Apple Products by Jordan Blaser
Apple products are one of the most well known products around and people are willing to do anything to get the latest phone or other product. With apple being so popular, the company makes a huge amount of money daily. According to Apple and the American Economy, “Here we have a company that's been phenomenally successful, making products people love and directly creating nearly 50,000 American jobs.” The products and jobs created have boosted America’s economy greatly. Giving 50,000 people jobs improves the unemployment rate which is directly correlated with America’s economy.
Technology is something that is always changing and as Apple creates new and improved products, people are willing to pay anything for the latest device. Apple is one of the leading companies in the World and the money it bring into the economy is extremely large. According to CNN Money, “Apple has more than $76 billion in cash and marketable securities on its balance sheet.” 
Clearly from this graph we can see Apples income only increased greatly over the year but, even though Apple brings in a lot of money sooner or later the economy is going to rely on it. Unfortunately, one mistake, not only will the company suffer but the economy will decline. Depending on huge companies like Apple is a risk worth taking but extremely dangerous. According to Apple’s Effect On the Economy, “Apple may be a big source where the economy gets some extra money from, but if everyone becomes dependent, it could be a long term loss if they company starts going bad. Some types of dependence is good too, Apple makes a lot of money, and the logical step would be to support Apple and rely on it to make the economy better, because it can help with the number of consumers it has.” In the end, the economy depending on this company can be dangerous even when there are numerous positive aspects as well.
Without Apple, the economy would still be slowly recovering from the recession. Not only would the economy be in a different place but also the employment rate and the world of technology. All these aspects affect our countries economy in many different ways. According to Why America Needs Apple, “In the fourth quarter Apple gave the S&P 500 a significant boost: S&P 500 companies grew at about 6% year over year. If you take Apple out of that equation, the growth would drop to 3%.” Without this company, the growth of America would be much slower.
Relying on Apple Inc. to improve the economy is a great risk. Putting pressure on the company to continue to create new and improved technology that people will buy is a risk worth taking. In the end, America would not be where it is today without Apple.
Works Cited
"Apple and the American economy." The Economist. The Economist Newspaper, 23 Jan. 2012. Web. 3 Mar. 2014. <http://www.economist.com/blogs/freeexchange/2012/01/supply-chains>.
Bajarin, Ben. "Why America Needs Apple." Time. Time, n.d. Web. 3 Mar. 2014. <http://techland.time.com/2012/04/02/why-america-needs-apple/>.
Monica, Paul. "Apple has $76 BILLION in cash. Still no dividend?-- The Buzz." CNNMoney. Cable News Network, 15 Sept. 2011. Web. 3 Mar. 2014. <http://money.cnn.com/2011/09/15/technology/thebuzz/>.
I really liked this blog post, well done! It is insane to think how much people will spend just to say they have the newest apple product, it has become an obsession for American society. This is very relevant to what we were discussing in Model UN the other day after we had started talking about impoverished countries in our world. By being obsessed with getting the newest apple product and helping our economy, we are also helping the economies of third world countries where children work to make parts that make that phone. By purchasing these items we are essentially providing food and schooling for a child working on the other side of the world. Ultimately, this exchange gives us the product we want and improves third world countries poverty levels by giving children jobs to help support their family.
ReplyDeleteI don't really think we rely on Apple as much as you said. Since you didn't provide any proof, I'm not convinced. The U.S. Economy is very large, with millions of companies factoring, including tech giants other than Apple, Microsoft, Dell, IBM, Intel. Other giants in different markets include GE, Boeing, Pratt & Whitney. Not to mention the other smaller, local businesses, such as, Harken or Quad Graphics. The supposed dependency on Apple is not as large as we might think. That's not to say that there would be no effect on the economy, however it would not be solely based on Apple. The collapse of Apple would probably be followed by other tech giants, assuming a collapse of the tech market. This would take a huge chunk out of the economy, not from the crash of apple, but the crash of a large amount of tech giants.
ReplyDeleteThis is a good post. I know that Apple is one of the bigger companies out there, and that so many people do rely on their products. Plenty of my friends have iPhone's and most of them get the newest one right away. I also know that this causes a lot of money to get thrown into the economy, helping it to recover. However, it's never good when one company is relied on too much, there needs to be another company that at least comes close to rivaling Apple, so that if they do crash, the economy hopefully won't follow.
ReplyDeleteI know that Apple is a large and leading company all over the world, however I had no idea that our company relies so heavily on it. It's crazy to think that most of the growth of our economy is due to one company, which is also why it's so incredibly dangerous. Although I don't believe that Apple is going to go bad, I do think that we need to spread our eggs into different baskets and not rely on them so heavily. I mean without Apple the S&P 500 would have half as much growth as it does now, which is very risky.
ReplyDeleteI liked you're post! It's crazy to know that our economy pretty much depends on Apple's success. What would our economy do if Apple started doing poorly? I don't think it's good that our economy completely depends on a company because things change a lot especially in today's society and if another company started doing better than apple then our economy would start going down the tubes. If a different company started doing better than Apple could we eventually start depending on them? Or would it not work out the same as Apple. Will our economy always depend on the success of companies? It defiantly something to think about.
ReplyDeleteI must question the statistic that apple accounted for half the growth of the economy during any given year. I could very well be mistaken, but that seems astronomically unlikely. Though their technical specs aren't incredible, apple products are marketed incredibly and at exorbitant profits, so the economic impact they have is admirable indeed. Nicely written article.
ReplyDeleteI would have to agree with you Sean. Even though Apple does improve America’s economy, it is unlikely that the impact was that high. The demand for Apple products is very high and much on the increase, but even with that I don’t think the economy could have been impacted that greatly. You gave some great statistics and it was a well written article.
DeleteThe article sparked my interest, but I have to agree with Sean by questioning the statistic being just a bit unbelievable. Although, it is great that America has a company like this that branches out and sells products all over the world. It seems as if I see more people with iPhones everyday. It looks as though the demand for Apple products is going through the roof; therefore they are able to supply more around the world. This does wonders for the American economy, but I have to doubt it’s half of its revenue.
DeleteApple makes outstanding products. Apple is obviously an extremely successful company. But just like Nintendo, it has come and it will eventually fall. Like any company, it will fall. Now, with that said, Wal-Mart has suffered its fair share from time to time yet through it all, America and the world continued to realize its value which in turn brought it back to "glory." If we stay dependent of Apple, the same could happen - we start investing more and more and eventually it's making more than luxury phones and iPads - it's working on super technology that furthers other understandings of technology that can get us ahead in other parts of the world. If Apple stays in it's bubble of just phones and pads, it will most likely fall. But just like Wal-Mart, if it can expand what it makes and sells, it will continue to prosper and bring money to our economy.
ReplyDeleteScott you are right about them needing to make more products to really prosper to their maximum potential, but Apple already does have a large hand on the computer and laptop market as well as the mobile device market. While they may rise and fall, their raising's would still be greater. Their products are top of the line and other companies copy them, and look at their products for ideas. Their supply is also always readily available for the high demand on their products. Apple should be alright for at least a few decades.
DeleteAh yes, Apple. Ever since this company had started, it had been on the road to success. Marking the release of the first iPhone back in 2007, it has truly changed not only the tech industry, but the economy as well. This is all the work of Apple’s brilliant marketing strategy to make you buy their products each year. It is inevitable that people will want to buy the latest Apple product. I did not know that Apple had such a large part in the economy that if it were to fall, the economy would drastically fall as well. 3% seems small, but it counts for a major loss. I believe the likes of Apple’s main competitors like Samsung and Google would help out with the economy as these companies are close to, if not bigger than Apple.
ReplyDeleteI like this article! Apple has been huge since it first started and I think it's safe to say that a majority of America relies on these pocket-sized computers to get them through life. Their strategies are brilliant and have people wanting the next big thing even though it's not due for a few months. I knew that Apple was a huge part of the economy and that if it ever crashed the aftermath would be devastating for our economy. I did not know that it was only 3% though. That seems super small but, it the long run I suppose it counts for alot.
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ReplyDeleteThis is a very interesting topic. I never knew Apple was depended on so much. I always knew it was such a big company but not that big. The demand is very high for Apple which is good for them, but I don't think it's the best thing that we rely on it so much. It's amazing how much stuff they came up with and how technology is a huge impact, and how everyone today needs the new fashion.
ReplyDeleteI never realized how much America's economy depends on Apple. It is honestly insane! I never realized that if Apple were to suddenly crash..most of our economy would too...I have also never realized that Apple gave 50,000 people jobs. That would be a lot of money! To have that many people working for your company nationwide. And it is awesome that since Apple gave these 50,000 people a job, that the unemployment rate went up. This whole situation truly shows just how sort of bad our economy really is. If we are depending on one company. It's crazy to think about. What would things actually be like if Apple was never produced? What would happen if there were no Iphones? What would our economy truly be like and what would we be depending on? It's crazy...
ReplyDeleteThe world of Apple has expanded dramatically to a point where other companies follow every move that Apple makes. If the company creates the “iPad”, Microsoft made the “Tablet”. If Apple creates the well known “iPhone”, Samsung creates the “Galaxy” to try to stay in the competition. This being said though, Apple wasn’t always in high demand. Steve Jobs, the founder of Apple, left the company in 1985 causing a dramatic drop in sales. When he returned in 1996, creating a new logo, making a deal with Microsoft and eventually creating the iPod, the whole company escalated becoming one of the 5 wealthiest companies in the world.
ReplyDeleteWell done! It makes sense that apple is responsible for such a large impact on the economy. They produce a very intelligent product that helps people with their everyday lives. Many people would be lost without phone in hand. But I wonder if it is about the brand for many? It’s the same as buying expensive clothes and cars they are nice to have but do they always perform as well other cheaper products. Performance or not Apple sure knows how to market their products and the evolution of their devices has sure benefited America’s economy greatly. If more companies marketed like Apple they too would be successful, but I advise people before purchasing products sure they are getting the best product and not just buying name brand product.
ReplyDeleteI believe a lot of Apple's success also comes from their advertising and imaging. Consumers have a higher demand for convenience, and Apple capitalizes on this by providing a standard product which is easy to use, and hyping it up; they almost have a kind of cult following. Sometimes advertising can be costly and unproductive, but in Apple's case, the marginal cost of their schemes creates a ripple effect to notify a lot of people about the product.
ReplyDeleteWhile I have no doubt that a large company like Apple would have a great effect on the economy. I don't believe that the impact of the company could be that obvious. I say this in consideration to the fact that the main marketable products of Apple are their computers and phones. In both of these categories, they have extremely powerful competitors such as Microsoft and Android, respectively. In addition to this, if Apple had accounted for half of the total growth in the United States in any given year, it would have shot their stock prices up as investors look at annual earnings for every company to help in the decision on which stock to buy. I have personally been analyzing the trends in Apple's stocks and although they have been doing relatively successfully (if you discount the $200 drop in prices that occurred last year), they haven't made such huge leaps that it could affect the economy to that extent.
ReplyDeleteI agree completely with you Jordan, although right now while the company is doing good, the economy nor should people solely rely on the money that this company or that company is making why, because our country's economy will crash if this company happens to crash or starts to do bad. So in few ways this is a good idea, but in the long run it is a terrible idea, i can understand if America's economy was in such a position where they had no other option other than to feed off a rising company's wealth. Not only is Apple bringing in vast amounts of revenue, but also many job opening that will fix our economy while, at the same time our economy is trying to recover on it's own. Either way i think if we not just focus on one company but many in turn we will be on a good track to recover.
ReplyDeleteI agree completely with this. Yes apple is doing good right now but as soon as the next best thing comes out from a different company apple may go down. I know many people who have switched from their Iphones to the Galaxy S4. I never knew that apple made that much money or even that they had that many job openings. But also, if Apple goes down then that many people are losing their jobs. I don't think we should depend so much on one company
ReplyDeleteI dont believe that Apple will take a great fall to any company. Apple always is coming out with the next best thing in the world of electronics. Their products stand out from the others and I believe that they will keep being the top company and creating more and more suprieor products.
ReplyDeleteCool post showing the importance of large companies in our economies! While the company has had an astronomical effect on our economy with jobs and technological advancements, I'd argue that they are too focused on marketing for me to count them as a long-run positive contributor to our economy. Apple does whatever it can to make its products in high demand always bringing in revenue. This can be seen in the vast similarity among their products. As it seems, they have really only been improving their own product rather than bettering the technological world. With 600 million devices sold, and 50 billion apps downloaded from the app store (and counting), it is obvious that they have had severe impact on household income. Between upgrading devices, paying for data rates and plans from 3rd party providers, and purchasing apps on the app store, a single person could easily drop $1,000 into Apple's pocket in a year. Imagine if the government gave that sort of tax cut. They'd be paying us. In conclusion, while they have lifted the economy significantly, they have, in doing so, shoved themselves to the center of our society, and more or less created a point of vulnerability for our economy. So great job Apple for turning obsessive consumerism into economic growth!
ReplyDeleteThe subject of Apple's use in corporate America is really an interesting topic. I agreed with many aspects of your post, although it's debatable as to whether or not Apple will relieve the harsh effects of our current economy since most if not all of their manufacturing base seems to be set in Asia. Still, we have no way of knowing when people will stop buying apple products or for what reason. Dependence on Apple could easily be seen as a mistake from certain perspectives, but for the time being Apple is in the black. From what I gather, this won't be changing any time soon.
ReplyDeleteIt's crazy to think how far apple has come over the years. People may not know, but the company was actually created back in 1976 but it didn't get as popular until the past few years. I remember my family and I used to have a Microsoft computer at home along with Microsoft laptops. Now, my whole family has switched to Apple and those are the only products we use. All of us have i phones, Mac books, i pads, and a regular Mac Computer just so that everything is easier for us to use. I wonder what would happen if something bad happened to the company and how all of the apple users in the world would react. It would be pretty tragic since I know a lot of people rely on Apple like my family does.
ReplyDeleteI am curious about what has driven Apple to be the 'best' thing that we can get, why do we chose Iphones over androids? Is it their marketing or their name? Why do us Americans enjoy them so much? I also was quite fascinated that Apple created that many jobs, but with how much they are needing to produce I believe it! I am curious, how much did the Apple stock cost 5 years ago and what is it at now? But even with their job opportunities and revenue that they bring in I find it extremely stupid to rely on a company to raise your economy. What would we do if a company from Mexico produces the same thing but cheaper, more efficiently? We'd be screwed.
ReplyDeleteI never realized how much the nation was dependent on apple. I know many people that are dependent on apple for things like their laptops, phones, and music. It is weird how many people will go out and spend some of their money on the newest iPhone even if the only change is something as simple as an extra 1/2 inch of screen. People do spend too much money on this sometime which will help the company in the long run. Their old phone may have no problems but they NEED the newest model. I agree with John that it is quite stupid to rely on a company for all of our growth but I do think that this has helped us get out of recession which has helped and now that we are not in a recession we can rely less on Apple.
ReplyDeleteI didn't realize that so much of the recession was helped by Apple products and employment. I feel as though people have such strong preferences of liking Apple or not don't realize that if people continued to support Apple, that the US's economy could continue improving. The positive externalities created from the production of Apple phones, laptops, etc. is a great benefit and should continue as it is off-setting some costs. Although people don't need to have the best and newest products from Apple, it does help the economy.
ReplyDeleteI think it's very important to consider the negative consequences that can come from Apple. Although, in the true fashion of American consumerism, Apple is a staple in our culture it has the potentially to harm the economy greatly. As long as Apple continues to manage their wealth and continue with innovation they will stimulate the economy, however the possibility of their economic downfall poses a huge risk to the entire U.S. economy and possibly foreign economies. Your evidence provides substantial warning in buying into Apple as a country as a whole. We as a country should also be wary of the ability Apple possesses to create a monopoly. Similar to the sunglasses industry, Apple could potentially dominate the market in any and all aspects of the electronics. Therefore, while acknowledging the stimulus Apple currently provides, we should not allow ourselves total security as the economy could easily be affected.
ReplyDeleteClearly in the technological sector Apple has a great deal of importance and power as stated. However, in the grand scheme of things Apple is one of many fortune 500 companies that the U.S. economy rely's on and its economic impact although may seem extensive is only a small piece of the puzzle. Technological giants like Microsoft and Dell do exist, making sure that Apple will never have a monopoly on the market and preserving safety for investors.
ReplyDeleteYou are right technology is always improving and apple has made many things. There is a home that is called iHome and it is still to come. It is though a house that if you were to send it a text message it would understand and do what you told it to do. For example you wake up in the morning and you text it good morning the house will respond to it and then start playing music and brewing coffee, that is only if you tell it to when you text it that. Technology has come a long way in the past 100 years.
ReplyDeleteYou make some very good points concerning with Apple's potential to fail as soon as the next best thing comes out. I believe that Apple has enough money and resources to stay ahead of the curve. I think that Apple will be a powerhouse company for many years to come. As long as they keep producing the products people want, then they'll be around forever.
ReplyDeleteIt is very important that you mentioned the negative impact that Apple does hold on Americans because many people do invest ridiculous amounts of unnecessary money on products that they could find in a similar form for cheaper (guilty) but the name brand and convenience of Apple technology makes it difficult to chose any other option. It's quite interesting the extreme the company went to and the effect that it had on the recession in the US- who would've thought electronic products could have such an impact? With all of the buzz about Apple, unfortunately, other phone and computer companies have been left respectively behind their success. Many American's who are in money trouble do to ridiculous consumption of Apple products may find it useful to invest in products with less demand for they are priced at less of a cost.
ReplyDeleteApple has been a really successful company because they have created so many innovative products. They invented the primary alternative to the PC, revolutionized the portable music industry, and made the smartphone popular, in addition to changing the way that we download music and apps. However, Apple hasn't come up with a new product in several years now, that last major thing they came out with was the iPad, and that's just a bigger iPhone that doesn't make calls. Many people are losing faith in Apple because they haven't seemed to have done much since Steve Jobs died, and people are wondering if they have the ability to come up with another revolutionary product.
ReplyDeleteIn my opinion apple has become such a big company because of how they advertise their products, along with their invitations. Every apple commercial you see is always so sleek and simple that it makes you want to be a part of a company that is different then the rest. Even the simple button layout that almost all keyboards have isn't good enough for apple because they strive to be unique and people love to feel different.
ReplyDeleteApple is a huge company that has been very successful for years. Many people resort to buying apple products vs. other products that can do the exact same thing for cheaper, simply for the name brand of what they are buying. Just the apple name pushes the cost, want and demand way up. I like how you incorporated the negative effects that apple has aside from a lot of the good it has brought america. i do strongly agree that america and america economy would not be the same without this company and its success.
ReplyDeleteBecause of how technologically advanced Apple has become, they have become maybe the most popular companies in the world. They were really the first company that created a true smartphone, and because of that other companies have tried to mimic Apple, but Apple remains the more dominant company, to the likes of Motorola and Samsung. Not only that, but they have more enticing advertisements as well. They were also the first to invent anything like the iPad. Once one company thinks they have an answer for an Apple product, Apple will strike back with an even better product. It is nearly impossible to compete with Apple, and there really is only a race to see who is second behind them.
ReplyDeleteThough trusting a large company is trick and risk taking, I don’t think America has anything to worry about. Apple is such a large well know company around the world, the demand for the products are too high and will always be wanted. The thing about Apple is that though some of the products may seem a bit over priced at times, the quality of their product is worth the investment. With the iPhone, and other apple products being so popular and the company coming out with new version of it regularly, the buyers will and would never get bored of their product. Since our country is in a rescission I think it’s only smart to rely on a large company during this economy.
ReplyDeleteIt amazes me how much people will invest into a piece of technology. Being an apple user myself I connect with this article greatly because whenever apple comes out with a new iPhone I always want it even though I have a perfectly good working phone and don't need it. It blows my mind how many people are reliant on this for something that could be potential loss in the long run, I wonder if people are trying to do something about this? Thousands of people put so much time in effort into a company and are so dependent on it and they shouldn't be. You should never be 100% dependent on a product or company just in case something happens and things begin to crash. That really opens my eyes in the aspect of Apple and how it works and how much money it makes. Great article Jordan!
ReplyDeleteIt's amazing to think about how much Apple tends to make on the day to day basis and how they keep on growing over the years. At times I could see how it would get scary depending on such a large company for profit because of the economy. A good point was brought up when you stated that the company is at risk for failing and hurting the economy more than help it. Many people are becoming more and more dependent on their Apple products when they should be more worried about other things. The graph really showed how much Apple has made in the past year or so and it's amazing that it could grow that much.
ReplyDeleteIn today's society, the iPhone has dominated the cell phone market; but, in my honest opinion it is not the best smartphone out there. The reason I find that users like iPhones so much is the user interface of the device. It is simple to use, but doesn't allow for massive change of the iOS running the phone. Therefore people who are less tech savvy like to use iPhone, but people who like to go into the phone and change stuff around to truly make it there phone use other operating system such as Android or Windows. Personally I have never owned an iPhone and don't plan on it, until the product truly is something spectacular. The phone which I have right now is the Sony Xperia Z1s which has a 20MP camera and it completely waterproof. Now that's unique. The only product that I use that is Apple is the iTunes software to upload my songs directly to my phone, but otherwise Apple is just another company trying to make money. Overall, I feel like more people should be open to trying new interfaces such as Android and Windows and see for yourself the endless options that are available.
ReplyDeleteI didn't know the economy relied so much on Apple, but I can see why seeing as they makes millions of dollars. The amount of money they make on a daily basis is shocking, but it makes sense. Having a lot of the latest Apple products myself, I'm always the one who wants the latest and greatest along with the rest of my family. Although the iPhone is a good phone, there are definitely better out there, I feel it's just the brand name that people are so hooked on. It doesn't have features that Androids do, but we want it anyways because it's advertised extremely well. I think people will continue to demand the newest piece of technology from Apple so the economy doesn't have to worry about it. For some people, it's an inelastic product that no matter what the price is, it's still a must have. For others, if the price is too high it isn't worth it. I think it will continue to be an inelastic product and the economy won't have to suffer.
ReplyDeleteI think it's amazing how quickly Apple grew to become the one of the most important and wealthy companies in the world. Steve Jobs created a revolutionary change in technology with his amazing knowledge and invention, and it clearly has improved the economy. I personally only have one Apple product, but the quality of it makes me want to expand and get more. It is also clear that regardless of the high Apple prices, people are still willing to pay a lot of money for these items. Some may claim this is not a smart decision, but it is evident that these spending choices have encouraged economic growth. On the downside, the expansion in technology has limited social interaction and has instead produced more behind-the-screen connectivity. This is a growing issue across the globe, but investors care more about money than the preservation of a face-to-face conversation.
ReplyDeleteThe numbers that Apple has produced for our economy is pretty astonishing. The fact that the iPhone is one of the most purchased items across the world and the first generation iPhone only came out 7 years ago. The technology advances they are able to include into every new cell phone released has added a lot of flare to their company. Their style clearly stands out from the rest and is something that everyone wants. It is amazing to think how much Apple really has done for our economy in general by creating jobs and receiving such a large income. They will always be the top dog in technology and everyone is always looking forward to what they have in mind to release next.
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