Peter Thiel says the age of Apple is over

Silicon Valley investor and Donald Trump transition team member Peter Thiel says Apple is past its peak.

Here’s what he said in a Q&A with Maureen Dowd of The New York Times when he was asked to confirm or deny that “the age of Apple is over.”:

“Confirm. We know what a smartphone looks like and does. It’s not the fault of Tim Cook, but it’s not an area where there will be any more innovation.”

Thiel is most famous in Silicon Valley for his early investment in Facebook. He also sits on Facebooks board and was the co-founder of the secretive data analytics company Palantir.

Apple did have a disappointing 2016 by the company’s standards, with iPhone sales falling for the first time ever.

Read the entire Q&A with Thiel over at The New York Times.

NOW WATCH: Forget the iPhone 7 — here are 11 reasons the next iPhone will blow everyone away

NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.