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On Mad Money, Apple CEO Tim Cook brightens China earnings picture, announces $1B U.S. jobs fund


The Apple CEO gave an interview to Mad Money‘s Jim Cramer, apparently in an effort to further spin Apple’s less-than-stellar financial results reported Tuesday. Above all Cook added some additional color to Apple’s progress in China, saying:

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• Sales of Macs grew 20% year-over-year in China during the March quarter.

• Sales of the Apple Watch “grew nicely.”

• Apple’s growing (digital) services business is “on a tear there.”

• Cook reiterated that iPhone sales are now being depressed as users delay upgrading until the launch of Apple’s next phones.

In the same interview Cook said Apple plans to start a $1 billion fund to invest in companies that will create “advanced manufacturing jobs” in the U.S. He said the first investment will be announced later in the month. 

Watch the full interview here

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