Today, Apple became, at least on paper, the most valuable company ever, opening with a market capitalization of $776 billion, beating its previous record. Apple itself has $246 billion in the bank, too, so that’s not just stock market valuation at play. But all this good news arrives right as Apple is facing an identity crisis.
Apple is at its best. and most focused. when it innovates. But innovation at the company has largely hit a wall. Apple dominates smartwatches with the Apple Watch, but it’s also really the only company bothering to make smartwatches. And its self-driving car project, a dearly held dream of Steve Jobs, has collapsed into the far more modest goal of helping Detroit engineer its self-driving car software.
So where can Apple go next? More importantly, where should Apple go next? Here are a few ideas for a company that needs to start innovating again.