Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Apple Inc. (AAPL)’s iWallet May be First Creative Leap for Tech Giant in Post-Steve Jobs Era

Apple Inc. (NASDAQ:AAPL) may be on the verge of their first major creative leap in the post-Steve Jobs era of the company’s history according to former Apple CEO John Sculley. Speaking to Bloomberg this morning, Sculley expressed optimism in how the iWallet, expected to be unveiled tomorrow, could be a major game-changer for the company.

Apple Inc. (NASDAQ:AAPL)

“I’ve been wondering for over a year why Apple hasn’t made a move into mobile payments, and I speculated about a year ago, ‘gee, Apple could go out and buy Ebay and get PayPal’, but I think now that the stars are aligning,” Sculley said.

As Sculley said, there was some question over whether Apple Inc. (NASDAQ:AAPL) would ever achieve the same kind of creative leaps that were commonplace under Jobs’ leadership and vision. As he said, while new iPhones and the like will undoubtedly be great products and bring some innovation to the table, they are not creative leaps, but rather gradual improvements upon that creative leap that already took place when the first iPhone took the smartphone world by storm.

While the iWatch has been getting a good deal of hype as a product that could revolutionize its industry and usher in another iconic product for Apple Inc. (NASDAQ:AAPL), Sculley believes the iWallet is the one that has the potential to be a great leap for Apple Inc. (NASDAQ:AAPL), with the ability to make use of their 800 million iTunes accounts linked to credit cards in a way that they have not yet been able to do in a meaningful way, revenue-wise. Convincing even a fraction of those users to make use of iWallet for all their purchases would generate a large revenue windfall for Apple Inc. (NASDAQ:AAPL). Paypal, with about 150 million active users, had revenue of $1.85 billion in the first quarter of this year alone.

Apple Inc. (NASDAQ:AAPL) is rumored to be working with the three major credit card companies on their new mobile wallet, and utilizing NFC technology directly incorporated into their new iPhone and possibly iWatch, to facilitate those payments. The iWallet will reportedly be able to complete purchases with just a tap of the mobile or wearable device, followed by the required TouchID fingerprint authentication for each purchase.

Disclosure: none

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
This is a FREE report from Insider Monkey. Credit Card is NOT required.