STEVE JOBS once visited an apple orchard while on a fruitarian diet, and it gave him the idea for the name of the company that he, Steve Wozniak and Ronald Wayne went on to found. Jobs thought the name would make the company seem quirky, approachable and fun. Its popular, highly profitable products have helped make it the world’s most valuable company for nearly five years. However, questions are growing about its shelf life.
On January 26th Apple announced profits for its most recent quarter of $18.4 billion, more than any listed firm worldwide has yet made in a three-month period. However, the good news was overshadowed by Apple’s warning of a sharp fall in revenues in the current quarter. In the past six months its shares have fallen by over 20%, more than double the decline in the S&P 500 index, on fears that sales of the iPhone, which provides most of the firm’s revenues and profits, have peaked. Is it only a matter of time before Apple (worth around $550 billion) is overtaken by Alphabet, Google’s parent ($500 billion)?
In its rise to greatness, Apple has repeatedly shrugged off bouts of panic among...Continue reading
Source: Business and finance http://ift.tt/1nqssuK
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