Tim Cook teased future Apple products at the annual general meeting of the company at Cupertino where he also said that he couldn’t be more “optimistic” about the future of the company and where it is headed today. All this comes on the heels of Apple’s upcoming conference where we are expected to see new iPads, AirPods 2.0 and possibly a new iPod. He said that Apple is just “planting the seeds” in future innovative products that will “blow you away.”
While speaking during the conference, Tim said that the company is on track on doubling its Services revenues in 2020 from nearly $25 billion in 2016. A Goldman Sachs analyst actually warned Apple against this strategy because it relies too much on rivals for its services’ revenue, which includes Google alone paying around $10 billion for remaining the default search provider on iOS devices.
Apple had its first holiday sales decline in 2018 as the demand for new iPhone models continues to decrease year by year. Users on average upgrade their iPhones after 4-years than 3 years previously, which has to led to declining sales along with other factors. Investors are waiting for a groundbreaking product that will possibly turn the tide in Apple’s favor.
While Tim didn’t give a lot of insights on what future products Apple is working on but we know from rumors that Apple is working on its own electric car as well as Augmented Reality glasses. It’s questionable which of these two products could become game-changers for Apple but the investors certainly believe in what Tim is doing, as Apple’s stock went 1% up in the aftermarket hours after the conference ended.
Source: Bloomberg
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