Why This FDA Approval Could Be a Huge Deal for Apple

Why This FDA Approval Could Be a Huge Deal for Apple

When Apple Inc. (NASDAQ: AAPL) released the Apple Watch Series 3 earlier this year, the company's aspirations in the field of health became increasingly clear. The Apple Watch was described as "an amazing health and fitness companion" and "the ultimate device for a healthy life."

Several other recent developments point toward a broader entry into personal health, and there's mounting evidence that this could be Apple's next big growth area.

The U.S. Food and Drug Administration (FDA) has approved the first medical device accessory for the Apple Watch, the KardiaBand electrocardiogram (EKG) reader by med-tech start-up AliveCor. The KardiaBand replaces the original watchband and combines a sensor with an artificial intelligence (AI) app that can detect an abnormal heart rhythm or atrial fibrillation (AFib). This could be the first step of potentially a massive opportunity for the iPhone maker -- the healthcare market.

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Source: Fool.com