Growth in the app market is fuelling the need for hardware, which in turn increases demand for apps.
Cupertino-based fruity gadget merchant Apple is set to become a $200 billion revenue company by the end of 2012, making it even bigger than IBM, according to George Colony, founder and CEO of Forrester Research Inc.
Speaking to Bloomberg
at its HQ in New York, Colony pointed out that the relationship between Apple's hardware and the app market is symbiotic; demand for apps drives demand for hardware, which in turn drives more demand for apps.
Apple saw sales rocket by 52 per cent last year, mainly off the back of its popular iPad and iPod products, but it’s not physical hardware sales that's likely to maintain Apple in the long run, says Colony.
It’s instead the lucrative app market that will maintain Apple’s dominance in the years to come, as it will slowly come to account for more of the company's bottom line.
All of which could mean that Apple’s run of record financial results isn't likely to end any time soon. 'They’ll be bigger than IBM next year,'
says Colony, adding that 'they’ll be bigger than HP the year after that.'
In terms of sales, this would make Apple the largest tech company in the world.
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