Apple Co-Founder Steve Wozniak is well aware of the current performance of his company’s stock and believes that its not up to scratch. Therefore, when Wozniak got a chance to speak at the Login technology conference that was held in Vilnius, Lithuania, he said that the current price of Apple’s stock is perhaps “disappointing”, but he is confident that when the iOS device maker will roll out new products they would “surprise and shock us all” and the price of company’s share will ultimately jump up again. Since last September, Apple’s stock price have dropped like a stone. After breaking the barrier of $700 in 2012, the share price of the company has now gone below the $400 mark a few days ago. This was the lowest price that Cupertino-based company has witnessed during a trading session since the December of 2011.
The real worrying thing was that Apple’s stock has been tumbling down in spite of remarkable profits in the last quarter. In addition, the California-based tech giant also maintains a decent amount of funds in the form of hard cash. In spite of this the stock price of Apple has failed to bounce back. As a result of that investors are not satisfied with the performance of Apple’s stock. While addressing the audience at Login technology conference, Wozniak has also mentioned this point and said that the cash which his company holds at this point in time translates into one to two hundred dollars for each share.
Wozniak also said that the profits of the entire industry are with his company and “profits are all that really matter in the long run”. He added that Apple is fully geared up and working on the new products that will “surprise and shock us all”.
Here is what Wozniak has exactly said at the conference:
“[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 […]
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].”
Wozniak also talked about his time with Steve Jobs, when together they use to hack the hardware projects for their friends. He said, “The iPhone 5 is one of the hottest products today. Back then, the HP35 hand-held calculator was the iPhone 5 of its day.”
Source: iPhoneinCanada
Photo: DailyNewsCrunch
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