No set formula for innovation, so says firm's head honcho Tim Cook.
Speaking at the Goldman Sachs Technology and Internet conference, Apple CEO Tim Cook stated that his firm is "unrivaled" in innovation, as well as emphasizing that it has no limits.
"Innovation is strong as ever and in the DNA of the company," he said. "Apple is the center of innovation." He stressed that there is no given formula for innovation, and if there ever were one, wealthy firms would utilize their cash piles to acquire it. Innovation, according to Apple's leader, is ultimately achieved through skills and leadership.
"Apple has skills in software, hardware and services. The model that grew the PC industry where companies specialized. That model is not working for what consumers want today. Consumers want this elegant experience." He referred to the integration of hardware, software and services when he said, "I think we're unrivaled in that."
Cook's comments come after Apple lost its place as the world's most valuable company, as well as Apple's co-founder Steve Wozniak stating that the iPhone is "somewhat behind" on smartphone features. He previously expressed concerns regarding the company's creativity, while an analyst stressed that innovation at Apple is "sputtering."
After being sued in relation to demands that it share more of its $137 billion cash pile, Cook claimed that Apple has no limits. He assured investors and analysts that the best has yet to come, as Apple doesn't see any limits in making its products or the future of its business. "It's because of that that Apple's been able to do so many things for so many years, and do things that people didn't know they wanted and now can't live without. We don't think of the world with limits," said Cook.