Apple Inc. AAPL CEO Tim Cook has shared insights on the company’s future, touching on the iPhone 16’s new camera button, Vision Pro sales, and AirPods’ evolution.
What Happened: In an interview with WIRED published on Wednesday, Cook was asked about the decision to add a physical button to the iPhone 16 for camera control—a stark departure from Steve Jobs' aversion to buttons.
Cook replied, "I don't know what Steve would have thought," but believed the change was essential for improving user experience.
On generative AI, Cook described it as "a wave" that grew over time. He noted Apple's foresight in incorporating a neural engine into its products back in 2017, recognizing early that AI and machine learning would revolutionize technology.
The Apple CEO also addressed reports of slower-than-expected Vision Pro sales, describing it as a product for early adopters. "The ultimate test for us is the ecosystem."
Regarding AirPods' future role in addressing hearing loss, Cook framed it as a democratization of health. The tech giant aims to reduce the stigma of traditional hearing aids and encourage self-diagnosis.
When asked about his tenure as CEO, Cook admitted he hasn't set a firm timeline for his departure. "I'll do it until the voice in my head says, ‘It's time,'" he said. "But it's hard to imagine life without Apple."
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Why It Matters: Earlier this week, speculations rose about Cook’s potential retirement and the search for his successor. At 63, his tenure has surpassed that of many Fortune 500 CEOs.
Last month, Apple reported fiscal fourth-quarter revenue of $94.9 billion, surpassing analysts’ projections of $94.56 billion. The tech giant also reported adjusted earnings of $1.64 per share for the quarter, exceeding the anticipated $1.60 per share.
Price Action: Apple’s stock gained 0.021% on Thursday, closing at $243.04, before slipping 0.045% in after-hours trading to $242.93. Year-to-date, Apple shares have risen 30.92%, outpacing the Nasdaq 100 index, which has increased by 29.50% during the same timeframe, according to data from Benzinga Pro.
Apple’s consensus price target, based on assessments from 31 analysts, stands at $242.26, with the highest target of $300 issued by Wedbush on Nov. 29. Latest ratings from Wedbush, Morgan Stanley, and Maxim Group average $262.67, indicating a potential upside of 8.12%.
Photo via Shutterstock/ photovanessacarvalho
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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