Apple shares hit just over $700 after the launch of the iPhone 5 and then started spiralling down ever since. If you have been keeping up with Apple’s recent stock price then you have probably been disappointed. Apple shares dipped below $400 recently, which represents a 16-month all time low for the fruit company.
Does this mean Apple is doomed and it is all the fault of Apple’s new CEO Tim Cook?
Absolutely not. Despite Apple’s low stock price, the profits of the whole industry are with Apple and that is really all that matters in the long run. Steve Wozniak (Woz) spoke at the Login Technology conference in Vilnius, Lithuania recently and talked about Apple’s current situation.
“[Apple’s] stock price is a little low right now. Over time I’ve seen Apple go up or down 2x over a few months. It’s very disappointing because if you look at the amount of cash that Apples holds that cash translates to one to two hundred dollars per share of stock just in cash form. So the expectations are a little lower even than they expect.”
“But where are the profits of the whole industry though? They are still with Apple and profits are all that really matter in the long run.” he added. “Apple’s business model tends to be new products, even products that didn’t exist before and doing well out of them and not re-making the same thing, as eventually that just gets a little bit stale. So I would guess that Apple is very well prepared, and working on new things that are going to surprise and shock us all. And I honestly don’t know [what].”
As for just what Apple is working on that will surprise and shock us all, Woz admits he doesn’t know.
“I gave up trying to guess [what Apple would do next] a long time ago. There can be rumors which are false, or something gets cancelled. I never ask key insiders at Apple what they are about to come out with.”
Apple has been rumored to be looking into developing an iWatch of sorts and even a television, so it is likely one of these products is what Woz is hinting at. What do you think? What will Apple’s next revolutionary product be?