Is Apple Losing Its Magic?

BANGALORE: It appears that Apple could get outdated in the next three years due to the increased competition in the market and fast growing changes in the technology sector. This shocking comment comes after the declaration of the second quarter profits, reports CNBC.

Apparently, Pedro De Noronha managing partner at hedge fund Noster Capital, said that he was no sure about Apple’s long term future, “I need to know where a company is going to be in 5-to-10 years. I mean look at Apple, a company we all admire...I don't know where they are going to be in three years”.

"It's a very competitive landscape. They might become obsolete in two-to-three years, as we've seen with dozens of technology companies," Noronha added.

Apple sold close to 35.2 million handsets in the three months ending it on June 28, which is a rise of 13 percent from the sales chart last year. However, the iPad sales did create some disappointment falling for the second consecutive quarter.

On the Upside, Apple has high hopes on its new iPhone 6 and its wearable devices launching this year to drive its growth in the market.

"We still think there is an upside to this story, obviously from the product cycle, iPhone 6 coming through this second half of the year, and then obviously new product category potential which is not factored into our expectations at this point," said Aaron Rakers, managing director at Stifel.

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