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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