Change your CEO, Tim Cook has operational expertise, but Apple needs a CEO who can ..., say analysts in investor note
'To be clear, Tim Cook was the right CEO at the time of his appointment and unquestionably has done a great job,' the analysts wrote. 'Apple has sold over $2.0 trillion of iPhones with Cook as CEO. In fact, iPhone sales could show signs of life this quarter, as tariff-related pull-forwards help stabilize replacement cycles that may finally be bottoming out.'
Still, LightShed analysts Walt Piecyk and Joe Galone raised concerns about Apple's slow progress in AI, warning that the company could fall behind competitors. They highlighted that the efforts to improve Apple's virtual assistant Siri have not met expectations and that Apple may struggle to deliver a 'supercycle' of device upgrades.
'AI will reshape industries across the global economy, and Apple risks becoming one of its casualties,' the LightShed analysts commented. The analysts argued that Apple's position in the AI race could significantly affect its long-term growth.
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''Missing on AI could fundamentally alter the company's long-term trajectory and ability to grow at all,' they wrote.
They further noted that some believe the company has an insurmountable moat, referring to how it insulates its business from competition. But 'we have seen these moats crumble many times during technological revolutions,' the analysts added.
They additionally highlighted Apple's attempt to build a smarter Siri assistant. Apple teased a smarter Siri at the 2024 WWDC event. It's been more than a year and the wait is far from being over. The analysts said 'Apple was nowhere with AI then, and little has changed since', dismissing it as 'simply a case of overpromising and underdelivering'.
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