Mike Markkula was as instrumental in developing Apple as Steve Wozniak. It was Steve Jobs who was able to convince Markkula to join Apple and became the company’s third employee. He graduated from the University of Southern California with a degree in electrical engineering.
Today’s customers are constantly tempted with new products and services, with a much greater selection to fill any void. Therefore, Apple must crank up the innovation machine and decrease production time. I’m waiting to see how that plays out, but fundamentally, Apple needs to show that it can grow before I can recommend it as a buy. Until then, I continue to rate it as a hold.