Tim Cook, Chief Executive of Apple Inc., said Wednesday he foresees the company being responsible for “several more gamechangers” and that computers with ability to be worn as accessories are the future, according to Reuters. “It's an area where it's ripe for exploration," Cook said at the All Things Digital conference.
The conference, which is held every year, includes many media and technology executives. It is held in Rancho Palos Verdes, a resort town in California.
"It's ripe for us all getting excited about. I think there will be tons of companies playing in this,” he added.
Cook did not say whether or not Apple was actually developing a wearable computer. However, he did take the time to jab at the Google Glass, saying the device will not be attractive to everyone.
"There's nothing that's going to convince a kid who has never worn glasses or a band or a watch to wear one, or at least I haven't seen it," he explained. "So I think there's lots of things to solve in this space."
Cook also hinted at a “grand vision” he has for television that will be more than the Apple TV. However, he left it there and did not give any details.
The head of Apple was asked if he thought Apple had begun to take a step back. He replied “absolutely not,” stating a bunch of the company’s statistics on device sales and usage. He did however, admit frustration over the recent drop in the firm’s stock price.
Since the company hit a close of $702.10 in September 2012, a record for Apple, it has dropped 44 percent. It has reduced more than $280 billion in market share, which Reuters says is “more than the entire market capitalization of Google.”
The biggest technology company in the world reported a profit decline in the first quarter of 2013—something that has not happened in more than 10 years. It saw a loss of support from fund managers John Griffin's Blue Ridge Capita,l which sold its shares, and Chase Coleman's Tiger Global Management, which also distanced itself from the makers of the iPad and iPhone.
Despite growing doubts, Cook is working to restore confidence in the company and says Apple will increase its cash return program to $100 billion in the next two years.
