Steve Jobs gets new iPhone, Stockholders get new Learjets
The furor over the iPhone has been driving shares of Apple (APPL) through the roof since the launch of the popular new phone / browser / email client / iPod. Shares of AAPL were up to as high as $132.58 on July 5th up from a high in June of only $125.09. That’s nearly a 6% rise in under a month.
Apple has had it’s fair share of headaches around the iPhone including DVD Jon hacking the iPhone for use on other mobile networks (all be it limited use) and a consumer advocacy group blasting Apple for its battery replacement program.
Despite a few hiccups along the way, the iPhone has been a boon for Apple and seems to fit well with Apple’s strategy of producing well made consumer electronics with sleek designs and high usability. Apple’s success with the iPhone and subsequently its climbing stock price has even helped contribute to an overall rise at Nasdaq.
As a consumer device the iPhone seems to be getting good reviews; however, because Apple has yet to support Exchange its unlikely that the iPhone will see much action in the business world. This may be okay with Apple as one of the things that has made Apple so successful is their ability to rule their niche in the consumer electronics market.
While it may be a while before you see your CEO break out an iPhone, there’s no doubt every college student in America will be diverting beer money to help save up to get their hands on an iPhone. Meanwhile Steve Jobs can sit back and enjoy the success he’s achieved doing what every other “smart phone” vendor should have been doing a year ago–creating a phone that looks good, is highly functional, and integrates music and videos.