“When Steve Jobs unveiled the iPhone in 2007 he claimed it would take the competition five years to catch up. Apple shares rose slightly from $122. Now as the company prepares to unveil its latest results in 2013, those same shares trade at $398,” Matt Warman writes for The Telegraph. “Over the equivalent period, Microsoft’s shares are basically unchanged; Google has risen from $524 to $800. It’s worth remembering that Apple remains one of the best investments of the last decade.”
“Apple is, in that sense, a victim of its own success; investors wanted it to keep disrupting music and mobile phones, and now to disrupt TV and watches too,” Warman writes. “The realisation that no company can reasonably be expected to revolutionise everything it touches has come as a painful blow to the share price.”
Warman writes, “Writing it off is premature, and denying its existing strength, both as an innovator and cash cow, is simply childish.”
Read more in the full article here.