A very interesting but somewhat ludicrous Fast Money column today shows that even though CNBC’s former Silicon Valley bureau chief (and infamous Apple fanboi and mouthpiece), Jim Goldman, left the station in July to work in PR, his spirit lives on, at least in terms of the station’s fawning worship of all things Apple. The core of the column is factual and speaks for itself. The iPad has out done the DVD player to become the most quickly accepted consumer electronics product in history, by a wide margin. If it continues at its current sales pace, it will also outdo the first year sales of the iPhone…easily.
Those are the facts, and they are certainly impressive. However, Fast Money then goes past the impressive reality and begins to lay on the typical CNBC nonsense…
Here is what writer John Malloy had to say…
At this current rate, the iPad will pass gaming hardware and the cellular phone to become the 4th biggest consumer electronics category with estimated sales of more than $9 billion in the U.S. next year, according to Bernstein. TVs, smart phones and notebook PCs are the current three largest categories.
“This is much bigger than I thought it would be,” said Pete Najarian, co-founder of TradeMonster.com and a ‘Fast Money’ trader. “It’s really a total media device and there’s not much a PC can do that you can’t do on an iPad.”
To be fair to the DVD, they were a bulky, pricey change from video recorders that had become a staple of most American homes. It took five years for the DVD to reach the unit sales pace that the iPad reached in just its first quarter, according to Bernstein. The iPad had the advantage of being the extension of Apple’s ever-expanding ecosystem of iPhones, iPod touches and Macs that are marked by ease of use and a familiar style.
First and foremost I love how he declares the iPad to be a “category” like gaming hardware or phones. All by its lonesome…so much for any competition in the tablet space. Of course the failure of vendors to get tablets released on schedule is a big part of why he can get away with this. Essentially, the iPad IS the tablet market right now, however that can’t last much longer. However, as far as Malloy is concerned there is the iPad, then “Tablets”. Nice.
I also am amazed by Najarian’s assertion that there is not much you can do on a PC that you can’t do on an iPad. Clearly he either hasn’t used an iPad much, doesn’t really do much on his PC beyond solitaire and email, or both….or maybe he is just mindlessly parroting Apple marketing talking points? It doesn’t matter since the article just keeps hammering away with the idiotic conclusion that the iPad is cannibalizing notebook sales, as well as all other electronics. Soon someone will explain with a straight face that the falling birthrate and rising iPad sales means that families are delaying having children to buy iPads.
In another Goldman-esque flourish, Malloy then blows sunshine at the “ever-expanding” full range of Apple products, dropping in that they are all “marked by ease of use” as if it were an accepted, universal fact. The sun rises in the morning, war is bad, and Apple products are easy to use…film at 11.
The iPad truly is a great bit of kit, and is playing a major hand in changing the way people relate to technology…but some perspective might do CNBC a lot of good.