“UBS’s Steve Milunovich was on CNBC’s ‘Fast Money: Halftime Report’ a short while ago being quizzed about Apple (AAPL), regarding which Scott Wapner and the hosts were unanimously unenthused,” Tiernan Ray reports for Barron’s. “Milunovich, who has a Buy rating and a $500 price target, conceded there is little in the way of product this year to boost the perception of innovation, though he would not concede innovation is ‘dead,’ as the hosts put it, recommending investors look to new product categories in 2014.”
Most of what’s coming this fall is really a refresh from current products. In terms of really exiting products, we’re looking out to next year. The next six to twelve months we’ll get some excitement back for the stock as a trade… I think [CEO Tim] Cook is the right guy… They really need to get new product categories. We’ll start to see those in 2014. If you look back historically, there’s been a roughly three- to four-year period between major product announcements. Cook has said there is a lot of innovation coming next year. — UBS analyst Steve Milunovich
Read more in the full article here.
MacDailyNews Take: To be precise:
iPhone was released 5 years, 7 months, and 19 days after iPod.
iPad was released 2 years, 9 months, and 5 days after iPhone.
Tim Cook has been Apple CEO for 1 year, 10 months, 2 days.
Sigh, I guess I can wait.
*unfolds tent outside apple store*
Can anyone define ‘innovation’? Seems to me iOS 7 and OS Mavericks are quite innovative. Hell even Windows 8 is innovative. Or does it have to be good innovation?
People only seem to look at hardware as “innovation.” Apple is proving with Mavericks that a lot can be done with better software.
yes they are “Whoknows” – thanks for mentioning that!
“Innovation” to Wall Street is blowing the doors off of a new product category for Apple. Nothing else comes close.
No.. they never think of innovation… its all about money money..
This whole innovation thing has been getting ramped up since Steve Jobs sadly passed away.
The doubters are ‘gleeing’ (is that a word?) that Apple has failed to launch a new category of product since Steve Jobs’ passing, ergo must be doomed!
The Anal Cysts on Wall Street etc are all joining the same boat, (yeah the sinking one Microshit launched).
What is being forgotten, is that Apple always take their time. They always say no to the ‘almost right’ product until they themselves ‘love’ the product.
Then and only then, do they get the marketing machine in full swing. Then and only then do they hold a special event and show off the ‘new device’. Oh and one more thing . . . it ships from TODAY!
Look at the new Mac Pro. Stunning. Simply stunning.
Just wait for the launches either late this year or first quarter 2014. Apple will blow the socks of these doubters and Anal Cysts.
The latest Ad campaign reiterates the DNA at Apple. They’re emotive, caring and touching. Their message is greater than the words spoken within them.
Steve Jobs was and IS the DNA at Apple. He sadly may be gone from us, but his legacy lives on at Apple, and will continue to do so.
Doubters and Anal Cysts? Just go back to being hum-drum nobodies. The Mac Pro is just the start. . .
And one of those innovative products will be the big screen iPhone Plus, a phablet like no other. Soon the likes of Samsung will have nowhere to hide once Apple takes the high end large phone segment, the same way the iPad mini dashed the hopes of 7 inch tablet makers who thought they’d get to squeeze Apple out from the bottom.
Yes, line up with your scorn. Tell us how there will never be a big screen iPhone. We will add your names to the same list of folks who told us the iPad mini would remain a myth.
Actually I think you’re right.
I think they will (finally) follow their iPod playbook now that the process of moving away from Samsung parts as much as possible is near complete.
I think we get a lower cost, multi-color iPhone (like the iPod Mini/Nano) with a 3.5″ screen 8GB about $250 full price (before any subsidy)
I think we get a iPhone (like the iPod) with a 4″ screen 16-32GB sizes starting at $400 ($500 and $600) full price
I think we get a iPhone Pro (like iPod Touch) with a 4.7″ screenin sizes 32-128GB starting at $699 ($799 $899) full price
Clearly we are getting a cheaper iPhone in September. Probably the same size as the 5S. A larger iPhone, probably 4.7 inches, should be here by spring of 2014. I’m with you as far as a family of iPhones for the consumer. It’s coming. And I’m holding onto my 4S until the larger iPhone arrives. The 5/5S just isn’t big enough for me. And no, I’m not talking about a huge iPhone either. 4.7 or 4.8 inches sounds about right. Just like the iPad Mini, it’s coming despite the few people who don’t accept that idea. Guys with small hands I guess?
I think it would be more likely for Apple to add phone hardware to the iPad mini than to come out with an entirely new device. Looking at the statistics, phones about 5″ and up just don’t sell well.
By adding phone capabilities to the iPad mini, Apple could promote it as the first tablet you can make calls from. Also, it would be interesting if such a tablet could share the phone number of a corresponding iPhone, so that you would only need one account.
Hurray – yes – please retina screen on the iPad mini and include true telephone capability. Essentially, a bigger phone but also an iPad by Apple.
Good idea, my daughter and I was talking about this idea which combines iPad mini with iPhone as in one product. 🙂
So Apple hasn’t “innovated” anything since the iPad a couple years ago. Remind me when Samsung, Nokia, or Microsoft last “innovated” anything…ever. If a larger phone screen is “innovation” then Apple last “innovated about 6 months ago with the iPad mini. At the same time they updated their whole iMac line, and just this month they “innovated” a new Mac Pro. If “innovation” is the introduction of new product categories, as opposed to incremental updates, then Samsung has NEVER “innovated” anything. For Nokia and Microsoft it’s been decades. “Can’t innovate, my ass!”
Those who know copy is innovative .
And let’s remember the facts: Apple started working on the iPad first, but discovered it could release iOS on a smartphone sooner than it had tablet technology ready for the masses. That’s why the iPhone was released first.
If Apple (I think it was Scott Forstall) hadn’t come up with the phone idea, we may be talking now about the decade between innovation releases, dating from the iPod to the iPad.
And, funnily enough, Samesung will also have some exciting new product categories about 2 months after Apple. Go figure…
Those who copy and ship junk are the market favorite innovation.
Apple has been working hard in R&D and has always been silent on future products. This continuous assault from those needing “innovation” is so disingenuous as it seems never to be used with Apples competation.
Example: Samsung sells fewer phones, Apple must have problems as well and lowers stocks price. Samsung sells more and Apple is losing ground or soon to be passed by on the road as corpse of days passed. Instead of hammering Samsung for lack of innovation, expectation of the next game changer, or the decline of Samsung as company that should have it’s CEO replaced. This could also be applied to all others competing against Apple. Yet, a sentence, nay a word is used on equal terms.
Perhaps, they have little understanding of the subject they write on; perhaps care very little or only rely on the company’s name to create traffic or increased blog numbers. If the latter, is truly lazy or sad as they typically only hurt the small stock holder with their babble.
It’s all just patter now.
When you don’t have something real to write about, throw Apple and Samsung on the wall and make some stupid claim about how one is failing, the other can’t catch up, supplier problems, market share woes, etc. etc.
Yes you lose the will to live at times, I think the new iMac is innovative personally, certainly compared to the opposition, but clearly they only consider new categories as innovation where Apple is concerned which no other company is judged by and when Apple does introduce one the very same ‘experts’ deride it. I wonder if that is what they truly miss and without Jobs Apple will be an even greater target for ridicule in that regard.
Last night I heard on TV regarding the G4 the comment ‘full marks for innovation, though one doubts the practicality of the innovations’ how the hell can you give full marks for innovations that he himself says are pretty doubtful in usability. We had similar rubbish with PCs over the years, will no one understand that Apple will not produce innovation for innovations sake and to simply pad out the spec sheet, making the item inevitably twice as difficult to use in the process.
I agree on the new iMac, which is perennially underrated by analysts.
Here are the problems for the analysts:
1. They’re booked on a show to talk about the latest happenings.
2. There really isn’t anything to talk about
3. “Innovation” is a magical, segment-busting, once-in-a-lifetime product that Apple is supposed to release every year
4. Apple hasn’t released it’s next unicorn, so therefore we must bash Apple for failing to provide us with talking points
I hope Apple hurries. I’m down to my last few drops of Unicorn Tears.
Suggesting Apple should wait on its butt waiting for Samsung’s innovation and copying which is faster and easier than doing its own R&D. Oh la la that is good strategy….lol 🙂
From airplanes, electricity, internet, fast trains, light bulbs , the list goes on and on, did you guys see anything that the Easterners innovated any of those?. go figure.
Yeah you’re right. We’re much smarter and innovative out here in beautiful sunny California! Thanks.
This analyst is talking about Apple the way analysts often talk about RIM and Microsoft….”just wait until….”
Very disconcerting.
Tim Cook has been Apple CEO for 1 year, 10 months, 2 days
too long. He needs to gather up that chartreus queer bag and move on, but after apologizing. Think of anything, but apologize, it is the only thing that dickhead is good at.
And staying locked in your closet is the only thing you’re good at.
I think you’re going to be eating your words when iOS 7 is released. I think people are focusing just on the redesign and missing all of the improvements under the hood which will make iOS 7 dust Android even more.
I think analysts don’t understand what innovation is. What they know and understand is how to innovate their pockets to store more grease money!!!
First of all, Apple is not about fast money! So this analyst can go on this show called ” fast money” all he wants!
Analysts couldn’t recognize innovation if it hit them in the face. Didn’t they say that the iPad was nothing more than a big iPod/iPhone, negating the real innovation (revolution) it brought. Of course, now they can see it, 2 years after the fact but I think they’re just not able to see it coming even when Apple slaps it in their clueless faces on a giant screen. Maybe, in two years, they’ll start complaining that Apple hasn’t released any new innovation since IOS7 or since IOS in cars, or since the Apple TV ecosystem.
I wish they would all just go away and stop leading the blind in dark alleys.
They did nothing but complain about Apple on fast money too… Apparently there was no one AT&T WWDC that was excited about anything. I heard and saw nothing but innovation for 2 hours during the keynote. Are these people blind or stupid?