Stock to Watch: Apple Inc (NASDAQ AAPL) Developing Smart Home Products

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Apple (NASDAQ:AAPL) is targeting Smart Home as another business category to achieve growth. According to various sources, the tech giant Apple (NASDAQ AAPL) has assembled a new team which would develop different hardware products for the home that would deeply integrate with its devices such as the iPhone, iPad and other Apple based deices.

Although Apple unveiled its HomeKit platform for developers at this year’s WWDC, the company is now working on actual hardware products for everyday users. Apple’s smart home products probably won’t compete with the Nest Learning Thermostat or the newly announced Honeywell Lyric. Rather, it will focus on something a little more mainstream that will get more widespread usage.

It’s not entirely surprising that Apple could be creating hardware geared toward the connected home. Apple’s soon to be launched iWatch, Apple’s first Wearable Device, could be used as a multi-media controller for your home. Apple Inc (NASDAQ AAPL) has also been speculated with other innovative products which would find a footing in this market space.

Apple Inc (NASDAQ AAPL): Development of Smart Home Products

Apple Inc have always considered Smart Home as a very important category. However, it is still unknown as to whicht ypes of smart home devices are under development by Apple. Sources have suggested that Apple would possibly produce advanced speaker systems or control panels for homes. According to them, the tech giant might use the technology of its recent acquisition, Beats Electronics to achieve its vision in the smart home category.

Apple is unlikely to develop smart home devices that would directly compete with the products of Nest Labs, the maker of smart thermostat and smoke-detector acquired by Google for $3.2 billion. Nest Labs was founded by Tony Fadell, one of the persons behind the development of the iPod, the music player of Apple. Apple Inc (NASDAQ AAPL) is confident that it can create products with wider usage than the thermostat or smoke detector, though they have not specified about any product under development.

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Apple Inc financial news (NASDAQ:AAPL)

For some time now, Apple Inc (NASDAQ AAPL) has been interested in creating gadgets which can find some prominent role in our homes. Now that Apple has baked support for smart home functionality into iOS 8, we would naturally expect some new products to go along with it. This is a positive sign for Apple Inc which should see some good positive upside in the stock market.

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