Newsletter Issue #765: Is Apple Gaining Traction on Wall Street?
July 28th, 2014After Apple allegedly missed estimates that ten million copies of the iPhone 5 would be sold over the first weekend it went on sale in 2012 — they only managed five million, which was a record for the industry — Apple’s stock price began to take a battering. Every perceived miss from inflated expectations brought new rounds of criticism that something was amiss in Cupertino, CA.
A lot of the criticism centered on Tim Cook and his alleged inability to focus on developing fabulous new products. Forgetting the trendsetting Mac Pro, first announced at the 2013 WWDC, everything Apple did was iterative. Although it normally took at least several years for Apple to have a breakthrough product, suddenly it had to happen every week.
If Cook failed to deliver on these insane expectations, that was his fault pure and simple and he must pay for this alleged evidence of abject incompetence. A 64-bit ARM-based processor? Smoke and mirrors because it didn’t offer any advantage with low-resource mobile apps, despite evidence to the contrary. Touch ID? Well, Apple’s fingerprint sensor wasn’t exactly perfect, so it should have been tested and fixed before release. And don’t get me started with Apple’s Maps.
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