Apple man concerned about future

Denmark News.Net
Monday 13th October, 2008

Steve Wozniak, the electronic engineering genius who co-founded Apple with Steve Jobs, has said he fears a technology bust may be just around the corner.

Last week, Apple shares tumbled nearly 20 per cent after a downgrade of the stock on fears that the consumer spending slowdown could seriously hit future profits.

Wozniak says the downgrade was just the beginning for the whole computer industry, which he said was due for a slowdown.

Mr Wozniak said the over-valuation of some web and social networking sites could even lead to a minor version of the dotcom crash which saw $5 trillion wiped off technology stocks.

He said if consumer spending on technology were to plummet, Apple would still be better placed than others, due to the dedication to the product by Apple customers.

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