Apple Inc. (NASDAQ:AAPL) has been moving away from its core business, but is it good for business? That is the question lingering the minds of many people at Wall Street in the wake of reports the company was pursuing the driverless car technology as well as Virtual reality for its headset. During an interview on Fox Business, MoneyMorning.com, Keith Fitz-Gerald, reiterated that the huge cash balance at Apple’s disposal justifies any venture that the company sees viable and worth pursuing, if it can guarantee further growth.
Apple Inc. (NASDAQ:AAPL)’s recent ambitions have also gone to highlight the difference in the way of thinking between current CEO, Tim Cook, and former CEO and Founder Steve Jobs. Cook has been cooking a number of ideas that he believes will offer the Cupertino-based company more opportunities for growth, unlike Jobs, who remained glued on the company’s core business.
“Apple is sitting on a huge pile of cash and the thing about Jobs is he went after specific devices, and he looked to change the world with each one of them. What Cook is doing is very different, he is creating an ecosphere of all things, Apple Inc. (NASDAQ:AAPL). So virtual reality, Apple has big enough cash on the sidelines couple of a hundred billion to do whatever it wants,” said Mr. Fitz-Gerald.
Profitable Trading .com Senior Strategist, Jared Levy, believes the amount of success that Apple Inc. (NASDAQ:AAPL) has enjoyed since inception comes down to the diversification of its operations. It started as a computer company but soon ventured into the phone markets as well as the iPad and tablet markets that have only gone to expand its product offering.
“I think it is the right thing to do. I think it is a natural progression of what Apple Inc. (NASDAQ:AAPL) is and like he said, wrapping itself around every part of our life, and virtual reality is not that far off from what we have now with our phones. We are linked to them through our headsets watches and pockets,” said Mr. Levy.
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