Barclays Asia’s Kirk Yang thinks that Apple Inc. (NASDAQ:AAPL) and in general the technology industry does not have enough to have stellar performance in the next year, the executive revealed in a discussion on Bloomberg’s Asia Edge.
This is why he and his firm are actually very bearish on Apple Inc. (NASDAQ:AAPL) and the technology sector in 2015, Yang said.
“Unfortunately we are very bearish in 2015. The reason is that we don’t see any big innovative or revolutionary products for next year. This year, we had a great PC upgrade cycle [and] we had a great iPhone cycle as we saw. Next year, we don’t have anything exciting,” Yang said.
He said that Apple Inc. (NASDAQ:AAPL) will obviously launch the Apple Watch next year, which could be great for the wearables space, but he deems it “not big enough to move the needles”.
Yang added that he will go to the Consumer Electronics Show in a couple of weeks and although he expects a lot of products to be present in the event, he also expects no product to be very exciting.
He also noted that Apple Inc. (NASDAQ:AAPL)’s problem with the iPad is that everybody has one and it will be a real challenge to get people to buy another one.
Yang said that Apple and the technology industry needs the next Steve Jobs who will spearhead the development of industry-changing products. He said that while Tim Cook is doing a good job at Apple, he needs to put out something more groundbreaking than the Apple Watch and bigger iPhones.
Benjamin A. Smith’s Laurion Capital Management reported owning about 1.82 million shares of Apple Inc. (NASDAQ:AAPL) by the end of the third quarter. This stake was added to the institutional investor’s portfolio during the third quarter.