“Extra! Extra! Read all about it! Apple sets new records. Company is doomed. Again.” Or, something to that effect. Well, here we are 100 years later, deep in the digital age, Apple has new records to boast about and guess who came out of the woodwork to cry ‘doom’ again.
Doom Has Petered Out
Our old friend and Apple critic and Forbes contributor and loose collection of nuts fallen from a nearby oak tree, Peter Cohan, looked at Apple’s financials and cries ‘Doomed’ yet again.
Wait! What? How is that possible. Apple just grew revenue and profits to unheard of numbers in the tech industry, increasing both while increasing almost everything else that matters, so how is it possible to cry ‘doomed?’ Again.
Alright, a little history. Forbes used to be a highly touted and well respected magazine all about money and finance.
It still is. Except the money and finance in question has changed. These days Forbes is little more than Weekly World News for those who don’t know where to look for real news, valuable market or business analysis, but are content with digital drivel.
While the digital ink was still drying on all the accolades and oohs and aahs Apple received after yet another stellar quarter of unbelievable financial results, Cohan was penning (maybe dictating to a secretary or personal assistant; I doubt seriously if he can type– that’s so pedestrian) another ‘doom and gloom’ piece for Forbes. About Apple. Again.
To get all the details on this hit piece Forbes wants you to click to five different pages so you’ll be exposed to more advertising so Forbes will make more money with their upscale version of click bait for the discriminating webpage reader.
In a nutshell, this is Cohan’s argument that Apple is doomed.
- Stock is too expensive
- Smartphone prices are falling
- Margins are declining
- iPad sales are dropping
- Apple Watch overhyped
- Inability to innovate
Haven’t we heard all these before? Yes. From Peter Cohan. Most of the six reasons didn’t apply to Apple a few years ago and the don’t apply to Apple now, but, hey– Cohan has to write something gloomy and doomy because that’s what he gets paid to do. Astute and insightful analysis would be a plus, but that costs money and Forbes is all about making money by publishing what amounts to digital refuse and rubbish. Again.
So, here we go. The Stock is too expensive compared to what? Smartphone prices have been falling for years. Except Apple’s iPhone prices which are on the increase to match the increase in sales growth.
Uh, margins are declining except at Apple, the company that innovates the seldom-seen manufacturing process to help reduce costs, which helps increase margins. OK, iPad sales are dropping, but everyone who’s ever owned an iPad should know why. They freakin’ last forever. Apple hit a homer with the bases loaded on that little sliver of aluminum and glass. Deal with it.
Finally, Apple Watch is overhyped by the hype magazines, not by Apple which hasn’t said much about said Watch except that it’s coming in April.
Inability to innovate? Where’s the detailed list of competitors who are out innovating Apple with new and better products that are sweeping their respective markets by storm? Peter? Peter? Hello? Is this mic on?
Tim Cook does seem able to innovate manufacturing, distribution, and product design to expand markets to ever greater levels of revenue growth and profits. He’s even better at that than Steve Jobs.