The Apple (AAPL) iPhone is 10 years old. The device not only turned Apple into one of the world’s most valuable companies, helping to boost its stock price more than 700%, it also changed the way we invest and trade stocks.
In fact, the original iPhone — and the current versions — have an internal stocks app, allowing users to check the broader market indexes and individual stock prices.
Having this in your pocket was a big deal 10 years ago.
“I think it’s actually made the life for a typical investor much easier,” said Angelo Zino, an analyst with CFRA Research. “I think they’ve been able to tap news flows much quicker.”
And financial firms didn’t waste time jumping on board.
E*Trade (ETFC) launched its app in 2009 and soon after, mobile accounted for 1.2% of total trades. Today some 20% of trades on the platform come from a mobile device. The iPhone has even groomed a whole generation of investors addicted to checking the market’s every move.
“I definitely think people are a little bit more addicted to their devices,” said Liensa Vidra, director, product management, E*Trade. “They’re constantly picking up their iPhone to check their portfolio — how the market is performing — and if there are any opportunities to take advantage of.”
The TD Ameritrade (AMTD) Mobile Trader app launched in 2012 and user growth has soared 128% since then.
“The mobile devices give our clients the flexibility to interact [with the app] anytime and anywhere,” said JJ Kinahan, chief market strategist at TD Ameritrade, adding that users can trade stocks, options, futures, Forex and mutual funds on the app.
The company’s other app, the TD Ameritrade Mobile app, launched in 2010. User growth is up 305% over the past five years.
Now it’s disruptor fintech firms blazing trails and using mobile devices to take Wall Street to all corners of the globe.
Robinhood is offering free trades on its app and has linked up with Baidu’s Stockmaster finance app to bring no fee trades to China. Robinhood’s value is reportedly near $1.3 billion, showing how everyday investors to enterprising corporations are finding ways to profit from the phone in your pocket.
More from TheStreet:
- Here’s What Apple May Look Like in 10 Years
- Here Is Where the S&P 500 May End Up in the Second Half
- This Is Why Nvidia and Advanced Micro Devices Shares Are on Fire
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