The Apple name is not what it used to be. The Wall Street Journal reports that hedge fund manager Doug Kass has not been afraid to speak out about Apple and he has been very critical about the current state of things. In one memo, Kass has said that Apple is showing bruising and he is concerned about how Apple and the iPhone 5 are matching up to their competitors.
iPhone 5 shows Apple losing its “mojo”
Apple may have been left holding an empty bag of magic tricks judging by the reactions of the iPhone 5 unveiling. After all, this is the first time that they have launched a product that has failed to deliver the wow factor points our WSJ. The iPhone 5 is no better than any other device on the market such as the HTC One X+, Samsung Galaxy Note 2 and Nokia Lumia 920.
Sales of the iPhone 5 have not met the expectations of analysts; they predicted that Apple would sell 6 million handsets within the first 3 days of the device being released. Some said that this number would be even higher and put this figure at 10 million during the first weekend that the device went on sale.
So it seems that the magic is somewhat missing at Apple since the untimely death of Steve Jobs. They are now releasing devices with prices that continually rise and are no better than those that are currently being sold by competitors. This will eventually affect Apple’s good name points out WSJ, the name they built up when Steve Jobs was around.
Analysts predict that Apple will get strong quarterly results in the short term, thanks to them rolling out the iPhone 5 globally; however over the long term this may not be the case, it may be a case of Apple declining.