It seems as if Google's being rewarded for becoming more like Apple, while Apple is being punished for trying to be more like Google. In fact, Apple CEO Tim Cook even said that Apple isn't a hardware company at a recent tech conference, perhaps trying to change people's perceptions of the tech giant. "Because we're not a hardware Company, we have other ways to make money and reward shareholders," he said. "This doesn't get noticed very much for some reason."
Cook pointed out that Apple generated $3.7 billion in revenue from services and software in its most recent quarter.
Perceptions of Apple have changed drastically over the past few months. Hedge funds left the stock in droves during the fourth quarter, with big names such as Third Point, Omega Advisors and Jana Partners liquidating their positions.
The market is notoriously fickle, and can change on a dime. Apple is no stranger to this phenomenon, something that Google has also experienced. Just don't be surprised if perception changes again sometime in the very near future.--Written by Chris Ciaccia in New York >Contact by Email. Follow @Commodity_Bull