Apple Inc.
is an American multinational technology
company headquartered in Cupertino, California, that
designs, develops, and sells consumer
electronics, computer software, and online services. It is
considered one of the Big Tech technology companies,
alongside Amazon, Google, Microsoft and Facebook.[6][7][8]
The company's hardware products include
the iPhone smartphone, the iPad tablet computer,
the Mac personal computer, the iPod portable media
player, the Apple Watch smartwatch, the Apple TV digital
media player, the AirPods wireless earbuds and
the HomePod smart speaker. Apple's software
includes macOS, iOS, iPadOS, watchOS,
and tvOS operating systems, the iTunes media player,
the Safari web browser, the Shazam music identifier, and
the iLife and iWork creativity and productivity suites, as
well as professional applications like Final Cut Pro, Logic
Pro, and Xcode. Its online services include the iTunes
Store, the iOS App Store, Mac App Store, Apple
Music, Apple TV+, iMessage, and iCloud. Other services
include Apple Store, Genius Bar, AppleCare, Apple
Pay, Apple Pay Cash, and Apple Card.
Apple was founded by Steve Jobs, Steve Wozniak,
and Ronald Wayne in April 1976 to develop and sell
Wozniak's Apple I personal computer, though Wayne sold
his share back within 12 days. It was incorporated
as Apple Computer, Inc., in January 1977, and sales of
its computers, including the Apple II, grew quickly. Within
a few years, Jobs and Wozniak had hired a staff of
computer designers and had a production line. Apple 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 in 1984, and Apple's marketing advertisements
for its products received widespread critical acclaim.
However, the high price of its products and limited
application library caused problems, as did power
struggles between executives. In 1985, Wozniak departed
Apple amicably and remained an honorary employee,
[9]
while Jobs and others resigned to found NeXT.[10]
As the market for personal computers expanded and
evolved through the 1990s, Apple lost market share to the
lower-priced duopoly of Microsoft Windows on Intel PC
clones. The board recruited CEO Gil Amelio to what would
be a 500-day charge for him to rehabilitate the financially
troubled company—reshaping it with layoffs, executive
restructuring, and product focus. In 1997, he led Apple to
buy NeXT, solving the desperately failed operating system
strategy and bringing Jobs back. Jobs pensively regained
leadership status, becoming CEO in 2000. Apple swiftly
returned to profitability under the revitalizing Think
different campaign, as he rebuilt Apple's status by
launching the iMac in 1998, opening the retail chain
of Apple Stores in 2001, and acquiring numerous
companies to broaden the software portfolio. In January
2007, Jobs renamed the company Apple Inc., reflecting its
shifted focus toward consumer electronics, and launched
the iPhone to great critical acclaim and financial success.
In August 2011, Jobs resigned as CEO due to health
complications, and Tim Cook became the new CEO. Two
months later, Jobs died, marking the end of an era for the
company. In June 2019, Jony Ive, Apple's CDO, left the
company to start his own firm, but stated he would work
with Apple as its primary client.
Apple is well known for its size and revenues. Its
worldwide annual revenue totaled $265 billion for the
2018 fiscal year. Apple is the world's largest technology
company by revenue and one of the world's most valuable
companies. It is also the world's third-largest mobile phone
manufacturer after Samsung and Huawei.[11] In August
2018, Apple became the first publicly traded U.S.
company to be valued at over $1 trillion.[12][13] The company
employs 123,000 full-time employees[14] and maintains
510 retail stores in 25 countries as of 2020.[15] It operates
the iTunes Store, which is the world's largest music
retailer. As of January 2020, more than 1.5 billion Apple
products are actively in use worldwide.[16] The company
also has a high level of brand loyalty and is ranked as the
world's most valuable brand. However, Apple receives
significant criticism regarding the labor practices of its
contractors, its environmental practices and unethical
business practices, including anti-competitive behavior, as
well as the origins of source materials.
