Tim Cook claims Apple’s long-term health has ‘never been better’

Tim Cook claims Apple’s long-term health has ‘never been better’

Tim Cook claims Apple’s long-term health has ‘never been better’

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. That's about $US33,000 ($46,000) a day.

It claimed that for 2018 Apple achieved net sales of $265.6 billion and operating income of $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.

Repeating that feat may be challenging. Last week, Apple disclosed lower-than-anticipated demand for iPhones in China and elsewhere, and cut its revenue forecast for the first time in nearly two decades.

Apple stock has lost 14 percent of its value over the last 12 months.

Four other Apple executives got bonuses of $4 million, bringing their total pay to about $26.5 million each, including salary and stock awards.

VideoApple has acknowledged that demand for iPhones is waning. Cook still owns more than 1.5 million Apple shares worth about $189 million at the current share price. After investors received the guidance on lower revenue for Q1 2019, Apple shares continued their downward slide, which has been pretty much nonstop since the company posted its Q4 2019 results.

The number of shares he receives partially depends on the performance of Apple's stock compared with other S&P500 companies. That's exactly what executives say every year, but this time Cook sounds a little bit more annoyed that he has to defend Apple's innovation yet again.

Details about what the company paid chief design officer Jony Ive, considered by some to be the firm's most important employee, weren't disclosed.

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