FORTUNE -- "Innovation at Apple is over," wrote Trip Chowdhry on Oct. 23, the day Apple introduced what would soon became the world's best-selling tablet computer. "The best is over for Apple. iPad mini is playing catch up to Google Android, probably will have a mediocre customer adoption."
It was par for the course for Global Equities Research's curiously wrong-headed Apple (AAPL) analyst. Two months earlier, just days before the Apple v. Samsung jury awarded Apple $1.05 billion in damages, he confidently predicted that no money would change hands.
But Chowdhry outdid himself with the four-point bulletin he issued Sunday. Permit me to excerpt and annotate:
1) Apple has not innovated since the passing away of Steve Jobs.[This four weeks after Apple unveiled what is arguably the most innovative mobile operating system since the original iPhone.]2) The likelihood of Apple being able to come up with innovative product ... is very slim, given that the Apple Stock is 40% below its high of $705: This lower stock price is prompting some of the smarter Apple employees to leave Apple for other companies such as Google, which is a very serious problem for Apple.[This a few days after Apple was discovered to be registering the iWatch trademark around the world.]3) Apple has changed from being an innovative company to a company returning cash to the shareholders; and that has completely backfired: ... Everyone is wondering who is getting all the Cash? ... Some are speculating if Tim Cook and Peter Oppenheimer will remain at Apple.[Really? Everyone?]4) The current executive team led by Tim Cook and Peter Oppenheimer have destroyed the shareholder value at Apple: Both, MJN, a baby food company and CLX, a Toilet cleaning company, trade at more than 2x the multiple that of AAPL. Hence most people are quite alarmed that Tim Cook and Peter Oppenheimer are systematically destroying Apple's shareholder value.[This is priceless. A sell-side analyst who for eight months has been urging his clients to unload the stock blames the CEO and CFO for destroying Apple's shareholder value?]
Chowdhry concludes the note by suggesting that Cook and Oppenheimer be replaced with two former Apple executives: Jon Rubinstein, who was CEO of Palm before it was absorbed and forgotten by Hewlett Packard (HPQ); and Fred Anderson, who resigned Apple's board following a three-month investigation into the company's option backdating practices.
The last time someone tried to copy Apple by hiring its engineers didn't go so well
FORTUNE -- Remember Jon Rubinstein?
He headed up engineering for Steve Jobs, first at NeXT, then at Apple (AAPL), where he built the iMac, the PowerBook, the Power Macintosh and the iPod, before "retiring" a few weeks after publicly dissing the idea of merging a phone with a media player. ("Is there a toaster that also knows MOREPhilip Elmer-DeWitt - May 28, 2012 8:11 AM ET
The Touchpad, not reliant on Android, Windows or (of course) iOS, is a sign that HP demands to be taken seriously as a software company.
Yes, HP (HPQ) has now jumped into the tablet fray with its TouchPad. It's a whiz-bang cool gadget, and some folks will want to rush out and buy it. Are we talking iPad numbers? Not likely, but whether HP sells as many of its flavor of MOREMichael V. Copeland, Senior Writer - Feb 9, 2011 3:41 PM ET
A curated selection of the day's most newsworthy tech stories from all over the Web.
"In my experience, entrepreneurs moving into Yahoo! often got stuck doing PowerPoints about "strategy" instead of writing code and shipping products." -- former Yahoo developer and current Etsy CTO Chad Dickerson (TechCrunch)
Rupert Murdoch's much-talked about daily newspaper for the iPad, The Daily, will reportedly launch the week of January 17. Said a source to AllThingsD: "It MOREJP Mangalindan, Writer - Dec 20, 2010 6:00 AM ET
Hewlett-Packard's Palm buy could be a good fit, but it's got a long way to go before it can catch up with the iPhone.
Not even a year ago Palm (PALM) and its chief investor, Elevation Partners, confidently spun a yarn about the pioneering company's long-term plan. The smartphone market was nascent. It was going to be massive. Even a small share of such a big market would lead to huge MOREAdam Lashinsky, Sr. Editor at Large - Apr 28, 2010 5:09 PM ET
Former Apple exec Jon Rubinstein remains committed to Palm's success, even as takeover rumors swirl.
But sales disappointed, first with Sprint, then with Verizon, which offered customers Motorola's Droid – which runs Google's Android operating system – before Palm's Pre and Pixi. Palm's holiday sales were weak, and its financial guidance has been cautious, sending its stock below $4. With investors and industry pundits doubting Palm'sability to survive, Rubinstein sat MOREAdam Lashinsky, Sr. Editor at Large - Apr 8, 2010 3:00 AM ET
Tony Fadell leaves Apple nearly 17 months after losing the iPod/iPhone division
He came to Apple (AAPL) in 2001 with plans for building what would become the iPod. By 2006 he had replaced Jon Rubinstein -- who went on to build the Palm (PALM) Pre -- as head of Apple's iPod division, in charge of both what was then the company's biggest cash cow and the project that would become the MOREPhilip Elmer-DeWitt - Mar 30, 2010 7:14 AM ET
"We must do whatever we can to stop this."
That's how Apple (AAPL) CEO Steve Jobs is reported to have asked then Palm (PALM) CEO Ed Colligan to enter into a possibly illegal agreement to stop trying to hire away each others' top engineering talent.
If accurate, it may be one of the most stilted attempts to collude ever recorded.
Colligan's answer, according to Bloomberg's Connie Guglielmo, who says she has reviewed the MOREPhilip Elmer-DeWitt - Aug 20, 2009 7:47 AM ET
Ever since January when Palm (PALM) unveiled the Pre -- the first smartphone to challenge Apple's (AAPL) iPhone with a multitouch screen of its own -- the tech press has been waiting for Cupertino to respond. COO Tim Cook made a couple of clenched-teeth threats about companies that rip off Apple's intellectual property, but nothing came of it.
On Tuesday, 10 days after the Pre went on sale, Apple published MOREPhilip Elmer-DeWitt - Jun 17, 2009 5:50 AM ET
Jon Rubinstein, the computer engineer credited with building both the iPod and the Palm Pre, has been named chief executive officer of Palm (PALM).
He replaces Ed Colligan, who led the company for 16 years.
Rubinstein, 52, once one of Steve Jobs' closest advisors, left Apple (AAPL) in 2006 with stock holdings reportedly worth $26 million. He is said to have clashed with Jobs over the wisdom of building the iPhone.
He was MOREPhilip Elmer-DeWitt - Jun 10, 2009 6:20 PM ET
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