Much criticism has fallen on Apple since the passing of their CEO Steve Jobs, but they are still a major player in the technology industry says Dr. Lian Cheung, Head of Investment Analysis at The Woo Group.
Jul. 16, 2013 - HONG KONG -- After the death of its Chief Executive Officer, Steve Jobs, Apple (AAPL) share value has understandably suffered. Currently Apple’s stock is trading at around $430 a share, well below their 52-week high of over $700. Many critics of the company believe that without Steve Jobs, innovation there will dry up. “It cannot be forgotten however, that Apple is still worth almost $400 billion and last year posted more than $40 billion in earnings, positioning itself as the second most profitable company in the world after Exxon Mobil.” said Dr. Cheung, The Woo Group’s Head of Investment Analysis.
At Apple there is a plethora of opportunities for reinvention and innovation even without Steve Jobs. But innovation cannot follow a predictable time line; there were six years between the release of their breakthrough product, the iPod and the iPhone. Three years passed between the release of the iPhone and iPad which built on many of the advancements and innovations made by its predecessor.
"The problem now of the critics of Apple, is that they are comparing Apple against itself. Everyone expects them to start another revolution, but much time has not passed since the last one. Apple is incredibly tight lipped about future product releases, and I believe that lack of information about a new product does not prove that one does not exist. Apple´s iTunes has issued over 575 million accounts, I am sure that they will continue to monetize It." says Technology Analyst, Anthony Scott.
Over the past decade Apple has been an industry leader and trendsetter, their new Chief Executive Officer, Tim Cook, has improved areas where Steve Job faltered such as relations with Chinese manufactures. In 2014 we fully expect Apple to be a top blue chip performer.
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The Woo Group is privately owned and funded by the Woo family here in Hong Kong; we have no shareholders or investors.
The Woo Group was established in 2002 by the founding fathers Jon and Jason Woo, of the Hong Kong Woo family, whose enormous wealth and expertise in the financial industry ensured immediate success, which The Woo Group continues to enjoy today.
In its infancy The Woo Group employed only 15 members of staff, a number that has now grown to over 800 making The Woo Group the largest, not to mention most prestigious equity research house in Hong Kong.