Criticism of Apple

Marc Faber, Wall Street's
Marc Faber, Wall Street's "Dr. Doom."

 

“Dr. Doom” Marc Faber, Wall Street’s famous pessimist, predicted that Apple might go bankrupt.

On October 15 (local time), Faber, author of the Gloom, Boom, and Doom report, was on CNBC saying, “I’m not interested in Apple’s stocks.” He added, “I’m not saying that the company will go bust, but it could go bust at the end of the day.”

He pointed out, “Compared to other IT companies, Apple is behind the times.” Then he gave an example of Polaroid. 

Faber commented, “The current Apple is similar to Polaroid of the 1970s. Polaroid, like Apple, was established and developed by a great innovator. But after the founder left the company, Polaroid was declared bankrupt eventually.”

He concluded by saying, “Apple’s biggest problem is that its products are not necessities. It’s basically a toy company for grown-ups.”

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