Chokshi: Apple Doesn't Have Anything Innovative In Near-Term

Apple Inc.

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.