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Apple Inc.
AAPL doesn't have anything innovative near-term and the next big thing at the iPhone maker could still be years off, Maxim Group technology analyst Nehal Chokshi told CNBC.
http://www.cnbc.com/2016/04/26/get-ready-for-a-really-long-wait-for-an-apple-game-changer.html
The bearish comments from the analyst come as the Cupertino, California-based Apple are expected to report lower earnings and sales for the second quarter.
"What I would be pretty excited about, but it's three or four years down the line, is an iCar," Chokshi told CNBC's "Squawk Box."
"If you look at the annuity value of a car relative to a phone and on a per-person basis and the profits that you can be associated, that's very significant," he argued. "That's a needle mover."
Chokshi noted that service business (App Store, Apple Music, Apple Pay, and iCloud) is a bright spot in Apple earnings.
"It's a high-margin business," he said. "The importance of the services is it gives you an indication as to what is the stickiness of the Apple ecosystem. It also gives a way to actually gauging how big is the ecosystem; how much it's actually growing."
Shares of Apple were down 0.53 percent to $104.52.
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