The story of Apple
One of the most innovative companies, it is safe to say the world would be different without it. Take a look at the company's history
Apple is one of the most valuable and influential companies in recent years. However, the company’s story is as interesting as the products it sells.
So, today, let’s take a look at how Apple was born and how it became such a spectacular name in the business.
With its headquarters in Cupertino, California, Apple Inc. is a global technology company with an emphasis on consumer products, software, and online services.
As of June 2022, Apple was the largest company in the world by market capitalization, the fourth-largest vendor of personal computers by unit sales, the second-largest manufacturer of mobile phones, and the biggest supplier of technology overall (with revenues of US$365.8 billion in 2021).
One of the Big Five American IT companies, along with Alphabet, Amazon, Microsoft, and Meta, is this one.
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Apple’s early years
Steve Jobs and Steve Wozniak, two college dropouts with a mission to transform how people saw computers, created Apple Computers, Inc. on April 1, 1976.
Computers needed to be made small enough for people to use them in their homes or workplaces, according to Jobs and Wozniak.
Simply put, they desired a user-friendly computer.
In the beginning, Jobs and Wozniak constructed the Apple I in Jobs’ garage and sold them without a display, keyboard, or case (which they decided to add on in 1977).
On January 3, 1977, Apple Computer, Inc. was formally established. Millionaire Mike Markkula gave Jobs and Wozniak crucial business advice and $250,000 (which will be worth $1,117,930 in 2021) in funding when Apple was founded.
Revenues increased quickly throughout the first five years of business, doubling almost every four months.
Annual sales increased by an average growth rate of 533% from $775,000 to $118 million between September 1977 and September 1980.
The Macintosh Phenomenom
When Jobs and a number of Apple employees, notably human-computer interface specialist Jef Raskin, visited Xerox PARC in December 1979 to watch a demonstration of the Xerox Alto, a computer with a graphical user interface, it was a pivotal milestone in the development of the company.
In exchange for the opportunity to purchase 100,000 shares of Apple at the pre-IPO price of $10 per share, Xerox allowed Apple engineers three days of access to the PARC facilities (22.4 million split-adjusted shares as of September 3, 2022).
Following the demonstration, Jobs was immediately persuaded that all upcoming computers would have a graphical user interface, and work on the GUI for the Apple Lisa, which was later given Jobs’ daughter’s name, started.
The Macintosh was the first personal computer offered without a programming language when it was introduced by Apple in 1984.
The $1.5 million Ridley Scott-directed television commercial “1984”, which aired on January 22, 1984, during the third quarter of Super Bowl XVIII, served as a marker for the film’s launch.
This has now come to be recognized as a turning point in Apple’s development and has been dubbed a “masterpiece” by CNN and one of the greatest TV commercials of all time by TV Guide.
The success with phones
Jobs declared that Apple Computer, Inc. will now be known as “Apple Inc.” because the business has moved its focus from computers to consumer electronics during his keynote address at the Macworld Expo on January 9, 2007.
The iPhone and Apple TV were both introduced at this presentation. During the first 30 hours of sales, the company sold 270,000 iPhone units, and the product was hailed as “a game changer for the industry”
If you stop to think about it now, it was this moment that began the smartphone era, since after that, all the other phones tried to create a better (or at least competitive) device that could compete with iPhone.
Post Jobs era
The passing of Steve Jobs on October 5, 2011, signaled the end of an era for Apple.
On January 19, 2012, Apple’s Phil Schiller unveiled iBooks Textbooks for iOS and iBook Author for Mac OS X in New York City, marking the company’s first significant product launch after the death of Steve Jobs.
Jobs declared in his autobiography, “Jobs,” that he aimed to revolutionize the publishing and educational sectors.
When Apple’s share price briefly surpassed $467.77 on August 19, 2020, it became the first US firm to have a market capitalization of $2 trillion.
On June 22, 2020, Apple stated it would stop using Intel CPUs in the Mac and instead switch to internally made processors during its annual WWDC keynote conference.
The MacBook Air, MacBook Pro, and Mac Mini became the first Mac products to use an Apple-designed processor, the Apple M1, on November 10, 2020.
According to The Wall Street Journal, Apple’s initiative to create its own chips helped the company become more profitable and better equipped to handle the semiconductor shortage that developed during the pandemic era.
Sales of Mac computers with M1 chips also increased significantly in 2020 and 2021 as a result. It also encouraged other businesses to follow a similar course, including Tesla, Amazon, and Meta Platforms.
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