Apple’s Terrible, Horrible, No Good, Very Bad Week

Published on Author Eli Fennell

 

 
Apple’s future seems to be scaring more people this Halloween than Freddy Krueger.  As of now Apple stock is trading just below $600 per share, a mighty fall from grace on a week when they unveiled a new series of products for Mac and iPad (the latter highly anticipated).
I won’t rehash the details of the “shakeup” in Apple executives.  What matters is some big names have been replaced and Tim Cook’s Apple is now his own.  Whether that’s a good thing remains to be seen.  It will be hard to remake a company so thoroughly molded in the image of a charismatic and authoritarian leader.

More interesting than the shakeup, I think, is the impact of the iPad Mini.  Despite selling out in preorders, the reviews have been less enthusiastic than usual for a new Apple product.

Comparisons with the more affordable, portable, and arguably more advanced Kindle Fire HD and Nexus 7 tablets have drowned out much of the hurrah, combined with the debut of the Microsoft Surface tablet.

I gave my initial thoughts on the iPad Mini one week ago.  Compared with other recent Apple products it was an expensive letdown, a recycled and slightly tweaked iPad 2 in a slightly smaller package at a much higher cost than its more cutting edge competitors.  Worse, this product threatens to cannibalize sales of the 4th generation iPad and iPad 2 and drive down their costs.
Having said all of that, I don’t think it’s a good time to bet against Apple.  It might even be a good time to invest while the cost is this low, which may not last.  Some investors will always panic at the first sign of trouble, but right now Apple is probably not hurting for revenue, and you never know when they might surprise you with something new.
Take it from a nerd who once wrote Apple off: they are persistent, and they have a loyal base to carry them through tough times.  If the iPad Mini is the worst thing coming out of Apple these days, I think they’re still in a fairly strong position.
I love technology and how it changes our lives. There’s something almost spiritual about how new technologies connect and empower us. And it’s really cool, too.

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Eli Fennell

I love technology and how it changes our lives. There's something almost spiritual about how new technologies connect and empower us. And it's really cool, too.