Chowdhry: Apple Is 'Not Burberry,' It's Suffering Just Like Microsoft Did Under Steve Ballmer
After Apple's much-anticipated product event on Monday, in which it announced the iPhone SE and a smaller iPad Pro, Global Equities Research’s Trip Chowdhry explained his ideas further.
"Apple is not Burberry," Chowdhry said. "Investors cannot get excited about Apple until they see Tim Cook being replaced by Visionary and Passionate Jon Rubinstein, the father of iPod and iMac; Luca Maestri being replaced by returning CFO Fred Anderson, and Angela Ahrendts being let go," he continued.
Under CEO Tim Cook, Apple is suffering just as Microsoft Corporation (NASDAQ: MSFT) did under Steve Ballmer. "Launch and Forget ... with no reinforcement...great Apple products will have lackluster product adoption," he wrote.
While the latest announcements are "strong" because they allow Apple's aspirational branding to reach a broader base of consumers, Apple -- in Chowdhry's opinion -- must fix its leadership problems.
After trading near $107 per share, Apple stock is back near the $105 area, selling off slightly following the product event. Of note, a fat finger spike pushed shares to $110 briefly in the morning before trading back down to normal levels.
Latest Ratings for AAPL
|Oct 2016||Credit Suisse||Maintains||Outperform|
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