Sep 8, 2022
Titan’s Takeaway: Although today’s product launch is a reminder of Apple's insatiable thirst to innovate, the future of Apple’s business model will continue to be dependent on the company’s ability to innovate beyond the four corners of the iPhone screen.
Apple hosted its annual launch event on Wednesday while drawing millions of viewers, and giving the Apple team an opportunity to introduce their fall slate of products.
If you were tuned into the event, you saw a new iPhone that looks incredibly similar to the one you may be watching this video on right now. While we’re consistently impressed with the seemingly minor enhancements to the user experience that Apple unveils each year, outside of a few camera improvements and the impressive A16 Bionic chip powering the phone, most things stayed the same with the iPhone, including the price tag.
The lack of a price increase surprised many as input prices continue to be pushed higher, a result that may put pressure on the iPhone’s profit margin.
Having said that, Apple has been diversifying its product offerings for years. While the iPhone remains the company's main revenue driver, accounting for 52% of revenues in 2021, Apple is increasingly focused on its other business lines such as wearables and services to complement the iPhone's success. AirPods, for one, drove more revenue in 2021 than both Twitter and Spotify.
One of their major releases from the event Wednesday was the Smartwatch Series 8 and its counterpart the Apple Watch Ultra. While the $799 ultra watch is nearly the cost of a security deposit, the move speaks to a growing interest in the action sports arena and its intentions to merge lanes with Garmin, the current market leader in outdoor activity wearables. If there is anyone who can tap into Garmin’s $17 billion market cap, it's certainly Apple.
Although today’s product launch is a reminder of Apple's insatiable thirst to innovate, the future of Apple’s business model will continue to be dependent on the company’s ability to innovate beyond the four corners of the iPhone screen.
Cash Management
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