Analysts who somehow weren’t brainwashed by Phil Schiller’s painful ‘courage’ speech at the iPhone 7 launch event have delivered a scathing assessment of present-day Apple.
A note from Oppenheimer’s senior analyst Andrew Uerkwitz, which was picked up by Business Insider, pulls no punches, questioning the company’s ahem, courage, and accusing it of being over-reliant on the iPhone.
“We believe Apple lacks the courage to lead the next generation of innovation (AI, cloud-based services, messaging); instead will become more reliant than ever on the iPhone,” it reads. “We believe Apple is about to embark on a decade-long malaise. The risks to the company have never been greater.”
However, Oppenheimer expects iPhone sales to peak in 2018, adding, “We believe its strong profitability, a cash hoard for protection, and one last 'growth' hurrah from the tenth-anniversary phone will keep investors interested in the company. Our Perform rating is unchanged for now.”
Doom-and-gloom predictions for Apple are, of course, nothing new, but despite still raking in the money, the company does appear to be stuck in a bit of a rut, making bizarre decisions, struggling to come up with something that’s both new and useful, and recently recording its first decline in revenue since 2001.
Microsoft outshone its trendy rival with its latest Windows 10 event, and the iPhone 7 hasn’t impressed a great deal of people in the industry. That said, consumers are still going mad for it. [Business Insider]