Tech pundit and marketing professor Scott Galloway has made his annual predictions for 2020.
His prophecies are wide-ranging, covering almost every tech giant and other global companies.
For Apple, Galloway tips the company to soar 30 per cent in 2020.
“All the pieces in place, more than 90 per cent of the Fortune 500 have a recurring-revenue relationship with Microsoft,” says Galloway.
“Apple will launch a rundle relationship with the 100 million wealthiest people on the planet, who will get their phone, watch, listening device, laptop, music, news, and validation that they are our economy’s apostles: wealthy people who think different (innovators).”
And if Apple’s Q1 financial results are anything to go by, Galloway could be correct with this prediction.
The company recorded $US91.8 billion ($135.8 billion) in profit for the period between October 1 and December 28, 2019, a nine per cent year-on-year increase, marking the highest quarterly revenue ever for the company.
However, Galloway is not sold on Netflix.
“Netflix stock declines 20 per cent+ as capital floods into category; the firm makes an acquisition focused on distribution (a weakness),” he says.
He also predicts Sonos will be acquired, Hulu will be absorbed into Disney+ and Tesla stocks to drop 50 per cent.
But perhaps his most exciting prediction is: “Tom Petty, George Michael, and Prince tour again (hologram live performances become a thing).”
So what’s the likelihood of these predictions coming to fruition?
Judging by Galloway’s 2019 predictions, not too high.
Last year, the professor tipped Snapchat “to be roadkill” due to the threat of Instagram, which was ultimately proved incorrect.
He also said Tesla would come undone, a call ultimately disproven by the company’s current all-time high stock price.
Another of Galloway’s 2019 predictions was Amazon to spin off its cloud business AWS. Although this did not happen, Galloway is not convinced it will never happen.
“If you assign Salesforce’s multiple to AWS, it’s worth more than Amazon right now. If and when they spin it, it will go up in value,” he said.
“Antitrust isn’t punishment, it’s oxygenation of the market. For the first time, we witnessed analysts and media begin to ruminate on the idea of a spin.”
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