“Eighty per cent of our revenues are from products that didn’t exist 60 days ago.”
Think about that for a moment. It’s quite remarkable, really. Apple has in that time released a new iPhone, two new iPods, a new iPad and a new MacBook Pro.
“I mean, no company would have done what we did this year,” Apple boss Tim Cook told Bloomberg. “We changed the vast majority of our iPhone in a day. We didn’t kind of, you know, change a little bit here or there. iPad, we changed the entire lineup in a day. The most successful product in consumer electronics history, and we change it all in a day and go with an iPad mini and a fourth-generation iPad.
“Who else is doing this? Eighty per cent of our revenues are from products that didn’t exist 60 days ago. Is there any other company that would do that?
None of which changes what really matters – Apple’s numbers. Apple’s market cap fell below $500bn today after suffering the worst one-day decline in almost four years.
At its peak in September Apple’s share price reached $705.07, but after a slide of ten per cent this week it today fell as low as $518.63, although it is still up 30 per cent year-on-year.