Market Overview

Do Apple Execs Lack Vision?

Do Apple Execs Lack Vision?

Recode Managing Editor Ed Lee was a guest on CNBC's "Squawk Box" segment Monday to talk about Apple Inc. (NASDAQ: AAPL)'s management team, specifically whether the team lacks a proper vision.

According to Lee, Apple's late CEO Steve Jobs was "all of the place" and "making changes at the last minute on all kinds of things." This type of leadership isn't necessarily a bad thing, but it took a strong leader in Tim Cook, the company's current CEO and operating officer under Jobs to "sort it out."

Lee further stated that Cook is an excellent operator, but there is no "vision guy," and there is a lack of evidence that there is any sort of "game changing" product in Apple's pipeline.

What About The Apple Car? The Apple TV?

One potential new "game changing" product is an Apple car. The problem is, Lee suggested that merely selling a "better car" won't be good enough for Apple. He emphasized that Apple needs to be "something completely much better."

Another new potential "game changing" product is an Apple-branded TV. The problem in this case is that a TV set is more of a "software and content business," and content is expensive. Apple isn't willing to pay the high rates that TV companies charge because "they don't see the value." Meanwhile, a leader in the content business, Netflix, Inc. (NASDAQ: NFLX) is still operating with a negative cash flow and its business model isn't as "disruptive" as many had assumed; its business is in line with what a traditional cable company offers.

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Latest Ratings for AAPL

Dec 2019Initiates Coverage OnBuy
Dec 2019MaintainsOverweight
Nov 2019ReiteratesBuy

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