“Ten years ago, Steve Jobs introduced a touchscreen minicomputer that wrapped in a digital music player, email, maps and web browsing,” Ari Levy writes for CNBC. “To say that Apple’s iconic co-founder, who died in 2011, ushered in a new era of innovation would be the understatement of the device’s dominant decade.”
“Apple has sold some $650 billion worth of iPhones, with well over half snapped up in the past three years. In fiscal 2016, iPhones generated revenue of $136.7 billion, making that single product bigger than all but 35 companies — in the world,” Levy writes. “‘It’s hard to think of a product that’s more important,’ said Kevin Landis, chief investment officer of Silicon Valley investment firm Firsthand Capital Management, which owns Apple shares among its $300 million in assets under management. The iPhone represents ‘just an amazing fundamental shift that only happens a couple times in a lifetime,'” he said.”
“The 10-year anniversary of the iPhone arrives at a time of dramatic change for the Cupertino, California-based company. IPhone sales are coming off their first year of decline, and analysts are projecting meager growth from here,” Levy writes. “‘The next iPhone is a chance for Apple to regain some of the excitement that the company had in the past,’ said Walter Price, an Apple investor and managing director at Allianz Global Investors in San Francisco. ‘”I hate to say it’s the last chance, but it could be a really important turning point for the company. If they do not execute on the opportunity, then they may just be relegated to a slow growth, annuity type company.'”
Read more in the full article here.
MacDailyNews Take: The shortsightedness is appalling.
The next [Fill in the blank with “Mac” or “iPod”] is a chance for Apple to regain some of the excitement that the company had in the past. I hate to say it’s the last chance, but it could be a really important turning point for the company. If they do not execute on the opportunity, then they may just be relegated to a slow growth, annuity type company.
[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]