Haven't made a game changing device since Steve Jobs? The Apple Watch completely dominates that product category. There is no alternative that can even compare.
The entirety of "wearable, home, and accessories" amounted to 10.9% of revenue for the past quarter, which included Christmas, and 9.4% for all of fiscal 2019. In addition to the Apple Watch, that category includes Airpods, HomePod, Apple TV, Beats, iPod touch...
Just because you like the Apple Watch doesn't mean that it has changed the way the company does business. And the fact that Apple doesn't break out gross margin for this category tells us that they aren't particularly proud of that number. Gross margin on products as a whole is about 34%.
Apple wants to paint the picture that they are diversifying away from phones, which accounted for over 3/5 of their revenue this past quarter, and shifting toward services and other products.
But it's one thing to repeat a rosy narrative, and another entirely to back it up with financial statements. Apple is still a phone company, and if the Apple Watch really drove profits for them, they'd break "wearables" out to its own line item, or at least show us the gross margin for "wearable, home, and accessories."
The entirety of "wearable, home, and accessories" amounted to 10.9% of revenue for the past quarter, which included Christmas, and 9.4% for all of fiscal 2019. In addition to the Apple Watch, that category includes Airpods, HomePod, Apple TV, Beats, iPod touch...
The Apple Watch by itself is estimated to be larger than the iPod was at its peak. (http://www.asymco.com/2019/12/12/ipods-pro/) and the Airpods if they are not already larger than the iPod at its peak soon will be.
As far as the iPod Touch, the entire iPod line was less than 1.5 million a quarter when they stopped breaking out the numbers (years before they stopped reporting volumes of their other lines).
But the last time I checked, even a category that is only 10% of Apple's revenue still puts that category's revenue above all but the top 100 companies in the US.
The thing that blows my mind is that they only spend around $60k developing it. Steyer and Bloomberg have spent 400 million dollars combined on ads in South Carolina. Couldn't any of the several billionaires that support the Democrats have kicked down a couple hundred grand for this at least? Even Epstein randomly handed out 100k checks to profs at MIT. It's not that much money for these people.
Does anyone know if they hired out of work coal miners to work on the app? After all these are the same people telling everyone to learn to code when their job gets shipped overseas. If it was just some connected tech bros from elite schools making this thing, then this outcome is quite pathetic, but if it really was 50 year old miners who did a 12 week bootcamp, I'm more likely to cut them some slack.
Sorry man, but if you have to consciously try to behave differently, it's over. Forcing yourself to be authentic is by definition inauthentic. There is no escape, my friend.
