Friday, 18 January, 2019

Apple CEO Tim Cook Received a 22 Percent Pay Raise in 2018

Tim Cook earned more than $15 million in compensation in 2018.                  James Martin  CNET Tim Cook earned more than $15 million in compensation in 2018. James Martin CNET
Melissa Porter | 11 January, 2019, 16:26

Despite a year which saw a big chunk of the company's value wiped, Apple decided that such visionary management was worth a hefty 22 percent pay raise in 2018, bringing Cook's total compensation for the year to nearly $15.7 million.

When Apple announces a new product, it's generally an upgraded iPhone or a slightly more powerful version of an older gadget.

Apple CEO Tim Cook says he believes that his company's culture of innovation is "probably underappreciated" by naysayers.

During an interview with Jim Cramer on CNBC's "Mad Money" Tuesday evening, Tim Cook teased "new services" from Apple were coming in 2019, less than a week after the company shocked global markets with a warning about lower-than-expected iPhone sales. Since 2016, revenues from Apple's iTunes store, music streaming and other services have doubled to about $50 billion a year.

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.

"When I got to the ER, they did an actual EKG on a cart - the real deal", he said. (.) I'm not gonna forecast precisely, the ramps and so forth. "But I do think, looking back, in the future, you will answer that question, Apple's most-important contribution to mankind has been in health". What was it that we said about this case having more twists than a pretzel?

Cook earned a salary of $3 million, along with $12 million in cash incentives based on Apple hitting certain goals.

Apple has reportedly been struggling to sell its latest line up of smartphones, iPhone X, iPhone XS and iPhone XR. Mr. Cook said that he felt "Apple is not well understood in some of Wall Street".

Cook's comments that the Apple Watch represents 5 percent of sales and growing at 45 percent while Air Pods represents 1 percent of sales and growing at 87 percent is consistent with estimates. Recently, Apple also revealed that its wearable devices - Apple Watch 4 and the AirPods did very well previous year.