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This is Tim: Cook at the 2013 Goldman Sachs conference

Macworld staff | Feb. 13, 2013
On cash balances

But our store is a place to go and explore and discover and try it out and see what it will do, and I don't think that the launch would have been nearly as successful without stores that welcomed people in--at 10 million a week--and showed it. I think it gives Apple an incredible competitive advantage to have these stores, [because] I think everybody that's tried it has found out it's not so easy to replicate in order to launch these products and really educate people about a new category.

So I'm incredibly bullish on the stores. We're going to continue to invest like crazy in them, and our team members are the best in the world. And the financial results are great: The average store last year was over $50 million in revenue. Who would have thought a store could do that? I think there's no place quite like it.

I was talking to some employees the other day. I don't have many bad days--I'm very fortunate from that point of view--but if I ever feel I'm dropping down from an excited level, I go in a store. And it instantly changes, it's like Prozac or something, I don't know. It's unbelievable, the energy in our stores, and to talk to our team members and our customers. It's a feeling like no other. We're continuing to invest here.

On his first year as CEO

I'm incredibly proud over a lot of things. I'm most proud of our employees. I have the privilege every day of working with people who want to make the very best products in the world, and they're there, to do not only great work, but the best work in their lives, and they're there to do it without limits, they're the most creative people on earth. It's the privilege of a lifetime for me, to be at Apple in this point in time and work with all these people.

I'm incredibly proud of the products that we have. We have the best smartphone on the market; we have the best tablet on the market; we have the best PC on the market; we have the best digital music player on the market. For those things that we've elected to do, and we continue to focus on a few, they're really great. And I'm incredibly bullish about the future and what Apple can do and more contributions it can make to the world.

I'm very proud that we're out front--that we have a spine on supplier responsibility. I'm incredibly happy that we're changing people's lives, that we don't care if people are lobbing grenades from the sidelines, that we're going to do what's right and just and moving the ball forward.


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