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Apple’s annual shareholders meeting is taking place today at its headquarters in Cupertino where shareholders vote on proposals from both Apple management and other shareholders, and Apple fields questions from attendees at the meeting. While shareholder meetings aren’t broadcasted like earnings calls, a few members of the media are in attendance to report the event’s activities. Below is a roundup of news coming out of the meeting…
– Shareholders pass all Apple proposals
All Apple proposals passed, but exec comp one got 25.37% no votes, which is high.
— Philip Elmer-DeWitt (@philiped) March 10, 2023
– Cook says ResearchKit isn’t about ROI
Tim Cook says research kit has no business model or ROI – “this is not the lens at which we look at the world”
— Daisuke Wakabayashi (@daiwaka) March 10, 2023
– Cook reiterates China growth mentioned at yesterday’s event
Cook says “We are the largest American company in China… We are still learning. We are not experts.” Opening 40 stores there by mid-2023.
– Apple bought 23 companies in last 15 months
Apple acquired 23 companies in 15 months. “We are constantly on the look out for talent, for IP & for other things that are of interest.”
– Activist Jesse Jackson asks Cook to appoint an African American on the board, return overseas cash (Apple currently has a pending vacancy on its board)
Jackson asks Apple to put an African American on the board and to bring back offshore trillions to invest in his community
— Philip Elmer-DeWitt (@philiped) March 10, 2023
– Cook says Apple will continue to work on diversity
Tim Cook says he’s going to work on equality “until his toes point up”
— Daisuke Wakabayashi (@daiwaka) March 10, 2023
Asked about diversity, Cook points to Lisa Jackson. “She’s not hired because she’s African American, she’s hired because she’s perfect.”
– Amid Apple Car talk, shareholder says Apple should buy Tesla, Cook pushes CarPlay
Tim Cook, talking CarPlay today: “We know that when you step in the car you don’t want to step in a time capsule and go back 20 years.”
Apple shareholder says “I’d like to see you guys buy Tesla!”
— Daisuke Wakabayashi (@daiwaka) March 10, 2023
Tim Cook says we don’t have a relationship with tesla, wants them to use CarPlay. “Was that a good way to avoid the question?” Laughter
— Daisuke Wakabayashi (@daiwaka) March 10, 2023
Another tesla question – “we’re very focused on car play”
— Daisuke Wakabayashi (@daiwaka) March 10, 2023
– Shareholders pushing Tesla angle, Cook continues to dodge
Another Tesla question: “I think there is something about you two companies.” Cook: “Let me think if there’s another way to do a non-answer”
– Cook on IBM partnership…
Apple relationship with IBM is like glove on hand says Cook
— Philip Elmer-DeWitt (@philiped) March 10, 2023
10:10 last question from a man who bought stock when Cook gave up his bonus. “What can we do to help Apple?” Cook: tell us when we screw up
— Philip Elmer-DeWitt (@philiped) March 10, 2023
10:13 Apple shareholder meeting ends.
— Philip Elmer-DeWitt (@philiped) March 10, 2023
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