Technology

What This Apple and GE Partnership Could Mean for the Internet of Things

Chris Lange

Published: October 18, 2017 10:25 am

Last Updated: January 12, 2020 7:05 am

As we continue to advance, more businesses, companies or even individuals come on the scene to innovate new technologies that can make our lives easier and further connect us. The Internet of Things (IoT) has been a big wave within the technology sector, pushing for more connectivity and smarter devices, ultimately leading to explosive growth in the sector. Two of the biggest names out there, General Electric Co. (NYSE: GE) and Apple Inc. (NASDAQ: AAPL), are now joining forces to take this trend by storm.

Both companies announced a partnership to deliver powerful industrial apps designed to bring predictive data and analytics from Predix, GE’s industrial IoT platform, to the iPhone and iPad. The two companies unveiled a new Predix software development kit (SDK) for iOS that gives developers the tools to make their own powerful industrial IoT apps.

The new Predix SDK for iOS will be available to download on Thursday, October 26. The SDK gives developers the ability to make powerful, native apps that take full advantage of the industrial analytics from Predix and tap into the power and ease of use of iOS.

In collaboration with Apple, GE is also developing apps for both internal use and its customers, giving workers powerful tools to enhance their jobs and help operations run more efficiently.

Tim Cook CEO of Apple, commented:

GE is an ideal partner with a rich history of innovation across the industrial world in areas like aviation, manufacturing, healthcare and energy. Together, Apple and GE are fundamentally changing how the industrial world works by combining GE’s Predix platform with the power and simplicity of iPhone and iPad.

John Flannery, board chair and chief executive of GE, added:

The partnership between Apple and GE is providing developers with the tools to make their own powerful industrial IoT apps. Our customers increasingly need to arm their workforces through mobility. Working together, GE and Apple are giving industrial companies access to powerful apps that help them tap into the predictive data and analytics of Predix right on their iPhone or iPad.

Shares of GE were last seen at $23.19, with a consensus analyst price target of $27.80 and a 52-week trading range of $22.83 to $32.38.

Apple was trading at $160.48. The stock has a 52-week range of $104.08 to $164.94 and a consensus price target of $174.12.