Apple Inc hiked the salary of its chief executive Tim Cook by 22 per cent during the past year, resulting in his remuneration for 2018 reaching nearly $15.7 million, a filing submitted to the US Securities and Exchange Commission showed.
"For 2018... we achieved net sales of US$265.6 billion and operating income of US$70.9 billion, each representing a year-over-year increase of 16 percent, and exceeding the 2018 maximum annual cash incentive program goals for both of those performance measures", the filing read.
Apple's shares, recently up about 2% to near $154-though still down in 2019-have gained as the company has sought to demonstrate that it has charted a path toward growth by focusing on selling more services and worrying less about iPhone sales.
Cook seems to be most enthusiastic about Apple's health-related efforts, which have gotten far more serious with last year's launch of ECG and irregular heart rhythm notifications features for the Apple Watch. Last year, the internet was flooded with news articles pertaining to Apple hiring a bunch of video executives and also getting directors like Steven Spielberg on board for creating in-house content. To be included in the Services and Health sector, these new services would reportedly be of a big magnitude and could even be counted among one of the greatest contributions from Apple towards mankind.
'There will more things coming.
Investors and Apple enthusiasts will be treated to "material" new additions to its services in 2019, the CEO told Cramer.
AT&T exec defends fake 5G logo, despite other carriers slamming move
Don't think you've got 5G cellular service just because of that that 5GE logo on the top of your phones. In response to AT&T's antics, Verizon took out full-page ads in The Wall Street ...
"When I got to the ER, they did an actual EKG on a cart - the real deal", he said. "We're democratizing it. We're taking what has been with the institutions and empowering the individual to manage their health".
In fact, looking back from the future, Cook said, Apple's "greatest contribution" won't be the iPod, or the iPhone, but rather its health technology.
Apple may be best known for the iPhone, but it's spending over $1 billion per month on research and development to develop new products that could enable its customer base (and revenue) to grow once more.
Apples average worker earns $55,426 which implies that Cook's compensation, excluding his restricted stock, is 283 times what an average Apple employee makes.
"Let's just take wearables as an example, mainly the Apple Watch and AirPods".