Is Apple Becoming A One-Trick Pony?

Paul La Monica was recently a guest on #PreMarket Prep, a daily trading idea radio show hosted by Joel Elconin and Dennis Dick.

CNNMoney Digital Correspondent Paul La Monica talked about Apple Inc. AAPL on the show.

La Monica suggested that Apple risks becoming a “one-trick pony” with it largely dependent on sales of the iPhone.

“The [Apple] Watch doesn’t move the needle yet, the iPad is now something that is starting to get cannibalized by the bigger phone, [and] you do have the Macs but they are never going to be a business so big to justify the calls for a trillion dollar market value,” La Monica said.

Looking ahead, the company needs a successful iPhone 6S, then iPhone 7 and possibly after that an iPhone 8, according to La Monica, and “at some point they might need a new product.”

Apple recently traded at $128.57, down 0.29 percent.

Listen to the show here: