This Is Apple’s World, We Just Shop In It
As the world teeters on another global economic crisis, Apple is secure in its position as the world’s most powerful company. With a record-breaking $245 billion cash reserve. That is equivalent to a small country’s GDP.
Nothing happens by accident. Apple has amassed that fortune by being a market share leader in cell phone sales for years. As that segment has started slowing in sales, they have branched out into wearables like the popular Air Pods and Apple Watches. But no line of business has seen such extraordinary growth as the services line.
One way Apple has kept the money flowing in is by becoming indispensable. When it was just iPods and iPhones were in their infancy, Apple launched iTunes. That was to keep money within the Apple ecosystem and not allow third-parties to profit much from their hard work.
As iPhones and technology have become more sophisticated, so too has the services offered. Apple now has its own streaming network, music streaming service, and arcade! While none of these services would be successful or profitable on their own, they are helping fuel the need for newer devices.
And the service sector of Apple is helping keep the cash flowing within the company. Their latest move, launching the Apple credit card is the latest move by them to establish themselves as the predominant force in the world.
It’s not enough for us to be addicted to Apple products, we need to be indebted to them. And it’s working. Sources say credit applications nearly brought down the Internet at the flagship store on Fifth Avenue in New York City. Sales that day flew over the goal they had set.
And Apple became a bit cash richer on their way to taking over the world.
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