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The Ripple Effect: Apple Boosts Hardware Companies

Security, healthcare, and the cloud

By Scott Budman
|  Tuesday, Jun 3, 2014  |  Updated 10:20 AM PDT
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The Ripple Effect: Apple Boosts Hardware Companies

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Typically, when a tech giant like Apple introduces a new product, smaller companies shiver in fear, lay off staff, or just flat out close their doors.

OK, that's an overreaction. Lots of companies (Pandora, for example) have thrived in the wake of "OMG, Apple's in our game" events. That said, when Apple announced it was jumping into the healthcare, home security, and cloud storage areas, lots of companies rejoiced.

Think about it: For a small tech/security company like iControl, this is really good news. Apple will use its software (not to mention all those mobile devices) to help you secure your home. If you're iControl, you love the idea of the possibility of being on all those iPads and iPhones. This could be a big boost for the company.

It's also a good day if you're in wearable healthcare. Jawbone, Fitbit, and all those other companies that track your steps, calories, heartrate and sleep? They now have a potential partner in Apple - again, these companies already work (cia apps) on your mobile devices. Now, they'll likely have a cozier relationship with those devices. 

I should also mention the cloud. When Apple mentioned its cloud storage plan, pundits instantly called out Box, Dropbox, Hightail, and others as doomed. I see it rather differently. Again, all those Apple devices will make cloud storage more mainstream. No, not all of the little guys will survive, but as Box CEO Aaron Levie (who was in the WWDC crowd monday) told re/code:  "All of a sudden your enterprise has tens of thousands of iPads and iPhones."   

It's not a slam dunk, but as more people jump into these technologies with their mobile devices, the companies behind the scenes could thrive.

Scott is on Twitter: @scottbudman

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