Despite the concerns of Wall Street, Apple CEO Tim Cook spoke confidently of the firm’s future as well as its current situation to hundreds of Apple denizens at a meeting on the company’s campus.
The Los Angeles Times reported that the crowd was made up of mostly regular people curious to know about the state of Apple. Cook spoke of the company’s $155 billion in revenue for 2012, a $48 billion increase over 2011, and that its future is bright. It was the largest quarter of any technology company in history, according to Cook.
If shareholders were looking for a reason to be optimistic, Cook said Apple still believed its current products had enormous growth opportunities. The smartphone market is expected to double by 2016, and the tablet market is supposed to triple by then, Cook said.