In my view Apple digital innovation is on some kind of curve of diminishing returns. The Ipod and Iphone were both disruptive technologies that redefined music and telephony. The Ipad was less impressive, a handy gadget really, but not much more. Now we have the Apple Watch to be released next month, which does not do much more than track your pulse, as far a I can tell. Please correct me if I’m wrong!
You might wonder why I even bother with this on an economic site. Well, it actually has macro implications. In last week’s national accounts, the main domestic driver of growth was household consumption at 0.5% and it was materially juiced by the release of the Iphone6.
No doubt the Apple Watch will arrive with great hoopla in April and will be a must-have accessory for the body-conscious nouveau riche but is it more than that, I ask ya?
Really, I am asking!
