Since Tim Cook, Apple is no longer a visionary, innovative, or even responsible company. It's contributed nothing toward education and progress, toward reading great literary texts with close analysis and productive understanding, toward elevating consciousness to greater awareness of the musical art of Bach, Mozart and Duke Ellington. Instead of being a leader, a cultivator of tastes, it's content to be a follower of consumer tastes, competing with every other cloud-streamer for market share in the social media of post-millennial mediocrity. This is the company that is now fathering and peddling an over-priced wireless speaker of little worth and inflated price--the Beats Pill. Go to Ebay and find counterfeit versions of the same speaker. On the Apple site it lists for $200. On Ebay it's going for as little as $10. Didn't Jobs leave a directive? a map? a sketch?
Odyseus' thirst for adventure ultimately places him between two equally dire consequences. Scylla and Charbydis are Homer's avatars of a rock and a hard place, both "final." But with his singular perseverance and cleverness Odysseus alone is able to hear the transporting song of the Sirens ("extreme" femmes fatale) and live to tell about it.
That's Homer's version in "The Odyssey" (800 B.C.). Sadly, Apple's transformation from America's foremost "rock star of innovation" into a retrograde also-ran in the social media sweepstakes fails to rise to the level of epic conflict or of tragic failure. Instead, it interlaces with T. S. Eliot's re-shaping of Homer's tale to fit modern times. Odysseus (and Steve Jobs) is gone, replaced by J. Alfred Prufock, an ineffectual "thinker" whose failures and successes are imagined rather than real, and whose aimless journey through "The Wasteland" is cut short by drowning ("those are pearls that were his eyes"), even before any meeting with threatening and formidable foes.
The end is coming, and it will not be dramatic (like Cisco's decision to "kill" The Flip at the height of its appeal) or loud (like a pair of Beats headphones during the break-in period) but with a whimper (with famous last words, like "AndweI could have bought Fitbit instead of summoning that faux M.D. urban hop-hipper with promises and no return on my pocket change. We may as well have given some to Harman, with its silly idea of fitting our gear not into the masthead of our glorious ship but inside the carbon-burning small cars that pollute and waste the infrastructure. As dumb an idea as selling watches for telling time and for exercising instead of their true purpose: to synch with anything and everything you happen to be wearing! If only potential users had been more patient. . But at least we tried, Steve and I. (didn't we? I mean, the ipod, the iphone, the Air--they're all in our time-capsule (I tried, but the watch was too small)
A month after the "underwhelming" roll-out of the Watch, and we're reading reports that sales are down by 90%. Why couldn't once tone-sensitive Apple "hear" the two imperatives of every "mature," financially-strapped, time-stressed individual whose priorities are not synchronizing his wearable gear so much as staying fit while holding down a job and maintaining a family? Here's what those iPhone owners were saying: 1. Make is practical and simple! 2. Make it good but cheap!
Apple could have, but didn't. iAnd multi-billion dollar desperate lifelines thrown at headphone-wearing hip-hoppers won't fix it. Apple could have worked with Harman to gain control of automotive audio space. They could still buy Fitbit (far too conspicuous and "ignominious" defeat for the company).
Look for a price retreat and a reverse stock split to restore a respectable share price to the company that built the Watch (and sprung a leak while trying to good at streaming).
Thanks. Formerly, I oouldn't begin to understand why the most successful investor in history wasn't attracting flies at such a user-friendly price.
Every time I've checkedon the market cap of the B stock over the past several years, it's been listed at under 500 MILLION (a paltry total, I'll admit). Suddenly my Yahoo finance page is showing the market cap for the B stock at several hundred BILLION. Was Yahoo asleep at the switch, or did Buffett really swing an overnight miracle during the Obama bull market?
. . . because it's too late to sell for no good reason other than a precipitously falling stock price. In a market as high and tight as this one, and with a hi-tech stock that's up 300% on the year, all it takes is the first couple of big sales to trigger the flight to safety by the schools of fish that run from the invisible shark and end up on dry land. If I had reason to be concerned when this puppy (what can I say? I like all animals) was down 3-4% on the day, there is no good reason to sell when the stock has dropped by 9% on the day (it could be in double digits by now). That's the "falling knife paranoia" that has nothing to do with anything but the direction and movement of the stock price itself. I might tighten my stops, but I'm not selling (at least no more than half of my holdings) until given a good enough reason (which excludes Cramer's advice) to jump ship and swim for the beach (just so it's not Normandy).
There appears to be no up to the minute public interest in this small cap, but some insider certainly knows something. The stock is down today way way in excess of the marginal drop in the S&P. Time to bail, hang on, or sell, sell, sell?