Apple Enterprise Dollars Looming Larger: Analyst
CUPERTINO, Calif. (TheStreet) -- The spotlight might be firmly focused on Apple's(AAPL) latest, greatest consumer gadgets ahead of its Worldwide Developers' Conference (WWDC) next week, but enterprise dollars are looming ever larger in the company's plans, according to Sterne Agee analyst Shaw Wu.
The analyst recently met with Apple CFO Peter Oppenheimer and Eddy Cue, the company's senior vice president, for Internet Software and Services, who outlined the firm's efforts to boost its enterprise revenue.
"In terms of the enterprise market, Apple commented that it is adding to its sales team, spending on its VAR
Although Apple does not break out its enterprise revenue, the Cupertino, Calif.-based company has been vocal about the growing popularity of iPads and iPhones in corporate America. Speaking during the company's second-quarter conference call earlier this year, Apple CEO Tim Cook said that 94% of the Fortune 500 and 75% of the Global 500 are either testing or deploying iPads.
Initially, according to Cook, Apple's focus was on working with Fortune 500 and Global 500 firms to get the iPad certified for their particular enterprise. "We are moving our focus away from this and focusing on penetration within these accounts," he added. "It's absolutely the most broad-based product I have ever seen in my whole career in terms of adoption rate into the enterprise."
Apple's iPhone is also gaining significant traction amongst enterprises, increasing the pressure on rival Research in Motion(RIMM) . Analysts have already noted iPhone share gains, as companies increasingly sanction iPhones as BlackBerry replacements.
"iPhone momentum in the enterprise has evolved beyond email, calendar and contacts," added CFO Oppenheimer, during Apple's second-quarter conference call. "IT and business line managers across industries see the opportunity to leverage both company and employee-owned devices to improve productivity and efficiencies through iOS in-house app development."