Apple has long had an aggressive marketing strategy in which it pushes products like the iPhone, iPad, Mac and tvOS, all designed to drive consumers to buy Apple products and services.
But its recent push into retail banking has left many investors concerned.
Apple is a financial services company, not a consumer finance company.
It does not need to be.
If Apple’s retail banking business is to continue, the retailer needs to make its products available to more consumers and provide a broader range of products and banking options to them.
To be sure, Apple is trying to expand its retail banking services, including through a mobile banking app.
But Apple is not the only bank that wants to offer Apple products.
Bank of America, JPMorgan Chase and Wells Fargo are also looking at expanding their offerings.
But it is a bit of a leap of faith that Apple will be able to make this a reality.
Apple needs to focus on banking for consumers to become more loyal to its products.
But banking has to be done for a number of reasons.
It is a big business that is worth much more than the $20 billion it makes on its Apple retail banking operations.
If the retail banking industry can’t grow, Apple will become a secondary financial services player.
That is not a great thing for its investors.
The retail banking sector has been in a state of crisis for many years.
It was recently forced to cut 1,400 jobs and is in the midst of a crisis-level economic contraction.
Its problems started in 2008, when it announced a plan to merge with US bank Chase.
It later scrapped the merger and was forced to lay off a quarter of its workforce in 2015.
And now the financial crisis has hit home, as the number of Americans without bank accounts has risen.
While many retailers are cutting jobs, it is unlikely Apple will follow the path of other big retailers like Wal-Mart and Target.
In addition, Apple has been struggling to gain traction in the US retail banking market.
According to a recent report from research firm IBISWorld, Apple’s US retail financial services revenues have been shrinking for the past three quarters, which suggests that the retail sector has not recovered to pre-crisis levels.
This suggests that Apple’s efforts to compete with the likes of Fidelity, Wells Fargo and other large financial institutions may have failed.
What do you think about Apple’s banking expansion plans?
Share your thoughts in the comments below.
Read more about banking: How the big banks are trying to grow their banking operations