Once Apple was an innovative company which developed radical products that changed the way people live and work.
That's why the company's revenues and earnings grew by leaps and bounds, beating the most bullish analyst estimates quarter after quarter.
But that was some time ago, when the founder of the company was a serial innovator, competition was almost nonexistent, and market saturation was low.
Today, Apple is still an innovative company. But iy no longer develops radical products. It just churns out different versions of its old blockbuster products as the competition closes in and the market saturation grows high.
That’s why Wall Street doesn’t get as impressed as it used to with the company’s new product releases— and the reason Apple’s stock has been lagging in a strong technology market.
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