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Fortune 500 Term Paper

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This session long project will follow the Fortune 500 firm, Apple, Inc. and will briefly analyze how the company began its journey to become one of the major technological companies in the world. It will discuss positive and normative statements and describe differences between to the two concepts. Lastly it will discuss the recent announcement and release of the newest iPhone generation and apply economic concepts outlined in the Module-1 background reading material. Apple Inc. is currently ranked number 3 on the Fortune 500 list (Fortune 500). The company has spent 23 years on the Fortune 500 list. When reviewing the company’s rank history, the company as been on a steady climb since it experienced an all time low of being ranked at …show more content…

Essentially, limited resources are one of the fundamental concepts in economics where we must decide the best use of a limited resource for the betterment of the economy. In the case of Apple, lets review the recent announcement of the new iPhone. On September 12, 2017 Apple announced the latest development of the newest generation of the iPhone. They announced the release of the iPhone 8, 8s and X, however release was not necessarily the case with either version. The iPhone 8 and 8s were not immediately available to the public, as Apple didn’t begin accepting pre-orders until September 15, 2017—three days after their announcement—with anticipated shipping of the highly awaited next generation of the iPhone on September 22, 2017. That short amount of time was not nearly as long as the amount of time for those who were dedicated to upgrading to the iPhone X as Apple did not begin accepting pre-orders for the equally awaited version of the iPhone until October 27, 2017 with an anticipated shipping date of November 3, …show more content…

The screen is designed with OLED (Organic Light Emitting Diodes) technology whereas the screen boasts a series of organic thin films between two conductors (OLED-info, The OLED Experts). OLED-info reports OLED screens provide improved image quality, better contrast, higher brightness, wider color range and much faster refresh rates. The thin OLED films are thinner than conventional LED screens and they provide the ability to introduce flexibility—even rollable—and transparent displays (OLED-info, The OLED Experts). It is this flexible screen that is creating all the hype—and the wait—for the iPhone X as the display features a full faced screen with rolled edges. OLED manufacturers cannot keep up with the demand of the technology as it has increasingly popped up in smartphones, high definition televisions…even watches (Swartz & Snider, 2017). The technology is in such demand that it is costing Apple billions of dollars in short-term sales, and Apple is not the only victim to scarcity as Samsung, HTC and Google as been affected as well (Swartz & Snider,

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