“We don’t know what Apple has in store for us. Over the past 10 years, it reinvented the telephone, music players, the way we consume music, and mobile computing itself — actually, with the iPad, Apple invented mobile computing,” Pallotta writes. “It has changed the world. It is now selling the products that define that new world to the world. Even if it has nothing more up its sleeve than beautiful new iterations of its existing products, the fact remains that this is a company that last quarter had profits of more than $8 billion. Compare that with Amazon’s performance: Amazon lost $247 million in its last quarter. Amazon’s price-to-earnings ratio is now 2,767. Apple’s is 13. And Apple’s profits are growing substantially year over year.”
Pallotta writes, “The critics that are screaming right now are intellectually lazy. They’re throwing temper tantrums instead of looking at the big picture. Like two-year-olds, they don’t really know what they want. And they’re not happy when they get it, anyway. Apple could unveil a new car and they’d say Apple’s days are over because it’s just bet its future on an industry it knows nothing about. Not unlike, say, Apple’s entrance into the mobile phone industry. I bet that if Apple did unveil a time machine, they’d claim it wasn’t fast enough.”
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MacDailyNews Take: Underestimating Tim Cook, Jony Ive, and Co. is a fool’s errand.