Apple Inc. (NASDAQ:AAPL) stock jumped 18 percent since announcing a 7-for-1 stock split with earnings last week, coming off the firm’s earnings announcement, far outpacing gains in the S&P 500 over a similar period of time.

Apple

This could lead to another bull run in the stock, something Apple Inc. (NASDAQ:AAPL) investors have grown to expect as the stock has been a market leader. “I think there’s still another leg up here, once these new product categories come out. It was over penalized on the way down. The simple answer is I don’t think it’s overvalued,” said Gene Munster in a CNBC interview, who follows Apple at Piper Jaffray.

George Jetson smart home

The company today announced a “George Jetson smart home” today that will elongate the company’s reach to everything from smart ovens, dishwashers, TVs, security systems, home temperature and more – all controlled by the user’s iPhone.

The Financial Times is reporting that Apple Inc. (NASDAQ:AAPL) is developing an operating platform that operates appliances in a “connected home.”

Home automation systems typically have required significant structural work, an issue that Apple could provide significant automation.

Samsung, Google and Apple compete for control of the networked house

A significant shift in Apple Inc. (NASDAQ:AAPL) could come in how it packages and sells the new service. Speculation is Apple might install its operating system in other devices and sell its product through third party manufacturers for the first time. A primary point of differentiation between Apple and Microsoft Corporation (NASDAQ:MSFT) was the fact Apple manufactured and sold its product. Microsoft, on the other hand, sold its software into products manufactured by third party partners.

Apple Inc. (NASDAQ:AAPL)’s home automation business competes with Google Inc (NASDAQ:GOOG) (NASDAQ:GOOGL)’s nest, which the company purchased for $3.2 billion this year. Nest makes thermostats and security systems but speculation is the offering could expand significantly. Strategy could be for a company to fight for control over the entire house and then influence the products that enter that house. Once a house selected an Apple operating system, for instance, that could be the dominate system in all appliances in the home.

In addition to Google Inc (NASDAQ:GOOG) (NASDAQ:GOOGL), Samsung Electronics Co., Ltd. (LON:BC94) (KRX:005930) is a rival in the market as well, developing a range of smart appliances, TVs and washing machines, all operated through smartphones and watches.

Carl Icahn gave his blessing regarding the developments, saying “Believe we’ll also be happy when we see new products,” he tweeted.

New products are great, but its the phone that matters in the near term

While talk about the future of the connected home makes for good copy, the real difference in the near term could be the latest development in the iPhone, which is offering a larger screen experience.