Last quote by Steven Milunovich
Steven Milunovich quotes
Where I think it's been underwhelming on the hardware side, which of course is where they make their money. The technology is just not there to really get the Watch away from the iPhone yet.
Apple's a very different company today, obviously, than four or five years ago. [Cook's] had to deal with the FBI situation, moving into China and India, shareholders demanding dividends and buybacks – which Jobs didn't have to deal with at the time.
It doesn't look like the features are going to be tremendously different. People are already talking about the iPhone 8 the next year. Our work suggests that people in fact are hanging on to phones longer.
There is some trouble brewing, though, that we believe could affect Apple's growth. First, Japanese carriers are no longer as aggressively using discounts on handsets to lure subscribers from other carriers, which could affect phone sales.
There also seems to be little investor faith in current or potential new products, which we think might prove too bearish. Consequently, we are inclined to take our short-term lumps and maintain the buy rating given a solid franchise.