While it seems as though Apple has been just been making more and more money this past couple of years. This is reinforced by facts such as that the Apple App Store reached around $8.6 billion in sales in the last year alone. However, Apple has actually had a regression in their overall sales figures and their top-ranked employees have now live with the repercussions.
There are many factors that could have lead to the decline of Apple's performance. For starters, there was a considerable dip in the sales figures of one of Apple's flagship products, the iPhone, as well as the Apple Watch in 2016. The new MacBook Pro was also released late on in the year, so much so that it may not have been able to have a sizeable impact on that year's sales.
Apple released a regulatory filing to the Security and Exchange Commission (SEC), which revealed that they fell short of their targets for both net sales as well as operating income, ZD Net reported. The company's net income came in at a staggering $215.6 billion, but was still 3.6 percent short of its $223.68 billion target. Their operating income of $60 billion almost made the cut, but in the end was .5 percent short.
Because of these missed targets, Apple CEO Tim Cook's pay in 2016 was decreased by 15 percent to $8.7 million. Cook's salary actually increased from $3 million from $2 million in 2015, according to CNN. However, his cash bonus was lessened because the aforementioned targets were missed.
Although Cook's total Apple compensation was decreased from $10.3 million in 2015 to $8.7 million in 2016, he is still a very rich man. In fact, the majority of his wealth comes from his vast amount of Apple shares. All in all, the shares Cook owns are worth around $136 million.
Cook made less money in 2016 than a number of his top officers. The salaries of six Apple executives including CFO Luca Maestri, Retail SVP Angela Ahrendts, Internet Software and Services SVP Eddy Cue, Hardware Engineering SVP Dan Riccio were also made public in the company's report to the SEC. These high-ranking officials made around $23 million each last year.
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