No. of Recommendations: 1
Apple Turns 50. The iPhone Can’t Drive Things Forever.
Apple worked hard over the last 50 years to become one of the most successful companies of all time. The iPhone maker will have to work even harder to maintain that dominant position over the next 50 years as it marks its half-century today.
• It isn’t clear what the future holds as technology rapidly evolves, but it’s probably a safe bet to assume that the future will include Apple and some iteration of the iPhone—an iPhone 68? But the tech giant needs to expand outside of that pattern to prove to Wall Street it can continue to dominate.
• As it turns 50, it’s worth looking back. Apple was formed in 1976 by Steve Jobs, Steve Wozniak, and Ronald Wayne. Over the next several decades, its era-defining products included the Macintosh computer in 1984, the iPod in 2001, the iPhone in 2007. It’s Apple’s most important product to date.
• The touch screen smartphone transformed consumers, who could access texting, calling, searching the web on a browser, playing games, and listening to music all in one hand-held device. The catchphrase “I’ve got an app for that,” eventually highlighted the importance of iPhone applications.
• Apple has launched multiple gadgets that have become household names—it did it most recently with the Apple Watch in 2015. Each device integrates with another, incentivizing the user to buy more than one Apple product after entering the company’s sticky ecosystem.
What’s Next: A new lineup of Apple products is on the horizon, such as a foldable iPhone, a touch screen MacBook, and smart glasses. But investors are wondering if Apple can have another iPhone innovation moment that will keep the company in a dominant position.
—Angela Palumbo
