February 12, 2013
Tim Cook’s presentation at the Goldman Sachs Technology and Internet Conference offered a rare glimpse behind Apple’s curtain. For nearly 60 minutes, the Apple CEO discussed a range of topics. These included worries by some about iPad cannibalization, Apple's new executive team, and more. Here is a brief overview of what Cook discussed: Cannibalization of iPad Cook said that he isn’t worried that small tablets, including the iPad mini, are going to cannibalize sales of the pricer (and more profitable) iPad. He expects, however, that as the tablet market gets bigger, Apple’s share of that market will continue to drop. Brushing off cannibalization talk Cook said, "If we don’t cannibalize it, someone else will." Apple Leadership During his chat, Cook suggested that things were just fine at Apple’s corporate offices even after the removal in October of two members of the company's executive team. "When I look around the executive table, I see superstars. I see people who are at the top of their game," Cook explained. In Jony Ive, Cook sees the “best designer in the world,” while Bob Mansfield is the top “Silicon expert in the world.” Last fall, Cook fired Scott Forstall, Apple's vice president of iOS software, and John Browett, the head of Apple retail. The Apple Store as Prozac Perhaps Cook’s most interesting comment came when he discussed the success of Apple retail stores. According to the CEO, going into one of the company’s stores is like taking an antidepressant, especially when one is feeling down. Cook said, "If i ever feel like i’m dropping down to a level that’s below excited, I go to the Apple Store. It’s like a Prozac." Apple’s future Finally, Cook touched briefly on his company’s recent falling out with Wall Street investors. He stated:
The profound decisions we make are for Apple’s long-term health. We know people care about quarters, and we care too, but we’re making decisions to ensure Apple’s health past a ninety-day window.To listen to Cook's entire presentation, click here.