Apple’s (AAPL) stock has taken an unprecedented beating over the past few months, and it appears as though the declining sentiment surrounding Apple is extending beyond the Street. A founding partner of Capitol Media Partners and Forbes contributor Brad Chase writes that when Forbes’ list of the “World’s Most Admired Companies” comes out later this week, Apple will likely no longer be at the top.
“The company isn’t going to disappear anytime soon. But the value of the once-invincible brand is teetering on the edge of a long, steady drop,” Chase wrote in a column on Forbes. “Apple’s well-documented approach to fostering a virtual community and establishing an open and transparent dialogue with its customers has been one of the leading drivers in its success. And now it is the cause of its inevitable demise.”
He continued, “The phenomenon of near-universal adulation and success is fleeting. Buzz about glitches, missed deadlines and high prices have been mere nuisance for Apple thus far, but it’s indicative of widening rifts amongst its followers. The mythic glory of the invincible Apple brand is evaporating in numerous ways.”
Apple reportedly has a number of new products in the pipeline this year, and the stakes couldn’t be higher as Wall Street and consumers at large look for reasons to reverse the current souring sentiment.