Apple CEO confident of prospects despite naysayers

Apple has a big new product coming this year - but it might not be what you expect

Apple has a big new product coming this year - but it might not be what you expect

The CEO remained tight-lipped about the exact nature of the company's plans, but did put a lot of emphasis on healthcare in an interview with CNBC. After releasing the Apple Watch Series 4 past year, with its innovative ECG (electrocardiogram) reading capabilities, the company is now on track launch new features aimed at helping people to better manage their health. But they're things that we feel really great about, that we've been working on for multiple years. In 2017, Cook said he wanted Apple's services revenue to double by the end of 2020, a sentiment he reiterated in Tuesday's interview. "In fact, categories outside of iPhone (Services, Mac, iPad, Wearables/Home/Accessories) combined to grow nearly 19 percent year-over-year", also stated Cook in his letter.

Cook is optimistic on trade relations and believes US-China regulations will be updated to reflected a more global economic landscape. The world relies on a "strong US and China for the world economy to be strong". Behind the company's line of products is a "culture of innovation" that satisfies the many wants and needs of the "incredible, loyal customers".

Cook said he wasn't surprised by the market reaction, calling it "quite emotional in the short term". "The ecosystem has never been stronger".

In his interview with Cramer, Cook said trade tensions between China and the U.S. created the sharp downturn, but he said he believes the situation is temporary.

Cook's commentary of new services launch in 2019 is inline with expectations and could come from a relaunch of the digital magazine service Texture which Apple bought in 2018.

Cook also spoke about Qualcomm, the chip maker it is now locked in a legal battle with over unfair patent licensing practices.

Last week, Apple reported that iPhone sales have slumped, particularly in China where it is facing tougher competition from homegrown firms such as Huawei and Xiaomi. "They charge exorbitant prices".

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