Apple Inc. AAPL released the first iPhone on this day back in 2007 and the 10-year anniversary is a very significant milestone, according to Cyrus Mewawalla, managing director at CM Research.
But now that the decade anniversary is in the books, it's time to start looking forward.
The biggest change Apple brought to the world 10 years ago was that it put an "entire computer on a smartphone," Mewawalla told CNBC. Apple also replaced a phone's keyboard with a touchscreen and revolutionized apps in its many iPhone devices over the years. But now nearly every other smartphone not only offers similar products, but go one step beyond Apple with superior technology offerings.
"These are the threats to Apple," Mewawalla said. "A lot of commentators have accused Apple of copying other companies and not having the innovation it has had in the Steve Jobs era of 2007. "
For example, Apple is still notably behind other key tech giants in cloud storage as well as in the connected home unit -- both competitive threats coming from Amazon.com, Inc. AMZN in terms of its AWS cloud unit and Echo devices.
Bottom line, Apple's most notable profit generator is the iOS system, which makes it critical for Apple to catch up in the many areas where it has fallen behind.
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