Gene Munster, the managing partner of Deepwater Asset Management, has drawn parallels between the burgeoning rivalry between Meta Platforms Inc. (NASDAQ:META) and Apple Inc. (NASDAQ:AAPL) over AR/VR headsets and the ill-fated competition between Blackberry Ltd (NYSE:BB) and Apple in the smartphone market in 2007.
What Happened: Munster took to X, formerly Twitter, and referenced a Wall Street Journal article on Meta's readiness to take on Apple in the headset war.
He evoked memories of 2007 when Blackberry “welcomed” Apple to the smartphone market, suggesting a similar fate might befall Meta in its quest to compete with Apple’s advancing technologies.
“I believe history will repeat itself,” he said.