It is widely expected that there’s going to be a launch event at the Steve Jobs Theater at Apple’s headquarters on March 25. But don’t be expecting a revolutionary new product like the iPhone or iPad or the iWatch. Instead, it is expecting to be the launch of its video streaming and news services. Apple has invested roughly $1 billion in producing original content for its Netflix-style streaming service with at least 25 original shows such as dramas, comedies, docu-series and kids’ programming. The company has reportedly already invited a few celebrities including Reese Witherspoon, Jennifer Aniston and Jennifer Garner to attend. And, there will likely be a ho-hum next iteration of earbuds or airpods, ipads etc. and maybe an iOS update.

The big question on Apple among investors is – Does it still have its mojo? And the March event is unlikely to answer that question affirmatively.

Future Wealth’s View

Steve Jobs mastered the art of creating, presenting and captivating Apple investors and the public at large by concluding these March events with his signature “And, one more thing”, before introducing a product that turned the tables on norms and the competition. Since his demise, Apple has simply not been Apple. While TIm Cook has the unenviable role of filling his shoes, one wonders why Apple has not produced a “new” product ever since he stepped up to run the company.

Microsoft, on the other hand, under Satya Nadella has completely reinvented itself from the miserable years of stagnation under Steve Ballmer, and has become a powerhouse in cloud computing. IBM, went through a similar transformation under Gerstner, who undertook the task of converting the company from an aging behemoth to a nimble services business. Maybe, just maybe, Cook at Apple could, over time, transform the company to something similarly successful.

But, investors are unlikely to wait for that “something” and would rather invest in the another company whose CEO walks up to the mike and says the equivalent of  “And, one more thing…”