I've always believed that when you're wrong, you should admit it and then move on. I have to admit that I was wrong about the new Apple watch and here's the reason why.
When Apple Inc. (NASDAQ:AAPL) originally announced several months ago it was going to introduce a smart watch, I was pretty excited. It was then that I said to myself "there's so many smart watches on the market, what's going to differentiate their smart watch from a slew of other smart watches?"
In fact, when Tim Cook, the head of Apple, introduced the smart watch several months ago, I found little to get excited about. Up until that time I had been wearing another smart watch from a small startup company named Pebble, that was funded by Kickstarter, the popular crowdfunding website.
At first glance my Pebble watch did everything the Apple watch could do and was less expensive so why should I get an Apple?
So why was I wrong? Continue reading "Okay, I Was Wrong About Apple"
Yesterday, Apple Inc. (NASDAQ:AAPL) finally had its day in the sun and unveiled its new smart watch for the second time. The whole event went off without a hitch and was very Apple-esque in all the different presentations. The only item that caught my eye was the Macbook, which is a new design and is like a work of art thanks in large part to Sir Jony Ive, Apple's chief design guru. While many of the products shown at the event received polite applause, Apple's stock elicited a big yawn, as many of the features had been seen earlier. Another kicker was if you want to get a smart watch, you're going to have to wait for at least another six weeks.
Yesterday, we ran a poll that showed only 14% of the people who responded would consider buying an Apple watch, and that was before prices were announced. My best guess is Apple's going to sell a lot of watches, but not the 14 million they think they are going to sell in the first year.
Looking at how Apple's stock acted to yesterday's presentation by Tim Cook, I would have to say that the market was somewhat underwhelmed.
In today's video, I'm going to be taking the pulse of several different markets and determining what I think is going to happen based on the Trade Triangle technology and some other technical indicators. Continue reading "Apple And Market Fatigue"
Is that a sacrilegious thought? Let me say I'm a huge fan of Apple Inc. (NASDAQ:AAPL) and have been since I wrote my book "Right on the Money" on a Mac some 20 plus years ago. But that was when Steve Jobs was changing the world with his WYSIWYG (what you see is what you get) interface and that silly little mouse that now is an ubiquitous part of our lives.
Times have changed and Steve Jobs is no longer with us, but I'm sure he would be happy to see that his company has overtaken Microsoft as the most valuable corporation in the world to the tune of some $750 billion. We all know that since Steve has passed on, the baton was handed to Tim Cook. Tim Cook is a very talented executive and certainly a master of the supply chain. But does Tim Cook have enough imagination to drive innovation forward in creating new and exciting products?
Under Tim's leadership, Apple stock has certainly moved higher, no question about that, but what has Apple done lately? We will find out on Monday the 9th, when Apple will unveil a new product. Apple is rumored to be launching its new Apple watch and some upgrades to existing products.
Let me say I would like to be wowed by the Apple watch, but there is a little company called Pebble that has sold more smart watches than all the other smart watch makers combined and that company didn't even exist two years ago. Pebble is led by a very bright and focused individual much like Steve Jobs, who has a vision of what wearables can be and can do. His name is Eric Migicovsky and at 28 years old is the founder and CEO of Pebble. I'm sure we will be hearing a lot more about him and his company in the future. Could this be a David and Goliath technology story as mighty Apple may be felled by a Pebble? Continue reading "Is It Time To Short Apple?"