“While 2007 might have seemed like the year of the iPhone, Apple will probably look back on 2008 as the year it became a cell phone company,” Tom Krazit reports for CNET.
“The iPhone began the year as a gadget status symbol in four countries and ended the year as the world’s second-best-selling smartphone, putting Apple in perhaps the best financial shape in the tech industry as the world entered a severe economic downturn,” Krazit reports.
“Late in the year, Apple revealed just how much cash the iPhone was generating for its business, after a blowout quarter… the iPhone 3G outsold Research In Motion’s BlackBerry and all Windows Mobile phones in the third quarter of the year, and application downloads surged as developers threw resources into the platform,” Krazit reports.
Plus, “the Mac continued to make steady gains. Apple’s market share rose each quarter as it continued to gain converts and overhauled its notebook lineup in October,” Krazit reports. And, “even after all these years, few companies are making any progress derailing the iPod train. Apple’s greatest worry with the iPod these days is what to do next, which started to play out late in the year, as the company pitched the iPod Touch as a gaming device.”
“And finally, Apple CEO Steve Jobs survived the year, despite the attempts of various hedge funds and speculators to diagnose him with cancer based on his gaunt appearance at the Worldwide Developers Conference in June. Jobs eventually revealed that he had had surgery for a digestive issue related to his 2005 treatment for pancreatic cancer. Subsequent public events in the year, as well as a rare appearance on an Apple earnings call, dampened speculation regarding his health,” Krazit reports.
Full article here.
And Apple stock lost over 50% of its value!!!
The company is only worth half what it was a year earlier.
Isn’t that missing from the article and MDNs analysis…
Not a cell phone company. Apple is many things to many people. To me it’s a computer company, then a music company.
@Sally G.
Name one company hasn’t lost significant value?
MW: “door” as in Sally G. show yourself the door
@Sally G.,
You do know there’s a global recession happening, don’t you?
Sally G. doesn’t know sh*t from Shinola, so don’t let her polish your shoes.
(P.S. Sally G., have you looked at Dell’s market cap vs. a year ago? Way less than 50%, darling. How about good ol’ MSFT? Also 50% or thereabouts. So what’s your point, dear? Unless you’re investing in some equities the rest of us know nothing about, your portfolio is down about 50% TOO! Geez. As Bugs B. is wont to say, “What a maroon.”)
@Jamie,
“@Sally G.,
You do know there’s a global recession happening, don’t you?”
Yes she does….. That is why she is working from home for Microsoft Trolls bees us.
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Just a thought.
en
Is this working?
Apple makes wonderful technology products.
Apple’s publicly traded shares are attractive to investors with different interests.
With regard to companies whose shares have not suffered significant losses over the difficult year, Walmart shares are up more than 10% from one year ago and McDonalds are up a small percentage.
I’d like to suggest people who enjoy Apple’s products and services and are often frustrated by the disconnect with the price of their publicly traded shares work to understand the different forces which affect the very different markets of consumer products and traded equities – honestly, your blood pressure will fall and you will sleep better.
It is news that Apple has lost over 50% of its value.
It is a fact.
The article ignores it.
None of you boys complaining about Sally G telling the truth about Apple stock dropping like a rock obviously own any Apple Stock.
@Stock owner,
“None of you boys complaining about Sally G telling the truth about Apple stock dropping like a rock obviously own any Apple Stock.”
Can someone please buy this guy a clue?
Now is the time to buy Apple stock, unless it continues to fall, then it would be stupid to buy it. I am happy to give advice anytime!
Advice from Del-Boy: Buy low, sell high!
@Jamie – “Can someone please buy this guy a clue?”
Hmmm….what are you talking about? A clue about what?
You don’t have a clue that Apple stock has dropped from $202.96 to now $94.65??? (That is a drop of over 64%!)
The NASDAQ average is down about 45%.
Or are you going to next tell us you are a stock wizard that you owned a million shares of Apple (bought at $10 a share) and sold it at $202.96?
LOL.
Anyone that is not complaining and concerned about their huge loses with Apple stock does not own any.
And, Jamie, by your wise remarks you don’t own any.
Until the market is properly regulated and speculator and hedge fund activities strongly curbed, holding stock is tantamount to a pure gamble. Nothing more – nothing less. The markets are rigged/influenced/controlled by outside forces. So beware all small investors.
Apple’s growing success and cash pile are the things that gives confidence here.
Randy, Sally, Stock Owner…
couple of terms to terms to add to your knowledge portfolio:
“systematic risk”
“beta”
As a stock owner, I wish Apple stock was still flying high but I also see that the stock price has nothing to do with this article. The stock price does not affect a company that have a huge cash hoard like Apple. They have no reason or apparent plans to raise more money through issuing more shares nor will they be applying for any loans based on there market cap at any time in the near future.
@Randy Deems,
I am a stock holder, a long term stock holder.
If you are in it for the short term, you will lose at the moment.
I am in it for the long haul, and Apple will rise, believe me.
(P.S. I bought some AAPL at $90, then sold half of them for about $200, getting more than my money back and keeping half of the shares. I’m no expert, but I know how to handle my money and my shares. Cheers.)
fwiw… I too am long on aapl, and consider it one of the best investments I’ve made.
confidence in cash period
apple rules!
You stock market idiots have no one to blame but yourselves for Apple’s price fall. You sell at the slightest hint of a pimple on Jobs’ ass. It’s almost as if you want Apple to fail, not taking into consideration the considerable war chest that Apple holds.
Go long if you’re loyal. Obviously, the ones whining are the short sellers. Too bad, so sad. Find another career, morons.