Tim Cook talks Apple Pay and wearable growth at shareholder meet

Apple's Wearables Business Revenue Is Fortune 300-Class Company Says Tim Cook

Not surprisingly, Cook dodged the question, rising from his seat because he said it suddenly felt "a little hot".

Apple shares ended 1% lower at $164.34, in the United States session, Tuesday. But didn't giving any other specifics.

San Francisco: Apple Inc. chief executive officer Tim Cook told shareholders at the company's annual meeting to expect higher dividends and stressed that succession planning is a priority.

Cook dismissed the possibility of a one-time payment known as a special dividend, saying he didn't think that form of distribution "really helps the company or shareholders". Spotify, the music streaming pioneer that Apple is trying to upstage, has more than 70 million subscribers. Seeing as Apple's current stock price is falling, albeit, at a slow rate, this will surely be brought up by the investors themselves.

The annual meeting was the first one held at Apple's new Cupertino, California, campus, which some people have nicknamed the "spaceship" due to new $5 billion building's circular shape. A shareholder asked Cook if the tech firm was considering doubling its dividend under new USA tax laws allowing corporations to repatriate overseas profits and benefit from a lower rate.

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"We're going to pay $38 billion more in taxes, we could've left it were it was and not paid".

Apple Watch Series 3 sales - the most recent model, which includes the option of integrated LTE for more standalone use away from an iPhone - have been outstripping the Series 2 version by 2:1 in the holiday quarter, Cook confirmed.

Cook also confirmed that Apple had a fair number of acquisitions in 2017, something the company is traditional loath to announce.

At the time, Cook wasn't expressing a belief in the transience of all material things, but addressing the company's mobile payment solution, Apple Pay, which has "an extraordinary future ahead of it", according to Cook. "We want to pay and for wanting to pay we'd like to use the residual profits to invest in this country", Cook explained.

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