Last week, the blog Consumerist published a list of what it considered the ‘most damaged’ American brands. For the most part, the selections were unremarkable. Hyundai made the cut after advertising inaccurate fuel estimates and most recently, for that unspeakable new (and now yanked) TV spot featuring a man attempting suicide in his car. BlackBerry (RIM) was also on the list for its $646 million profit loss, multiple Z10 launch postponements, and an overall dismal fiscal year led by CEO Thorsten Heins, who this week almost comically called into question the viability of tablets. Also on there, J.C. Penney–obviously. One brand that seemed out of place amongst the embattled was Apple. Citing a lack of recent innovation, the increasing threat from Samsung, and the Google Maps debacle, the author argued Apple deserved a seat at the ‘most damaged’ table.
L2’s Founder and NYU Stern Professor of Marketing Scott Galloway has a different take on Apple’s current status. In the video interview above, he explains why he considers Apple to be today’s most undervalued prestige brand. Acknowledging the Samsung threat, the iPhone’s delayed entry into China, and last week’s profit loss (the first in 10 years), Galloway explains why, despite all of its minor setbacks, the pessimism toward Apple as a company and as an investment is misguided.
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