Apple will give up on technology
 

Become an evil banker instead

Technology writer Robert X. Cringely has made an astonishing prediction that the fruity cargo cult Apple is going to pack in making technology.

Cringely, 66, thinks that his 2019 predictions will be his last. "I sense the tech industry is about to enter an unprecedented correction."

He thinks that Apple under Tim Cook is behaving exactly in the same way as General Electric's Jack Welsh. For those who don’t know, Welch took GE into financial services during the early ’80s and transformed the company.

Cringely said: Apple’s strategic shift strategic shift started to show just this week with Apple directly financing iPhone sales in China and announcing an Apple credit card with Goldman Sachs.

“Look for Apple to start financing lots of things in 2019. Remember your car dealer would rather lend you money than have you pay cash for that ride because financing is its own profit centre. So, iPhone prices will continue to rise, but iPhone payments will probably decline as Apple cuts out middlemen and efficiently sucks-up that aspect of the phone supply chain. This is how Apple will arrest iPhone market share declines -- by assisting sales and making even more money in the process.”

Cringely expects Apple to not just make strategic investments but take part in strategic financing too.

“Apple is probably closest to becoming is a hedge fund -- a big hedge fund in fact. Apple's available financial power is equal to that of the world's two largest hedge funds -- Bridgewater Associates and AQM Capital Management – combined”, he said.
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