In 2017, Apple was unofficially added to the FANG stocks - an acronym for the some of the highest-performing technology stocks in the market (Facebook, Amazon, Netflix, Google). More recently though, Apple has been outperforming the rest of the group and their stocks have vastly increased. This leads me to wonder what possibilities could cause Apple’s success.
Before I received an iPhone, I used to own an Android, and after my experiences with both types of phones, I would definitely choose Apple over Android largely due to how convenient Apple is. Airdrop between devices makes it so easy to share photos/other files, and sending a text message from my MacBook is super helpful and quick. This continuity between Apple devices appeals to many, but this may also be the reason of Apple’s success. This kind of integration between devices is only possible if you have multiple Apple products. Apple is able to benefit off of even just one individual if they buy multiple products. Even though Microsoft’s Surface Pro touch screen has many of its own benefits, or other kinds of products may be better than Apple in some way, I just feel compelled to stick with Apple because of the convenience.
Furthermore, some of Apple’s designs forces you to buy, for a lack of better word, complementary goods. After getting rid of the headphone jack in the iPhone 7 (and all models following the 7), they quickly created AirPods. Again, wireless headphones have existed before AirPods were invented, but due to the loyalty of many Apple customers, they buy the AirPods.
It seems to me that Apple’s success will only rise. Is there any product or company that could possibly outcompete Apple?
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I agree. Once you're in with Apple, you're in. Because it is so convenient to just have all your devices be Apple, there is no point in buying other brands. Additionally, going back to what we learned a month back, Apple is in the midst of creating a "brand." They create their products to form an emotional connection with an individual, which only makes the customer come back for more.
ReplyDeleteI was just thinking about the power that Apple had over its consumers. I have to disagree, as I do get frustrated with Apple products. I recognize that other options may be much better, such as Androids and the Pixel with all of their added benefits and technologies; however, I'm basically hooked with Apple. I don't know of many people who don't have iPhones, and if they don't, their phones are not compatible with Apple, so they can't Facetime others, AirDrop, AND their texts appear green. Apple has made many of their applications exclusive to Apple products, which makes it so much harder to escape since everyone has an iPhone. I definitely think Apple will continue to grow, as I think it will be difficult for any company to gain the brand power that Apple has built up.
ReplyDeleteI think the Apple Company is almost like a political party. Once you start using apple products, you are known as an "Apple User", and there is not a lot of wiggle room besides that. Agreeing with Justin, once you are in, you are in. I agree that Apple dominates the other phone companies because of reasons like convenience, however I feel as if there is almost a bigger motive to use these expensive Apple Products, because "everyone else" is using Apple Products. Ever since the early 2010s, there has been a stigma around Android users simply because it is not an iPhone. So is Apple's success really due to convenience? Or is it because we have just been adapted to THINK that Apple is better?
ReplyDeleteThe key difference between Apple and the other FANG companies is that Apple primarily deals in hardware. This gives it some unique advantages. For example, Apple may have an easier time with product placement advertising as its products are physical and easy to display. In addition, the expense for starting a rival company is much higher, and, as you said, it is easier to create integration between devices.
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