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Kernel of Truth to Big Apple Rumor

Courtesy of Benzinga.

French designer Phillippe Starck recently claimed that Apple would unveil a revolutionary new product by the end of the year. But after the iPhone maker denied this claim, many tech enthusiasts lost interest in Starck’s hype-filled promise.

Was that a mistake? Should we ignore our fears and just take his word for it? We won’t know for sure until the year comes to a close. In the meantime, however, those who dismissed Starck’s remarks may want to consider Apple’s (NASDAQ: AAPL) own history.

“When I see stuff like that, I think there might be a kernel of truth,” James D. Ragan, a senior equity analyst at Crowell, Weedon & Co., told Benzinga. “Apple is so secretive all the time. I think it has worked well for them to be that way. It builds a lot more excitement when they do announce a new product. But I’ve learned to not necessarily pursue it in-depth. So there could be some truth to that. There [are] already rumors that it’s probably more related to some type of television product.”

Further, Ragan said that he believes it’s valid to think that Apple is developing “what they believe are revolutionary products — probably more than one — that they’ll unveil over the next few years. But to try and figure out if [the one Starck mentioned] is the one, I don’t know.”

Follow me @LouisBedigianBZ


For more Benzinga, visit Benzinga Professional Service, Value Investor, and Stocks Under $5.


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