October 18, 2013

Faber: Apple could face bankruptcy

The famous investor Marc Faber believes that Apple is a problem the company that makes many " frivolous " products and therefore may be directed towards bankruptcy.

" Apple shares are those you are not interested ," Faber said in an interview quoted by Business Insider. " I'm not saying that they will sink , but may get there eventually ," said another prominent investor.

According to Marc Faber eventual fate of Apple has a similar example from the past.

" It's like a Polaroid of the 70s . Eventually she , like Apple, has been founded and led by renowned innovator who eventually left her," recalls Faber.

"Dr. Edwin Land, who is the founder of Polaroid, was the owner of more patents than any other in the world," said Marc Faber.

1982 Land left his seat on the Board of Directors of Polaroid, and subsequently dropped from his research position at the company. In 2001 and famous for its production of sunglasses company filed for bankruptcy protection and continue to sell its assets.

At present, Apple certainly is a far cry from the fate of Polaroid. The technology giant has current assets of $ 43 billion. Her only income in the second quarter of 2013 even reached $ 35 billion.

Faber argues that the technology industry is full of " tombstones " of ekspazarni leaders. "We and many other examples of high-tech companies that simply disappeared," said the investor.

According to Faber biggest issue of Apple is that its products are not suited to human needs.

" It's just a company that produces toys for grown-ups," said popular investor.

Marc Faber is a great contrarian investor and publisher of the Gloom Boom & Doom Report. He is well known for his accurace predictions of stock market crashes and other correct calls on different investment assets.