Drudge Retort: The Other Side of the News
Thursday, November 28, 2019

Apple has had an incredible decade. Since the iPhone debuted in 2007, the company's sales have jumped tenfold. The stock has soared over 700%.

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And up until last November, it was the world's largest publicly traded company.

But two weeks ago, Apple issued a rare warning that shocked investors.

For the first time since 2002, the company slashed its earnings forecast. The stock plunged 10% for its worst day in six years.

This capped off a horrible few months in which Apple stock crashed about 35% from its November peak.

That erased $446 billion in shareholder value"the biggest wipeout of wealth in a single stock ever.

And it's only the beginning ...

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Apple was Steve Jobs and Steve Jobs was Apple.

It's time to let it go.

#1 | Posted by J_Tremain at 2019-11-28 11:06 PM | Reply | Newsworthy 2

#1.

There's a lot of truth in that.

#2 | Posted by lfthndthrds at 2019-11-29 09:22 AM | Reply

I didn't realize cell phones were that relatively rare in 2005.

I always thought Apple's rise was because it generated a better product than what people had (ie better than Motorola Razors).

Looks like their rise was because they generated a product people wanted that they didn't have (ie a cell phone that can do more).

It was almost inevitable this crash would occur. There's only so many cell phones one cal sell.

In any case I've had an iPhone for years and the one I have now will be my last.

Not because I don't like the phone, but because the upgrade offers me nothing for a much larger price tag.

#3 | Posted by jpw at 2019-11-29 10:53 AM | Reply

JPW

I quit on Apple phones last year mostly because the last two I had were duds.

#4 | Posted by lfthndthrds at 2019-11-29 12:34 PM | Reply

We're an all Apple house. Our first home computer was a 'Fat Mac' (512K Mac) we bought in June 1985. Currently I'm using a MacBook Pro and my wife just got a new MacBook Air. She has an iPhone 8, I've still got an older iPhone 6. I also have an iPad Mini and an Apple Watch. We have two Apple TV's, one attached to our big screen in the family room and the other to the TV in my office.

When I was still working (I retired four years ago this coming January), Apple was a long time customer of ours. I made our first sales call there in the early 80's when Apple was still headquartered in some spec buildings in Cupertino. The Apple III had been out for awhile and they had just introduced the Lisa. They loaned us one and we had it in our Santa Clara office for a month or so. Everyone who stopped by was given a chance to play with it, but it was just way too expensive and of course, very different than anything we had ever seen before. But, in 1984 they introduced the first Mac (only 128K) and as they say, the rest is history.

OCU

#5 | Posted by OCUser at 2019-11-29 03:25 PM | Reply

Jony "form over function" Ive left Apple this year. Last week his profile was removed from the leadership page on Apple's web site.

Apple is transitioning from a shiny-object products company to a service company. They had to. The cellular companies tired of losing money on heavily-discounted iPhones in order to gain customers.

iPhone users are holding on to their phones longer and longer, as they tired of buying a new shiny object every year for high Apple prices.

So now we have Apple+ TV, the start if Apple trying to catch up with Netflix's service-oriented business model.

The headline is right, it is the end of Apple as we have known it.


#6 | Posted by LampLighter at 2019-11-29 08:02 PM | Reply

@#5 ... We're an all Apple house. ...

I did a serious look at transitioning to Apple from Windows when the Macmini first came out using the Intel CPU.

I had moved most of my desktop computing to the Macmini but after a year or so, I began to realize, and bump into a lot, the limits imposed by Apple's so-called "walled garden."

So now my desktop computer usage is back to Windows, with a transition of a lot of functionality to linux (in the form of Linux Mint which, btw, I am using to enter this comment).

#7 | Posted by LampLighter at 2019-11-29 08:23 PM | Reply

Linux Mint which, btw, I am using to enter this comment

Good for you... I'm using the same, full time. No Windows at all.

There are a few Windows games and a few Windows software I can't do without... I run them on Mint with WINE.... no problem.

Every year or so, I am torn between using Mint or Ubuntu... I usually switch to a new version of Ubuntu but more often than not, end up switching back to Mint.

#8 | Posted by J_Tremain at 2019-11-30 01:44 AM | Reply

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