In an interview with the Wall Street Journal on Thursday, Apple CEO Tim Cook was very bullish on his company’s future.
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.”
In addition, Tim Cook had some good news for Apple fans and investors. He told the WSJ that Apple will be entering a new product category this year.
“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.