mobanmarketApple exceeded its targets of $256.6b in net sales and $60.1b in operating income for fiscal 2019
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San Francisco: A weaker-than-expected market performance last year resulted in a $11.6 million dip in Apple CEO’s annual pay package in 2019, according to the documents filed in the US Securities and Exchange Commission (SEC).
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Cook still took home nearly $125 million as his total compensation (including Apple shares worth 113.5 million) — nearly 8 per cent lower than $136 million he received in total compensation in 2018.
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According to the 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.
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“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.
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The Apple CEO also received over $800,000 in other compensation.
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Apple exceeded its targets of $256.6 billion in net sales and $60.1 billion in operating income for fiscal 2019.
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Cook, who became Apple CEO in 2011 has so far taken $963.5 million in total compensation, according to information services firm Equilar.
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Apple shares hit a new all-time high of $300 on Thursday, marking a significant growth over the course of the last year. In early January last year, Apple shares were at $144.
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Apple stock has surged owing to reports of better than expected iPhone 11 and 11 Pro sales and reports of stronger AirPods Pro sales.
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The company’s stock rose by nearly 90 per cent last year.
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For its fiscal 2019 fourth quarter that ended September 28, Apple posted quarterly revenue of $64 billion — an increase of 2 per cent from the year-ago quarter, and quarterly earnings per diluted share of $3.03, up 4 per cent.
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International sales accounted for 60 per cent of the quarter’s revenue.
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For its fiscal 2020 first quarter (October-December period), the company expects revenue between $85.5 billion and $89.5 billion and operating expenses between $9.6 billion and $9.8 billion.
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