Apple's 2-hour shareholder meeting is today in Cupertino, California.
The meeting recently adjourned and during the Q&A, Tim Cook was asked about Apple's tanking stock price.
He replied:
"I don't like it either. Neither does the board or management — where the stock trades now versus a few months ago — but we're focused on the long term."
He added that Apple has some exciting things in its pipeline.
"We are in markets that are fast growing ... Obviously we're looking at new categories — we don't talk about them, but we're looking at them," Cook said.
"It's been an incredible year of innovation at Apple," he said, noting that the company grew about $48 billion during the last fiscal year. That's more than Google, Dell, Microsoft, HP, RIM, and Nokia combined.
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