That move was prescient. Today, the iPhone accounts for 60% of Apple’s revenue and in its last quarter, with sales down, AAPL still sold over 45 million units. With its stock propelled by massive, high-margin iPhone sales, Apple became the world’s most valuable company — a ranking it traded back and forth with Alphabet Inc (NASDAQ:GOOGL) multiple times over the past year.
Apple Looks to the iPhone 8
You can expect AAPL to continue making a big deal about the iPhone’s 10th anniversary through 2017. The company is coming into the year on a low note. iPhone sales are sliding, and it closed out 2016 with a cloud of negative PR over iPhone 6 battery issues and poor reception of its new MacBook Pro.
CEO Tim Cook even had his compensation cut as AAPL missed performance targets.
The company is looking to an all-new iPhone 8 to boost sales back to record levels. And you can bet it will leverage iPhone nostalgia at every step in an effort to bring back those days of line-ups camped outside Apple stores for days before a new release.
In the year the iPhone turns 10, Apple will be looking forward — but also counting on all of us to take a look back.
As of this writing, Brad Moon did not hold a position in any of the aforementioned securities.