Transcript for Has Apple Lost Its Shine?
Imitation is the sincerest form of flattery they say but in business it can be. A deadly weapon for a decade apple computers has dazzled consumers and investors with a host of shiny I things. But with competitors edging in on the market after a couple unforced -- the company has lost a 130 billion in market value since September. Is this a temporary glitch or something more here's ABC's Neal Karlinsky. This is amazing. If there's one thing you can count on when it comes to apple its -- hype about the company's latest iPhone or iPad. And lately hype about the stock price. And Apple Stock surging this morning after the company reported a job dropping 73%. Increase in sales last quarter for much of the year's stock market gurus have been making sure fighter predictions. Apple the stock market sensation that sold for only about seven dollars a decade ago is headed to an astonishing. 1000. Dollars a share. Apple's going to -- out here's the thing about all those analysts. They like to change their mind. Apple shares continue to fall that stocks is now just 2% away from a 20%. Decline. Today Apple's stock gave up almost 4%. Seeking from -- high of 705. Dollars in September. To a five month low today. And dancing around the edges of official -- bearish territory. The growth of the company is spectacular. But it slowed down. The introduction of the iPhone and the iPad are now in the rear view mirror but there are some fundamental changes going on an apple and investor nervousness didn't just start today. So how -- -- company they can do no wrong make such a dramatic turn. It's interesting to watch the challenge of these guys say from marketing standpoint I mean apple used to use long lines in front of their stores as a marketing tools and other mocked by Samsung. So they are facing direct competition. Around -- product that they have innovated like they never have before. Like bad directions from Apple's much maligned apple maps the company has suffered some rare criticism lately. Tim Cook himself had to apologize for map -- the iPad -- -- to headlines about. Many lines at stores and the iPad while still dominate is losing market share to -- surging Samsung. Even Microsoft long ago left in Apple's dust has a new exciting tablet -- the surface nudging for attention. And even starring in mock -- Crushing the iPad. And there are deeper concerns no new products are likely until well into next year and aside from the expectation that apple may he reinvented television. Its products are no longer renovating the -- many -- -- apple is at a point now where -- is reason it's plateaued a little bit they needed re spark that fire of innovation and they've had for so long. And it's a little bit harder betting against apple is tricky while it's true nothing goes up forever the company is just getting started selling in China. It has more cash on hand than many countries entire economies. And it's been written off prematurely before it's time to sell -- time -- -- There's probably an app for that. I'm Neal Karlinsky for Nightline in Seattle.
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