He told the WSJ that Apple has bought $14 billion of its own shares in the two weeks since reporting financial earnings, which disappointed Wall Street. Tim Cook reported that he was “surprised” by the 8% decline in its shares on Jan. 28, but says the buybacks show the team is really confident about the company’s future.
“It [buybacks] means that we are betting on Apple. It means that we are really confident on what we are doing and what we plan to do,” Mr. Cook told WSJ. “We’re not just saying that. We’re showing that with our actions.”
“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,” the report said.