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Valuation in a time of AI
Cash flow is a fact, earnings are an opinion and share price is a dream. A company’s total worth is the number of outstanding shares multiplied by their value. This product is called the market capitalization or Market…
Category
Research
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Can a company outlive its founder? Microsoft at 51, Apple at 50 and The Auteur Theory of Business
On April 4, 1975, Bill Gates and Paul Allen founded Microsoft, a software company destined to become a tech behemoth (and key Apple frenemy). Perhaps the most interesting thing about Microsoft and Apple is just how…
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The Biggest Bundle?
How everyone is wrong about AI It was not a product that anyone asked for. Like many innovations, it wasn’t an invention. It was not patented or discovered in a laboratory. It emerged as a result of the convergence of…
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People don’t like wearing things on their faces and don’t trust those who do
Says Neal Stephenson who first coined the term “metaverse” This revelation came soon after Meta canceled the Metaverse. My thought was immediately, will Meta rename itself back to Facebook? We’ll get to that soon, but…
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The Next 50
Make no small plans 50 already? It seems only a blink of an eye since I wrote Apple at 40. Let’s try copy & paste. In Apple’s first 40 50 years it shipped 1,591,092,250 5,126,211,000 computers1. This shipment total is…
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Apple lost more than 20,000 talented staff in 2025
Executive exodus explicated In December, the company lost AI chief John Giannandrea, its top lawyer and a key design executive in a single week. Other recent headlines: “Apple faces unprecedented executive exodus”,…
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The biggest surprise of the MacBook Neo
Remembering the PC market Almost 10 years ago I said “Managing the Mac product line must be one of the most challenging problems at Apple. That may not be obvious given the product’s success.” I pointed out that although…
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The most brilliant move in corporate history?
An allergy to centralized computing Based on Tweets by MilkRoadAI The 3rd? most valuable company on Earth watched as its rivals lit $650 billion on fire and did nothing. The biggest cash bonfire in history, by far,…
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Is Apple Pivoting?
No. After the flurry of new product launches this week, I’ve read a few comments suggesting that this is a new strategy for Apple, or a pivot of sorts. The premise is that the 17e and the MacBook Neo are new low-end…
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Stairway Update
Meet the new low end, same as the old low end, but better. The arrows point out the new 17e price points. They are, of course, a replacement of the 16e but now there are two rather than three. The memory of the base…
