Tim Cook’s prayer to the almighty
in history, as the tech behemoth’s market capitalisation has climbed from less than $400bn to almost $3trn. But he still acts as if he were there thanks to the grace of, or the skill of his colleagues, or divine providence. It was in character, then, that when he took to the stage at the iPhone-maker’s annual developers’ gathering on June 10th, he first greeted the cheering throng by clasping his hands together, as if in prayer. He probably would not admit this, but there was plenty to pray for.
Apple is suffering one of its periodic bouts of investor angst. Call it the curse of the missing mojo. In the past 18 months Wall Street has convinced itself—as it has a few times since Jobs died in 2011—that the creative spark bequeathed by Apple’s Promethean co-founder has finally sputtered out. Behind that is a real problem: sales of the iPhone, which account for half of Apple’s revenues, are slowing. But there is a perception problem, too.
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