In this Tuesday, Oct. 23, 2012, file photo Apple CEO Tim Cook speaks during an event to announce new products in San Jose, Calif. Apple CEO Tim Cook sought to assure shareholders Wednesday, Feb. 26, 2013, that the company is working on some "great stuff" that may help reverse a sharp decline in its stock price. (AP Photo/Marcio Jose Sanchez, File)
News Summary: Apple CEO addresses shareholders
Published: 10:38:52 PM, Wed 27 February 2013 UTC
CORE IDEAS: Apple CEO Tim Cook tried to convince shareholders that they will be rewarded if they hold on to the company's sagging stock. He told the audience at Apple's annual shareholders meeting Wednesday that the company is working on some "great stuff" to supplement its iPods, iPhones, iPads and Mac computers.
WITHERING: The collective wealth of Apple shareholders has plunged by $240 billion during the past five months as the company's stock fell 37 percent from its peak.
BUSHEL OF CASH: Cook didn't say if Apple will distribute some of its $137 billion cash hoard to shareholders.
Tags:
apple inc., steve jobs, macintosh, wednesday, news summary, shareholders, computer_internet, bushel, mac computers, iphone os, percent, iphone, stock, company, audience, iphones, ipod, great stuff, ipod touch, ceo tim cook, ipods, apple ceo, cash hoard, apple shareholders, mac os x, annual shareholders meeting, core ideas, collective wealth
