Apple (AAPL) is doing a great job at something at WWDC, even if it doesn’t realize it’s doing it.
CEO Tim Cook and other Apple executives took to the stage Monday and unveiled a new video streaming partnership with one-time rival Amazon (AMZN) , as well as cute upgrades to the Apple Watch operating system. Even its new digital speaker was OK. But, the reality is that people should question whether Apple is truly changing our lives. None of what was shared at WWDC was game-changing, arguably.
Make no mistake, the iPhone (and yes, even the Apple Watch) has changed society as we know it. It has essentially put a shopping mall into our pockets. But with Apple now worth more than $800 billion, some questions need to be asked on whether the tech giant is still fundamentally changing games and rewriting rules. And if the answer is no, then why not explore other names in tech?
One of those names that continue to be worthy of attention is Amazon — despite its own heady valuation. It could easily be argued that Amazon is currently changing more games than Apple. From being on the cusp of launching smart grocery stores to expanding cloud services to doing God knows what else, Amazon remains incredibly innovative. Not that Apple isn’t; Amazon is more so.
Now, go charge up your iPhone after reading this one; lots more news coming.
Apple is shown no love to kick off the week: Look at this analyst trying to get his firm’s research in the news. Pacific Securities analyst Andy Hargreaves said that while Apple “anticipates strong performance in the iPhone 8 cycle” it has given “relatively little weight to risks through the cycle or the potential for iPhone sales to decline” in its 2019 fiscal year, TheStreet reports. Talk about trying to time a market disappointment to Apple’s WWDC on Monday.
Big call here: Money manager and long-time contributor to TheStreet Doug Kass is out with a big call on the stock market. Read his latest or risk losing all your money. Thank you in advance.
Step it up, department stores: Yours truly had to drop the hammer on Macy’s (M) and J.C. Penney (JCP) in this new piece. A recent visit to each store perfectly showed why Amazon is killing all department stores.
Remember how far General Motors has come: Tuesday will bring an interesting annual shareholders’ meeting for automaker General Motors (GM) . Activist investor David Einhorn has been agitating for some odd changes, while General Motors of course has resisted them. Bottom line is that GM CEO Mary Barra has done great work at the company — a true change agent. Remember, GM was once a company that signed off on this ridiculous steam-powered Chevy Chevelle. Something like this would never happen under Barr’s watch.
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