Apple should focus on capturing the living room: Analyst
Apple should figure out how to capture more consumers in the living room with more content in addition to focusing on its iPhone, analyst Will Power told CNBC on Tuesday.
Squawk Box.” “What can they do on the content front. What can they do to really own the living room?” Power asked.
The company will host its 2018 annual shareholder meeting at the new Steve Jobs Theater later Tuesday. The agenda includes votes on compensation for board members and executives. CEO Tim Cook will also field questions from his shareholders
Earlier this month, Apple reported quarterly earnings and revenue that topped estimates, sending its shares higher initially. The stock gains came despite falling iPhone shipments and disappointing guidance for 2018.
Apple’s service business includes the App Store, Apple Music, Apple Pay and Apple Care. Its services targets for the quarter fell short of Wall Street expectations at $8.5 billion
Power also said Apple shouldn’t focus on any massive acquisitions to satisfy its investors and boost its stock. Instead, the company should focus on what it’s good at, he argued.
A massive merger deal would “change the nature of the company,” Power said. “It’s still a company that’s growing at a healthy clip, and we expect that to continue.”