Vindu Goel, The New York Times:
At 41 years old, Apple is a respected elder of the tech industry. But rather than easing slowly into retirement, the company is going through another growth spurt.
On Wednesday, Apple’s stock surged 5 percent to a record high of $157.14 after it reported surprisingly strong financial results. It is now worth $822 billion, more than any other company in the stock market.
High praise from the New York Times. Interesting.
But:
For Apple, which is far more dependent on hardware sales than other tech leaders, the recent performance is all the more impressive after its dismal 2016, when quarterly revenue fell for the first time in 13 years and the company’s sales in China dropped through the floor.
There it is. That’s the paper I know and love.
And:
“Wall Street is waking up to the reality that the next great product might not be an Apple car or the TV or the Watch,” said Trip Miller of Gullane Capital Partners, which loaded up on Apple shares when they were below $100. “The services business is the next great product.”
See Jared White’s take on Services. At least the NYT recognized that positive.
Moving on:
“Any product they release this year would be successful. There is pent-up replacement demand,” said Amit Daryanani, a hardware analyst with RBC Capital Markets.
A dismal 2016, and it doesn’t matter what they release, it’s all the pent-up replacement demand, not at all a sign of innovation.
Oh, and two last parting shots:
But he said such growth is unlikely to continue in 2019, when excitement about the new iPhones has faded.
And:
The risk is that customers decide to move on from the decade-old iPhone.
Doomed.
A Macaloop article 😉
According to all “analysts” they always have said Apple is doomed, and waster is wet! Looks like he is trying to dry AAPL lower to buy them up!
So many problems with that article.
Typical NYT crap analysis. Looks like the NYT is in the business of clairvoyance rather than journalism.
“The risk is that customers decide to move on from the decade-old iPhone.”
is such as stupid statement that the writer should never be taken serious again. Move on to what? There’s nothing in the near term that will supersede the smartphone. 15 years from now? Who knows what we’ll have then. But in the next 5? We’ll have a better smartphone.
Does anyone really expect any better from the failing New York Times?
“after its dismal 2016, when quarterly revenue fell for the first time in 13 years”
such BS. yes revenue fell, but it was still massive and titan-sized earnings for Apple. revenue their paper would kill for. gimme a break, trolls…
NYT has always preferred a good narrative to a bunch of facts with no grabber.
Well done, sir.
“There it is. That’s the paper I know and love.”
Thank you for that, Dave.
And Amit Daryanani is my analyst-call fave for best “we don’t comment” comeback. He got the laugh.
It’s pretty amazing that this remains the narrative for so many outlets.
Yeah, I’m waiting for Breitbart’s take on this whole thing. At least they’ll do their homework.
:/
Jeez. What did Steve and Tim do to piss off the NYT?
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And incredibly disappointing that a paper with the prestige and rep of the NYT publishes this crap. I mean, an editor should have asked what I just did. But no….
An editor set the tone for the entire department within which this piece was assigned and written.
Both tech and finance reporting suffer from the same sorts of institutionalized dogma and groupthink, regardless of the paper. From the excerpts above, I’m guessing they’re echo-chambering each other.
They succeeded.
I usually trust The Onion, America’s finest news source.
That’s probably wise.