Investors are still digesting all the news from Apple's (NASDAQ:AAPL) Tuesday event where the company unveiled several new products and services. No one described the day more accurately than Apple's own CEO Tim Cook when he referred to it as "the next chapter in Apple's story." Here are five quotes from the important event that you don't want to miss.
Fashion and technology collide
With the Mac and subsequent products under Steve Jobs' leadership, Apple set the standard in bringing together art and technology seamlessly. With the Apple Watch, the tech giant is boldly attempting to bring the same sort of synergy to technology and fashion.
"We're now at a compelling beginning -- designing technology to be worn, to be truly personal," Jony Ive said as he highlighted the design and features of the Apple Watch in a video that was played at Apple's Tuesday keynote.
The implications of Apple bringing fashion and technology together in such a seamless way are, indeed, enormous. Given the massive scale of the fashion industry, even a tiny slice for Apple could be meaningful.
A new revenue stream
"We've been working incredibly hard for a long time on an entirely new product. And we believe this product will redefine what people expect from its category," Cook said just before he introduced the Apple Watch.
A new category. Investors have been waiting to hear those words for years. Why is a new category so important to Apple investors? Because of the second half of this chart:
Apple's revenue growth rates have slowed. This has led some investors to wonder about the company's heaping $178 billion in annual revenue: "Are these levels sustainable?" investors have been asking.
Fortunately, the Apple Watch, as an entirely new product category for the company, may play a key role in helping Apple tap into further growth as the wearables category takes off.
"And now I'd like to talk about an entirely new category of service, and it's all about the wallet." Apple CEO Tim Cook said on stage after the company's latest generation of iPhones were shown off. "Our vision is to replace this, and we're going to start by focusing on payments."
Though it's not clear yet whether or not Apple Pay will provide a new revenue stream for Apple, like the Apple Watch will, it does play a roll in building value. Apple Pay strengthens Apple's ecosystem for existing users, providing an overall better experience. And the antiquated industry of payments offers compelling prospects for Apple, as the industry is ripe for disruption.
Vertical integration is still a winning strategy for Apple
"We love to integrate hardware, software, and services seamlessly," Cook said about the Apple Watch.
Apple could not have pulled off the Apple Watch as well as it did if the company wasn't as vertically integrated as it is. This vertical integration is one of Apple's primary competitive advantages over its competitors.
Innovation is back
"We have one more thing," Cook said at a point that would have been the end of the event if Apple didn't have entirely new product category ready to show off.
A phrase rarely said at an Apple event, these words have historically signaled the introduction of a disruptive new product. This was the first time Cook ever repeated these important words first made famous by founder Steve Jobs, and the Apple Watch will be the first major new category under Cook's leadership.
Judging by the standing ovation that followed the Apple Watch unveil video, Cook is proving innovation is still at Apple's core.
Daniel Sparks owns shares of Apple. The Motley Fool recommends Apple. The Motley Fool owns shares of Apple. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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