“How do you value a company that just seems to ‘get it’? That’s my dilemma with Apple. On Tuesday, the Mac maker teamed up with Nike to introduce the Nike+iPod Sport Kit. It’s got a tiny electronic sensor, designed to slip into a Nike running shoe, that wirelessly transmits fitness information to a receiver plugged into an iPod nano,” Tim Beyers writes for The Motley Fool. “Nike has four million iPod-ready shoes available now, and according to BusinessWeek, that total could soon grow to 10 million. That’s an immediately addressable market of up to $290 million on kits alone for Apple.”
“But of course, that’s not where the real opportunity lies. Jobs & Co. need to give consumers excuses to buy more and different versions of the iPod, especially now that there are roughly 50 million of the devices already in consumers’ hands. Creating specialized uses for the iconic music player is one way to do so. In that sense, I believe the “Nike+” program will likely be the first of many similar partnerships,” Beyers writes. “That has me wondering: Is Apple’s stock really expensive? The company excels at marketing. It earns the highest customer-service marks in the computer industry. Its products are almost always technically astute. And its business model is so good that competitors are copying it. Just how successful does Apple have to be before we agree that it’s cheap?”
Full article here.
[Thanks to MacDailyNews Reader “vitaboy” for the heads up.]
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