“Carl Icahn recently announced a long position in Apple (AAPL), which has now unequivocally reclaimed the title of the most valuable publicly traded company on the market,” Ashraf Eassa writes for Seeking Alpha. “Icahn’s announcement, coupled with buzz building ahead of Apple’s upcoming September 10 announcement(s), has caused the shares to rise meaningfully from their 52-week lows, closing a smidge above $500 in the most recent session. It is my view that shares have very little upside potential from current levels.”
“Apple isn’t a bad company (it’s a great one!), and I’m certainly not of the school of thought that the company ‘lacks innovation.’ The company makes solid computing devices, and provides a top notch software ecosystem,” Eassa writes. “Unfortunately, while this holds true, the trajectory of consumer-oriented computing is clear: better, faster, and cheaper.”
Read more in the full article here.
MacDailyNews Take: Eassa seems to assume that there are no new products being explored in new markets by Apple. That’s quite an assumption.
Wearable computing, television and streaming media, services, etc. are all things Tim Cook has long talked or hinted about. Never forget that even after Apple reinvented the portable media player market and reshaped the music business, the naysayers just couldn’t imagine how they’d take on the cellphone market. Then, prior to iPad, they simply couldn’t fathom why Apple wasn’t making netbooks.
As with most things, and certainly with Apple, stuck in-the-box thinking and myopic foresight will get you every time. Ignore the trees, there are huge forests out there.