While industry sages prognosticated the diminishing relevance of the tablet device category for the past three years as iPad and tablet sales slowed, Apple quietly amassed an installed base of over 400 million active iPads thanks to extended iOS device support. The newly announced iPad Pro is poised to bring about an inflection point in personal computing by changing the way we think of portable computing.
When the latest series of iPhones are released, we love to see how they measure up to the competition. The comparative evaluations are typically based on specs – number of cores, processor clock speed, RAM, removable storage – and increasingly on performance benchmark scores. But what about the value that customers receive over the life of the device. iOS 12 is enabling Apple to do something no other mobile device manufacturer is remotely able to do – keep your six-year old iPhone up to date and relevant.
Yesterday, Apple hit a major valuation milestone becoming the first $1 trillion public company. Many Wall Street analysts and market pundits are calling it an important milestone. Well, apparently Tim Cook doesn’t think so. But it is a time to reflect on how the investor community and Wall Street have gotten Apple wrong consistently for quite some time. And they continue to get Apple wrong as they continue to characterize Apple as an iPhone company or a consumer product company, or a hardware company.