Last night, Tim Cook sat down with Jim Cramer on CNBC’s Mad Money to discuss the “huge over reaction” Wall Street had over Apple’s Q2 Results. Cook spoke to the future of Apple, “We are going to give you things that you can’t live without that you just don’t know you need today.” “That’s what I want.” replied Cramer. And I echo his response with a resounding, “me too.” Tim Cook also put Apple’s quarter earnings into perspective, reminding us that by regular standards Apple had an incredible quarter with $10 billion in profits, which is “more than any other company makes.”
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In the interview, Tim Cook was vocal about bringing iPhones to the world, reminding us Americans that while we might be bored with our incredible devices, many have yet to own one. “Eventually everyone in the world will have a smartphone,” said Cook. About 40 percent of the world has access to smartphone tech, which leaves a giant market remaining untapped. Cook spoke to the success of the iPhone SE in China and the slew of switchers from Android to Apple. He also touched on a huge area of potential, India. “This year, LTE begins to roll out [in India]. And so many of your viewers here in the United States, they’re used to using LTE and streaming video. And hopefully they’re getting a good experience there. In India you can’t do that long – there is no LTE. And so that’s changing.”
Cook spoke to the idea that the Apple Watch is a bust. He believes, in retrospect, it will be seen as an overnight success. “If you look at iPod, iPod wasn’t viewed as a success, but today it’s viewed as an overnight success. The iPhone was the same way. People were writing about there’s no physical keyboard. Obviously nobody would want it. And so I think that in a few years we will look back and people will say, “How could I have ever thought about not wearing this watch?” Because it’s doing so much for you. And then it will all of a sudden be an overnight success.”
To read the full transcript, click here. You can also watch the interview below.
