Why Apple’s foray into entertainment, finance could be as epochal as iPhone

Apple’s legendary leader Steve Jobs revolutionised the smartphone when he launched the iPhone in 2007. On Monday, Jobs’s successor Tim Cook launched a credit card, which is not even touch-enabled or foldable. Apple also launched a news aggregator and an updated video streaming platform. Where’s the innovation, one might ask.

Apple is the second most valuable listed corporation in the world, following Amazon. Its market capitalisation briefly crossed $1 trillion last year. It had $245 billion in cash in January 2019—enough money to buy Netflix and still be left with almost $100 billion.

Big corporations arrive at an inflexion point in their lives. Many perish, some drag and a very few continue growing.