate on what someone else might have to do to join the party.

Q: Where do you see retail store expansion going?
A: Early on, we set a range of 25-50 new stores per year as our goal. We've been at the high end of that range and the low end, but we like that pace. In 2008, the world started to fall apart with the economy. We thought it would be better to slow down and wait for great properties to come on the market. That did happen, and we're ready to take advantage. We're turning the dial back up and will be near the high end of the range this year.

Q: Why did you launch your own processor for the iPad? What was missing?
A: Apple has for years been in the silicon design business. On PowerPC, Apple always personally crafted the northbridge and southbridge chipsets. It's not new to us. For the iPad, we felt we had the best knowledge of what we wanted the silicon to do and were in the best position to do it ourselves rather than going to someone else offering something that wasn't really exactly what we wanted. At the end of the day, we want to make the world's best products. By doing it ourselves, we were putting ourselves in the best position to do so.

Q: How would you describe your corporate acquisition strategy?
A: Technology and talent. Typically small companies. We've looked at big companies, but nothing has totally fit. If we find a large one, we won't be shy about it, but we won't do it to do it. We're not about having the highest market share or revenue...we want to make the best products. Acquiring a company simply to boost our revenue wouldn't be something we'd consider.

Q: Is there a chance of hubris creeping into the company?
A: People are our number one asset, and the executive team spends a lot of time thinking about recruiting and retaining great talent. We've said no to a lot of good products, great products even, in order to remain focused. That focus is so ingrained that the management team would never let hubris take hold. That's not what we're about. Focus on people and ensure that it's a small list of things to work on. That's the magic behind us.

Popular Stories

iphone 16 pro ghost hand

5 Reasons to Skip This Year's iPhone 17 Pro

Thursday July 10, 2025 4:54 am PDT by
Apple will launch its new iPhone 17 series in two months, and the iPhone 17 Pro models are expected to get a new design for the rear casing and the camera area. But more significant changes to the lineup are not expected until next year, when the iPhone 18 models arrive. If you're thinking of trading in your iPhone for this year's latest, consider the following features rumored to be coming...
apple wallet drivers license feature iPhone 15 pro

Apple Says iPhone Driver's Licenses Will Expand to These 8 U.S. States

Tuesday July 8, 2025 11:26 am PDT by
In select U.S. states, residents can add their driver's license or state ID to the Wallet app on the iPhone and Apple Watch, providing a convenient and contactless way to display proof of identity or age at select airports and businesses, and in select apps. Unfortunately, this feature continues to roll out very slowly since it was announced in 2021, with only nine U.S. states, Puerto Rico,...
macbook pro blue green

M5 MacBook Pro No Longer Coming in 2025

Thursday July 10, 2025 12:38 pm PDT by
Apple does not plan to refresh any Macs with updated M5 chips in 2025, according to Bloomberg's Mark Gurman. Updated MacBook Air and MacBook Pro models are now planned for the first half of 2026. Gurman previously said that Apple would debut the M5 MacBook Pro models in late 2025, but his newest report suggests that Apple is "considering" pushing them back to 2026. Apple is now said to be...
iPhone 17 Pro in Hand Feature Lowgo

Leaker Reveals Amount of RAM in iPhone 17 Through iPhone 17 Pro Max

Wednesday July 9, 2025 8:08 am PDT by
Three out of four iPhone 17 models will feature more RAM than the equivalent iPhone 16 models, according to a new leak that aligns with previous rumors. The all-new iPhone 17 Air, the iPhone 17 Pro, and the iPhone 17 Pro Max will each be equipped with 12GB of RAM, according to Fixed Focus Digital, an account with more than two million followers on Chinese social media platform Weibo. The...
iPhone 17 Pro in Hand Feature Lowgo

iPhone 17 Pro to Reverse iPhone X Design Decision

Monday July 7, 2025 9:46 am PDT by
Since the iPhone X in 2017, all of Apple's highest-end iPhone models have featured either stainless steel or titanium frames, but it has now been rumored that this design decision will be coming to an end with the iPhone 17 Pro models later this year. In a post on Chinese social media platform Weibo today, the account Instant Digital said that the iPhone 17 Pro models will have an aluminum...
Foldable iPhone 2023 Feature 1

Foldable iPhone Display Production Begins Ahead of Launch Next Year

Wednesday July 9, 2025 10:59 pm PDT by
Production of foldable OLED displays for Apple's first foldable iPhone have begun ahead of its expected launch next year, Korea's ETNews reports. The first foldable iPhone's displays are being produced by Samsung Display, who are establishing a production line dedicated to the upcoming Apple device its A3 factory in Asan, Chungcheongnam-do. The production line will make displays exclusively...
apple tv 4k new orange

New Apple TV Expected Later This Year With These New Features

Saturday July 12, 2025 3:09 pm PDT by
A new Apple TV is expected to be released later this year, and a handful of new features and changes have been rumored for the device. Below, we recap what to expect from the next Apple TV, according to rumors. Rumors Faster Wi-Fi Support The next Apple TV will be equipped with Apple's own combined Wi-Fi and Bluetooth chip, according to Bloomberg's Mark Gurman. He said the chip supports ...
iphone 16 pro pro max

iPhone 17 Pro Models With BOE Displays Will Be Sold in China Only

Thursday July 10, 2025 11:59 pm PDT by
iPhone 17 Pro and iPhone 17 Pro Max models with displays made by BOE will be sold exclusively in China, according to a new report. Last week, it emerged that Chinese display manufacturer BOE was aggressively ramping up its OLED production capacity for future iPhone models as part of a plan to recapture a major role in Apple's supply chain. Now, tech news aggregator Jukan Choi reports...