Apple Inc.

Coordinates: 37°20′06″N 122°00′32″W / 37.3349°N 122.0090°W / 37.3349; -122.0090

Apple Inc.
Formerly
  • Apple Computer Company[1]
    (1976–1977)
  • Apple Computer, Inc.[2]
    (1977–2007)
TypePublic
ISINUS0378331005
Industry
FoundedApril 1, 1976; 45 years ago (1976-04-01)
Founders
Headquarters1 Apple Park Way
Cupertino, California,
U.S.
Number of locations
516 retail stores[3] (2021)
Area served
Worldwide
Key people
Products
Services
RevenueIncrease US$274.515 billion[4] (2020)
Increase US$66.288 billion[4] (2020)
Increase US$57.411 billion[4] (2020)
Total assetsDecrease US$323.888 billion[4] (2020)
Total equityDecrease US$65.339 billion[4] (2020)
Number of employees
147,000[5] (2020)
Subsidiaries
Websitewww.apple.com

Apple Inc. is an American multinational technology company that specializes in consumer electronics, computer software and online services. Apple is the largest information technology company by revenue (totaling $274.5 billion in 2020) and, since January 2021, the world's most valuable company. As of 2021, Apple is the fourth-largest PC vendor by unit sales[9] and fourth-largest smartphone manufacturer.[10][11] It is one of the Big Five American information technology companies, alongside Amazon, Google (Alphabet), Facebook (Meta), and Microsoft.[12][13][14]

Apple was founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne to develop and sell Wozniak's Apple I personal computer. It was incorporated by Jobs and Wozniak as Apple Computer, Inc. in 1977, and sales of its computers, among them the Apple II, grew quickly. It went public in 1980, to instant financial success. Over the next few years, Apple shipped new computers featuring innovative graphical user interfaces, such as the original Macintosh, announced in a critically acclaimed advertisement, "1984", directed by Ridley Scott. The high cost of its products and limited application library caused problems, as did power struggles between executives. In 1985, Wozniak departed Apple amicably,[15] while Jobs resigned to found NeXT, taking some Apple employees with him.[16]

As the market for personal computers expanded and evolved throughout the 1990s, Apple lost considerable market share to the lower-priced duopoly of Microsoft Windows on Intel PC clones. The board recruited CEO Gil Amelio, who prepared the struggling company for eventual success with extensive reforms, product focus and layoffs in his 500-day tenure. In 1997, Amelio bought NeXT to resolve Apple's unsuccessful operating-system strategy and entice Jobs back to the company; he replaced Amelio. Apple became profitable again through a number of tactics. First, a revitalizing campaign called "Think different", and by launching the iMac and iPod. In 2001, it opened a retail chain, the Apple Stores, and has acquired numerous companies to broaden its software portfolio. In 2007, the company launched the iPhone to critical acclaim and financial success. Jobs resigned in 2011 for health reasons, and died two months later. He was succeeded as CEO by Tim Cook.

The company receives significant criticism regarding the labor practices of its contractors, its environmental practices, and its business ethics, including anti-competitive behavior and materials sourcing. In August 2018, Apple became the first publicly traded U.S. company to be valued at over $1 trillion,[17][18] and, two years later, the first valued at over $2 trillion.[19][20] The company enjoys a high level of brand loyalty, and is ranked as the world's most valuable brand; as of January 2021, there are 1.65 billion Apple products in active use.[21]

  1. ^ Certificate of Amendment of Articles of Incorporation, November 17, 1977. California Secretary of State.
  2. ^ Certificate of Ownership, January 9, 2007. California Secretary of State.
  3. ^ "Apple Retail Store – Store List". Apple. Retrieved June 3, 2020.
  4. ^ a b c d e "Consolidated Financial Statements for Q4 FY20" (PDF). Apple Inc. October 29, 2020. Retrieved October 30, 2020.
  5. ^ "Apple 10-K Report FY2020" (PDF). September 26, 2020. Retrieved January 12, 2021.
  6. ^ Taylor, Harriet (August 30, 2016). "How Apple managed to pay such a low tax rate in Ireland". CNBC. Retrieved January 9, 2017.
  7. ^ "Apple Looks to Services to Move Beyond iPhone Price Ceiling". Bloomberg.com. Bloomberg L.P. January 13, 2020.
  8. ^ Koblin, John (March 25, 2018). "Apple Goes to Hollywood. Will Its Story Have a Happy Ending?". The New York Times.
  9. ^ "Gartner Says Worldwide PC Shipments Grew 10.7% in Fourth Quarter of 2020 and 4.8% for the Year". Gartner. January 11, 2021. Retrieved January 12, 2021.
  10. ^ "Global Smartphone Quarterly Market Data (2018Q1 – 2020Q3)". Counterpoint Technology Market Research. November 20, 2020. Retrieved November 20, 2020.
  11. ^ "Huawei beats Apple to become second-largest smartphone maker". The Guardian. August 3, 2018. Retrieved August 3, 2018.
  12. ^ Rivas, Teresa. "Ranking The Big Four Tech Stocks: Google Is No. 1, Apple Comes In Last". www.barrons.com. Archived from the original on December 28, 2018. Retrieved December 27, 2018.
  13. ^ Ritholtz, Barry (October 31, 2017). "The Big Four of Technology". Bloomberg.com. Archived from the original on June 26, 2019. Retrieved December 27, 2018.
  14. ^ "What is GAFA (the Big Four)? - Definition from WhatIs.com". WhatIs.com. Retrieved March 5, 2020.
  15. ^ "I Never Left Apple". Offally Woz. January 3, 2018. Retrieved October 2, 2018.
  16. ^ Cite error: The named reference rice19850415 was invoked but never defined (see the help page).
  17. ^ Cite error: The named reference 1t-CNBC was invoked but never defined (see the help page).
  18. ^ Cite error: The named reference 1t-Guardian was invoked but never defined (see the help page).
  19. ^ "Apple first US company to be valued at $2tn". BBC News. August 19, 2020. Retrieved August 19, 2020.
  20. ^ Nicas, Jack (August 19, 2020). "Apple Reaches $2 Trillion, Punctuating Big Tech's Grip". The New York Times. Retrieved August 21, 2020.
  21. ^ "Apple Now Has 1.65 Billion Active Devices Worldwide". Retrieved January 27, 2021.

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