Relax, Apple doesn't need a 'happiness machine' to thrive
Over the last few months both the press and analysts have been so busy falling over themselves spouting the most dramatic nonsense about Apple's impending demise that the non-techie could be forgiven for actually thinking that the company was about to go under. If you read any Apple news or news about the financial markets in general, you know what I'm talking about. You've read phrases like these in the comments of articles (or worse, the articles themselves) in the last two months:
"AAPL drops 30 percent to $500! Next stop $200!"
"Apple slashes screen orders. Is anyone buying the iPhone?"
"The company doesn't know how to innovate anymore!"
And the worst of all (because this was an actual headline): "If Steve Jobs Were Alive, He Would Fire Tim Cook."
The last example is so monumentally stupid -- and not just due to the fact that someone thinks they actually know what a dead guy would do, but also because it portends that Tim Cook is driving the company into the ground.
But in spite of all the stupidity out there, there is a shining ray of sanity, logic and reason. That comes to us from Dan Pallotta, of Pallotta TeamWorks. The quote below is him explaining to CNBC why he is long on AAPL and, you know, why things are going to be okay for the largest technology company the world has ever seen. I'll let Pallotta's words speak for themselves without comment [but first, a big thanks to MacDaily News who first spotlighted Pallotta's comment].
Short term expectations for Apple are so high that people are hallucinating. They're missing the big picture. They literally expect Apple to come out with, like a "happiness machine" or a time travel machine... Apple doesn't have to disrupt at that level to thrive and Apple doesn't have to innovate every 20 minutes in order to be one of the best investments on the planet.
People are piling on Tim Cook, saying "Oh, he hasn't introduced a new disruptive product, he hasn't innovated."
He hasn't innovated?
This is a guy who, in a year, has taken the company through this horrible process of bereavement and refreshed every single product in the lineup.
And people forget that Steve Jobs didn't innovate every year. He didn't come up with some disruptive product every year. You know, it was four years from the time he retook the reins at Apple until the time that he came up with the iPod. And, when he came up with the iPod, everybody said, "Oh, it's too expensive."
It was six years between the iPod and the iPhone and when he came up with the iPhone, everybody said, "Well, that's not a disruption. It has no physical keyboard, it's gonna flop, and it's too expensive." Then another four years, until he comes up with the iPad and then when everybody sees that, they say "Oh, that's not a disruption, that's just a bigger iPhone."
So, what people don't understand is that Apple takes the time to get things right and that is the disruption. That is the innovation.
[Image by Ged Carroll]
Over the last few months both the press and analysts have been so busy falling over themselves spouting the most dramatic nonsense...
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