Apple Inc

Apple Inc. is an American multinational technology company headquartered in Cupertino, California, United States. Apple is the largest technology company by revenue (totaling US$365.8 billion in 2021) and, as of June 2022, is the world's biggest company by market capitalisation, the fourth-largest personal computer vendor by unit sales and the second-largest mobile phone manufacturer. It is one of the Big Five American information technology companies, alongside Alphabet, Amazon, Meta, and Microsoft.

Apple was founded as Apple Computer Company on April 1, 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 the company's next computer, the Apple II, became a best seller and one of the first mass-produced microcomputers. Apple went public in 1980 to instant financial success. The company developed computers featuring innovative graphical user interfaces, including the 1984 original Macintosh, announced that year in a critically acclaimed advertisement. By 1985, the high cost of its products and power struggles between executives caused problems. Wozniak stepped back from Apple amicably and pursued other ventures, while Jobs resigned bitterly and founded NeXT, taking some Apple employees with him.

Apple became the first publicly traded U.S. company to be valued at over $1 trillion in August 2018, then $2 trillion in August 2020, and most recently $3 trillion in January 2022. 

Apple Computer Company was founded on April 1, 1976, by Steve Jobs, Steve Wozniak, and Ronald Wayne as a partnership. The company's first product was the Apple I, a computer designed and hand-built entirely by Wozniak. To finance its creation, Jobs sold his Volkswagen Bus, and Wozniak sold his HP-65 calculator. Wozniak debuted the first prototype Apple I at the Homebrew Computer Club in July 1976. The Apple I was sold as a motherboard with CPU, RAM, and basic textual-video chips—a base kit concept which would not yet be marketed as a complete personal computer. It went on sale soon after debut for US$666.66 (equivalent to $3,175 in 2021). Wozniak later said he was unaware of the coincidental mark of the beast in the number 666, and that he came up with the price because he liked "repeating digits".

Apple Computer, Inc. was incorporated on January 3, 1977, without Wayne, who had left and sold his share of the company back to Jobs and Wozniak for $800 only twelve days after having co-founded Apple. Multimillionaire Mike Markkula provided essential business expertise and funding of US$250,000 (equivalent to $1,117,930 in 2021) to Jobs and Wozniak during the incorporation of Apple. During the first five years of operations, revenues grew exponentially, doubling about every four months. Between September 1977 and September 1980, yearly sales grew from $775,000 to $118 million, an average annual growth rate of 533%.

The Apple II, also invented by Wozniak, was introduced on April 16, 1977, at the first West Coast Computer Faire. It differed from its major rivals, the TRS-80 and Commodore PET, because of its character cell-based colour graphics and open architecture. While the Apple I and early Apple II models used ordinary audio cassette tapes as storage devices, they were superseded by the introduction of a 5+1/4-inch floppy disk drive and interface called the Disk II in 1978. 

The Apple II was chosen to be the desktop platform for the first "killer application" of the business world: VisiCalc, a spreadsheet program released in 1979. VisiCalc created a business market for the Apple II and gave home users an additional reason to buy an Apple II: compatibility with the office. Before VisiCalc, Apple had been a distant third place competitor to Commodore and Tandy. By the end of the 1970s, Apple had become the leading computer manufacturer in the United States. 

On December 12, 1980, Apple (ticker symbol "AAPL") went public selling 4.6 million shares at $22 per share ($.10 per share when adjusting for stock splits as of September 3, 2022), generating over $100 million, which was more capital than any IPO since Ford Motor Company in 1956. By the end of the day, 300 millionaires were created, from a stock price of $29 per share and a market cap of $1.778 billion.

A critical moment in the company's history came in December 1979 when Jobs and several Apple employees, including human-computer interface expert Jef Raskin visited Xerox PARC in to see a demonstration of the Xerox Alto, a computer using a graphical user interface. Xerox granted Apple engineers three days of access to the PARC facilities in return for the option to buy 100,000 shares (22.4 million split-adjusted shares as of September 3, 2022) of Apple at the pre-IPO price of $10 a share. After the demonstration, Jobs was immediately convinced that all future computers would use a graphical user interface, and the development of a GUI began for the Apple Lisa, named after Jobs's daughter. 

The Lisa launched in 1983 and became the first personal computer sold to the public with a GUI, but was a commercial failure due to its high price and limited software titles.

In 1984, Apple launched the Macintosh, the first personal computer to be sold without a programming language. Its debut was signified by "1984", a $1.5 million television advertisement directed by Ridley Scott that aired during the third quarter of Super Bowl XVIII on January 22, 1984. This is now hailed as a watershed event for Apple's success and was called a "masterpiece" by CNN and one of the greatest TV advertisements of all time by TV Guide.

After the departures of Jobs and Wozniak, Sculley worked to improve the Macintosh in 1985 by quadrupling the RAM and introducing the LaserWriter, the first reasonably priced PostScript laser printer. PageMaker, an early desktop publishing application taking advantage of the PostScript language, was also released by Aldus Corporation in July 1985. It has been suggested that the combination of Macintosh, LaserWriter, and PageMaker was responsible for the creation of the desktop publishing market.

This dominant position in the desktop publishing market allowed the company to focus on higher price points, the so-called "high-right policy" named for the position on a chart of price vs. profits. Newer models selling at higher price points offered higher profit margin and appeared to have no effect on total sales as power users snapped up every increase in speed. Although some worried about pricing themselves out of the market, the high-right policy was in full force by the mid-1980s, notably due to Jean-Louis Gassée's mantra of "fifty-five or die", referring to the 55% profit margins of the Macintosh II. 

This policy began to backfire in the last years of the decade as desktop publishing programs appeared on PC clones that offered some or much of the same functionality as the Macintosh but at far lower price points. The company lost its dominant position in the desktop publishing market and estranged many of its original consumer customer base who could no longer afford its high-priced products. The Christmas season of 1989 was the first in the company's history to have declining sales, which led to a 20% drop in Apple's stock price.

The success of Apple's lower-cost consumer models, especially the LC, also led to the cannibalization of their higher-priced machines. To address this, management introduced several new brands, selling largely identical machines at different price points, aimed at different markets: the high-end Quadra models, the mid-range Centris line, and the consumer-marketed Performa series. This led to significant market confusion, as customers did not understand the difference between models. 

The early 1990s also saw the discontinuation of the Apple II series, which was expensive to produce, and the company felt was still taking sales away from lower-cost Macintosh models. After the launch of the LC, Apple began encouraging developers to create applications for Macintosh rather than Apple II, and authorised salespersons to direct consumers towards Macintosh and away from Apple II. The Apple IIe was discontinued in 1993. 

Throughout this period, Microsoft continued to gain market share with its Windows graphical user interface that it sold to manufacturers of generally less expensive PC clones. While the Macintosh was more expensive, it offered a more tightly integrated user experience, but the company struggled to make the case to consumers.

Apple also experimented with a number of other unsuccessful consumer-targeted products during the 1990s, including digital cameras, portable CD audio players, speakers, video game consoles, the eWorld online service, and TV appliances. Most notably, enormous resources were invested in the problem-plagued Newton tablet division, based on John Sculley's unrealistic market forecasts. 

With Michael Spindler as the CEO of Apple, IBM, and Motorola formed the AIM alliance in 1994 with the goal of creating a new computing platform (the PowerPC Reference Platform; PReP), which would use IBM and Motorola hardware coupled with Apple software. The AIM alliance hoped that PReP's performance and Apple's software would leave the PC far behind and thus counter the dominance of Windows.

In the wake of the alliance, Apple opened up to the idea of allowing Motorola and other companies to build Macintosh clones. Over the next two years, 75 distinct Macintosh clone models were introduced. However, by 1996 Apple executives were worried that the clones were cannibalising sales of their own high-end computers, where profit margins were highest. 

In 1996, Spindler was replaced by Gil Amelio as CEO. Hired for his reputation as a corporate rehabilitator, Amelio made deep changes, including extensive layoffs and cost-cutting. 

The NeXT acquisition was finalised on February 9, 1997, and the board brought Jobs back to Apple as an advisor. The board named Jobs as interim CEO in July 1997, and he immediately began a review of the company's products. Jobs would order 70% of the company's products to be cancelled, resulting in the loss of 3,000 jobs, and taking Apple back to the core of its computer offerings. The next month, in August 1997, Steve Jobs convinced Microsoft to make a $150 million investment in Apple and a commitment to continue developing software for the Mac. The investment was seen as an "antitrust insurance policy" for Microsoft which had recently settled with the Department of Justice over anti-competitive practices. Jobs also ended the Mac clone deals and in September 1997, purchased the largest clone maker, Power Computing. On November 10, 1997, Apple introduced the Apple Store website, which was tied to a new build-to-order manufacturing that had been successfully used by PC manufacturer Dell. 

The moves paid off for Jobs, at the end of his first year as CEO, the company turned a $309 million profit. 

On May 6, 1998, Apple introduced a new all-in-one computer reminiscent of the original Macintosh: the iMac. The iMac was a huge success for Apple selling 800,000 units in its first five months and ushered in major shifts in the industry by abandoning legacy technologies like the 3+1?2-inch diskette, being an early adopter of the USB connector, and coming pre-installed with internet connectivity (the "i" in iMac) via Ethernet and a dial-up modem. The device also had a striking eardrop shape and translucent materials, designed by Jonathan Ive, who although hired by Amelio, would go on to work collaboratively with Jobs for the next decade to chart a new course the design of Apple's products. 

A little more than a year later on July 21, 1999, Apple introduced the iBook, a laptop for consumers. It was the culmination of a strategy established by Jobs to produce only four products: refined versions of the Power Macintosh G3 desktop and PowerBook G3 laptop for professionals, along with the iMac desktop and iBook laptop for consumers. Jobs felt the small product line allowed for a greater focus on quality and innovation. 

At around the same time, Apple also completed numerous acquisitions to create a portfolio of digital media production software for both professionals and consumers. Apple acquired Macromedia's Key Grip digital video editing software project which was renamed Final Cut Pro when it was launched on the retail market in April 1999. The development of Key Grip also led to Apple's release of the consumer video-editing product iMovie in October 1999. Next, Apple successfully acquired the German company Astarte in April 2000, which had developed the DVD authoring software DVDirector, which Apple would sell as the professional-oriented DVD Studio Pro software product, and used the same technology to create iDVD for the consumer market. In 2000, Apple purchased the SoundJam MP audio player software from Casady & Greene. Apple renamed the program iTunes, while simplifying the user interface and adding the ability to burn CDs. 

2001 would be a pivotal year for Apple with the company making three announcements that would change the course of the company.

In May 2001, the company opened its first two Apple Store retail locations in Virginia and California, offering an improved presentation of the company's products. At the time, many speculated that the stores would fail. but they went on to become highly successful, and the first of more than 500 stores around the world. 

On October 23, 2001, Apple debuted the iPod portable digital audio player. The product, which was first sold on November 10, 2001, was phenomenally successful with over 100 million units sold within six years. 

In 2003, Apple's iTunes Store was introduced. The service offered music downloads for 99¢ a song and integration with the iPod. The iTunes Store quickly became the market leader in online music services, with over five billion downloads by June 19, 2008. Two years later, the iTunes Store was the world's largest music retailer.

During his keynote speech at the Macworld Expo on January 9, 2007, Jobs announced that Apple Computer, Inc. would thereafter be known as “Apple Inc.” because the company had shifted its emphasis from computers to consumer electronics. This event also saw the announcement of the iPhone and the Apple TV. The company sold 270,000 iPhone units during the first 30 hours of sales, and the device was called "a game changer for the industry".

In an article posted on Apple's website on February 6, 2007, Jobs wrote that Apple would be willing to sell music on the iTunes Store without digital rights management (DRM), thereby allowing tracks to be played on third-party players if record labels would agree to drop the technology. On April 2, 2007, Apple and EMI jointly announced the removal of DRM technology from EMI's catalog in the iTunes Store, effective in May 2007. Other record labels eventually followed suit and Apple published a press release in January 2009 to announce that all songs on the iTunes Store are available without their FairPlay DRM. 

In July 2008, Apple launched the App Store to sell third-party applications for the iPhone and iPod Touch. Within a month, the store sold 60 million applications and registered an average daily revenue of $1 million, with Jobs speculating in August 2008 that the App Store could become a billion-dollar business for Apple. By October 2008, Apple was the third-largest mobile handset supplier in the world due to the popularity of the iPhone. 

After years of speculation and multiple rumored "leaks", Apple unveiled a large-screen, tablet-like media device known as the iPad on January 27, 2010. The iPad ran the same touch-based operating system as the iPhone, and all iPhone apps were compatible with the iPad. This gave the iPad a large app catalog on launch, though having very little development time before the release. Later that year on April 3, 2010, the iPad was launched in the US. It sold more than 300,000 units on its first day, and 500,000 by the end of the first week. In May of the same year, Apple's market cap exceeded that of competitor Microsoft for the first time since 1989. 

In June 2010, Apple released the iPhone 4, which introduced video calling using FaceTime, multitasking, and a new uninsulated stainless steel design that acted as the phone's antenna. Later that year, Apple again refreshed its iPod line of MP3 players by introducing a multi-touch iPod Nano, an iPod Touch with FaceTime, and an iPod Shuffle that brought back the click wheel buttons of earlier generations. It also introduced the smaller, cheaper second-generation Apple TV which allowed renting of movies and shows. 

On January 17, 2011, Jobs announced in an internal Apple memo that he would take another medical leave of absence for an indefinite period to allow him to focus on his health. Chief operating officer Tim Cook assumed Jobs's day-to-day operations at Apple, although Jobs would still remain "involved in major strategic decisions". Apple became the most valuable consumer-facing brand in the world. In June 2011, Jobs surprisingly took the stage and unveiled iCloud, an online storage and syncing service for music, photos, files, and software that replaced MobileMe, Apple's previous attempt at content syncing. This would be the last product launch Jobs would attend before his death.

On August 24, 2011, Jobs resigned from his position as CEO of Apple. He was replaced by Tim Cook and Jobs became Apple's Chairman. Apple did not have a chairman at the time and instead had two co-lead directors, Andrea Jung and Arthur D. Levinson, who continued with those titles until Levinson replaced Jobs as Chairman of the board in November after Jobs' death.

On October 5, 2011, Steve Jobs died, marking the end of an era for Apple. The first major product announcement by Apple following Jobs's passing occurred on January 19, 2012, when Apple's Phil Schiller introduced iBook's Textbooks for iOS and iBook Author for Mac OS X in New York City. Jobs stated in his biography "Jobs" that he wanted to reinvent the textbook industry and education. 

From 2011 to 2012, Apple released the iPhone 4S and iPhone 5, which featured improved cameras, an intelligent software assistant named Siri, and cloud-synced data with iCloud; the third- and fourth-generation iPads, which featured Retina displays, and the iPad Mini, which featured a 7.9-inch screen in contrast to the iPad's 9.7-inch screen. These launches were successful, with the iPhone 5 (released September 21, 2012) becoming Apple's biggest iPhone launch with over two million pre-orders and sales of three million iPads in three days following the launch of the iPad Mini and fourth-generation iPad (released November 3, 2012). Apple also released a third-generation 13-inch MacBook Pro with a Retina display and new iMac and Mac Mini computers. 

In May 2014, the company confirmed its intent to acquire Dr. Dre and Jimmy Iovine's audio company Beats Electronics—producer of the "Beats by Dr. Dre" line of headphones and speaker products, and operator of the music streaming service Beats Music—for $3 billion, and to sell their products through Apple's retail outlets and resellers. Iovine believed that Beats had always "belonged" with Apple, as the company modeled itself after Apple's "unmatched ability to marry culture and technology." The acquisition was the largest purchase in Apple's history. 

During a press event on September 9, 2014, Apple introduced a smartwatch, the Apple Watch. Initially, Apple marketed the device as a fashion accessory and a complement to the iPhone, which would allow people to look at their smartphones less. Over time, the company has focused on developing health and fitness-oriented features on the watch, in an effort to compete with dedicated activity trackers.

In January 2016, it was announced that one billion Apple devices were in active use worldwide. 

On June 6, 2016, Fortune released Fortune 500, their list of companies ranked on revenue generation. In the trailing fiscal year (2015), Apple appeared on the list as the top tech company. It ranked third, overall, with $233 billion in revenue. This represents a movement upward of two spots from the previous year's list. 

In June 2017, Apple announced the HomePod, its smart speaker aimed to compete against Sonos, Google Home, and Amazon Echo. Towards the end of the year, TechCrunch reported that Apple was acquiring Shazam, a company that introduced its products at WWDC and specialising in music, TV, film, and advertising recognition. The acquisition was confirmed a few days later, reportedly costing Apple $400 million, with media reports noting that the purchase looked like a move to acquire data and tools bolstering the Apple Music streaming service. The purchase was approved by the European Union in September 2018. 

Also in June 2017, Apple appointed Jamie Erlicht and Zack Van Amburg to head the newly formed worldwide video unit. In November 2017, Apple announced it was branching out into original scripted programming: a drama series starring Jennifer Aniston and Reese Witherspoon, and a reboot of the anthology series Amazing Stories with Steven Spielberg. In June 2018, Apple signed the Writers Guild of America's minimum basic agreement and Oprah Winfrey to a multi-year content partnership. Additional partnerships for the original series include Sesame Workshop and DHX Media and its subsidiary Peanuts Worldwide, as well as a partnership with A24 to create original films. 

During the Apple Special Event in September 2017, the AirPower wireless charger was announced alongside the iPhone X, 8, and Watch Series 3. The AirPower was intended to wirelessly charge multiple devices, simultaneously. Though initially set to release in early 2018, the AirPower would be canceled in March 2019, marking the first cancellation of a device under Cook's leadership. 

On August 19, 2020, Apple's share price briefly topped $467.77, making Apple the first US company with a market capitalisation of $2 trillion. 

During its annual WWDC keynote speech on June 22, 2020, Apple announced it would move away from Intel processors, and the Mac would transition to processors developed in-house. The announcement was expected by industry analysts, and it has been noted that Macs featuring Apple's processors would allow for big increases in performance over current Intel-based models. On November 10, 2020, the MacBook Air, MacBook Pro, and Mac Mini became the first Mac devices powered by an Apple-designed processor, the Apple M1. 

In April 2022, it was reported that Samsung Electro-Mechanics would be collaborating with Apple on its M2 chip instead of LG Innotek. Developer logs showed that at least nine Mac models with four different M2 chips were being tested. 

The Wall Street Journal reported that an effort to develop its own chips left Apple better prepared to deal with the semiconductor shortage that emerged during the pandemic era and led to increased profitability, with sales of Mac computers that included M1 chips rising sharply in 2020 and 2021. It also inspired other companies like Tesla, Amazon, and Meta Platforms to pursue a similar path. 

In April 2022, Apple opened an online store that allowed anyone in the US to view repair manuals and order replacement parts for specific recent iPhones, although the difference in cost between this method and official repair is anticipated to be minimal. 

In May 2022, a trademark was filed for RealityOS, an operating system reportedly intended for virtual and augmented reality headsets, first mentioned in 2017. According to Bloomberg, the headset may come out in 2023. Further insider reports state that the device uses iris scanning for payment confirmation and signing into accounts. 

On June 18, 2022, the Apple Store in Towson, Maryland became the first to unionize in the U.S., with the employees voting to join the International Association of Machinists and Aerospace Workers. 

On July 7, 2022, Apple added Lockdown Mode to macOS 13 and iOS 16, as a response to the earlier Pegasus revelations; the mode increases security protections for high-risk users against targeted zero-day malware.

The mission of Apple Inc. is to design and create innovative and user-friendly consumer electronics, software, and services that enrich people's lives. Apple aims to be at the forefront of technology, pushing the boundaries of what is possible, and delivering products and experiences that inspire and empower individuals around the world.

Apple's mission statement, as stated by CEO Tim Cook, is as follows:

"Apple designs Macs, the best personal computers in the world, along with OS X, iLife, iWork, and professional software. Apple leads the digital music revolution with its iPods and iTunes online store. Apple has reinvented the mobile phone with its revolutionary iPhone and App Store, and is defining the future of mobile media and computing devices with iPad."

Apple strives to create products that seamlessly integrate hardware, software, and services, offering a holistic and intuitive user experience. The company is known for its focus on aesthetics, attention to detail, and simplicity in design.

In addition to its hardware products, Apple offers a range of software and services such as iCloud, Apple Music, Apple TV+, Apple Arcade, and the App Store. These services provide users with access to various digital content and enhance the overall Apple ecosystem.

Apple's vision revolves around several key principles:

Firstly, Apple aims to be a leading force in innovation and disruption across various industries. The company constantly pushes the boundaries, challenges existing norms, and redefines what is possible through its products, services, and technologies. Throughout its history, Apple has introduced groundbreaking devices such as the Macintosh, iPhone, iPad, and Apple Watch, which have transformed industries and fundamentally changed the way people interact with technology.

Secondly, Apple envisions a future where technology seamlessly integrates into people's lives. The company strives to create an ecosystem of devices, software, and services that work harmoniously together. This integration allows users to have a consistent and intuitive experience across different platforms. Apple's emphasis on integration and interoperability is evident in its ecosystem of products, including Mac computers, iOS devices, Apple Watch, and HomePod, all interconnected through services like iCloud.

Another critical aspect of Apple's vision is its commitment to user-centric design. The company places the user at the center of its product development process. Apple is renowned for creating products that are not only functional but also user-friendly, intuitive, and aesthetically pleasing. The emphasis on minimalistic design, attention to detail, and an exceptional user experience sets Apple apart. The goal is to ensure that every product is not just a tool but an enjoyable and delightful experience to use.

Additionally, Apple seeks to empower individuals by providing them with the tools and resources to unleash their creativity. Whether it's through devices like Mac computers, software like Final Cut Pro and Logic Pro, or services like the App Store and Apple Music, Apple's vision is to enable people to express themselves, create meaningful content, and pursue their passions. By empowering creativity, Apple aims to make a positive impact on people's lives and inspire them to push their boundaries.

Finally, Apple's vision includes a strong commitment to sustainability and environmental responsibility. The company aims to reduce its environmental impact, minimize carbon emissions, and work towards a greener future. Apple has made significant progress in areas such as using renewable energy, implementing recycling programs, and reducing the use of hazardous materials in its products. This commitment aligns with Apple's vision of creating a better world through responsible business practices and environmental stewardship.

iPhone: Apple's flagship smartphone that combines powerful performance, cutting-edge camera capabilities, and a seamless user experience. The iPhone has become synonymous with innovation in the mobile industry.

Mac: Apple's line of desktop and laptop computers, known for their sleek design, user-friendly interface, and powerful performance. Mac computers are favored by professionals, creatives, and general users alike.

iPad: Apple's versatile tablet device that offers a portable and immersive computing experience. The iPad caters to a wide range of users, from casual consumers to professionals who use it for content creation and productivity.

Apple Watch: A smartwatch that integrates fitness tracking, health monitoring, communication features, and app functionality. The Apple Watch has become popular for its convenience and ability to seamlessly integrate with other Apple devices.

AirPods: Apple's wireless earbuds that offer a seamless audio experience, connecting effortlessly to Apple devices. The AirPods have gained popularity for their convenience, sound quality, and integration with Siri.

Software and Services
Apple provides a range of software and services that enhance the user experience and expand the capabilities of its devices,
iOS and macOS, The operating systems that power iPhones, iPads, and Mac computers, respectively. These operating systems provide a secure and intuitive environment for users to navigate and interact with their devices.

App Store: A digital marketplace that offers a vast selection of applications for iOS and macOS devices. The App Store provides a platform for developers to distribute their apps, ranging from games and productivity tools to lifestyle and entertainment apps.

iCloud: Apple's cloud-based service that allows users to store and synchronize their data across multiple devices. iCloud offers features like cloud storage, file sharing, and seamless integration of data between Apple devices.

Apple Music: A music streaming service that provides access to an extensive library of songs, playlists, and curated content. Apple Music offers personalized recommendations and exclusive releases, along with integration with other Apple services.

Apple TV+: A subscription-based streaming service that offers original TV shows, movies, and documentaries. Apple TV+ features exclusive content produced by Apple, along with collaborations with renowned filmmakers, actors, and directors.