Apple Inc. (NASDAQ:AAPL) positive sentiments in the market as well as impressive rally that has seen it clock highs of $700 billion in terms of market value is apparently not going well with some people. Trend Macro chief investment officer, Don Luskin, is not all happy about Apple’s market valuation. During an interview on CNBC, Luskin, called Apple a cult that should succumb to competition going forward as more inventions hit the tech space from other companies.
Apple Inc. (NASDAQ:AAPL) is currently the largest company in the world in terms of market valuation that goes to question whether Luskin remarks will add any water going forward. The Cupertino-based company has seen its sentiments and valuation improve over the past year at the back of an impressive run in terms of iPhone sales. The analyst seems to believe that competition in terms of inventions of other unique products could have a huge bearing on the company’s performance in the long-term.
“[…] They always seem to find something to do for none core I have to admit, they always surprises me. But one of these days somebody other than Apple is going to invent something and when that day happens we are going to throw away our Apple’s. We are going to buy something else, and that will be it for Apple Inc. (NASDAQ:AAPL), and it will just be in the graveyard like all the other tech companies that used to rule the world and don’t anymore. I am too tired of calling them the top, but I am also tired of this cult,” said Mr. Luskin.
Luskin seems to be o the opinion that should Apple Inc. (NASDAQ:AAPL) fail in developing another revolutionary product, then it could succumb just like other companies that ruled the tech space in the past. It awaits to be seen if this will ever come to realization considering the huge cash balance the company has at its disposal and its ability to attract some of the best talents that are sure to ensure the company stays on top of its game in terms of innovation.
Competition is a must in the tech space, but Apple Inc. (NASDAQ:AAPL) has proved time over time that it can handle any incoming pressure and end up on top.
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