Apple Inc. (NASDAQ:AAPL) Wants To Make Apple Watch An Incredible Health Accessory

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Apple Inc. (NASDAQ:AAPL) has figured out that the future of Apple Watch is in the healthcare market. At a recent startup event in Europe, Apple’s CEO, Tim Cook, described the role he envisioned Apple Watch will play in healthcare industry in the not-so-distant future. It is worth pointing out that Cook has been on a global tour in the recent weeks, stopping in India where he announced plans to set up a local Apple mapping office.

For some, Cook’s global tour is designed to sooth dissatisfied investors following the company’s disastrous F2Q2016. Apple’s sales pulled back 13% and iPhone shipments dropped 16% in the latest quarter. A confluence of unfavorable factors including global economic slowdown in intense competition in the premium smartphone market was blamed for the poor results.

Will Apple find redemption in Apple Watch?

The fact that Apple Inc. (NASDAQ:AAPL) relies heavily on iPhone sales for its revenues is one major cause for concern given that the smartphone market has been shrinking in the recent years. It is no wonder that Apple executives have been trying to show that Apple has got life outside the iPhone and that other life is made up of products such as the Apple Watch.

Apple Watch in healthcare

The original Apple Watch sits somewhere between a health gadget and fashion device, but if Cook’s comment in Europe is anything to go by, the future Watch will be more of a healthcare accessory. According to Apple Inc. (NASDAQ:AAPL), the Apple Watch could in the future warn wearers if something isn’t right about their health so that they can seek medical attention in good time. Cook compared it the way cars are able to indicate to the driver when the car is low on gas so that they can stop at the next gas station to refuel for their journey.

But expanding in the healthcare market would see Apple come into more direct competition with another high flying fitness wearable maker – Fitbit Inc (NYSE:FIT).

Apple Inc. (NASDAQ:AAPL) is expected to launch the second-generation of Apple Watch in June.

Neha Gupta

Neha Gupta has been in the financial space for over six years now. Gupta earned her MBA degree from Symbiosis Centre of Distance Learning in 2009 and her passion for finance led her to pursue Chartered Financial Analyst (CFA) course. She has successfully completed Level II of her CFA. She is a veteran in article writing, which is depicted in her numerous pieces published on SeekingAlpha, Nextiphonenews, InsiderMonkey, MarketWatch, and Techinsider. Her crisp and eloquent writing finds its best place in Researchcows, where emphasis is given on developing rich content for various websites, products, business plans, trainings, and book writing.

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