Chart of the Day: Apple’s road to $1 trillion
The silicon valley tech giant has been the marvel of product design and branding for the last 30 years. This has seen Apple become the first private company of any type to reach a value of $1 trillion and the way have done it is nothing short of incredible.
With the company continuing with their plans to dominate the world of tech, let us take a look back at how they got there. However, let’s not go all the way back to the start. We’ll start in 2000 when they were “only” worth $5bn and work out where the other $1,014bn came from 😳.
Not many people realize that it has only taken them 18 years to make this milestone as Apple has been around since the 80’s. The return of ousted CEO Steve Jobs in 1997 would see the beginning of the turn around for the company after a difficult early to mid 90’s.
The launch of iPod + iTunes in 2001 is where the magic really started to happen as it laid the basis for the business model. Having the products rely on connectivity, but coupled with high-end UX, is how end-to-end control was achieved. The iPod was the highest selling MP3 player and the sales of tracks through iTunes made an extra revenue stream for them.
The next big jump after the “i” series of desktops and laptops was the introduction of the iPhone in 2007. This 11 period saw a rise of $800bn and included the sale of the iPhone 6 which is to date the most sold phone ever.
Steve Jobs passed away in 2011 which handed over control to Tim Cook. Many say that innovation died at Apple as the only notable addition from then was the Apple watch in 2015. As innovation died, generating revenue came to the forefront, even with Apple seeing impressive growth from 2007.
In the last 7 years, Tim Cook added $600bn in Apple’s value and that is a shareholders dream as they now stand as the most valuable private company ever.
Source – Statista
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