It's tech-focused, US founded, and full of money
For centuries, the most valuable companies in the world revolved around banking, oil, and commodities.
Over the last few decades, there has been a shift towards technology-based companies as they have become a major impact in any household or business. This has allowed these tech companies to thrive, creating an ecosystem that has never been seen before, especially with the rise of startups.
This has meant Apple has managed to grow and eventually breach the trillion-dollar capitalization mark, and with their globalized efforts, effectively become a household name.
But how did Apple grow to such a big tech giant it is today?
Let's take a brief look at its history as well as some facts about it.
First Public Company To Reach $1 Trillion
Date: August 2nd 2018
The History Of Apple Computer Inc.
Everyone has either owned an apple product or know someone who owns one. Formerly known as Apple Computers Inc, was founded by no other than Steve Jobs and Steve Wozniak (And Ronald Wayne but he left the company after only 2 weeks in) on April 1st, 1976.
According to Wozniak, Jobs proposed the name “Apple Computer” due to a few reasons, one being that he just returned from a visit from a farm.
“It sounded fun, spirited and not intimidating … plus, it would get us ahead of Atari in the phone book.” — Steve Jobs
After introducing the first iterations of the Apple I to II which were successful (and the slight failure of Apple III), Apple went public on December 12th 1980.
Following this event, one of the most famous launches from Apple in 1984 — The Macintosh was developed and launched at a retail price of $2495. Many thought it was too radical and eccentric and by the early 1985s, it was clear it had lost to IBM’s own computing unit.
Jobs Leaves Apple — and returns again
This gave way for Steve Jobs to be ousted from the company by then CEO John Sculley and Wozniak himself had left after not agreeing in the company’s vision and goals.
Steve, however, went to form his own company NeXT which was ultimately bought by Apple and helped set up the Mac OS X operating system.
With this, he was back in the company and was made interim CEO and then eventual CEO where he ran the company till 2011 when he, unfortunately, lost his battle with pancreatic cancer.
What is Apple’s most successful product?
We all know what Apple is famous for.
It’s legendary launches in the early 1980s paved way for a range of technologies.
This includes products like the Macbook, iOS, iPods, iPads and more recently the Apple Watch.
But what reigns supreme over everything else?
The Answer is: The iPhone
You may argue with this point but let’s take a look back.
It accounts for the majority of Apple’s total revenue. In 2019, it counted for around 50–60% of Apple’s total business and this figure was much higher if you count earlier years.
Over billions of the iPhone have been sold including iOS products that were spun off.
It also did one major thing that other US tech companies have failed (including Microsoft, Google, Uber, Amazon and more) — it managed to penetrate the Chinese market.
Most importantly, it was one of the most innovative products at the time. A touch screen phone that was your MP3, Phone, Internet device and more was revolutionary at the time.
I remember I was mindblown when we all watched the infamous Steve Job’s presentation.
It redefined mobile computing and pushed forward a new era of smartphones.
Today Apple still has a huge tonne of cash ready to purchase a new generation of software and products. Historically, Apple has not made huge dents in other areas of the market beyond its smartphones, tablets, and laptops.
More recently, it has started to chase after other segments including self-driving cars.
It will be exciting to see how Apple handles the fast-changing tech landscape of 2021 and beyond.