Apple seen losing its innovation magic by 71% in global poll

NEW YORK: Apple, the world's most valuable technology company, has lost its edge among investors, according to the latest Bloomberg Global Poll. Hedge funds sold large stakes of the iPhone maker's stock in the first quarter, Apple shares are down 40% from last year's high and the company paid higher interest rates for a recent bond sale than Microsoft — in a PC trumps Mac moment. 





Now, 71% of poll respondents say the Cupertino, California, company has lost its cachet as an industry innovator, which includes 28% who say it is permanent and 43% who say it may be a temporary hiccup. There are still true believers; 23% said Apple remains the best in the business. Six per cent were unsure. 

"They've definitely lost their momentum," said Lionel Mellul, 43, head of the cash equity business at Sunrise Brokers in New York, a poll respondent. "It's still at the point where they might turn things around. 

They still have a strong brand." Chief executive officer Tim Cook said the company won't introduce a product to add to its innovations — the iPod, iTunes, the iPhone and iPad — until the US fall, one of Apple's longest stretches without a fresh gadget since at least 2000. 


71% of poll respondents say Apple has lost its cachet as an industry innovator, 28% say it is permanent and 43% say it may be a temporary hiccup.

Apple remains the most profitable technology company, generating $41.7 billion last year. In the global handset business, the iPhone accounts for 57% of the industry's profits, according to Canaccord Genuity.