Once the undisputed tech darling of Wall Street, Apple (AAPL), the creator of the most revolutionary product ever, the iPhone, has come under a lot of scrutiny over the last year. The biggest question mark regarding Apple is whether or not the company still has the ability to innovate and change the world as it has managed to do time and time again in the past.
After the passing of the company’s founder and visionary leader, Steve Jobs, questions immediately began to surface about the future of the company. In the years since Mr. Jobs’ death, the company has not quite been able to push the envelope as it once was able to do, with the only real new product being Apple Watch.
Wearable technology was a huge buzz word a few years ago, but so far it has yet to really capture the world as was previously expected. Google (GOOGL) failed with Google Glass, and Apple has not exactly had a blockbuster hit on its hand with Apple Watch.
Not only has Apple Watch failed to deliver the breakout product that Apple really needs, iPhone sales have started to slow, which is the real financial problem that Apple has to address. The iPhone accounts for roughly 70% of Apple’s total annual revenues, so its importance cannot be understated.
The stock took a pretty big hit following the company’s most recent quarterly report, with results missing on both the top and bottom line. The report sent shares crashing, and while the stock has begun to recover, as Wall Street opted to look at the reality of the figures. Apple reported $10 billion in profit on $50.6 billion in revenue. Those numbers are huge, and while Wall Street wanted more, there is no denying the strength of those figures.
Innovation remains the primary concern regarding Apple under CEO Tim Cook, so there is a lot riding on any event the company holds.
This week the company is hosting its annual Worldwide Developers Conference (WWDC). While there has not been any earth-shattering announcements, there have been a few notable announcements, and we want to take a look at five of the top announcements made so far.