by Asymco analyst Horace Dediu joins The Claman Countdown to discuss how Apple stock could fare in 2024 as the tech giant looks to diversify iPhone products away from China.
Apple has reportedly created a no-sting glucose monitor.
The project to develop the monitoring system using silicon photonics and optical absorption spectroscopy to determine blood sugar levels is progressing, according to Bloomberg, which quoted people familiar with it on Wednesday. The current phase is reportedly proof-of-concept.
An Apple logo hangs above the entrance to the Apple Store on 5th Avenue in the borough of Manhattan on July 21, 2015 in New York City. (REUTERS/Mike Segar/File Photo / Reuters Photos)
It’s been in the works at Apple for years, since the tech giant acquired startup RareLight in 2010, according to Bloomberg. It has since been reportedly tested on pre-diabetics and type 2 diabetics. Others, unsure if they have the disease, have also been tested, according to the outlet.
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The no-prick glucose monitoring system falls under the purview of Apple’s Exploratory Design Group, although its development was previously done in secret by Avolante Health LLC, the outlet reported.
| ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AAPL | APPLE INC. | 148.91 | +0.43 | +0.29% |
According to Bloomberg, an iPhone-sized wearable prototype is being developed. The company is reportedly hoping Apple Watches will eventually have monitoring built-in.
The Apple Watch Series 8 goes on sale on Friday, September 16, 2022 at the company’s Fifth Avenue store in New York, United States. The latest iPhone hits stores Friday, and Apple Inc. is counting on well-heeled buyers to make the device a hit in a year of roaring (Jeenah Moon/Bloomberg via Getty Images/Getty Images)
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Apple’s watch currently offers sleep, activity, heart rate, blood oxygen, temperature, and cycle tracking, among other health-related features. Some researchers are using the Apple Watch’s heart-related features for various studies, the company said.
Bloomberg reported that Apple could face significant competition from makers of glucose meters that require skin pricks should the tech giant successfully develop and launch its non-invasive device in the future.
US prosecutors have charged a former Apple Inc employee with defrauding the iPhone maker of more than $10 million in a series of schemes. (REUTERS/Brendan McDermid/File Photo / Reuters Photos)
In America, according to the Centers for Disease Control and Prevention, there are approximately 37.3 million people with diabetes and 96 million with prediabetes.
Apple announces disappointing first quarter results
Apple’s wearables, home and accessories segment — which includes the Apple Watch — had net sales of $13.48 billion in the first quarter of fiscal 2023. That number represented about 11.5% of total net sales of $117.15 billion for the three-month period.
FOX Business has reached out to Apple for comment.
