Apple's Impact On The Economy

Apple's Impact on the Economy

[Name of the Writer]

[Name of the Institution]

Apple's Impact on the Economy

Assessment of Macroeconomic Aspects

Apple Inc. is a multinational American technology company which develops, designs and sells online services, consumer electronics and computer software. The article highlights the prominent economic changes brought by Apple Inc. Essentially, macroeconomics explores the inflation rate, mass economic growth and deems the economy as a whole. Apple Inc. has advanced to cast a significant impact on the gross domestic production (GDP), evolution in employment opportunities and tremendous advancement in economic growth. It is imperative to underpin the assistance offered by the organization to the whole world and not only the United States of America (USA).

Pros and Cons

To begin with the cons, Apple Inc. has struggled to unleash potential technological advancement in true letter and spirits. A wide range of Apple's sales is reliant on iPhone sales. Besides, a chunk of profit depends on overseas sales. The unstable nature and surge of dollar prices may impede the sales as customers get inclined toward Android devices worth $100. The most critical aspect is the stringent government's policies pertinent to trade agreements. Consequently, both Apple's profit structure and economic variables in the United States of America (USA) are prone to get affected in the future.

Apple. Inc is the pioneer in the technological realm and cannot collapse easily. The arguments of cynics related to the lack of innovation may be true but the supreme quality of products urges consumers to overlook these loopholes. Moreover, the huge base of loyal customers and the seasoned marketing team accentuate the economic advancement of the organization and the state. With the passage of time, Apple Inc. rejuvenated the job market with scientists, designers, marketing, retail, manufacturing, support and software engineers. 1,530,000 jobs in the US attribute to the App store ecosystem which is an explicit illustration of the impregnable impact of Apple Inc. on the economy.

Summary

The article delineates the immense economic advantages assembled by Apple Inc. since its inception in the United States of America. It accounts for the creation of more than 2 lac jobs in 50 states. Since the launch of the App Store, US developers earned more than $16 billion in sales across the globe (“Job Creation,” n.d.). The Apple tech support centers support North American consumers with 13,00 representatives throughout the USA. It is worthwhile to highlight the distinguish employee benefits for both part- and full-time workers. Employee stock plan purchase, matching retirement contributions and health insurance are the eminent incentives offered by Apple Inc. The organization facilitates a staggering amount of 80,000 employees. Furthermore, the U.S. based suppliers account for more than 450,000 jobs. The core products as iPod, iPhone, Apple Watch, Mac and Apple TV comprise materials or parts from the States or U.S. based suppliers. A significant amount of investment projects is in streamline to further uplift the economy of the United States with the creation of jobs.

Conclusion

Irrefutably, Apple Inc. assumes an instrumental role in strengthening the economy of the USA through job creation which has been highlighted in the article. The article successfully underpins the structural benefits for the US economy. However, the global impact of Apple Inc. has not been addressed. The markets for Apple products are entirely different in several regions. It would be worthwhile to critically assess the impact of economic variables on Apple Inc. and consequently on the United States. Essentially, the job market is potentially fueled by Apple Inc. and it is likely to grow at an exponential rate.

References

Job Creation. (n.d.). Retrieved August 5, 2019, from Apple website: https://www.apple.com/job-creation/Job Creationhttps://www.apple.com