CNBC host asks Apple analysts the dumbest questions (video)

Joe Kernan to Davidson’s Tom Forte and Wedbush’s Daniel Ives in an episode that aired Friday:

Kernan: I’ll pick which one of you I want to answer after I do my little rant. So, there are no flying autonomous Apple cars, I don’t see anyone wearing those ugly watches anymore. What happened? I’m going to start with you, Tom. Is it the services and the whole [waves arms] Apple ecosystem that has continued to perform? Is that why? None of the big… I don’t have a new Apple TV. I have Apple TV, but I don’t have one [draws a rectangle in the air] that they make. None of these things have happened, yet the stock has at least doubled from where we were saying “what are they going to do next?”

Forte: It’s a great question, Joe.

Switching from straw horses to salty hyperbole, Kernan tells Ives that his iPhone brings tears to his eyes and that he would swim across the Hu∂son if he ever left it by mistake on the Jersey side.

Cue the video:

My take: What a clown.

23 Comments

  1. Adam Foster said:
    We have been calling him “Joke Kernan” for as long as I remember…

    7
    July 16, 2021
  2. Tim Collins said:
    Joe is the poster boy for the mansplaining demographic…..and that is probably why is in that chair.

    4
    July 16, 2021
  3. Aaron Belich said:
    Where does he go that he doesn’t see Apple Watches?

    We just did a stint at Silverwood theme park in western Idaho, they were everywhere amongst staff and guests alike.

    6
    July 16, 2021
  4. Gregg Thurman said:
    It was a poorly constructed statement. Could Joe have meant that he doesn’t see anything that ISN’T an Apple Watch, and it was those watches he deemed ugly? After all it’s near impossible to not see an Apple Watch (if you are paying attention).

    2
    July 16, 2021
    • Kirk DeBernardi said:
      @ Gregg Thurman —

      “(if you are paying attention)”

      Spot on, Gregg. IF you’re paying proper attention — which a lot of these talking heads don’t.

      Unless playing incoherent is a “click” strategy…

      Click or dick.

      (There. I said it.)

      4
      July 16, 2021
      • Gregg Thurman said:
        Spot on, Gregg. IF you’re paying proper attention — which a lot of these talking heads don’t.

        Rereading Joe’s comments I don’t t think his critics see his comments for what they are.

        #1. Joe doesn’t have the Apple TV BOX (do we really need it.), but he has AppleTV+
        #2. Joe doesn’t see those “ugly” watches (anything other than Apple Watch) anymore, which implies that at one time “ugly” was the dominant style but aren’t anymore (Apple Watch #1 in market share).
        #3. He’d gladly swim the Hudson if he left his iPhone in New Jersey.

        I think he’s describing his buying preference and appreciation and I think his question is, “we haven’t seen a flying autonomous car (aka breakthrough product), yet the Company is growing by leaps and bounds. What’s driving it? Is it Apple’s ecosystem (aka Services)?

        1
        July 17, 2021
  5. Kirk DeBernardi said:
    “CNBC host asks Apple analysts the dumbest questions.”

    “…and the beat goes on.”

    (shout-out to Sonny & Cher)

    5
    July 16, 2021
  6. Jerry Doyle said:
    Joe Kernan has become a satire parody of himself among many viewers, among many of his peers and even among one (if not both) of his cohosts. I’m not being facetious when I make that statement.

    This interview mirrors an epitome of why Joe has plummeted to that level of perception among many. If this were an isolated interview of such level of manifested jaw-dropping ignorance on his myopic understanding of the largest market capitalization company in the world, then perhaps it could sustain public scrutiny. It’s not! This is typical Joe Kernan at his best.

    I truly do not understand how Joe keeps his current position. His cohosts, Becky Quick and Andrew Ross Sorkin, are the embodiment of professionalism doing their jobs. This may be why Joe Kernan comes across often in his current position (juxtaposition with the other two) as a clumsy, awkward, ineffectual and incompetent clown.

    3
    July 16, 2021
  7. Fred Stein said:
    OT: Former AMA quest speaker, Ben Bajarin, published an excellent survey of 500 + small Apple developers. For these sole proprietors, Apple is their supply chain (Dev Tools, APIs) and their retail channel.

    3
    July 16, 2021
  8. People working in the food & beverage industry, healthcare, raising little kids, teachers, I rarely see a wrist without an Apple Watch. One server advised me years back, “We aren’t allowed to use our phones except on breaks. I got kids to keep track of!”

    3
    July 16, 2021
  9. Alessandro Luethi said:
    Dumb were also the responses given by Forte and Ives!

    0
    July 16, 2021
  10. Miguel Ancira said:
    I cannot stand that guy. He talks down to everybody.

    2
    July 16, 2021
  11. Greg Lippert said:
    Ugly watches. KMA Joe. I think they are beautiful. And I bet my eye is better than your wit.

    1
    July 16, 2021
  12. Jerry Doyle said:
    I want to acknowledge Daniel Ives. Ives is the Apple analyst who has catapulted to the forefront of WS analysts having a full understanding and grasp of knowledge of who Apple & all things Apple is to the consumer and markets.

    While Tom Forte (with a smile on his face) played into Joe Kernan’s loose cannonball assessment of Apple by saying, “It’s a great question, Joe,” it was Daniel Ives who never cracked a smile. Dan Ives threw right back at Joe Kernan’s apprentice knowledge & understanding of Apple that it is “Services,” Joe. “Services (Joe) is the key.” “Services (Joe) is the one-two punch!” “We believe Services (Joe) are worth 1.3T today.”

    Did you listen to Ives, Joe? You can learn from him Joe. “It is Services” that is driving Apple’s growth today. Got that Joe?

    When is WS and the media going to understand that Apple is more than an iPhone company?

    You did good, Dan. Dan’s the man!

    5
    July 16, 2021
  13. Bart Yee said:
    In my observations here in SoCal, most of the health care professionals (doctors, nurses, techs, etc.) I see mostly use Apple Watches along with iPhones. That over the years then spread to more and more people in all walks of life. Everyone I ask says the Apple Watch became an indispensable PTT of their life for various use and health reasons. With the Watch SE, it become more and more affordable and of course stickier. In the US, you’re pretty much wearing the Apple Watch or pretty much no Watch since the Android smart watch offerings are fairly poor selling or unused by the Android masses.

    In other parts of the world, the Apple Watch is still more visible since smartwatch usage is still growing.

    0
    July 18, 2021
  14. Bart Yee said:
    Here’s a quick look at Apple’s business segment revenues and their % contribution. We can see iPhone is still a majority contributor especially in launch months but in following quarters, Services and other non-iPhone hardware make substantial contributions.

    Note how Wearables and Home is a $30+B segment by itself in 2020 and already at $20B+ after 1HFY21. Everyone should remember that AirTags will be adding to that segment.

    2020 revenues per 10K filing*
    Apple revenues
    iPhone 137.78B 50%
    Mac 28.6B 10.4%
    iPad 23.72B 8.6%
    Wear/Home/Acc 30.62B 11.1%
    (Non-iPhone hardware = 30.1%)
    Services 53.77B 19.5%
    Total 275.5B

    Q1 2021 per 10Q*
    iPhone 65.6B 58.9%
    Mac 8.675B 7.78%
    iPad 8.435B 7.57%
    Wear/Home/Acc 12.97 11.65%
    (Non-iPhone hardware = 27.0%)
    Services 15.76B 14.1%
    Total 111.44B

    Q2 2021 per 10Q*
    iPhone 47.94B 53.5%
    Mac 9.1B 10.1%
    iPad 7.81B 8.7%
    Wear/Home/Acc 7.84B 8.75%
    (Non-iPhone hardware = 27.6%)
    Services 16.9B 18.87%
    Total 89.58B

    6 months FY2021*
    iPhone 113.53B 56.5%
    Mac 17.78B 8.85%
    iPad 16.24B 8.1%
    Wear/Home/Acc 20.81B 10.35%
    (Non-iPhone hardware = 27.3%)
    Services 32.66B 16.25%
    Total 201.0B

    2
    July 18, 2021
  15. David Drinkwater said:
    So Joe Kernan and Tom Forte don’t get it. Yes, the iPhone is important. Always will be. So is the Mac; always will be. But I think Daniel Ives has it right: Services are what is driving the greater stickiness, and it will drive new users, just like today’s CIRP data indicate that iPhone users stick to iPhone more than Android users stick to Android. (I’m a little late invoking Monday’s news in response to Friday’s news, but the story rings true to me.)

    And it will be very interesting to see how the upcoming hardware that is new not just on the inside (M* Apple microprocessors), but also on the outside (redesigns) really starts to move the needle. Samsung and the Android crowd have done some some interesting things ahead of Apple in the hardware space, but they don’t seem to have done them overly well. When that next new things comes from Apple, we’ll all be astonished and impressed at the same time. I think that even those who think they know will be surprised. Or maybe, just maybe, it won’t be a surprise. It will have already have been rumored, but ti will come across much stronger than expected.

    But back to the main thesis, I think Ives is correct that the current growth we are seeing is because of the services stickiness.

    0
    July 19, 2021

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