Have Apples best days come and gone?
Organization Name: Apple
Industry: Multinational Technology Company
CEO: Tim Cook
Apple was founded by Steve Jobs, Steve Wozniak, and Ronald Wayne in 1976. They now develop and sell many consumer electronics including the iPhone, the iPad, the Mac computers, the iPod, and the Apple Watch. Being the world’s largest information technology company by revenue and the largest publicly traded, they became the first U.S. company valued over $700 billion.
With 475 retail stores across 17 countries, and total revenues of $233 billion at the end of the 2015 fiscal year, there may be only one way to go…down! Lately, even the Apple faithfuls are ditching the iPhone. Apple has always enjoyed great customer loyalty with 68% of Apple sales coming from iPhone and according to a statista report the iPhone users are a loyal bunch.
In a small survey of 3000 smartphone users, 76% say they would upgrade from their iPhone to a newer model. That’s an incredible 185 higher then Apple’s closest competitor marking them as the smartphone giant!
After all the great Apple successes, why are so many loyal customers ditching their iPhones? This forecast for quarter 1 for 2016 is between $50 and $53 billion. This is the first quarterly drop since 2003.n Bloomberg’s Scarlet Fu talks about these numbers.
Is the market saturated with Apple phones? Units sales are down by 10 million and with the iPhone making up well more then half of Apples total revenue. India Today Television talks about the iPhone’s dip in sales.
So, to answer my question, Have Apple’s best days come and gone? Apple CEO Tim Cook say’s in a CNBC Mad Money interview,”i couldn’t disagree more.” “We’ve got great innovation in the pipeline. New iPhones that will incentivize you and other people that have iPhones today to upgrade to new iPhones.
We are going to give you things you can’t live without that you just don’t know you need today. That has always been the objective of Apple. To do things that really enrich people’s lives. That you look back on and you wonder how did I live without this.”
Jim Cramer from CNBC’s Mad Money talks with Tim Cook on Optimism for the future!
It sounds like there may be some more “best days” coming for Apple!