Market Overview

Is Apple Becoming A One-Trick Pony?

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. (NASDAQ: 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:


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