“Apple shares have fallen more than 35% since hitting a record high last September,” Jonathan S. Geller writes for BGR. “The tech press has declared that Apple is doomed. On the defensive. Unable to compete with Samsung. Never mind that the company only pulled in $13 billion in profit last quarter, and only has $140 billion in cash, and that Apple has the best-selling smartphone in the world. There is one thing that Wall Street analysts have forgotten in their reports, models, and projections — Apple has 500 million iTunes accounts with credit cards.”
“Why would Apple reportedly be putting a fingerprint reader in its next iPhone in order to introduce NFC? Just to be extra secure?” Geller writes. “Probably not. It’s my guess that Apple isn’t simply going to use NFC as a tap and pay gimmick, but rather to become a payment processor. The intermediary in between a merchant and the credit card companies. Apple will be able to let you seamlessly buy anything and charge it directly to your iTunes account, and it will take a reasonable commission on every purchase made.”
Read more in the full article here.
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