Steve Wozniak, co-founder of Apple, commented on the company's sinking stock price and says he believes the company is working on things that will 'surprise and shock us all', reports TechCrunch.
Speaking at the Login Technology Conference in Vilnius, Lithuania, Woz said:
"[Apple's]stock price is a little low right now. Over time I’ve seen Apple go up or down 2x over a few months. It’s very disappointing because if you look at the amount of cash that Apples holds that cash translates to one to two hundred dollars per share of stock just in cash form. So the expectations are a little lower even than they expect."
"But where are the profits of the whole industry though? They are still with Apple and profits are all that really matter in the long run. Apple’s business model tends to be new products, even products that didn’t exist before and doing well out of them and not re-making the same thing, as eventually that just gets a little bit stale. So I would guess that Apple is very well prepared, and working on new things that are going to surprise and shock us all. And I honestly don’t know [what]."
Woz also noted that he doesn't ask insiders what is ahead.
"I gave up trying to guess [what Apple would do next] a long time ago. There can be rumors which are false, or something gets cancelled. I never ask key insiders at Apple what they are about to come out with."
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Speaking at the Login Technology Conference in Vilnius, Lithuania, Woz said:
"[Apple's]stock price is a little low right now. Over time I’ve seen Apple go up or down 2x over a few months. It’s very disappointing because if you look at the amount of cash that Apples holds that cash translates to one to two hundred dollars per share of stock just in cash form. So the expectations are a little lower even than they expect."
"But where are the profits of the whole industry though? They are still with Apple and profits are all that really matter in the long run. Apple’s business model tends to be new products, even products that didn’t exist before and doing well out of them and not re-making the same thing, as eventually that just gets a little bit stale. So I would guess that Apple is very well prepared, and working on new things that are going to surprise and shock us all. And I honestly don’t know [what]."
Woz also noted that he doesn't ask insiders what is ahead.
"I gave up trying to guess [what Apple would do next] a long time ago. There can be rumors which are false, or something gets cancelled. I never ask key insiders at Apple what they are about to come out with."
Read More