Apple Inc. (AAPL) Brags, ‘Uber Owes Its Existence To Our Platform’


Apple Inc. is beginning to speak more about the power of its App Store as it starts to depend more heavily on its services business for revenue growth. In a recent interview, Eddy Cue – Apple’s head of internet services – tried to take credit for Uber as well, notes a report from Business Insider. Well, that is too much even for the Cupertino-based giant.

Apple Inc (AAPL) Uber

Is Apple really the reason behind Uber’s existence?

During an interview, Cue told Fast Company, “I think it’s awesome that Travis and his team have done Uber on our platform. It would not exist without our platform, let’s be clear. But great for them for thinking of that problem, and solving it. We would never have ever solved that problem.”

Cue said they cannot be everything. He said that one of the reasons behind their success is their focus, adding they cannot be good at everything, and no one is really good in all the things. If one wants to be good at something, they have to focus on it, said Cue.

Apple Inc. became an indirect investor in Uber only recently (earlier this month to be more exact). The Uber app works perfectly on Android as well, but one can kind of notice what Cue is really trying to say here.

App Store more useful than Play Store?

Apple Inc. created a new platform for computing when it launched the iTunes App Store in 2008 and the iPhone in 2007. Google launched Android only until September 2008. Imagining a world without useful mobile apps is quite difficult. The iPhone maker, hence, could take the credit for Shazam, Snapchat and even the Pokemon Go.

Apple actually did this, when earlier this month, CEO Tim Cook took credit for Pokemon Go. During the earnings call, Cook said Pokemon Go is “a testament to what happens with innovative apps and the whole ecosystem and the power of a developer being able to press a button and offer their product around the world.” And, this is the reason why people see so many iPhones in the wild trying to chase Pokemon.

Google Play is an important app store as well, but Apple users spend more money and download more app. So, it is simple to understand why entrepreneurs like Uber CEO – Travis Kalanick – decided to release the app on iPhone first. Hence, it is true that the App Store makes new experiences possible. Part of the reason behind this is: the App Store has slowly become an important part of Apple’s new push to find recurring revenue from its services.

On Wednesday, Apple shares closed down 0.74% at $108. Year to date, the stock is up almost 1% while in the last one-year, it is down almost 7%.

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Aman is MBA (Finance) with an experience on both marketing and Finance side. He has work as a Risk Analyst for AIR Worldwide, and is currently leading VeRa FinServ, a Financial Research firm. Favorite pastimes include watching science fiction movies, playing PC games and cricket.


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