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[00:00:04] Doug McIntyre: Lee in the AI revolution, the one big tech company that has been left out is Apple. And all the news out of Apple right now is that that’s going to continue into next year. And it’s one of the reasons that Apple’s stock is underperforming the s and p this year by a lot,
[00:00:23] Lee Jackson: By a very large margin.
[00:00:27] Doug McIntyre: And there were probably two or three years when it was the largest market cap stock in the world.
[00:00:32] Doug McIntyre: It’s now number three or four, and Nvidia (NASDAQ: NVDA | NVDA Price Prediction) is number one at over 4 trillion. I think, you know, people always say, well, they’re writing the obituary of Apple. This has happened 10 times since you and I started to watch the stock decade, decades ago. Oh yeah. But I, but I think that writing the obituary now is reasonable.
[00:00:52] Doug McIntyre: I think it’s a reasonable thing to do.
[00:00:54] Lee Jackson: Yeah. And, and it’s, it’s been stunning how everything seems to ride on a new iPhone and they get more and more expensive. It’s harder and harder to put on features that are appreciably different. I mean, we, we discussed this last year when the 16 came out. We were like, well, there is one advantage here is that the iOS 18 didn’t work on a 14.
[00:01:20] Lee Jackson: You know, and I think it worked on a 15, but if you had a 14 or below, it wasn’t gonna work. So, you know, that was an incentive to buy. But I mean, at this juncture, I think, you know, this saving sort of thing, this new saving sort of trend where everybody’s trying to save money. Why are you, if you have it, like for instance, a 16 or 15, why are you gonna replace it this year or next year or the year after at 12, 13, $1,400?
[00:01:47] Lee Jackson: I don’t think it happens.
[00:01:49] Doug McIntyre: Well, iOS upgrades are not what they used to be. It’s not like you’re getting, particularly when your iOS update does not have a major AI feature to it. Right. You know, I’m very interested in iOS. When you say to me, you know, this has got a feature that’s comparable to what open AI gives you.
[00:02:06] Doug McIntyre: Not happening. All the rumors are, is that they’re having huge amounts of trouble with that and look, every year leaving aside. The operating system, you get a slightly better camera and a slightly faster chip. 99.9% of the people in the world can’t tell the difference. When you say it’s got a better camera, they don’t use the, if you say to people, oh yeah, what do you use your camera for?
[00:02:32] Doug McIntyre: Do you like, use all that portrait stuff and you take long movies with it? The answer is no. I take pictures with it and maybe right of my dog. Yeah. I’ve got a flash ball. One of the people I know they’ve learned how to use the feature where you turn on a little timer and you wanna take a picture of your family.
[00:02:53] Doug McIntyre: You put that on, you run around and then it take, We’ve done that. Sure. I am not gonna spend real money to get a better camera and a faster processor because a faster processor doesn’t mean anything. It’s not really. They watch movies on these things. So what’s the, what’s the most important significant thing you do on an iPhone?
[00:03:14] Doug McIntyre: I mean, I don’t use Siri. It’s junk. It’s, you know, not very good Siri. Uh, call Bruce my father. That’s all I use. Siri, I used same here. They’re talking into it. I, some people ask about if I need to know the temperature somewhere, the weather. Uh, I don’t trust it. I mean, I wouldn’t, oh, Siri, you know, make me an airline reservation to,
[00:03:38] Doug McIntyre: This is funny. I just said Siri, call Bruce.
[00:03:42] Lee Jackson: It just called your dad? Yeah, yeah. There you go.
[00:03:45] Doug McIntyre: Well,
[00:03:45] Lee Jackson: tell, tell Pop we said hi. Tell the mayor.
[00:03:46] Doug McIntyre: Oh my God. My father’s 95 and he knows more about how you use an iPhone than I do. Of course he does, but, but I do, I I think Apple’s a dead stock for now. I do,
[00:04:01] Lee Jackson: I have no bid. And you know what they really need? You know what they really need? They need Tim Cook to step down. They need somebody new at the top who’s not some old Fossil that was part of Steve Jobs, you know, posse back in the day, you know, they need somebody new. He worked for Microsoft to bring in somebody new.
[00:04:22] Lee Jackson: It’s worked well.
[00:04:25] Doug McIntyre: Well, look, I think he’s smart. Oh, he is smart. I agree. But he’s an operations, you know? Yeah. He was Jobs’ COO, right? I think at this point, apple needs a visionary, right? Somebody who comes from the software side of the business, somebody who’s a brilliant technician, you know, I know people don’t like Elon Musk, but guess what?
[00:04:47] Doug McIntyre: He has an engineer’s mind. The people who run most of these companies now. They think the way creative, brilliant engineers think they do not think about supply chains, right? That’s and supply chain people do not make big tech work. No, I don’t care if you dislike Elon Musk. A lot of people do, but he’s an inventive genius.
[00:05:12] Doug McIntyre: He’s the Thomas Edison of his era. Absolutely. Apple doesn’t have that guy. Tim Cook is not that guy.
[00:05:18] Lee Jackson: No. Like you said, you know, he was COO and he was an operations guy and kept the band rocking, but he wasn’t the guy to, to carry forward a vision like Jobs had. There’s no question about it.
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