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Apple CEO Tim Cook Took Home $125mn in 2019, Less Than in 2018

The company's stock rose by nearly 90 per cent last year

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Apple CEO Tim Cook speaks during a data privacy conference at the European Parliament in Brussels. VOA

Apple CEO Tim Cook took home $125 million as his pay package in 2019, slightly lower (nearly 8 per cent) than $136 million which he received in total compensation in 2018.

According to an SEC filing, Cook received $3 million as base salary in 2019 but his bonus slid to $7.67 million from $12 million, reports Seeking Alpha.

“Cook’s total pay fell last year as the company failed to top its financial targets by as much as in 2018, but Cook still amassed $125 million in total compensation,” the report said on Friday.

APPLE’s board set less ambitious goals for 2019, lowering its sales target by 3 per cent from 2018 to $256.6 million and its profit target by 15 per cent (YoY) to $60.1 billion.

Cook, 59, earned about $11.56 million in non-equity compensation for 2019 — a 26 per cent decline compared to 2018 when he earned nearly $15.7 million.

“In 2019, Apple’s performance exceeded the target performance goals for both net sales and operating income, resulting in a total payout of 128 per cent of the target payout opportunity for each named executive officer,” Apple said in the SEC filing.

Apple, Tim Cook, Campus, China
Apple CEO Tim Cook discusses the new Apple iPhones and other products at the Steve Jobs Theater during an event to announce new products in Cupertino, California. VOA

Apple shares hit $300 for the first time in late December and closed at $297.43 on Friday.

Apple shares hit a new all-time high of $300 on Thursday, marking significant growth over the course of the last year.

In early January 2019, Apple shares were at $144.

Also Read: Reports Say, Indians Watched Over 2,200 Movies in Theaters in 2019

Apple stock has surged owing to reports of better than expected aCE iPhone 11aCE and 11 Pro sales and reports of stronger AirPods Pro sales.

The company’s stock rose by nearly 90 per cent last year. (IANS)

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Low-Cost iPhone to Get into Mass Production in February: Apple

The low cost successor to iPhone SE is getting into mass production next month

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The low cost successor to iPhone SE is getting into mass production next month and Apple could release it in March. Pixabay

There is a latest development in science and technology that the low cost successor to iPhone SE is getting into mass production next month and Apple could release it in March.

Apple is reportedly ready to return to the low-cost phone market after an absence of four years, CNET reported on Tuesday.

The handset — believed to be comparable in size to the 4.7-inch iPhone 8 from 2017 — would be Apple’s first low-cost smartphone since 2016’s $399 iPhone SE.

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Apple is reportedly ready to return to the low-cost phone market after an absence of four years, CNET reported on Tuesday. Pixabay

It is pertinent to note that the iPhone SE was one of company’s most successful mobile devices in the past half-decade because of a combination of reasons.

Price was a factor but it also offered long-time iPhone fans a reprieve from all the design changes that Apple was doing.

Also Read- Amazon Looks Forward To Expand its Prescription Drug Delivery Business

Planning for the new handset was reported in September by Japanese news outlet Nikkei Asian Review.

The phone will share most components with the current line up of iPhones and use a cheaper LCD display to keep the cost low, according to the Japanese paper, the CNET report added. (IANS)