Apple is one of the more talked about companies. Despite the recent fiasco with Apple maps, Apple still enjoys a lot of demand for its innovative products and owes a lot of its success to its former leader. There was a tribute to the late Steve Jobs yesterday as it has been a year since he passed.
The case of Apple Maps being used instead of Google’s maps in the iPhone 5 and the iOS 6 reeks of Steve Jobs. But the quick apology by current CEO Tim Cook may not be reminiscent of the late founder. I still feel that Cook did the right thing to acknowledge the inferiority of Apple maps and keep customers hopeful of the technology being improved. But Jobs was not one who apologized for Apple technology.
Jobs was all out for control and dominance, but this may not always pay off. Embracing rather than stifling competition can be a good strategy and this is precisely what Cook seems to be doing with his desire to make Google Maps and other such apps available in the iPhone. It is tempting to go the Microsoft way, but common sense has to prevail.
As for Apple’s stock price and where it seems to be heading, investors feel that it is in a bubble after looking at its stock chart pattern. This is not necessarily good news for Apple shareholders because the stock price could come crashing down in a hurry. However, the fundamentals and a close look at the historic chart pattern point to a long-term uptrend.