The future of tech could result in more pocket space as Apple co-founder Steve Wozniak sang the praises of the iPhone maker’s technological advancements with mobile devices, but cited one missing feature: the ability to fold.
“Apple has been a leader for quite a long time in a few areas such as touch ID, facial ID, and easy payment with the phone,” Wozniak said in a Bloomberg TV interview. “They’re not the leader in areas like the folding phone, and that worries me because I really want a folding phone.”
Wozniak may have been alluding to competitors like Samsung Electronics Co. and Huawei Technologies Co revealing phones that can fold–the Galaxy Fold and the Huawei Mate X, respectively.
Related: iPhone 11 Casing May Have A “Frosted Glass” Look
For investors looking for a suitable tech ETF play to capture potential future Apple growth, the Invesco QQQ (NasdaqGM: QQQ) tracks the tech-heavy Nasdaq-100 Index.
Microsoft (MSFT), Apple Inc (AAPL) and Amazon (AMZN) combine for about a quarter of QQQ’s weight.
Brimming with Optimism
Wozniak was effusive in his praise of the direction that the iPhone maker is heading. Apple is looking to explore other opportunities outside its core business of mobile devices–the iPhone in particular.
Apple might want to consider upping the ante on its Apple TV as Wozniak still prefers using a Roku player.
“They just got so successful on the iPhone and that was their whole business for a long time,” Wozniak said. “Now they’re branching out so a lot of their businesses have been very good.”
Apple and Goldman Sachs are teaming up to issue a joint credit card that will incorporate iPhone features for intuitive money management. A beta test of the card will be rolled out to employees within the next few weeks and its official launch will take place later this year with the goal to entice cardholders by offering more robust features that can work in cohesion with Apple’s Wallet app.
Last month, Apple bested analyst expectations in earnings and revenue for its fiscal first quarter, muting earlier warnings by CEO Tim Cook that results would disappoint due to lackluster iPhone sales. Cook cited weaker demand in China as a major factor affecting iPhone sales.
Wall Street Expectations:
- EPS: $4.17 per Refinitiv consensus estimates
- Revenue: $83.97 billion per Refinitiv consensus estimates
- iPhone revenue: $52.67 billion per Refinitiv consensus estimates
- Services revenue: $10.87 billion per Refinitiv consensus estimates
Actual earnings results:
- EPS: $4.18
- Revenue: $84.3 billion
- iPhone revenue: $51.98
- Services revenue: $10.9
Shares of Apple have been battered as a result of weaker guidance with the tech giant projecting lower revenue due to weaker demand for its iPhone. This was reflected in the final fiscal first-quarter earnings results as the iPhone maker beat expectations in earnings per share, revenue and services revenue, but as expected, fell short on iPhone revenue.
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