SWOT Analysis of Apple Inc. | Apple SWOT Analysis
History About Apple Inc.
Apple is a corporation that Steve Jobs and Steve Wozniak founded at the beginning of the technology industry in Silicon Valley, California.
Apple started off as a small company until they could move on from their early products and expand their business beyond computers and into other industries such as music, video games, cell phones, movies, and electronics.
During the late 1980s and early 1990s, Apple expanded beyond computer products to include new brands such as iPod with music players. They also began to expand their business into other different spheres such as music and video games.
In 2000, Apple released the iPhone, which is the first success for the company, which made them one of the most successful companies that they are today. The next year was when their sales reached a new height with over $8 billion in sales. In 2012 alone, Apple sold about $156 billion worth of products worldwide and had about $215 billion in cash and short-term investments.
Apple can improve their performance through the interest that they receive because of the amount they are spending on their products and operating costs.
In its 2020 fiscal year, Apple posted a net income of 57.41 billion US dollars, the second-highest net income to date. In the same year, Apple’s global revenue grew to 274.52 billion US dollars.
They have a huge number of successful and appealing products from different parts of the world, and therefore there is a high demand for them.
One of the most successful products they have is their MacBooks, which are designed to be compatible with each other. They overcame the electronics industry by making computers and mobile phones that were very appealing and had a working solution for all of their problems.
They also have many other products such as iPhones, iPads, iPods, and Macs, which are other products they sell to expand their business.
They can improve their economy by developing brand new products that are more advanced than the previous ones. They can do this through their research and development division because they focus on improving the technology used in their products.
So far, they have been able to do this with great success, which is why their sales have been increasing every year since the creation of the iPhone.
Apple’s strengths are that they are able to develop new products faster than any other company in the industry. They have a unique and effective approach to their development, which is a reason for their ability to be more productive than anyone else in the industry.
They invest money into research and development, which allows them to produce extremely useful products such as iPhones, iPads, iPods, and Macs.
SWOT Analysis of Apple
Apple Inc. Strengths
–Apple is famous for being innovative and groundbreaking. It has come up with many breakthroughs in the tech industry, including the computer mouse, iPod, iPhone, iPad, which all helped to propel their growth.
Apple was also the first company to popularize the graphical user interface; they knew that people wanted something more intuitive than a command line, so they made a GUI, making it easier to use computers. These inventions helped Apple create a variety of products; that is why they have many patents holding up against competitors.
-Apple’s products are well-designed and thoughtfully packaged. Their packaging is so good that the logo on Macbook Pro even looks like a scroll. They do a great job at adding user experience to their designs by making their products look appealing and appealing to the eye by making them look like the real thing.
-Apple is highly integrated with other Apple products. If you buy a new Macbook, you can also sync your iPhones and iPad to it wirelessly. All of Apple’s products are compatible with each other, making each product better and more beneficial to own.
Weaknesses of Apple Inc.
-Apple is not always a good company. Many Apple companies are well known for being environmentally or socially harmful.
-Apple does not always do a good job of keeping their customers happy and satisfied. When the iPhone 4s came out, it was very clear that they had made a mistake by reducing the speed of the processors. The company went back to the drawing board and made a new processor after consumers heavily criticized them.
Apple is also notorious for not including features in their products that are common in competitor’s products even though their customers may want them. For example, the Apple TV was originally going to be able to run applications from Apps Store, but Apple didn’t think it was necessary and failed to include this feature in the product.
-Apple’s products are overpriced and may not even be worth it. Although most of their products are well designed, their prices are so high that tech lovers only value them. Apple should drop the prices of their products to a more reasonable price, so more people can afford to buy them.
Opportunities for Apple Inc.
-Apple can take advantage of the popularity of Apple products by marketing their products in other countries that do not have an Apple store yet, especially with China and India experiencing a booming economy. Since Asia is seeing a lot of growth right now with many new businesses forming and expanding, it will be easy for Apple to make money there.
-Apple can also benefit from the downfall of the PC market by making their computers appealing to a wider range of people. Since Apple is trying to appeal to a wider audience, they could lower their prices and make more affordable products.
Apple can take advantage of the new growth in Asia by branching out into China and India, especially because many schools and businesses open up there that did not previously have computers. With more computers being sold, Apple could finally begin making money in that part of the world.
-Their products are becoming cheaper and more affordable. As time goes on, Apple’s economy is booming, and as a result of this, they are now able to afford cheaper parts and lower prices so they can sell their products to a wider variety of people.
-Apple has the advantage of being able to reach new heights in other places such as Asia and Europe. With the growth of their economy, they can develop unique and more appealing products to people in other places.
Apple can make more products that are compatible with each other, such as smartphones, tablets, and computers, which will help them get more popular in other areas. They can do this because of their knowledge in software and hardware development due to all of the success they have had over the years.
-As time goes on, Apple is able to reach new heights through its core customers. New economies are growing due to the global demand for Apple products, which is why people are willing to pay more for them.
Threats for Apple Inc.
-Apple’s biggest competitors are Samsung, Microsoft, and RIM. (Blackberry) With more people turning to cheap alternatives like Blackberry and Android through Verizon and AT&T, Apple could lose a lot of market share in the mobile sector.
Since the App Store is Android’s biggest incentive, it would be a good idea for Apple to try to compete with them by having their own App Store in order to prevent customers from turning away from their products.
-Apple has a very small market share in Asia and Europe. By branching out into these places, Apple can start selling more products. This can also be a threat because if Apple doesn’t make it to the top in these markets, they could lose even more market share.
-A part of the reason Apple is struggling now is because of the market’s demand for devices that aren’t Apple products. It would be most beneficial for Apple if they could get as many people as possible to see the benefits of their products, but, in addition to that, they should also strive to catch up with other company’s products. Due to this new demand for non-Apple products, most of their customer base has been significantly reduced, which has caused their sales to drop.
–Apple products are expensive. Their products are overpriced for the quality of work that they provide. The simple but sleek design of Apple’s computers and phones may attract some people initially. Still, when the customer gets a chance to try other brands at a lower price, they will no longer consider Apple, so they always focus on innovation instead of lowering their prices.
-Apple doesn’t have much muscle in Asia and Europe. As a result of this, they are continually losing market share.
-Apple has been slow to adapt to the new technology being used in the phone industry. New technologies such as 5G are now being used in cell phones across the world. Apple has not been quick enough to change their products and make them faster and easier to use, which could be bad for them.