Apple is definitely growing larger and larger and they are trying to dominate the entire technology market. This is why Apple reached an all time high in stocks growth this past week.

Recently, Apple’s CEO, Tim Cook announced the revolutionary new payment system called Apple Pay and it EXPLODED in sales. There are already over a million activations since the introduction of the e-payment system. Based on the business model canvas we discussed in class, Apple’s key partners are major banks and large retail stores which is a brilliant move to enter the e-payment market. The full news report can be seen here.

We also discussed about PoP and PoD in class and this move by Apple is definitely a strong point of differentiation. This sets Apple apart from other tech companies and it helps to generate larger profits as they enter a new market. Apple Pay being so successful is a huge threat for existing e-payment companies such as Paypal. With McDonald’s recent partnership with Apple to allow customers to purchase Big Macs and Quarter Pounders with their Apple devices, Paypal quickly made plans with Burger King and several other companies to avoid falling behind. We discussed in class how the market is always changing and businesses are always innovating. Scott also mentioned that, “if a business is successful today, they might not be in the same position in 10 years time”.