Moving target: Apple's next move is more important than its last
The past weeks have seen an eruption of speculation about iPhone sales. The furor was sparked by reports from the Wall Street Journal and Nikkei citing unnamed sources who said that Apple had cut orders for iPhone 5 screens, possibly by as much as “half.” As a result, Apple detractors have begun their end-zone dancing prematurely (15-yard penalty), while Apple supporters have said, “Seriously with this?”
I’m obviously in the latter camp, but ultimately I think these groups are—to borrow a phrase from Steve Jobs, who borrowed it from Wayne Gretzky, who may have stolen it from a Zamboni driver—arguing over where the puck has been, not where it’s going.
While I’m somewhat interested in how many iPhones Apple sold in its first fiscal quarter and how many it expects to sell in its second, I’m more concerned about something else: what Apple’s next growth engine will be.
Sure, current sales figures matter. But if you’re an investor, you want to know what the company’s going to do, not what it has already done. Which makes deciding whether to invest in Apple something of an act of faith. Do you think that Apple’s current management doesn’t have what it takes to keep innovating?
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