Apple 2013 Shareholder's Meeting: Directors Reelected, Company Working on 'New Categories'

Apple's annual shareholder's meeting took place at the company's Cupertino campus this morning. The meeting is held to allow shareholders to address corporate officers and to handle certain corporate business like reelecting the board of directors and voting on certain proposals.

According to CNBC's Jon Fortt, preliminary results show all directors reelected, Apple's accounting firm was approved, a non-binding advisory vote on executive compensation passed, a proposal to require executives to hold 33% of their stock awards until retirement was defeated, as was a proposal to create a Human Rights board committee. The full text of the proposals are available in Apple's proxy statement. Tim Cook received 99.1% investor approval.

The run up to this year's meeting was more contentious than most. A judge blocked the vote on one of Apple's proposed changes following a lawsuit by a major Apple shareholder. He ruled that three separate proposals had been bundled together, when they should be voted on individually.

During the Q&A portion, Apple CEO Tim Cook said he knows shareholders are "disappointed" by its share price, and that focus should be on the long term, with revenue and profits following. Additionally, Cook said that Apple is working on "new categories" but wouldn't comment on anything specifically.

Cook confirmed that the plans for Apple's new "spaceship" campus are slightly delayed, with a move-in date around 2016, as was previously reported. He reiterated that Apple is "seriously considering" the issue of returning more cash to shareholders.

Last year's meeting did not result in any significant changes for the company. Apple's stock price jumped yesterday on a rumor that Apple would announce a stock split today, but that did not come to fruition.

Top Rated Comments

(View all)
Avatar
97 months ago
I'll believe the "new categories" claim when I see blurry pics from China.
Score: 25 Votes (Like | Disagree)
Avatar
97 months ago

Additionally, Cook said that Apple is working on "new categories"


Hmmm...
<checks watch>
I wonder what's on TV right now
Score: 15 Votes (Like | Disagree)
Avatar
97 months ago

No matter how ya slice it - Watches and TVs aren't new categories. Maybe new to Apple. Not to civilization.


Don't think Cook said Apple was adding new product categories for the good of civilization.
Score: 9 Votes (Like | Disagree)
Avatar
97 months ago

A defeat of a "Human Rights" committee? What's that say about the way shareholder's view of rights of the people?


Why does a company a a human rights committee? What's the point of it? Should we ask every other company that manufacturers products in Asia to implement a human rights committee at their company? :rolleyes:
Score: 9 Votes (Like | Disagree)
Avatar
97 months ago

No matter how ya slice it - Watches and TVs aren't new categories. Maybe new to Apple. Not to civilization.


Neither are glasses or aluminum laptops with hi res displays. Or cheap phones and tablets.
Score: 6 Votes (Like | Disagree)
Avatar
97 months ago
I hope there is some investigation into the analyst that pumped the stock with his split rumor. I'll bet he made a bunch of money off the bump that happened after he said that.
Score: 6 Votes (Like | Disagree)

Top Stories

Apple Takes Legal Action Against Small Company With Pear Logo

Saturday August 8, 2020 11:09 am PDT by
Apple is taking legal action against the developers of the app "Prepear" due to its logo, according to iPhone in Canada. Prepear is an app that helps users discover recipes, plan meals, make lists, and arrange grocery deliveries. The app is a spinoff of "Super Healthy Kids," and the founders claim that they are facing litigation from Apple. Apple reportedly takes issue with Prepear's logo, ...

Kuo: Global iPhone Shipments Could Decline Up to 30% If Apple Forced to Remove WeChat From App Store [Updated x2]

Sunday August 9, 2020 10:17 pm PDT by
In a worst-case scenario, Apple's annual global iPhone shipments could decline by 25–30% if it is forced to remove WeChat from its App Stores around the world, according to a new research note from analyst Ming-Chi Kuo viewed by MacRumors. The removal could occur due to a recent executive order aiming to ban U.S. transactions with WeChat and its parent company Tencent. Kuo lays out...

Google Maps Debuts New Apple Watch App and CarPlay Features

Monday August 10, 2020 9:16 am PDT by
Google today announced the launch of several features for Google Maps on Apple products, including new CarPlay functionality and a new Google Maps app that works on Apple Watch. The new Google Maps app for Apple Watch works similarly to the iOS app, allowing Apple Watch owners to get directions for a car, bike, public transit, or on foot. The app supports estimated arrival times and...

Foxconn Reportedly Begins Seasonal Hiring Spree for iPhone 12 Production

Monday August 10, 2020 7:03 am PDT by
Apple's largest manufacturing partner Foxconn has begun its seasonal hiring spree to assist with iPhone 12 production, offering employees who recruit qualified applicants up to a 9,000 yuan bonus, according to Chinese media reports. As usual, Foxconn needs as many hands on deck as possible at its factory in Zhengzhou, China to assist with mass production of the upcoming iPhones. Apple is...

Apple May Release 4G-Only iPhone 12 in Early 2021

Tuesday August 11, 2020 5:28 am PDT by
In a research note shared by Business Insider, Wedbush Securities analysts said that Apple may release a cheaper iPhone 12 in early 2021 with no 5G connectivity. Wedbush initially believed Apple would launch a mix of 4G and 5G iPhone 12 models this fall. Following re-examination of Asian supply chains, analysts Daniel Ives, Strecker Backe, and Ahmad Khalil revised the predictions,...

2020 iMac Teardown Reveals Internal Changes and Similarities

Saturday August 8, 2020 12:44 pm PDT by
A teardown video, shared by OWC, reveals the internal changes in the new 2020 27-inch iMac. The 2020 27-inch iMac was announced earlier this week with 10th-generation Intel Core processors, AMD Radeon Pro 5000 series graphics, up to 128GB of RAM, up to 8TB of storage, a 1080p front-facing FaceTime camera, a True Tone display with a nano-texture glass option, higher fidelity speakers, and...

Apple Believes This German Cycling Path Logo Infringes on Its Own Logo

Wednesday May 1, 2019 9:51 am PDT by
Apple recently objected to the logo of a new German cycling path in an appeal filed with the German Patent and Trademark Office, according to German outlets General-Anzeiger Bonn and Westdeutscher Rundfunk. Apple reportedly takes issue with the logo's green leaf and supposed "bitten" right side, attributes the company believes are too similar to its own logo. The logo, registered with the ...

Apple Seeds First Public Beta of watchOS 7 to Public Beta Testers

Monday August 10, 2020 10:33 am PDT by
Apple today seeded the first public beta of an upcoming watchOS 7 update to public beta testers, one week after seeding the fourth beta to developers and a month and a half after the Worldwide Developers Conference. The update can be downloaded after installing the proper profile from Apple's Public Beta website. watchOS 7 should not be installed on a primary device as it is still an early...

Apple Watch Likely to Adopt MicroLED Display Technology in 3-4 Years

Monday August 10, 2020 2:55 am PDT by
This year's Apple Watch Series 6 is expected to feature an OLED screen like previous models, but a future model is likely to be the first Apple product to adopt MicroLED display technology, albeit not for another three to four years. That's the main takeaway reading between the lines of comments made by the chairman of Epistar, Taiwan's top LED producer, which is reportedly working on a...

Apple Seeds iOS 14 and iPadOS 14 Public Beta 4 to Testers

Thursday August 6, 2020 10:05 am PDT by
Apple today seeded new public betas of upcoming iOS 14 and iPadOS 14 updates to its public beta testing group. Today's software releases, which Apple labels as fourth betas to keep them in line with developer betas, are actually the third betas that Apple has provided and they come two weeks after the prior beta releases. Public beta testers who have signed up for Apple's beta testing...