As of 2nd August 2018, Apple became the first company to be worth $1 trillion. Apple really is the giant that keeps growing.
Apple was always the front-runner to reach this significant milestone with Amazon and Microsoft being close contenders. Its market value and the share price had been rising off the back of a better than expected 3rd quarter results. Its quarter results showed how its iPhone X enabled it to bring in the boosted results it delivered. As Thursday’s market closed Apple share price hit a record high of $207.39 taking its market capitalization over the $1 trillion thresholds.
This may seem impressive, but Apples’ growth since its beginning in 1976 by the late Steve Jobs is even more remarkable. Initially, it was known for its computers in the form of the well known Mac brand. It focused on design and desirability and there was higher attention to detail in its products in comparison to the PC manufacturers. Along with quality the Apple brand became known by the general public. Macs found a place for individuals with specific needs but it didn’t really come across as a day to day device PC’s were known to be. The real turning point came in October 2001, when they ventured out of the computer business and launched a music player in the form of the iPod. The iPod was a product that yet its user carry their whole music library in one place in a device that was intuitive to use and looked beautiful. The general public caught on to this and from there on out Apple began diversifying its product range and started the incredible growth.
In 2007 Steve Jobs revolutionised the mobile phone marketplace with the introduction of the iPhone. The device got rid of all the number keys and replaced it with one clickable button. It introduced to the world the use of Apps for specific functions, from which the slogan “There’s an App for that” came about. The iPhone combined making calls, browsing the web and listening to music in one singular portable device. From this point on Apple tapped into a market that gave them revenue streams both via hardware and software. Jump ahead 10 years from the iPhone, Apple’s brand and its products have pushed it to the $1 trillion mark making it the first company to do so.
Apple has clearly shown the rest of the business world how to make products, advertise and revolutionize their sector. The ability to diversify what they have to offer and do so in a unique and streamlined manner. Even at a $1tn value investors still, claim Apple stocks are worth buying into and they only see further growth occurring in the future.
Tech Off Melon!