{"id":36070,"date":"2023-07-15T11:34:55","date_gmt":"2023-07-15T15:34:55","guid":{"rendered":"https:\/\/ifintechworld.com\/news\/apple-stock-rooting-for-another-decline-nasdaqaapl\/"},"modified":"2023-07-15T11:34:59","modified_gmt":"2023-07-15T15:34:59","slug":"apple-stock-rooting-for-another-decline-nasdaqaapl","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=36070","title":{"rendered":"Apple Stock: Rooting For Another Decline (NASDAQ:AAPL)"},"content":{"rendered":"
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The following segment was excerpted from this fund letter.<\/em><\/strong><\/p>\n

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Is There An App For That?<\/h2>\n

In January 2007 Steve Jobs introduced the iPhone at Macworld in San Francisco. At the time of that momentous day, Jobs had not planned for third-party developers to build native software applications ((apps)) for the iPhone\u2019s internal operating software (iOS). However, later that year, bowing to considerable pressure from the developer community, Jobs relented. When the second-generation iPhone (3G) was released in the summer of 2008, Apple announced the opening of the iPhone App Store at the same time. According to the Company in July 2009, after just the first 12 months since the launch of the App Store, 1.5 billion apps were downloaded from 65,000 apps from more than 100,000 developers from 77 countries.<\/span><\/p>\n

That early symbiotic relationship between the iPhone (hardware) and the App Store (software) completely redefined the utility of the iPhone (think Intel and Microsoft). Too bad American Express coined the phrase, <\/span>\u201cDon\u2019t<\/em> Leave<\/em> Home<\/em> Without<\/em> It.\u201d<\/em> That perfectly describes the utility of the modern iPhone. Heck, for years now, most of us won\u2019t walk from the kitchen to the garage without it.<\/span><\/p>\n

Those days bring back fond memories for us. We\u2019ve owned Apple stock since 2005. At the time of both launches of the iPhone in 2007 and the much-anticipated iPad in early 2010, we opined in our Client Letter that each device was so revolutionary that Time<\/em> magazine would award each device the \u201cInvention of the Year\u201d award. So, it was \u2013 they were both easy calls. Fast forward 15 years since the launch, and even a cursory retrospective of the App Store inspires awe at its enormity and influence of the App Store. Surely, there will be a lifetime achievement award in the App Store\u2019s near future.<\/p>\n

During the early years of the App Store, the growth of the App Store ecosystem was quite striking, but seen in retrospect of the current size, scale and scope of the ecosystem, those early year stats seem rather quaint.<\/p>\n

Here are a few more App Store data points released from the Company:<\/p>\n