By
Godfrey Benjamin
April 23rd, 2024
Apple is going to deepen its investment in healthcare in order to realize its vision of making its greatest contributions in the industry. Meanwhile, AAPL stock is in the red.
Healthcare is estimated to be a $3 trillion industry and the relevance of the healthcare sector became more pronounced with the COVID-19 outbreak. Established companies while looking for ways to spread their investments are also looking for ways to contribute to humanity. This is the foundation upon which Apple Inc (NASDAQ: AAPL) is looking for ways to boost its presence in healthcare. With this plan, the company hopes to see a week in which its stock performance will improve. The stock closed lower on Friday after losing 0.57%. The stock is currently at $347.07 losing $2.65 (-0.76%) in the pre-market on Monday. With a renewed clamor for health investments, the company’s stock is expected to skyrocket in its bid to attain a $2 trillion market cap.
Growing Healthcare Investment Expectations from Apple
The Apple corporation is renowned for producing widely used products including iPhones, iPods, Macintosh, iPad, Apple Watch, Apple TV, HomePods, Softwares, and Electric Vehicles. For every of Apple’s inventions, a touch of class, elegance, and the optimal value is the emphasis.
Interest among stakeholders in the health sector has started growing ahead of the company’s World Wide Developer Conference (WWDC) this week. Apple has some of its products like the Apple Watch built to provide health services like activity tracking, heart rate monitoring, an electrocardiogram to detect irregularities with the heart’s rhythm, fall detection alerts, integrations with third-party health apps and lots more.
While this is applauded, health experts believe more direct involvement in health as once said by Tim Cook, Apple CEO, who hopes health will be the company’s “greatest contribution to mankind.” As reported by CNBC:
“In the last five years or so, the company has built up a big internal team staffed with doctors, health coaches, and engineers. It has developed health-focused software and hardware, and even started medical clinics for its own employees.”
The health community believes that with a concrete strategy and a biomedical breakthrough, such as non-invasive blood pressure or blood sugar monitoring, the company could do a lot more.
The major suggestions for probable investment include telemedicine, better sleep tracking, women’s health bordering on fertility, reproductive health, etc, food logging, health payment gateway, and the invention of blood sugar monitoring or a blood-pressure monitor to mention a few.
Potential for More Impact and Growth
Apple already has a wide reach with its unique product offerings. Its involvement in healthcare will afford it a means to impact more Americans particularly if its health products are as diversified as expected. The integration of medical services with its products will make room for bigger sales and gives a positive growth potential which will favor the company’s future growth.
The world’s citizens are now looking beyond normal gadgets, electronics, or mobile products to a more worthy venture. Should Apple make its promises to step into health care well, it will earn more goodwill amongst the populace.