Apple reported the first sales decline in 13 years. But the Apple bulls are out in force. I say, “The bad news for Apple is just starting.”
I have pointed out for two years that under the current CEO, there is a total lack of innovation. Apple’s only significant change is size: larger, smaller. The company doesn’t listen to its customers. Perhaps the next “innovation” will be a different shape, perhaps round, or a pentagonal.
Now, the bullish analysts tell us about the wonderful things that will happen in 2017 with the iPhone 7: a curved screen, an OLED screen, a better camera, and a better battery.
That’s great, except that these are all things that the competition already had for several years. In other words, Apple is now a copycat.
The much acclaimed “ecosystem” will now start to crumble. And that marks Apple’s historic downturn. It’s a fact that in a severe bear market, former idols usually get to be despised.
Apple’s biggest hope for iPhone growth was in China. However, iPhone sales in China for the last quarter were actually down, and not the big sales gain they expected.
Out of 48 analysts who cover Apple, 40 still have a “buy” rating. We wouldn’t buy the stock until the “buy” guys go below 10.
On August 5, 2015 I wrote an article for Forbes.com, giving 9 reasons why Apple stock was not a good investment for the long term:
On Dec. 17, 2015, I wrote another article for Forbes.com, where I explained Apple’s stock chart and that technical analysis predicted a bear market for the company.
I have also shared my bearish analysis on APPLE on CNBC, CNBC-ASIA, Newsmax TV, and other media outlets.
Watch some of my interviews discussing Apple’s problems since 2013:
- Apple Is Like Sony 20 Years Ago:
April 23, 2013
- This Is How Bad It Could Get for Apple Stock:
January 28, 2014
- Apple Prime For The Picking:
Mar 21, 2014
- Apple Becoming A One-Trick Pony:
November 14, 2014
- Skeptical Of Hype Surrounding Apple:
Mar 23, 2015