Steve Wozniak Projects Apple to Bounce Back, Tim Cook Could Be Sacked Due To Lackluster Growth

Apple is going through a touch period, as its shares hit 16-month low. The iPad maker hasn't come up with any product in the recent months. Tim Cook, CEO, Apple promised killer products this year. Despite that Apple is shrinking, and its nearest competitor- Samsung is flourishing like anything. Steve Wozniak, who co-founded Apple with Steve Jobs, once again came into defend Cupertino-based tech giant.

He [Steve Wozniak] is of course disappointed with Apple's performance due to lackluster products announced lately by tech giant. Recently he was invited at Login technology conference in Vilnius, Lithuania, where Mr. Wozniak expressed his anger, and frustration at Apple. He further said that Apple will bounce back by announcing some new devices in the coming months. But, Steve Wozniak stayed mum about Apple's upcoming plans.

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"But where are the profits of the whole industry though? They are still with Apple and profits are all that really matter in the long run. Apple's business model tends to be new products, even products that didn't exist before and doing well out of them and not re-making the same thing, as eventually that just gets a little bit stale. So I would guess that Apple is very well prepared, and working on new things that are going to surprise and shock us all. And I honestly don't know [what]."

The Next Big Thing? - A New CEO

In another set of news, Apple is secretly hunting for a new CEO, as per the Forbes. In the past few months under the supervision of Tim Cook, company's shares tanked below $400, which is itself surprising, and could be more problematic for share holders. Take this information as a pinch of salt, as nothing has been finalized yet. For many of you do not know about Tim Cook, the current CEO of Apple, is a management guy who understands supply and demand well. But when it comes to innovation part he is not as bright as Steve Jobs used to be. Apple delivered its last hit product - iPad, back in 2011.

Since then no one has seen any big innovative product announced by the tech giant. Even the latest iPhone fails to attract many. Now it is speculated that Apple is planning to announce a lower cost iPhone. Industry pundits believe that this could prove disastrous for a premium brand like the iPhone.