Tim Cook: Apple working on ‘Some Really Great Stuff’ In New Product categories

Apple’s latest buyback of above $14 billion in stock was talked about in an interview of Tim Cook by The Wall Street Journal. Apple’s CEO said that there will be new categories and though they aren’t ready to reveal things at the moment, great stuff lies ahead.

This isn’t the first time however Cook is purported Apple to introduce new product categories, but this conversation will WSJ shows more intent from him and major things ahead is a good news for Apple investors.

Daisuke Wakabayashi from The Journal says:

Thursday, Mr. Cook reiterated that Apple plans to enter a new category this year. Apple watchers are speculating about wearable devices or a new television platform.
“There will be new categories. We’re not ready to talk about it, but we’re working on some really great stuff,” Mr. Cook said. When asked whether a new product category could mean an improvement on an existing product like an iPad Air, a lighter version of its tablet computer, or new services such as mobile payments, Mr. Cook declined to comment.
He said that anyone “reasonable” would consider what Apple is working on as new categories.”

Cook also wanted to clearly point out that Apple is a ‘growth company’, because this is something that has been questioned time and time again in 2013. The iPad revenue and net income went to less than 10% and 11% respectively.

“He said his statement that Apple doesn’t aim to make the most phones has been misunderstood.
“I don’t view that as being satisfied with being small or however you want to define it,” he said. “I just want to say that the macro thing for us is making a great product and we must do that. If we can’t do that, we’re not going to force ourselves to hit a price point that makes us produce a product that we’re not proud of because we lose who we are in that. We’re not going to do that.”

Also, Cook mentioned acquisitions, saying that though Apple hasn’t made big moves in the last, it’s not that it can’t happen in the future.

“The Apple CEO said its history of opting for smaller deals doesn’t mean that the company won’t pull the trigger on a big acquisition if it makes sense.
“We’ve looked at big companies,” said Mr. Cook. “We have no problem spending 10 figures for the right company, for the right fit that’s in the best interest of Apple in the long-term. None. Zero.”

You can also read the whole interview… Cook seems more determined this time around than he normally is, and a progressive approach would make sense as Apple’s stock went down 8% after the company announced its Q1 earnings.