“A Christmas rally in Apple’s share price made it the world’s third most valuable new technology company, behind Microsoft and Google, sealing one of the most dramatic corporate turnarounds ever achieved,” Richard Waters reports for The Financial Times.
“The stock price surge has taken the maker of iPods and Macs past industry stalwarts such as IBM and Intel and was capped this week as Apple topped even Cisco, the networking equipment maker. With a market capitalisation of $177bn, up more than $100bn from a year ago, Apple is one of Wall Street’s stand-out successes,” Waters reports.
MacDailyNews Take: Great start. And then Waters starts quoting Rob Enderle.
Water continues, “‘They themselves have signalled the move away from the iPod to the iPhone – when the market leader moves, the market is shifting,’ said Rob Enderle, an independent technology analyst. ‘Now they’re coming up against phone companies who know this market better than they do.'”
MacDailyNews Take: All the better for the phone companies that are not teamed with Apple to cry as they lose it. If they know their market so well, how did Apple already grab 27% of U.S. smartphone market in third quarter 2007? Note to Rob: That’s from The NPD Group, which actually is a group, not some idiot and his wife who dole out moronic quotes for lazy tech writers. Apple’s iPhone will take more smartphone share this quarter. And the next. And the next. Poor Enderle sounds like Palm CEO Ed Colligan who, while discussing the threat of a then-rumored Apple iPhone back in November 2006, said, “We’ve learned and struggled for a few years here figuring out how to make a decent phone. PC guys are not going to just figure this out. They’re not going to just walk in.” The last we heard from Colligan, two weeks ago, beleaguered Palm axed 10% of its work force. Like Colligan, but much more so in light of the facts, Enderle sounds like a fool. Which makes a lot of sense, since he is a fool.
Water continues, “‘This has been coming for almost a decade now,’ said Michael Gartenberg, an analyst at Jupiter Research. ‘It’s no one thing, it’s a combination of things – investment in design, marketing and innovation.'”
Full article here.