real-time news and commentary for investors
Thursday, Aug 8
Report: Apple board pressuring Cook over "pace of innovation"
- Citing sources, Fox Business' Charlie Gasparino reports (video) Apple (AAPL) board members are pressuring Tim Cook over the company's "pace of innovation."
- Gasparino suggests a recent shortage of groundbreaking new products is "manifesting into pressure on Tim Cook to basically innovate, do something fast."
- However, he adds "this doesn’t mean that Tim Cook is out of a job." "I don’t believe that’s happening, and sources inside Apple are telling us that’s not the case"
- Apple has ceded international smartphone share over the last year amidst growing calls to offer cheaper and bigger iPhones. The former appears set to arrive shortly; the latter is reportedly in the prototype stage.
- Multiple reports indicate an iWatch is in the pipeline. But a July FT report suggested hiring activity points to a 2H14 launch.