“New product categories” is probably the biggest headline and, ultimately, the buyback is what it is, but for Apple to be a grwoth story they’ve got to continue to innovate. I think there’s just been this belief that Apple’s innovation period is in a lull or even stalled out and I think that’s probably the biggest takeaway [from today's earning and conference call] that we’re going into a good year…
There is a cheaper phone coming… but that cheaper iPhone doesn’t play into Tim Cook’s “new product categories” comment. Historically, they have talked about “new products” and being excited about future “new products,” but they haven’t talked about “new product categories…”
I think they clearly want to do more in TV. When we talk to other players in the TV industry, they’re convinced that Apple’s going to do something there. The timing’s always been the question. This is something that people have been talking about for a long time…. So, I think that;s one thing. The second is wearable technologies. We have a little bit less insight into what’s going on there, but they hired the guy who ran wearable technologies for Motorola about a year and a half ago… And the last thing, if you want to call this a “product category,” is this idea of mobile payments. Basically, turning your phone into a digital wallet, so you don;t have to wait in line as much or worry about receipts and loyalty programs. — Piper Jaffray analyst Gene Munster
He speaks with Emily Chang, Cory Johnson and Jon Erlichman on Bloomberg Television’s “Bloomberg West.”
Direct link to full video here.