Apple Inc. AAPL 0.42% is trying to make a big change to its business model to make up for a saturating iPhone market. According to Global Equities Research’s Trip Chowdhry, that transition involves creating a unique ecosystem for each of the company’s devices.
“Apple is pivoting to becoming a Subscription based Software company,” Chowdhry explained after attending day one of Apple’s annual developer conference on Monday.
Chowdhry says that the new Apple ecosystem revolves around its Swift programming language. Apple’s App Store now has 2 million apps and 130 billion downloads. To date, the company has paid $50 billion to its developers.
TvOS has 6,000 native apps and 1,300 channels, iCloud Drive now holds 10 billion documents, Siri services 2 billion requests per week and Apple Music has 15 million paid subscribers. Apple is no longer all about hardware.
According to Chowdhry, there were four major takeaways from day one of WWDC:
- 1. OS X will be rebranded to macOS and the next version will be called macOS Sierra.
- 2. WatchOS 3 is…
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