Apple CEO Tim Cook optimistic about ‘strong rebound’ after coronavirus

Apple CEO Tim Cook, who comes from an explosive quarterly report, is confident that the U.S. economy can make a healthy recovery.

“I am still optimistic because we are going into this very strongly. And I think, I think more encouragement is required, but I am optimistic that it will happen. And yes, I think we can, we can have a strong recovery,” Cook told FOX Business.

Cook’s comments came on the same day that US GDP collapsed by 32.9 percent in the three months to June,

The leader of the iPhones maker also gave existing investors an extra surprise; a four-for-one stock split that may attract a new crop of investors.

The move is offered “to make the shares more accessible to a broader investor base,” according to the earnings release.

APPLE TO DIVIDE NEXT STOCK OF BLOCKBUSTER’S EARNINGS

At the close of business on August 24, each registered shareholder of Apple will earn three additional shares for each share they own. Division-adjusted trading will begin on August 31. Apple previously had a 7-for-1 stock split in 2014.

Apple shares have gained 31 percent this year, beating the Nasdaq Compound’s 18 percent gain.

Despite the global coronavirus pandemic that has paralyzed retailers forced to close stores indefinitely, Apple managed to record an 11 percent rise in revenue to $ 59.7 billion, above the $ 52.2 billion Wall Street forecast. .

The technology giant was able to achieve this growth despite the fact that a good part of the stores remain closed.

“We are 75% open today, worldwide and we are making the decision on a store-by-store basis, county by county depending on local conditions,” Cook said.

BIG TECH CEOS DIVIDED INTO THE THEFT OF CHINESE TECHNOLOGY

The results come a day after Cook and fellow tech titans on Amazon, Google and Facebook appeared in Congress to defend their business models and work in China.

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Suzanne O’Halloran of FOX Business contributed to this report.