“In an interview, Apple Chief Executive Tim Cook… said fewer than 15% of older iPhone owners upgraded to the iPhone 6 and 6 Plus and that the majority of switchers to iPhone came from smartphones running Google Inc.’s Android operating system,” Daisuke Wakabayashi reports for The Wall Street Journal. “‘We certainly believe there are legs to it,’ said Mr. Cook of the iPhone sales surge.”
“Timothy Acuri, an analyst with Cowen & Co., said the new iPhones may have a ‘longer tail than prior product cycles’ because they can continue to grab market share from rivals,” Wakabayashi reports. “It would be unprecedented for a company of Apple’s size—already the world’s most valuable company with annual revenue of $183 billion—to sustain the growth it achieved last quarter.”
Oh, what’s that, iCal?
At some point, what’s known as the law of large numbers is going to kick in (it always does). That’s why I couldn’t pull the trigger on Apple as my Stocks 2006 recommendation. – Alyce Lomax, The Motley Fool, January 26, 2006
On January 26, 2006, Apple closed at $9.79 (split adjusted). Nine dollars and seventy-nine cents.
Moral of the story: Don’t listen to unimaginative fools. This one goes to eleven.
“Apple said it expects revenue in the current quarter to grow between 14% and 20% compared with the same quarter last year, but it noted that its forecast is dampened by the strength of the U.S. dollar,” Wakabayashi reports. “Longer term, analysts appear uncertain about whether Apple’s growth is sustainable.”
Read more in the full article here.
MacDailyNews Take: “Analysts appear uncertain?” Ya don’t say?