Heard on the Street: Like Apple with the iPhone, Peloton is trying to convince consumers to buy an expensive product they never knew they needed
When Apple released its first iPhone in the summer of 2007, this newspaper questioned whether it was “worth it.” Hindsight is 20/20, of course.
A new high-end smartphone now is more expensive than a laptop computer, but the devices have become nothing short of a necessity. Over the past 12 years, Apple has created a phone business now generating more than $140 billion in sales annually and its share price has increased more than 12-fold.
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