Trillion Dollar Company- Apple
Apple, The name is not just a ruler in the fruit world but also in the tech world. Apple created such a hype that many people around the world sold their kidneys to buy an iPhone. That craze hasn’t gone vain, Apple Inc. emerged as the First trillion dollar company in the world publicly. It means Apple’s stock market value alone is larger than many small countries economies.
Apple’s graph is pretty interesting, from a 6 billion dollar company in 2001 to 1 trillion dollar company in 2018. iPhone changed everything for Apple, even though it is a personal computer company at first it launched iPod in 2001 which is a revolution at that time, people used to carry big bulky walkmans with cd’s to listen to music. But the iPod is small and sleek and it doesn’t need any cd. It changed the way people look at Apple and it became an instant success. In 2007 Apple’s founder Steve Jobs introduced the iPhone to the world. It creates history. Apple will not be Apple without an iPhone, even now it is the world’s leading smartphone. Ater iPhone Apple launched iPad 2010, even now it is the ruler in the tablet space.
It takes only 1 year for Apple to reach from 174 billion to 624 billion in the period of 2010-11. Tim Cook who is the CEO of Apple replaced Steve Jobs as CEO in 2011 too.
Even though Apple is the most valued company in the world, companies like Amazon and Microsoft is not far behind. Even when it comes to stocks, analysts say Amazon and Microsoft are more profitable than Apple’s. They may cross the one trillion mark soon but Apple happened to be the first.
Success Secret of trillion dollar company
One of the main reasons for Apple to become that strong is the availability of their products. If we take Huawei, which is the 2nd largest mobile manufacturer in the world, Its products are not available in many markets including the United States, even Xiaomi is based on some regions only, but when we take Apple it is available almost everywhere, and it charges a premium for its products. Even though the number of people buying iPhones is decreasing slightly every year from 2 years but Apple is making tons of money by increasing the price of their products. That price hike alone is making 60 billion dollars profit every year.
Rise and Fall of Apple
Apple’s founder Steve Jobs resigned from that company in the year 1985 due to some disputes with then CEO John Scully who was convinced and recruited by Steve Jobs himself. Steve returned after 1997, at that time everyone is assuming that Apple will be dead, It almost went bankrupt but after Jobs became CEO everything is started changing. From losing its market share to Bill Gates’ Microsoft to becoming the first public company to reach 1 Trillion Dollar value, Apple has come a long way.
One thing Apple did right is creating hype. No matter what product they release it will create a huge buzz in the market, TV channels, Social Media, Newspapers covers it. Apart from that Apple also invests hugely in marketing and promotion. Even their product names are very particular and say it is from Apple. They created their own ecosystem and got succeeded in making customers be in that ecosystem. No matter what they release, their product will either be exclusive to Apple products or their product will give more and work better with Apple products. If we take an Apple watch, it is good for an IOS user not for an Android user, likewise Airpods, Home pod, they all work better with IOS or MAC OS but not with Android or Windows, even if they work they will miss out many features.
For whatever reasons, maybe it’s designed, maybe its user interface or maybe its build quality or maybe because of its advertising and who knows maybe because of its name, Apple became what it is today. It has a huge fan base and loyal customers who use nothing but Apple. Even if someone is not an Apple fan they still have to admire what they are doing. Ironically now most of the tech world copy Apple if it removes the headphone jack from its iPhone many companies also started removing it, After iPhone X comes with a notch design many manufacturers are doing the same too even though it is their biggest competitor. No wonder it came The world’s first trillion dollar company.
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