Story image

Woz: Apple will "surprise and shock us all"

23 Apr 13

Steve Wozniak has remained unconcerned about Apple's plummeting share price, claiming the company will "surprise and shock us all."

With stock hitting a 52-week low last week, the Apple co-founder acknowledged the drop was "disappointing", but stopped short of branding the drop a crisis.

Speaking at Login technology conference in Europe, Woz remained unfazed by recent Wall Street shortcomings.

“[Apple's] stock price is a little low right now," he said.

"Over time I’ve seen Apple go up or down 2x over a few months.

"It’s very disappointing because if you look at the amount of cash that Apples holds that cash translates to one to two hundred dollars per share of stock just in cash form.

"So the expectations are a little lower even than they expect."

In a week where CEO Tim Cook's position has come under serious threat, Woz's comments helps throw water on a potential burning fire within Cupertino ranks.

With a new iPhone on the way, and a 99.1% investor backing, Cook's position hardly seems unstable, with Woz confident the company will come out fighting.

“Where are the profits of the whole industry?," said Woz, in response to Apple's losing stock.

"They are still with Apple and profits are all that really matter in the long run.

"Apple’s business model tends to be new products, even products that didn’t exist before and doing well out of them and not re-making the same thing, as eventually that just gets a little bit stale.

"So I would guess that Apple is very well prepared, and working on new things that are going to surprise and shock us all."

But despite the confidence, Woz insisted he knew nothing of Apple's future plans - even with Microsoft breathing down the company's neck in the small tablet department.

"I honestly don’t know," he claimed.

“I gave up trying to guess [what Apple would do next] a long time ago.

"There can be rumors which are false, or something gets cancelled.

"I never ask key insiders at Apple what they are about to come out with.”

Is Apple on the verge of something big? Is Woz right? Tell us you thoughts below

New app conducts background checks on potential tenants
Landlords and house owners need to obtain a tenant’s full name, date of birth, email address, and mobile number in order to conduct the search. And most importantly, they have to get the tenant’s permission first.
GirlBoss wins 2018 YES Emerging Alumni of the Year Award
The people have spoken – GirlBoss CEO and founder Alexia Hilbertidou has been crowned this year’s Young Enterprise Scheme (YES) Emerging Alumni of the Year.
IDC: Standalone VR headset shipments grow 428.6% in 3Q18
The VR headset market returned to growth in 3Q18 after four consecutive quarters of decline and now makes up 97% of the combined market.
Meet Rentbot, the chatbot that can help with tenancy law
If you find yourself in a tricky situation  - or if you just want to understand your rights as a landlord or tenant, you can now turn to a chatbot for help.
PlayerUnknown’s Battlegrounds (PUBG) finally releases on PS4
PUBG on PS4 feels like it’s still in Early Access as the graphics look horribly outdated and the game runs poorly too. 
How AI can fundamentally change the business landscape
“This is an extremely interesting if not pivotal time to discuss how AI is being deployed and leveraged, both in business and at home.”
CERT NZ highlights rise of unauthorised access incidents
“In one case, the attacker gained access and tracked the business’s emails for at least six months. They gathered extensive knowledge of the business’s billing cycles."
Report finds GCSB in compliance with NZ rights
The Inspector-General has given the GCSB its compliance tick of approval for the fourth year in a row.