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Apple Set to Introduce Business Chat Feature in iMessage App
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Apple Inc. (AAPL - Free Report) is preparing to add a new feature to its iMessage application that will facilitate the communication process between businesses and customers.
The Business Chat feature will allow the customers to connect with the businesses directly. The customers will be able to get answers by chatting with supports, schedule appointments and buy goods through transactions via Apple Pay on their iPhone, iPad and Apple Watch.
Though the feature was announced last year at Apple's Worldwide Developer Conference (“WWDC”), it will be introduced this spring with the upcoming iOS 11.3 update.
The company has a strong partner base for this launch that includes the likes of Wells Fargo, Lowe's, Hilton Grand Vacations and Discover Financial Services.
The Business Chat feature will help Apple to address growing needs of B2C sector. It will also boost company’s services business as its own platform will handle communications, payments and customer service.
It is to be noted that majority of customers are reluctant to call customer help desk since it is time consuming. According to a Facebook commissioned study by Nielsen, people prefer to send a text to business representatives rather than calling them following a long step-by-step process.
However, Apple’s Business Chat is going to face a stiff competition from Facebook’s WhatsApp Business application, which was launched recently in few countries. Moreover, the social media giant is expected to launch an iOS version of the application in the near future.
Apple Services: Key Catalyst
Apple’s Services segment, which includes revenues from Internet Services, App store, Apple Music, AppleCare, Apple Pay, licensing and other services, has become a strong growth driver. In fourth-quarter fiscal 2017, segment revenues jumped 34% year over year to $8.5 billion.
Apple is on track to double Services revenues of $24 billion in fiscal 2016 by 2020. To boost subscriber base, the company is now venturing into original programming. Per reports, the company is set to invest $1 billion and has appointed ex-Sony executives Jamie Erlicht and Zack Van Amburg, to initiate expansion into original television programming.
Moreover, Apple is likely to launch streaming service in 2018, which will provide significant boost to the Services business.
Further, Apple recently forayed into the smart speaker market through the launch of HomePod. However, the company will face significant competition from Amazon’s (AMZN - Free Report) Echo and Alphabet’s (GOOGL - Free Report) Google Home, which were launched more than three years and one year ago, respectively. Notably, Amazon is the dominant leader in this market segment.
HomePod has functions similar to Echo and Home. The device also integrates with Apple Music and its digital assistant Siri. We believe Apple’s entry into the smart speaker market will help it gain more subscriptions for Apple Music, which has seen phenomenal growth with more than 30 million subscribers.
It's hard to believe, even for us at Zacks. But while the market gained +18.8% from 2016 - Q1 2017, our top stock-picking screens have returned +157.0%, +128.0%, +97.8%, +94.7%, and +90.2% respectively.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - Q1 2017, the composite yearly average gain for these strategies has beaten the market more than 11X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
Image: Bigstock
Apple Set to Introduce Business Chat Feature in iMessage App
Apple Inc. (AAPL - Free Report) is preparing to add a new feature to its iMessage application that will facilitate the communication process between businesses and customers.
The Business Chat feature will allow the customers to connect with the businesses directly. The customers will be able to get answers by chatting with supports, schedule appointments and buy goods through transactions via Apple Pay on their iPhone, iPad and Apple Watch.
Though the feature was announced last year at Apple's Worldwide Developer Conference (“WWDC”), it will be introduced this spring with the upcoming iOS 11.3 update.
The company has a strong partner base for this launch that includes the likes of Wells Fargo, Lowe's, Hilton Grand Vacations and Discover Financial Services.
Apple Inc. Price and Consensus
Apple Inc. Price and Consensus | Apple Inc. Quote
B2C Focus to Benefit Apple Services
The Business Chat feature will help Apple to address growing needs of B2C sector. It will also boost company’s services business as its own platform will handle communications, payments and customer service.
It is to be noted that majority of customers are reluctant to call customer help desk since it is time consuming. According to a Facebook commissioned study by Nielsen, people prefer to send a text to business representatives rather than calling them following a long step-by-step process.
However, Apple’s Business Chat is going to face a stiff competition from Facebook’s WhatsApp Business application, which was launched recently in few countries. Moreover, the social media giant is expected to launch an iOS version of the application in the near future.
Apple Services: Key Catalyst
Apple’s Services segment, which includes revenues from Internet Services, App store, Apple Music, AppleCare, Apple Pay, licensing and other services, has become a strong growth driver. In fourth-quarter fiscal 2017, segment revenues jumped 34% year over year to $8.5 billion.
Apple is on track to double Services revenues of $24 billion in fiscal 2016 by 2020. To boost subscriber base, the company is now venturing into original programming. Per reports, the company is set to invest $1 billion and has appointed ex-Sony executives Jamie Erlicht and Zack Van Amburg, to initiate expansion into original television programming.
Moreover, Apple is likely to launch streaming service in 2018, which will provide significant boost to the Services business.
Further, Apple recently forayed into the smart speaker market through the launch of HomePod. However, the company will face significant competition from Amazon’s (AMZN - Free Report) Echo and Alphabet’s (GOOGL - Free Report) Google Home, which were launched more than three years and one year ago, respectively. Notably, Amazon is the dominant leader in this market segment.
HomePod has functions similar to Echo and Home. The device also integrates with Apple Music and its digital assistant Siri. We believe Apple’s entry into the smart speaker market will help it gain more subscriptions for Apple Music, which has seen phenomenal growth with more than 30 million subscribers.
Apple currently carries a Zacks Rank #3 (Hold).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +18.8% from 2016 - Q1 2017, our top stock-picking screens have returned +157.0%, +128.0%, +97.8%, +94.7%, and +90.2% respectively.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - Q1 2017, the composite yearly average gain for these strategies has beaten the market more than 11X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
See Them Free>>