Having only been 2 years since hitting $1 trillion in value, Apple has returned yet again with an outstanding accomplishment that is recognized far beyond silicon valley. Apple is the first American company to have hit this milestone even during the current state of the world economy having taken a hit due to the worldwide pandemic. Apple’s stock is nearly up 60% this year leaving other big tech firms such as Amazon ($1.7 trillion), Microsoft ($1.6 trillion) and Google parent Alphabet ($1 trillion) in the dust.
Apple has been making numerous changes this year with one of their biggest moves being to start manufacturing ARM based chips for Macbooks and creating their own silicon chips known as Apple Silicon. the company is also said to release their own cloud based gaming service which explains why Google Stadia was not available on the IOS store.
Even considering the battle between Fortnite and Apple the tech giant is still standing strong.A lawsuit is said to be in place due to Apple’s refusal to reduce the 30% cut taken from all transactions made through the IOS store. This ‘Apple Tax’ has been a huge contributing factor towards the growth of the company as it racks up 270 billion through this alone in 2019.
The company is said to be taking a more independent approach in the future by expanding their overall resources and dominating every foreseeable aspect of the tech industry. Regardless of the money making schemes taken by Apple the tech giant has recently made it significantly easier for third party repair shops to fix Apple products buy supplying official parts. The trillion dollar company has also taken the initiative by setting up training resources to simplify repairs for consumers. This will break the long streak of Apple being infamous for making after purchase services a serious hassle for most consumers.
“Sometimes when you innovate, you make mistakes. It is best to admit them quickly, and get on with improving your other innovations.”
― Steve Jobs
The History of Apple
Apple was put in the spotlight due to the creation of the IPhone, a innovation that changed the handset industry at the time. Steve Jobs had just returned to Apple at the time and was originally unwilling to take the risk in the mobile phone industry due to the high level of complexity tied to the device. The market space at the time for mobile devices were dominated by companies such as Blackberry and Nokia. Samsung were also merely in an experimental phone with their releases pushed towards a niche group of tech enthusiasts.
The future of the IPhone was merely by chance due to a Apple employee by the name of Tina Huang had brought in a FingerWorks device as she had a wrist injury. This company FingerWorks was founded by John Elias and Wayne Westerman of the University of Delaware in 1998, it produced a line of multi-touch products including the iGesture Pad and the TouchStream keyboard, which were particularly helpful for people suffering from RSI and other medical conditions. This had brought forward the use of multi touch interaction for the IPhone.
However the implementation took far longer than expected due to the multiple complications the team had faced. The original circulations regarding the creation of the IPhone started in the year 2000 but it was only in 2007 when the product had hit the market. A company that was 90 days away from bankruptcy in 1997 become the first to reach $1 trillion 21 years later then doubling it to $2 trillion in merely 2 years due to an idea that took 7 years to manifest into reality.
“Being the richest man in the cemetery doesn’t matter to me. Going to bed at night saying we’ve done something wonderful… that’s what matters to me.”
― Steve Jobs