by Brent Dirks
April 19, 2013
Even though Apple’s stock has dipped below the $400 mark for the first time since late 2011, co-founder Steve Wozniak is still high on his former company. According to TechCrunch, during a technology conference in Lithuania, Wozniak said he is very confident that Apple should soon introduce products that will “surprise and shock us all.” First off, Wozniak was quoted discussing the drop in Apple’s share price. After peaking at more than $700 in September, the stock is off more than 40 percent:
“[Apple's]stock price is a little low right now. Over time I’ve seen Apple go up or down 2x over a few months. It’s very disappointing because if you look at the amount of cash that Apples holds that cash translates to one to two hundred dollars per share of stock just in cash form. So the expectations are a little lower even than they expect. “But where are the profits of the whole industry though? They are still with Apple and profits are all that really matter in the long run. Apple’s business model tends to be new products, even products that didn’t exist before and doing well out of them and not re-making the same thing, as eventually that just gets a little bit stale. So I would guess that Apple is very well prepared, and working on new things that are going to surprise and shock us all. And I honestly don’t know [what].”While Wozniak admitted he doesn’t have any inside information about future products, he does have a unique wish:
Woz is also hoping for a robot which could “clean my car at night in the garage” – although he didn’t imply Apple might be building such a thing.Sorry, Woz. I think an iWatch would be a little more useful.