Apple Inc. is sitting on about $100-billion. That’s “b” as in billion. Apple products are the darling gadgets of tens of millions of customers worldwide. Apple Stores attract an inordinate number of customers. To some, Apple’s profits are insanely obscene.
What is Apple doing with all that money? Spreading the wealth.
Already, one of Apple’s manufacturing partners, Foxconn, has increased factory worker wages by up to 25-percent. By most accounts, those employees are among China’s best paid factory workers.
Apple’s executives are highly paid. Now it appears as if some Apple Store employees are going to reap a little of what they’ve helped to sow.
Dylan Love reports in Business Insider that Apple is giving hefty raises to Store employees; in many cases up to $4 an hour more.
Spreading the wealth. That’s Apple under new CEO Tim Cook.
Back in May, 9to5 Mac reported that Apple’s new retail store chief planned to bump raises three months earlier than the originally scheduled September 30th date.
That’s spreading the wealth, and moving it down the food chain to rank and file members of Apple’s collective.
Why is Apple spreading the wealth? Because they can.
First, Apple has wealth to spread. Second, Apple recognizes employee contributions to the company’s success, and has a history of rewarding accordingly. Third, Apple wants to continue the tremendous growth of recent years, and spreading the wealth helps up and down the line.
What else can Apple do to spread the wealth? Lower prices.
Across the board, Apple charges a premium for their high quality gadgets. Product margins are the envy of gadget manufacturers everywhere in the world. In a world economy that often seems in tatters, Apple rises above by building products that buyers will stand in line to obtain.
Apple can show a little of their newfound appreciation for the food chain by lowering prices to those of us at the bottom of the chain.