Apple holds a distinct position in the tech industry.
I’ve attended a lot of Apple events, both electronically and in person, and one thing that consistently raises an eyebrow among us journalists is the enthusiastic applause and shouting from the crowd whenever a new feature—regardless of how minor or incremental—is revealed.
When a new hardware product is released, Apple personnel set up a guard of honor outside of their stores to cheer on the first customers who purchase it. Some of these customers may have waited hours in line and paid thousands of dollars (who else could afford that?).
Apple described it as a “magical experience” or “strange drug” in a statement on Thursday, and it is now the subject of criticism.
Apple’s ethos has proven to be a very effective business model thus far. The company is valued at $2.6 trillion, as I wrote.
According to analysis firm Insight, iPhones accounted for 72% of smartphone devices purchased in North America alone in the final three months of 2023. With Samsung taking up 25% of the handset market, only 3% remained for the other players.
Apple’s emphasis on security and privacy is one of its main selling points. However, it remains to be seen if this is accomplished by keeping out the competition.
