Apple CEO Tom Cook made it clear that he was as disappointed as shareholders considering news of plunging share price figures. Apple shares have fallen about 35% since September when prices of shares stood at $705.07 (542.752 EUR). In a bid to pacify shareholders, Apple said that they will be launching new products for their customers this year though it’s not very clear as to what creative innovations blossom from the company. Apple will be expanding its portfolio of products to include wide and varied consumer goods to help build up sales percentage and improve financial condition of the company.
Share price rates led to talks which related to Apple increasing money returned to share holders which is currently low. A lawsuit pertaining to expedite this change was filed by David Einhorn against Apple. Pressure is mounting on Apple to pay out some money from its cash reserves to help mitigate the low return figures investors are being provided with currently. Last year during talks regarding the subject, Apple decided to pay a quarterly dividend of $2.65 per share and spend about $10 million to buyback its stocks a procedure which has enabled it to add $39 billion more to its cash reserves.
On a positive note, CEO Tom Cook wasn’t worried about the number of Android devices being used by individuals globally but said that quality and not quantity of devices sold was of major concern; he also made it clear that Apple would be entering into markets with a wider range of products to counter its competitors.