Apple Inc. is now the first company with US$1 trillion and publically listed US-based Company on Thursday. High demand for iPhone over the decade has fuelled the growth of the company from a small player of personal computers to a global player and powerhouse players for entertainment and communications.
Stocks of the company jumped by 2.8% to as high as US$207.05 and rise from 9% from Tuesday when it reported about the June-quarter which is much greater than expectations and the company bought back around US$20 bn of its own shares.
The company was started in a garage by its co-founder Steve Jobs in 1976 and recently Apple pushed revenue beyond the expectation. Over the years, the company has changed the way of connecting with their consumers.
Silicon Valley stalwart’s stock has increased by more than 50,000% from 1980 – their initial offering. During that time, Apple changed their product by selling Mac personal computers to becoming a legend to start the mobile revolution.
Jobs died in 2011 after that Tim Cook handled the business and he succeeds, he doubled company’s profit and developed advanced products but fought with the copy of device and replication of devices from past few years.
Revenue of the company has been increased with 11-times from the launch of iPhone series. Their net income has become the twice of the rate to reach US$48.4 bn which makes them the most profitable and publically-listed US-based company.
Apple could lose its lead from the companies like Alphabet Inc and Amazon.com if they would not launch any major new product.