Apple CEO Tim Cook defended his vision for the company Tuesday, saying Apple still has big ideas ahead of it, despite its flagging stock price and recent criticism over tax practices.
In an interview with journalists Kara Swisher and Walt Mossberg at the start of AllThingsD's D11 conference, Cook hinted about the company's plan to focus on items such as "wearable" technology -- think watches or glasses -- that could provide Apple with new hits.
"I think wearables is incredibly interesting," he said. "It could be a profound area."
Apple is widely considered to be developing a "smartwatch," with analysts speculating that it could have a 1.5- to 2-inch display, with technology similar to the iPod Nano, on sale in 2014. Cook downplayed Google's foray into the wearable computing realm, saying Google Glass eyewear would not likely find broad appeal with consumers.
"I wear glasses because I have to. I don't know a lot of people who wear them because they don't have to," he said. "I think the wrist is interesting. The wrist is natural."
He refused to answer specific questions about new products. But he played up designer Jony Ive's involvement in the company's new operating system for the iPhone and iPads, scheduled to be released at its developer's conference next month. He also said he has a "grand vision" for television, but declined to get into details.
The comments came at the start of AllThingsD's annual confab in Rancho Palos Verdes, Calif., seen as one of the most influential conferences in the technology industry. Everyone from Tesla CEO Elon Musk to Facebook's chief operating officer, Sheryl Sandberg, will speak over the next two days. (Follow continuing coverage here.)
Cook mostly used the interview as a chance to emphasize the company's strengths following a combative session on Capitol Hill last week. Senators accused Apple of avoiding $9 billion in U.S. taxes; Cook said Tuesday that the tax code required more simplicity.
When asked about Apple's $145 billion cash hoard, Cook said the company had already acquired nine companies in the past fiscal year, and wouldn't rule out a big purchase.
He also acknowledged the company's stock price, which has fallen 21 percent over the past year. "It's been frustrating for investors and all of us," Cook said. "What we have to do is focus on products."
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