Apple’s biggest problem isn’t that the FBI wants a so-called backdoor to open up San Bernardino shooter Syed Farook’s iPhone.
It’s that the iPhone 7 hasn’t come out yet.
Shares of Apple (AAPL) are down more than 10% this year and 30% below the all-time high it hit last April. The stock started its descent well before last December’s tragic killings.
That means that Apple is in its own personal bear market. The stock has been mauled more viciously than Leonardo DiCaprio was in “The Revenant.”
Apple CEO Tim Cook may be busy battling the FBI over privacy and security issues. That has people wondering how Apple will fare in the court of public opinion. So far, it looks like sentiment is pretty divided.
But who cares?
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If you think Apple should hand over the keys to Farook’s iPhone 5c to the FBI, will you really boycott Apple, as Donald Trump has suggested?
What then? Do you buy an Android phone? With an operating system from Google — whose CEO has publicly supported Cook?
And if you happen to think that Apple should be lauded for protecting its consumer’s privacy, then what do you do?
Are you really going to buy a couple more Macs and iPads to show your support? Download the newest album from Rihanna from iTunes instead of streaming it on Tidal?
Let’s be honest. It doesn’t matter whether you support Apple’s position or not. Or if it wins or loses the case.
What matters is that Apple is very likely to report a decline in iPhone sales this quarter — an unforgivable occurrence for a company that’s allegedly still a growth stock.
Photo: Archive / News Source: CNN