Apple is far from alone in plotting big moves in health care.
Cook was speaking today at the Apple shareholders' meeting, which was held for the first time at the company's new Steve Jobs Theater at Apple Park.
"I don't think it helps the company and probably doesn't help long shareholders either". But Apples board of directors and management are "committed" to increasing their annual dividend payment to shareholders, he added.
Apple is hoping to gain more ground on Spotify with an internet-connected speaker called the HomePod.
While Apple Pay has reportedly failed to catch on with the majority of iPhone owners - as humanity does not desperately require yet another way to pay for things - Cook nevertheless expressed his desires to surpass the lifespan of tree-based fiat money. According to Cook, the combined revenue from all those products is nearing that of a Fortune 300 company. Apple's CEO told shareholders he considers the company to be well-placed in the sector. Over the whole year, the CEO said, Apple bought 19 companies. While Apple Pay has an "extraordinary future ahead of it", the acceptance of mobile payments has taken off slower than he expected, Cook said.
Prodded by the lower rate on foreign profits, Apple will pay a $38 billion on its repatriated cash and use some of the money to hire 20,000 more US workers and build a second corporate campus in the country to supplement its sprawling headquarters in Cupertino, California.
"After they've paid their taxes and repatriation, Apple will have somewhere around $230 billion in cash".
"We are saying we would like to pay (the tax) and for paying we would like to use the residual profits to invest in this country", Cook said.
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