We’ve never seen anything like this in our careers: ‘Apple’s greatest idea yet’
Wednesday, November 19, 2008 - 01:12 PM EST "There is an Apple story that I don't want you to miss. It's bigger than the Mac, it's bigger than the iPod, and it's bigger than the iPhone. Steve Jobs briefly mentioned it in the quarterly conference call and it deserves repeating, 'We've never seen anything like this in our careers,'" Jason Schwarz writes for Seeking Alpha."Of course, I'm talking about the App Store. This store is causing a sea change in both the mobile phone industry and the gaming industry that threatens the viability of all competitors. There have already been approximately 250 million apps downloaded among the 6000 applications available," Schwarz writes.
"Apple has brought the Internet to the next level. That level that everyone expected during the tech bubble has arrived. The efficiency of distribution is impossible for the traditional model to compete with. Consumers are eating this thing up. During a quarter in which consumers supposedly quit spending, Apple grew real revenue by 54.5% and grew net income by a staggering 81.2%. That kind of growth is absurd for a company as mature as Apple. That kind of growth is absurd during an economic collapse. But it happened. And it's just beginning," Schwarz writes.
"The competition is too late to the party. The snowball has begun. There will come a time when Apple stock will no longer be bogged down by its sector. I don't know exactly when that day is but it's coming. Investors ask, where can I make money? Apple offers the best answer in the market. During the last 13 months of this bear market Apple has proved itself again and again. It maintains record sales even in the worst of times," Schwarz writes.
Full article - recommended - here.
[Attribution: MacSurfer.]


"There will come a time when Apple stock will no longer be bogged down by its sector."
May we all live long enough to see this come to pass! But as long as Motorola, RIM, Microsoft, Dell, Palm, Gateway, et al., are grouped with Apple in one way or the other, AAPL will have lead in its shoes.