“Steve Wozniak, co-founder of Apple with Steve Jobs, said today that Apple’s share price, which hit a 16-month low two days ago, is ‘disappointing’ but that he was confident the tech giant would come out with products which would ‘“surprise and shock us all,'” Mike Butcher reports for TechCrunch.
Butcher reports, “In a wide-ranging speech at the Login technology conference in Vilnius, Lithuania, Woz – as he is known – said:”
[Apple’s]stock price is a little low right now. Over time I’ve seen Apple go up or down 2x over a few months. It’s very disappointing because if you look at the amount of cash that Apples holds that cash translates to one to two hundred dollars per share of stock just in cash form. So the expectations are a little lower even than they expect.
“But where are the profits of the whole industry though? They are still with Apple and profits are all that really matter in the long run. Apple’s business model tends to be new products, even products that didn’t exist before and doing well out of them and not re-making the same thing, as eventually that just gets a little bit stale. So I would guess that Apple is very well prepared, and working on new things that are going to surprise and shock us all. And I honestly don’t know [what].
Read more in the full article here.