Apple Chief Executive Officer Tim Cook admitted to shareholders at the company's yearly meeting on Wednesday that he didn't like the downward trajectory of the company's share prices. He was responding to alarm by shareholders that Apple stocks are down 37 per cent since September 2012.
The decline in Apple's value came just over a year after the death of founder Steve Jobs and rival Samsung's eating into its market in the smartphone category. The tough competition has resulted in several ongoing legal battles in different countries.
Mr Chases attributed the plummeting value of Apple to device glitches, missed deadlines and high prices.
Apple, however, is far from bankruptcy as it has a $137 billion cash hoard which shareholders want to be returned to them in the form of dividends. However, Apple proposed that the cash be issued instead as preferred shares. A judge favoured the cash dividend.
Mr Cook assured shareholders that Apple is in very active discussions what to do with the cash stockpile.
The stock value decline has so far wiped off about $240 billion for shareholders' wealth. To reverse the downward movement of Apple stock, Mr Cook said the tech giant will roll out soon Apple products but did not elaborate on what devices will be launched soon.
Analysts are recommending a sell for Apple stocks.
Speculations swirl around the iPhone 6 and the iPad Mini 2.