"Apple's Tim Cook talks up wearables, mobile payments and healthcare"
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CNET News Video
CNET News Video
Apple's Tim Cook talks up wearables, mobile payments and healthcare
I'm Shari Tipton with CNet news, I'm here in Cupertino, California at Apple Park, Apple's new campus.
The company help it's annual shareholder meeting here for the first time and there were tons of investors out to learn what's in store for Apple.
The first part of the shareholder meeting is pretty routine.
They re-elect board members, they hear other proposals about compensation.
This year there was a proposal from a shareholder to set up a human rights committee.
That did not pass.
It's really the second part of the shareholder meeting that everybody's coming for.
And that's the Q&A with Tim Cook.
So this is an opportunity for investors to kind of ask basically anything they want.
And we really saw a lot of that here today.
One investor asked if Apple was going to get into oral health care.
Tim Cook said no.
We also had a lot of compliments, people saying how much they liked campus.
People I talked to, that was a really big reason why they wanted to come out here today.
They wanted to see what Apple Park looked like, they wanted to go into Steve Job's theater.
They wanted to see Tim Cook in person.
A few things that [UNKNOWN] talked about were pretty interesting.
He said the mobile payment hasn't taken off quite as quickly as he thought it would.
When I talked to [UNKNOWN] a couple of years ago at [UNKNOWN] he said he believed that Apple will kill cash.
Now he is saying he hopes that cash is dead before he dies basically.
[UNKNOWN] also talked about healthcare.
Apple really see this as a big opportunity for them.
In doing things that it doesn't necessarily mean that this is something that they have to do to get reimbursed from the federal government.
He also talked about tax reform.
This was kind of a huge thing for Apple this year.
The have almost $300 billion in cash, most of it's overseas.
With the tax reform passed in Congress, Apple's able to bring it back with paying only $38 billion in taxes.
Tim Cook talked about the benefits of that for Apple and for the shareholders.
We also heard about some other There are areas like wearable's with AirPods, Apple Watch, this is becoming a really big business for Apple.
He said it's about the size of a Fortune 300 company at this point.
Then there are some other comments about R&D Other random questions.
There always seem to be people wanting almost tech support.
One woman asked when the iPhones would be waterproof, which they've been water resistant for a couple generations now.
I'm Shara Tipkin with CNet news, thanks for tuning in.
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