Do You Invest In A Company That Sells A Product That People Wait In Line For Days For Amidst An Awful Economic Environment?
I have written before about Apple bucking the trend of the economic environment and thriving despite weak consumer confidence. Why does this happen? Superior products, superior service and a superior strategy. It is simply quite amazing. This week the next generation iPhone went on sale around the world to lines of people. Huge sales and sold out inventories were the result. Now, if you don’t own Apple (AAPL) stock, you do own a company that is having similar results with their products or services, right?
When retailers are posting awful numbers, Apple continues to deliver. When other huge companies struggle for growth, Apple continues to skyrocket. When some of the most prestigious financial institutions are broke and getting worse, Apple has 20 billion in cash. As people spend more money on gas, they spend more on Apple products.
It is truly amazing how Steve Jobs and Apple continue to push through the continuously higher standards and expectations and raise the bar again and again. Critics warned Apple not to go into the retail space. Apple has the highest sales per square foot of any retailer in the world. Experts said Apple doesn’t know the cell space and they should stick to computers and ipods, they have the most talked about phone in history! Did lines form for days of consumers waiting to purchase the latest Blackberry? I don’t think so.
My question to you, in a time when stocks are getting pummeled and the economy worsens, why are you not investing in this company? What executive are you placing your trust in over Steve Jobs? If you tell me a bank CEO, you should be slapped. Are you worried about valuation? They deserve the premium. Imagine what their numbers would be if the economy were strong!
I’m not here to demonstrate Apple’s success, Jobs and his boys do that for themselves… again, and again, and again. Go with the folks that repeatedly demonstrate success over and over and over. Steve Jobs is that guy. The Apple story isn’t over. Many thought it was over as ipod sales matured and flattened. Well, they were wrong as nobody hardly mentions ipods anymore and the company has more buzz than ever.
More retail stores in more countries, more global adoption of Apple products, more corporate penetration of Apple products… this is the direction of Apple and don’t you think it’s about time to get on board?