Tell me if you’ve heard this one before. Apple releases a new product, gets rave reviews and has lines around the block at their stores, yet the press predicts doom and gloom for the company. Well, we’ve seen this very scenario play out again with the latest introduction of the iPhone 5S and 5C.
Wall Street consistently shows that it has its head in the clouds and is about as far away from Main Street as could be. The example that I love the most is when a company issues an earnings report where things went well and it actually turns a profit, yet their stock gets pounded because the analysts proclaim, “Yes, but they didn’t reached our estimates, so we should worried about their health” (this has happened to Apple many times). Here’s the bottom line that doesn’t require a Wharton School MBA - you make money, you stay in business. You lose money, you go out of business. Apple has made a lot of money as it’s estimated $145 billion (yes, that’s with a “B”) cash on hand shows. I’d say that’s pretty healthy.
Back to the iPhone launch - One headline of the weekend read, “Long lines But How About Sales?”. Hold on here a second. Do you actually think that people are going to stand in line for hours just to look around? How about the speculators that are paying dozens of homeless people to stand in line to purchase multiple phones, or the fights that happen because of line position? Read more on Forbes.
Help support this blog. Any purchases made through our Amazon links help support this website with no cost to you.
You should follow me on Twitter and Facebook for daily news and updates on production and the music business.
Check out my Big Picture blog for discussion on common music, engineering and production tips and tricks.