The creed of speed

December 7, 2015

Creed for speed http://www.economist.com/news/briefing/21679448-pace-business-really-getting-quicker-creed-speed True for $AAPL? App downloads every ms & >1k iPhones sold in 5′ but much of board serving for >5 yrs

QT:{{"“A CUSTOMER downloads an app from Apple every millisecond. The firm sells 1,000 iPhones, iPads or Macs every couple of minutes. It whips through its inventories in four days and launches a new product every four weeks. Manic trading by computers and speculators means the average Apple share changes hands every five months.”

And what about Apple, with the frantic antics of which this article began? Its directors have served for an average of six years. It has invested heavily in fixed assets, such as data centres, which will last for over a decade. It has pursued truly long-term strategies such as acquiring the capacity to design its own chips. Mr Cook has been in his post for four years and slogged away at the firm for 14 years before that. Apple is 39 years old, and it has issued bonds that mature in the 2040s.
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