Apple working on "products that will blow your mind"

Mark Lennihan

(CBS/CNET) - Apple held its annual shareholders meeting today and shed light on the company's products, stock pile of cash and relationship with Facebook.

CNET was at the meeting and reported that Apple will now require board directors to receive a majority vote from shareholders - otherwise they must voluntarily resign from their positions.

Full coverage of Apple at Tech Talk
CNET: Apple puts board re-election in the hands of shareholders

According to Forbes, Apple chief executive officer Tim Cook told investors, "You can be assured we are working as hard as ever this year to deliver an incredible year and some products that will blow your mind." This shareholders meeting was the first for Cook.

Apple's relationship with Facebook was addressed briefly.

"We do a lot with them," Cook said. It's "not like there's a significant overlap in what we do. I've always thought the two companies could do more together."

Cook didn't give much insight to what Apple would do with its large stockpile of cash.

"I'd be the first to admit we have more cash than we need to run the daily business," Cook said. "So we're actively discussing it. I only ask for a bit of patience, so we can do it in a way that's best for the shareholders."

According to CNET's Josh Lowensohn, "Cook waved off a question about the company doing a TV set." And denied Apple was working on a "home of the future."

Full coverage of Apple's stockholders meeting at CNET.

[omnibus66]

Apple working on "products that will empty your wallet"

[askagain]

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