Highlights of Apple's 2018 Shareholders Meeting

Apple's annual shareholders meeting took place at the Steve Jobs Theater at Apple Park this morning, with shareholders gathering to vote on proposals and ask questions of Apple executives.

Apple does not live stream its shareholders meetings, but several members of the press, such as CNET's Shara Tibken and Business Insider's Kif Leswing, were at the event and shared details on what was covered on Twitter.

appleparkcampus

Image via Shara Tibken

Much of the meeting was spent discussing shareholder proposals, several of which were routine proposals direct from Apple for re-electing the board of directors, compensating executives, appointing Ernst & Young LLP as Apple's public accounting firm, and approving the non-employee Director Stock Plan. All of these passed with more than 95% approval.

Two proposals from shareholders, one that asked Apple to implement more relaxed rules for letting shareholders nominate directors to the board and another asking Apple to form a human rights commission were defeated. 32 percent of shareholders voted in favor of the first, while just 5.6 percent voted in favor of the second.

During a Q&A session, and during the proposal discussion portion of the shareholders meeting, Apple CEO Tim Cook made a few interesting comments worth highlighting, though much of what was said was a repeat of comments made during Apple's Q1 2018 earnings call earlier this month.

- iPhone X customer satisfaction is at 99%.

- Apple's wearables business, which includes AirPods, Beats, and Apple Watch, is "approaching" the size of a Fortune 300 company. Earlier this month, Cook said it was the size of a Fortune 400 company.

- Apple acquired 19 companies in 2017 (10 of those are known, nine unknown).

- Across all products, Apple holds almost a quarter of a billion subscriptions.

- On the topic of Telegram being briefly removed from the App Store earlier this month for illicit content, Cook said Apple has "always curated [Apple's] properties." Apple keeps pornography, terrorism, and other questionable content out of the App Store. "I think people are coming around to that actually being a good thing," said Cook.

- Apple has internal candidates ready to succeed Tim Cook, which is a topic that comes up at every shareholders meeting.

- Cook said mobile payments have "taken off slower than I personally would have thought." Adoption is speeding up though in key countries like China and Russia. Cook also said he hopes he'll still be alive "to see the elimination of money."

- On a question about special dividends, Cook said he's "not a fan," but Apple is committed to increasing dividends each year. Apple will provide more info on its capital return program in April.

- On the topic of retail stores, Cook said Apple doesn't believe physical stores will go away. "We believe that interaction with people still beats anything," he said.

- Apple won't open its main ring-shaped building at Apple Park for tours because "we have so much confidential stuff around." "Keeping stuff confidential is the bane of my existence now," said Cook.

Shareholders also asked a few frivolous questions, which ate into the Q&A time and limited what we heard from Apple executives. One asked about Apple's work in oral health, a topic Cook said Apple isn't focusing on, while another asked when Apple will introduce a waterproof iPhone (iPhones have been water resistant since the iPhone 7).

There was a question on Blockchain, which Cook avoided, and one investor, still using iOS 9, abstained from voting on board re-election because of Apple's "bad" software updates that have removed features. "I'm not gonna sell my stock or buy the competitor's stuff because it's even worse," he said.

Apple holds its shareholders meetings on an annual basis, with the next one scheduled to take place in early 2019. This year's meeting had limited attendance due to the size limitations of the Apple Park theater, but shareholders not able to attend were able to vote on proposals by proxy ahead of the meeting.

Top Rated Comments

lunarworks Avatar
47 months ago
and one investor, still using iOS 9, abstained from voting on board re-election because of Apple's "bad" software updates ('https://twitter.com/sharatibken/status/963460849024184320') that have removed features.
Which one of you guys was that?
Score: 52 Votes (Like | Disagree)
No. 44 Avatar
47 months ago
Hope some of those 9 unknown company acquisitions include artificial intelligence.
I hope some of those 9 unknown company acquisitions include real intelligence...
Score: 43 Votes (Like | Disagree)
rizzo41999 Avatar
47 months ago
Respect to the guy still on iOS 9.
Score: 26 Votes (Like | Disagree)
Relentless Power Avatar
47 months ago
Could be a good choice. I'd like to see Craig take the helm.
I like Federighi, and he has very open personality and the most humor on stage (Not to mention he is highly intelligent). But I don’t see him being the future CEO of Apple, Not that he isn’t capable, it just does seem to be fitting for him in my opinion. But he does have stellar hair.
Score: 19 Votes (Like | Disagree)
TComm Avatar
47 months ago
With Tim, Apple is doomed. More bugs and bad decisons coming.
Apple needs a CEO, not a political activist.
Score: 13 Votes (Like | Disagree)
busyscott Avatar
47 months ago
Cook admitting "payments taking off slower than we thought" reminds me a lot of how they responded to the trash can Mac Pro not being what pro's wanted. A day late and a dollar short. I just don't believe they've added enough value to using my credit card via a phone vs using my actual credit card. Either everything in my wallet has to go digital (I'm looking at you drivers license!) or the digital cards have to add more value than physical ones (rewards programs?)...it's pretty much that simple to me.
Score: 12 Votes (Like | Disagree)

Top Stories

iphone 12 colors 2021

iPhone 12 Colors: Deciding on The Right Color

Thursday November 5, 2020 8:35 am PST by
The iPhone 12 and iPhone 12 Pro arrived last October in a range of color options, with entirely new hues available on both devices, as well as some popular classics. The 12 and 12 Pro have different color choices, so if you have your heart set on a particular shade, you might not be able to get your preferred model in that color. iPhone 12 mini and iPhone 12 The iPhone 12 mini and iPhone 12...
iPhone 13 Dummy Thumbnail 2

Full iPhone 13 Feature Breakdown: Everything Rumors Say We Can Expect

Tuesday August 31, 2021 7:50 am PDT by
With the launch of Apple's iPhone 13 lineup believed to be just a few weeks away, we have compiled all of the coherent rumors from our coverage over the past year to build a full picture of the features and upgrades coming to the company's new smartphones. For clarity, only explicit improvements, upgrades, and new features compared to the iPhone 12 lineup are listed. It is worth noting that...
original iphone

Phil Schiller Says iPhone Was 'Earth-Shattering' Ten Years Ago and Remains 'Unmatched' Today

Monday January 9, 2017 7:15 am PST by
To commemorate the tenth anniversary of the iPhone, Apple marketing chief Phil Schiller sat down with tech journalist Steven Levy for a wide-ranging interview about the smartphone's past, present, and future. The report first reflects upon the iPhone's lack of support for third-party apps in its first year. The argument inside Apple was split between whether the iPhone should be a closed...
macbook air deals

Deals: Amazon Drops Price of 256GB M1 MacBook Air to New Low of $849.99 ($149 Off)

Friday August 27, 2021 6:16 am PDT by
Amazon today introduced new low prices on the M1 MacBook Air for both 256GB and 512GB storage options. To start, you can get the 256GB model for $849.99, down from an original price of $999.00. Note: MacRumors is an affiliate partner with Amazon. When you click a link and make a purchase, we may receive a small payment, which helps us keep the site running. Only Silver and Gold are...
iCloud General Feature

iCloud+'s New Custom Email Domain Feature Now Available in Beta

Wednesday August 25, 2021 7:48 am PDT by
Starting with iOS 15, iPadOS 15, and macOS Monterey, users with a paid iCloud+ storage plan can personalize their iCloud email address with a custom domain name, such as johnny@appleseed.com, and the feature is now available in beta. iCloud+ subscribers interested in setting up a custom email domain can visit the beta.icloud.com website, select "Account Settings" under their name, and select ...
iPhone 13 Dummy Thumbnail 2

Kuo: iPhone 13 to Feature LEO Satellite Communications to Make Calls and Texts Without Cellular Coverage

Sunday August 29, 2021 7:39 am PDT by
The iPhone 13 will feature low earth orbit (LEO) satellite communication connectivity to allow users to make calls and send messages in areas without 4G or 5G coverage, according to the reliable analyst Ming-Chi Kuo. In a note to investors, seen by MacRumors, Kuo explained that the iPhone 13 lineup will feature hardware that is able to connect to LEO satellites. If enabled with the relevant...
maxresdefault

New MacBook Pro Models Coming at WWDC, Suggests Leaker

Monday May 24, 2021 1:27 pm PDT by
New MacBook Pro models are coming at WWDC, according to leaker Jon Prosser who has a mixed track record when it comes to predicting Apple's plans. Subscribe to the MacRumors YouTube channel for more videos. Prosser provided no additional information, but there are new 14 and 16-inch MacBook Pro models in the works. The new MacBook Pros will feature the most radical redesign to the MacBook Pro ...
omg lightning cable comparison

Security Researcher Develops Lightning Cable With Hidden Chip to Steal Passwords

Thursday September 2, 2021 6:59 am PDT by
A normal-looking Lightning cable that can used to steal data like passwords and send it to a hacker has been developed, Vice reports. The "OMG Cable" compared to Apple's Lightning to USB cable. The "OMG Cable" works exactly like a normal Lightning to USB cable and can log keystrokes from connected Mac keyboards, iPads, and iPhones, and then send this data to a bad actor who could be over a...
ted lasso notchless phone

No, That Notchless iPhone Spotted in 'Ted Lasso' Isn't the iPhone 13

Tuesday August 31, 2021 2:15 am PDT by
Recent sightings of a notchless iPhone in highly popular Apple TV+ comedy "Ted Lasso" have led to sensational headlines suggesting this is a canny bit of product placement on Apple's part and that the iPhone 13 will be notchless. In actuality – and this could go without saying – the phone in question is very likely just showing a poorly superimposed display added in post-production. Notchless ...
calculatorapp

iOS 11 Bug: Typing 1+2+3 Quickly in the Calculator App Won't Get You 6

Tuesday October 24, 2017 2:03 pm PDT by
A bug in the built-in Calculator app in iOS 11 is getting some major attention this week, despite the fact that it's been around since iOS 11 was in beta testing. At issue is a calculator animation that causes some symbols to be ignored when calculations are entered in rapid succession. You can try it for yourself: Type 1+2+3 and then the equals sign into the Calculator app quickly. Due to...