Apple Inc

Like I said before, Apple is an innovative company that is coming up with amazing products which they market extremely well and they certainly a lot of credit for this but I would still like to share some worries:

- they come up with new products too fast, and now risk to upset their customer base. the transition from Ipod Minis to Nanos and now iPhone was made too fast.

- they are very proud of their sales on iTunes, and I have to admit that the numbers are very impressive.. However, from a business perspective, they actually don’t make any profit on these content sales: The current per download business model means that music labels, movie studios and credit card fees eat up most of the revenue and leave no room for profits. this is to be worried about..

- coming back to the iPhone, I am worried that it will be quickly copied, especially by Asian manufacturers. Of course, Apple's brand name will always be superior but honestly, it doesnt come cheap: $500 to $600 with a 2-year contract. Furthermore, with the entry into the "super-smart phone market" which combine Mp3 and phone capabilities, Apple is little by little saying Bye to the very lucrative line of business that is the iPod. In fact, it no longer makes any sense to buy a simple iPod, when you can have a phone and an Ipod in the same device, does it?  

In some way, it seems that by coming up with amazing products such as the iPhone, they might actually hurt themselves... In that light, I have to say that the future of apple appears quite uncertain from a shareholders' perspective. I ll soon try to value that with a DCF, if I find the time (and the courage)! Any help is welcome.