Cook said that his company's health-focused innovations may be "Apple's greatest contribution to mankind".
While the company is most known for the iPhone, they generated a staggering $100 billion in revenue from other products. On a trailing basis (.) the revenue from wearables is already 50 percent more than iPod on its peak. "(.) Also, if you take AirPods and the Watch separately, and you sort of back these up and align it to the launch date of iPod as well (.) you will find that each one independently is like four to six time ahead of where iPod was in a comparable amount of time", he said.More news: Nearly Twice As Many People Watched Trump’s Speech On Fox News
Apple's services, which include the App Store, iTunes, Apple Pay, Apple Music and iCloud, have been growing rapidly quarter over quarter. "In fact, categories outside of iPhone (Services, Mac, iPad, Wearables/Home/Accessories) combined to grow nearly 19 percent year-over-year", also stated Cook in his letter.
Cook is optimistic on trade relations and believes US-China regulations will be updated to reflected a more global economic landscape.
Cook went on to say that he's not "defensive on it", and that people can say what they want.More news: Leaked: Is this the 2020 BMW 7 Series sedan?
Cook, in an interview with CNBC just six days after a sales warning sent shares skidding, highlighted a "culture of innovation" that he predicted would keep Apple a major force in technology. Apple's stock grew to record highs past year before taking a big hit in the last quarter after Wall Street grew concerned over iPhone sales and production issues.
Cook also addressed criticisms that the iPhone XR was a flop, calling it "baloney". He views Qualcomm's actions regarding patents and licensing as illegal.More news: White House: Tax returns will be sent out despite government shutdown