When one thinks of the word apple, barely anyone would associate it with the fruit. Instead, many would instantly relate it to the tech conglomerate in the United States. As a brand, Apple has become a household name with its steady stream of iPhones and MacBooks, making it one of the most sought-after products in the world.
Many would queue for days before the launch of its latest iPhones and some would pay top dollar to be the first to own one. That is how tight Apple has a grip on its consumer market. It recently announced its third-quarter earnings report earlier this week, closing at US$207.39 per share. With a 2.92 percent stock gain in Q3, Apple has officially become the first publicly traded United States company to hit a market cap of US$1 trillion in value.
According to Apple’s Fiscal 2018 Q3 report, it has set a new record in the month of June, which is known to be the slowest time of the year. Be that as it may, Apple still managed to bring in a total revenue of US$53.3 billion. Q3 also marks a new revenue record for Apple services at US$9.5 billion. International sales also accounted for 60% of the quarter’s revenue.
Apple has since gone on to project its fiscal 2018 Q4 numbers, which includes revenue between US$60 to US$62 billion. It also expects a gross profit margin between 38 and 38.5 percent.
Apple’s history in the ever-blooming tech industry has been well documented through many movies over the years but aside from its fanboys, not many people would know about its humble beginnings. In April 1976, Steve Jobs along with Steve Wozniak and Ronald Wayne co-founded Apple in Jobs’ garage of his childhood home. Known as the Apple Computer Company back then, the main focus of Apple was placed solely on computers with the first three known as Apple I, Apple II, and Apple III. This was to compete against the rise of both IBM and Microsoft in the business and corporate computing market.
But it wasn’t until the 1980s did Apple gain recognition with its Macintosh series. Sadly, this was also the period where Jobs and Wozniak left Apple to pursue other ventures. This left Apple in a vulnerable position with consistent changes in CEO, up until 1996 when Jobs was brought back into the foray. From then on, it was a steady ascension for Apple with the launch of many successful firsts, including the first ever iMac, the iPod, and of course, the iPhone.
With Jobs being at the forefront of Apple’s technological innovations and breakthroughs, it’s no wonder why Apple is considered to be one of the top three tech giants of today. While it faces plenty of competition from the East, Apple still maintains a steady stream of support from its many users, due to its easy-to-use ecosystem of Apple devices.
Ever since his passing in October 2011, Apple has since been headed by its CEO Tim Cook who is supported by former president and CEO of YSL, Paul Deneve as the vice president of Apple. Former Burberry executive Angela Ahrendts has also moved to Apple as its senior vice president.
To this day, Apple remains one of the leaders in the world of technology. By introducing new and innovative technology year in and year out, it will take a miracle for another tech conglomerate to keep Apple in it’s corner for good.