“Apple is in a funk. Whether it’s short-term or the new normal is anyone’s guess,” Verne Kopytoff writes for Fortune.

“Wall Street, in its typical what-have-you-done-for-me-lately attitude, is worried. Never mind that Apple had $10.5 billion in profits in the most recent quarter and $50.6 billion in sales,” Kopytoff writes. “Most any CEO would be giddy to report similarly ‘worrisome’ results. But growth, which Apple lacks because of falling demand for iPhones and iPads, is what investors crave.”

“Late on Thursday, Apple did manage to pull off a surprise. Although it wasn’t some splashy new gadget, it did announce that it had invested $1 billion in Chinese ride-sharing service Didi Chuxing. Why would Apple plow money into an Uber rival?,” Kopytoff writes. “Maybe Apple wants to lock in a buyer of its would-be iCar. Or maybe it really is chasing innovation, no matter what it is.”

Read more in the full article here.

MacDailyNews Take:

Those who underestimate Tim Cook are in for a rude awakening.MacDailyNews, April 9, 2014

SEE ALSO:
Things to know about China’s Didi, Apple’s latest $1 billion investment – May 13, 2016
Apple invests $1 billion in Chinese ride-hailing service Didi Chuxing – May 12, 2016