ChallengesĪ month after Cook took over, Apple had 60,400 full-time employees. Prices have risen, too - the iPhone 4 cost $599 for an entry-level model ($199 with a carrier contract). Modern iPhone 12 devices can come with as many as three cameras, 6.7-inch screens and an Apple-designed processor that rivals the fastest computer chips. When Cook took over, the most advanced iPhone was the iPhone 4, with a 5 megapixel camera and a 3.5-inch screen. But under Cook's watch, the iPhone has improved on a rigorous annual release schedule. By 2020, after being bolstered by the release of both Apple Watch and AirPods, it had more than $30.6 billion in revenue and the moniker Wearables, Home and Accessories.Īpple's main product remains the iPhone, which accounted for 47% of the company's sales in the most recent quarter. In 2011, Apple's "other" category, at the time called "peripherals and other hardware," reported $2.3 billion in sales. Similarly, Apple has never announced financial results from the AirPods, but the company's wireless headphones accounted for just under half of wireless headphone sales in 2020, according to Strategy Analytics. While Apple has never released unit sales numbers or even direct revenue from the watch, one estimate from Counterpoint Research says that Apple shipped 33.9 million watches in 2020, far outpacing Huawei, the second-place company, which only shipped 11 million smartwatches.Īpple also released AirPods in 2016.
In 2015, Apple released Apple Watch, a companion for the iPhone that tracked heart rate, displayed notifications and worked with a variety compatible watch bands from fashion brands like Hermes.
Jobs was known as a product-focused CEO who was involved in the development of new devices from their conception until they were on store shelves.Ĭook isn't as product focused as his predecessor, but his Apple has managed to launch several new successful products. The growth of Apple's services business from $2.95 billion in fiscal 2011 to $53.77 billion in fiscal 2020 has given investors confidence that it can find new revenue streams even as iPhone sales slow. Most recently, it's started to add privacy features to paid iCloud accounts. It's also bundling its services in a subscription called Apple One. Apple first started to call attention to the previously sleepy category in 2015 as iPhone growth slowed.Īpple has started to release new products to bolster its services that bill on a recurring basis, including Apple News+, a digital magazine bundle, and Apple TV+, a competitor to Netflix.
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The catch-all category includes software subscriptions like iCloud and Apple Music, App Store downloads and a portion of transactions users make in the apps they download, AppleCare warranties, money from Google to make its search engine the default on iPhone, and cuts from its Apple Pay payments service. One thing propelling Apple's market cap is the company's new focus on its services business.
In September, Apple's board granted Cook shares and performance-based awards that could give him more than 1 million Apple shares through 2026, his first stock grant since he took over.Īpple is the most valuable publicly traded company, worth more than $2.4 trillion, edging out other giants such as Microsoft and Amazon. Ultimately, Apple's board is happy with Cook and his performance. Since 2011, the company has released several new products, including the Apple Watch and AirPods.Ĭook's Apple is significantly bigger than it was when he took over, and it also faces new challenges, from navigating politics around the world to the perennial question about what its next big product is. Under Cook, Apple shored up the iPhone business and bolstered it with a constellation of new products that attract new customers and entrench current customers in Apple's world. Personal Loans for 670 Credit Score or Lowerīut Cook says that Jobs told him to be his own leader, and never to ask "what would Steve do?" He took that advice, building a rigorous operational juggernaut and turning Apple into the most valuable publicly traded company in the world. Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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