Apple Needs to Change the Narrativehttp://www.fool.com/investing/general/2013/05/23/apple-needs-to-change-the-narrative.aspx Travis Hoium
May 23, 2013
Apple (NASDAQ: AAPL) CEO Tim Cook was on Capitol Hill this week, answering questions about how his company has managed to -- legally -- avoid paying taxes on billions of dollars of profits worldwide. It seems like the company has been making headlines for all the wrong reasons lately, a big shift from the media darling Apple used to be.
The tax debate is important for Apple, especially when you consider that the company has about $100 billion in overseas cash. But the core challenge for investors isn't the tax debate, it's that Apple hasn't introduced new products and is allowing the competition to catch up.
It's been more than 200 days since Apple's last major product announcement. Since then, Apple's stock has dropped like a rock, which generated a lot of headlines, and now the media focus is on Apple tax strategies instead of its products. If investors are going to buy back into the Apple story, the company is going to have to turn this trend around and return the focus to products.
Falling behind in the TV market
My concern is that Apple's long-rumored iTV will be so late to the market that Apple will miss out on a huge opportunity to define the living room and streaming markets before someone else does.
Losing the lead in smartphones