Apple, iPhone, hits $1 Trillion in Value

Apple iphone

Apple has come a long way from Steve Job’s garage. It’s now valued over $1 Trillion, the first US Company to ever achieve that height. Other tech giants are not so far behind Apple today with Amazon, Alphabet/Google and Microsoft valued over $800 billion each.

From the grasps of bankruptcy in 1997 to overtaking Exxon Mobil as the most valuable public company in 2011, and achieving a trillion dollar success 7 years after, Apple is nothing less than phenomenal. The Apple iPhone which has sold billions of units across the world accounts for two-thirds of it’s revenue.

Apple, Steve Jobs in 1984
Steve Jobs, left, unveils an Apple IIc computer in 1984 alongside John Sculley, then president and chief executive, and co-founder Steve Wozniak

 

Here’s a really quick recap of how Apple (+2.92%) became the trillion dollar juggernaut it is. Ready? Let’s time travel.

1976: Steve Jobs and Steve Wozniak (alongside a guy named Ronald Wayne) found the company. Their first product: the Apple I computer, built by Wozniak.

1984: Apple launches the Macintosh personal computer.

1985: There’s a power struggle between Jobs and CEO John Sculley. Steve Jobs resigns and founds hardware and software maker NeXT.

1997: Apple buys NeXT and brings back Steve Jobs, who becomes interim CEO. Jobs later said the company was 90 days from going bankrupt then (it was worth less than $3 billion in 1996).

1998: This is where things get fun. Apple releases the colorful iMac computer, designed by the legendary Jony Ive.

Apple iMac
Apple iMac

2001: Apple launches the iPod.

2007: Up until this year, there was no such thing as an iPhone. Then, Steve Jobs takes the stage at the Macworld Expo, and ushers in the smartphone era. Apple is worth $73.4 billion.

2011: Steve Jobs dies after a battle with pancreatic cancer. He is succeeded by the current CEO, Tim Cook. Apple also passes ExxonMobil as the world’s most valuable public company.

2018: As global demand for smartphones peaks, Apple looks for other revenue sources to maintain growth. Services (Apple Music, App Store, Apple Pay, etc.)…it’s your turn in the spotlight.

apple iphone 8

Other companies that may reach a trillion dollar valuation in the near future include Google’s parent company Alphabet (currently: $845bn), Amazon ($870bn), and Microsoft ($815bn). Then again, maybe none of the companies will get there. Investors expected Cisco and Microsoft to top that valuation in the late 1990s — but those dreams were shattered alongside the tech bubble burst in March 2000.

It took Apple 42 years to reach $1 trillion in value. How many years will it take to reach $1 quadrillion? #FoodForThought

 

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