Market Overview

Is Apple's Smart Home Concept Another False Rumor?

Is Apple's Smart Home Concept Another False Rumor?

Apple (NASDAQ: AAPL) is rumored to be developing a smart home platform that will allow users to adjust their lights, security systems and household appliances.

Google (NASDAQ: GOOG)(NASDAQ: GOOGL) is rumored to be entering this space as well. Some analysts believe that if Google is building something cool, Apple will follow suit.

But does that mean Apple is actually developing a smart platform for consumer homes?

"I don't think much about it until we see it," Pacific Crest Securities analyst Andy Hargreaves told Benzinga.

Related: Will Google's Project Ara Give Apple A Run For Its Money?

Smart Devices, Smarter Apple

Analysts are eager for Apple to release a new product, but the company has stuck to the same lineup for roughly four years.

Every year, Apple updates the iPhone, iPad, MacBook Pro, MacBook Air and iMac. The iPod Touch and Mac Mini have been given frequent updates as well. Last fall, Apple finally revised its Mac Pro line of computers.

Only the iPod Shuffle, iPod Nano and Apple TV have managed to escape Apple's annual upgrade cycle. Many expect the latter device to receive a massive, game-changing update this year that will finally allow consumers to play apps on their TV. Amazon and other tech companies have already released devices with this functionality. In fact, smart television sets have attempted to deliver these features without forcing consumers to buy an extra device.

The iPhone and iPad remain Apple's most popular devices, but the products' annual upgrade cycle is only part of the reason. After all -- older iPhones tend to outsell the new iterations.

This doesn't mean that Apple should stop upgrading its products, nor does it mean that Apple should stay away from new product categories. But while other companies have scrambled to release new concepts (some of which flopped at retail), Apple has decided to rest on its laurels.

In doing so, the company continues to set at least one new sales record every quarter.

That might not make Apple the most creative or even the most innovative company in technology. But as long as its sales run continues, it might look like the smartest.

Disclosure: At the time of this writing, Louis Bedigian had no position in the equities mentioned in this report.

Posted-In: Andy Hargreaves Apple Apple TV comments Google iMacRumors Tech Best of Benzinga


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