The Boy Genius Report: Apple’s billion dollar mobile payment magic trick

Apple (AAPL) shares have fallen more than 35% since hitting a record high last September. The tech press has declared that Apple is doomed. On the defensive. Unable to compete with Samsung (005930). Never mind that the company only pulled in $13 billion in profit last quarter, and only has $140 billion in cash, and that Apple has the best-selling smartphone in the world. There is one thing that Wall Street analysts have forgotten in their reports, models, and projections — Apple has 500 million iTunes accounts with credit cards. Why would Apple reportedly be putting a fingerprint reader in its next iPhone in order to introduce NFC? Just to be extra secure? Probably not. It’s my guess that Apple



via Tech News Headlines - Yahoo! News http://news.yahoo.com/boy-genius-report-apple-billion-dollar-mobile-payment-155058662.html