Is Apple iPhoning the Finance Industry?
Apple (NASDAQ: AAPL) is no stranger to redefining a product by packaging it in a new, sleek, and shiny design. The iPhone and the iPod before it were not the first in their respective consumer electronics categories. However, both devices pushed the limits of what was possible from a smartphone and music player, and their popularity has made Apple into arguably the most successful electronics hardware provider ever.
In recent years, Apple has pivoted to a more service-oriented business. The App Store, a healthcare segment tied to the Watch, Apple TV (as well as the soon-to-be-launched Apple TV+ streaming service), and Apple Pay are leading the charge for the double-digit growth segment. A new product extension of Apple Pay, Apple Card, is getting a lot of attention, including the typical Apple treatment as a game-changing product entry just like the iPhone was. However, the new credit card probably won't be the same kind of game changer.
Image source: Apple
Source Fool.com
