Ben Chu: Not such a bad Apple
Outlook It's an urban myth that Apple's logo was inspired by the cyanide-laced piece of fruit that Alan Turing bit into when he committed suicide. But investors have, nevertheless, been reacting to the California technology giant's stock in recent months as if it were just as poisonous. The share price has surrendered 44 per cent since hitting $702 last September. And there was much complaining this week when Apple revealed its first fall in profits for a decade. "The market is tired of the same old thing at Apple," said one analyst.
This seems over the top. Of course investors need to look at future earnings potential, rather than past achievements. But that doesn't make those investors rational in their judgements. There has been a gap of three to six years between Apple's breakthroughs of the past decade. The iPod was launched in 2001. The iPhone was unveiled in 2007. The iPad first appeared in 2010. Don't Tim Cook and his team deserve a bit more time to come up with a new innovation?
There was plainly a bubble in Apple shares last year. Now investors feel duped. And the advisers who hyped the stock need a scapegoat. The supposedly ideas-free management will do. Granted, Apple has made a rod for its own back with its self-important and grandiose product launches. But who bought into that hoopla? Apple hasn't become a bad company simply because investors lost their heads last year.
Diving in at the deep end is no excuse for shirking the style stakes
- 2 PornHub begs users to stop uploading video clips of Brazil getting beaten 7-1
- 3 Why I'm on the brink of burning my Israeli passport
- 4 L'Oreal cuts ties with Belgium supporter Axelle Despiegelaere after hunting trip photographs
- 5 The true Gaza back-story that the Israelis aren’t telling this week
Game of Thrones author George RR Martin says 'f*** you' to fans who fear he will die before finishing Westeros saga
Loom bands: Bids for dress made from colourful rubber pass £170,000 on eBay
Supermoon 2014: When and why will the moon look bigger and brighter this summer?
Gaza-Israel conflict: The terrible price Palestinian children are paying for Israel’s war with Hamas
Rotten egg smell could help battle heart disease and Alzheimer's
Sustained immigration has not harmed Britons' employment, say government advisers
War is war: Why I stand with Israel
7/7 memorial defaced on anniversary of 2005 attacks with ‘Blair lied thousands died’ graffiti
Australia facing international condemnation after turning around Sri Lankans at sea
Even when it brutalises one of its own teenage citizens, America is helpless against Israel
Socialist Worker called to apologise over ‘vile’ article saying Eton schoolboy Horatio Chapple's death is ‘reason to save the polar bears’
iJobs Money & Business
£70000 per annum: Harrington Starr: Information Security Manager (ISO 27001, A...
£75000 - £85000 per annum + ex bens: Deerfoot IT Resources Limited: Biztalk Te...
£60000 per annum: Harrington Starr: Trade Desk Specialist (FIX, Linux, Windows...
£35000 per annum: Harrington Starr: Service Desk Analyst (Windows, Active Dire...