Bloomberg Praises Apple for Being Boring
Many pundits, including Bloomberg’s Leonid Bershidsky, have criticized Tim Cook’s Apple for its reliance on a single product and its lack of innovation, but Bershidsky has had a change of heart. In his latest opinion piece, Bershidsky praises Cook’s steady hand, especially in contrast to the “pie-in-the-sky ideas” pushed by competitors, like cashierless stores and privacy-invading dating apps.
This is a time when companies whose innovations are more intrusive than useful, more gimmicky than problem-solving, operate with business models that either burn investors’ cash or turn the users into products.
At a time like this, Apple is a rock of common sense, sobriety, dignified engineering supremacy, prudent financial and supply chain management, effective marketing, and customer-oriented retailing. It’s a traditional business that does most things well, demands a high price for it, and receives that high price. With Apple, what you see is largely what you get, and when it’s not, the company will not just apologize but offer a fix.
It’s kind of amazing how Bloomberg can never get anything right. Apple is run nothing like a traditional company, and saying it is really exposes how uniformed Bloomberg is.
Warren Buffett turns out to have a quarter of his portfolio in Apple, lending credence to the idea that Apple isn’t a standard tech company.
Cool! Maybe this will help Apple beat Amazon to become the first trillion dollar company.
I just read this, which was maybe affected by Apple’s announcement about its growth in services revenue:
The big music labels are selling big chunks of their Spotify stakes
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