Tim Cook: We Hate the Falling Stock, Too

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Cook added that the company was working on new product categories, but did not elaborate. “We invest in things we think are great to do,” he said, adding that the company only released products “deliberately and thoughtfully.”

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There was hardly any discussion on the company’s capital allocation policies, though Cook said Apple was in “very, very active discussions” about returning cash to shareholders. The chief executive, sometimes criticized for the direction he has taken Apple in since taking over from late co-founder Steve Jobs in August 2011, also enjoyed a 99.1 percent approval rating as the company’s complete board was reelected on Wednesday.

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