Apple CEO Tim Cook Again Promises New Product Categories, But Investors Are Getting Restless

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With the recent developments from Samsung and Google, there’s no telling if this product is going to be a service, a long awaited television, a wearable device or something completely new.

Apple’s stocks lost around $40 billion in market value after an 8% downturn. It’s hard put this down to a single factor, but the slackened progression of the company as well as unclear future prospects haven’t helped.

New products are highly anticipated from investors and consumers alike due to the slowed growth of Apple’s biggest selling lines, the iPod and iPhone. The entire technology industry often looks to Apple as a forefront leader to get new markets rolling. The direction the next wave of innovative technology heavily depends on their next move.

Apple’s competitors have been taking their own initiative on areas of the industry they are creating themselves as well as their take on the market leading products. If products like Samsung’s Galaxy Gear Smart Watch to creative to tech driven smoke alarms and thermostats succeed, it can only be a good thing for the industry. Depending heavily on one company can make for an unpredictable industry.

Consumers have mostly welcomed these new products. They are not expecting Apple to be the first to create every piece of innovative technology; they are expecting Apple to provide the first comprehensive and widely accessible version of it.

In the conference call, Cook was not short of hints. Questions regarding innovation were being thrown around in a fruitless effort to get information on new products. Cook stated that innovation has “never been stronger. I think customers are going to love what we’re going to do”. Talk of new phones soon cropped up, to which Cook said, “We’re willing to make any product that’s a great product. Our line in the sand is making something that’s not fantastic… We’re working on things that are things that you see today, but we’re working things that … you can’t see today.” He went on to make it clear there would be one or more new products coming this year.

Apple has never struggled to come up with great versions of the most essential types of product. For their continual growth that ability must be converted into new products with similar success rates as the iPad, iPod and iPhone.