Apple’s share price may be falling quickly at the moment, but company co-founder Steve Wozniak is confident it’ll rise again thanks to future products that will “surprise and shock us all.” Speaking at the Login technology conference in Vilnius, Lithuania, Woz said “the stock price is a little low right now,” but notes that industry profits “are still with Apple.”
“Over time I’ve seen Apple go up or down 2x over a few months,” Woz said. “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.
“But where are the profits of the whole industry though? They are still with Apple and profits are all that really matter in the long run,” Woz added. “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.”
Woz admitted, however, that he had no idea what those things may be.
“I gave up trying to guess [what Apple would do next] a long time ago,” he said. “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.”
Woz also gave his thoughts on the future of technology during his speech. He envisions a time when computers are so powerful that they’ll deliver us “to a place of perfect happiness,” and they’ll “save us from a lot of thinking.” He also hopes that voice recognition on mobile devices becomes more powerful.