Triumph of the iPhone: Apple's journey from near bankruptcy to trillion-dollar mark
SAN FRANCISCO: Apple is the world's first publicly traded company to be valued at $1 trillion, the financial fruit of stylish technology that has redefined what we expect from our gadgets.
The milestone reached Thursday marks the latest triumph of a trend-setting company that two mavericks named Steve started in a Silicon Valley garage 42 years ago.
Apple's shares gained $5.89 to close at $207.39, leaving the company's market value a notch above $1 trillion - around $1,001,679,220,000, according to FactSet. Apple sits atop a US stock market that has become dominated by technology-centered companies: Amazon, Google's parent Alphabet, Microsoft and Facebook round out the top five in market value.
The achievement seemed unimaginable in 1997 when Apple teetered on the edge of bankruptcy, with its stock trading for less than $1, on a sp t-adjusted basis, and its market value drop below $2 billion.
To survive, Apple brought back its once-eled co-founder, Steve Jobs, as interim CEO and turned to its archrival Microsoft for a $150 million cash infusion to help pay its bills.
If someone had dared to buy $10,000 worth of stock at that point of desperation, the investment would now be worth about $2.6 million.
Jobs eventually shepherded a decade-long succession of iconic products such as iPhone that transformed Apple from a technological boutique to a cultural phenomenon and moneymaking machine.
The stock has been surging this week as anticipation mounts for the next generation of iPhone, expected to be released in September.
Although iPhone sales aren't rising as rapidly as they were a few years ago, Apple has been adding enough new features to persuade consumers to pay higher prices for its top-of-the line devices. In its most recent quarter, Apple fetched an average price of $724 per iPhone - a nearly 20 per cent increase from an average of $606 per iPhone at the same time last year.
The price esction has widened Apple's profit margins to the delight of investors, who have boosted the company's market value by about $83 billion _ nearly equal to the entire market value of American Express - since the quarterly report came out late Tuesday. The 9 per cent gain was Apple's biggest two-day advance in nearly a decade.
Apple's stock has climbed by 23 per cent so far this year, compared to a 6 per cent gain for the Standard & Poor's 500 index.
The recent rally in Apple's stock contrasts sharply from a deep downturn in the fortunes of two social media companies, Facebook and Twitter that offer some of the most popular apps used on iPhones and other mobile devices. User growth and engagement on Facebook and Twitter has been wavering amid deepening concerns about their ability to prect people's personal information and shield them from misinformation and other abuses that have been infecting their services.
Consider the plight of Exxon Mobil, which was the most valuable US company five years ago. Now, it ranks as the ninth most valuable, surpassed by Apple and a list consisting primarily on companies immersed in technology.
Some analysts believe e-commerce leader Amazon.com will supplant Apple as the world's most valuable company in the next year or two as its spreading tentacles reach into new markets.
And Saudi Arabian Oil Co, known as Saudi Aramco, is planning an initial public offering that Saudi offi als have said would value the giant oil company at about $2 trillion. But until the IPO is completed, Saudi Aramco's actual value remains murky.
This much is certain: Apple wouldn't be atop the corporate kingdom without Jobs, who died October 2011. His vision, showmanship and sense of style propelled Apple's comeback.
But the recovery might not have happened if Jobs hadn't evolved into a more mature leader after his et from the company in 1985. His ignominious departure came after losing a power struggle with John Sculley, a former Pepsico executive who he recruited to become Apple's CEO in 1983 - seven years after he and his geeky friend Steve Wozniak teamed up to start the company with the administrative help of Ronald Wayne.
Jobs remained mercurial when he returned to Apple, but he had also become more thoughtful and adept at spotting talent that would help him create a revo tionary innovation factory. One of his biggest coups came in 1998 when he lured a soft-spoken Southerner, Tim Cook, away from Compaq Computer at a time when Apple's survival remained in doubt.
Cook's hiring may have been one of the best things Jobs did for Apple. As Jobs' top lieutenant, Cook oversaw the intricate supply chain that fed consumers' appetite for Apple's devices and then held the company together in 2004 when Jobs was stricken with a cancer that forced him to periodically step away from work _ sometimes for extended leaves of absences.
Just months away from his death, Jobs offi ally handed off the CEO reins to Cook in August 2011.
Cook has leveraged the legacy that Jobs left behind to stunning heights. Since Cook became CEO, Apple's annual revenue has more than doubled to $229 billion while its stock has quadrupled. More than $600 billion of Apple's current market value has been created in that time.
Cook hasn't escaped criticism, however. The Apple Watch has been the closest thing that the company has had to creating another mass-market sensation under Cook's leadership, but that device hasn't come close to breaking into the cultural consciousness like the iPhone or the iPad.
That has raised concerns that Apple has become far too dependent on the iPhone, especially since iPad sales tapered off several years ago. The iPhone now accounts for nearly two-thirds of Apple's revenue.
Apple had also come under fire as it accumulated more than $250 billion in taxes in overseas accounts, triggering accusations of tax dodging. Cook insisted what Apple was doing was legal and in the best interest of shareholders, given the offshore money would have been subjected to a 35 per cent tax rate had if it were brought back to the US
But that calculus changed under the administration of Presi nt Donald Trump, who pushed Congress to pass a swee overhaul of the US tax code that includes a provision lowering this year's rate to 15.5 per cent on profits coming back from overseas.
Apple took advantage of that break to bring back virtually all of its overseas cash, triggering a $38 billion tax bill. All that money coming back to the US also spurred Apple to raise its dividend by 16 per cent and commit to buy back $100 billion of its own stock as part of an effort to drive its stock price even higher.
来源：三泰虎 http://www.santaihu.com/45724.html 译者：Joyceliu
Chalu 3 hours ago
Credit goes to stupid customers who buy product to show off and not for features.. from phone to computer there is much superior products available.. but people buy this for false ego..
Ravindra Munvar 3 hours ago
Shows how many dimwits are there around the world. Dedicated to all the Apple fans.
Rajesh Singhal 3 hours ago
All the credit of the renowned company, the Apple, to have regained its lost name in the market goes to Steve Jobs. Had he not returned and assumed the chair of the CEO in 1997, the picture of the Apple would have faded by now.
Another Fan 4 hours ago
Vinod 4 hours ago
Why so much Gun Gan of this company?
KAMAL 1 hours ago
260 Bn $ in cash many a country in world does not have aggregate cash to such extent
Ankit 3 hours ago
All the credit goes to Mr. Steve Jobs....What a man...
Baba Vickram Aditya Bedi 45 minutes ago
Another American company which is over valued on baseless valuations. What does this company actually manufacture or make? Job''s it''s founder didn''t invent anything. He was not an engineer. He took parts and put them together and made the Apple II, and later stole the GUI from Xerox and whipped his engineers to remake it. Today it is a smartphone branding consortium valued at 1 trillion dollars. Who are the fools that believe this valuation is real? How long can you sell a logo for 12 times more than it is worth?
Makdxb 1 hours ago
Apple should suffer since the played dirty games ag inst their competitors. But very bad effect of this, company takes advantage of it. However, none of the business keeps the same success always. So we will wait and watch
Remo Remo 1 hours ago
A perfect example of how one person can change the world. What we are in search for so long is such a leader.
Amit G 2 hours ago
Wonderful news, Congrats to all Apple employees
PS Kumar 2 hours ago
Steve Job created a history, he will be always remembered by future generation if world will sustain. It does not matter about the losses, there is always up and down. Even someone can gain the capacity to buy earth, then it has that limit, and then he will start fall down. So, no need to worry about the losses, but continue to provide better technology to the world. You Apple one day again rise.
Atilla Hun 3 hours ago
Check out the latest sales figures of premium cell phones ....Apple is heading south , nevertheless it has been a great journey for them
Sambha Slayer 3 hours ago
Go Apple Go
Anurag 3 hours ago
Amdavad 28 minutes ago
Iphone is overpriced just for companies profit. It's not always necessary for day to day life, iphone is just status symbol. Company will not last long at this level.
Pappu Trolls 59 minutes ago
I love retina displays, color accuracy, premium looks - main reason i am a big Apple fan!
The Village Idiot 3 hours ago
Oh and Mr Idiot Trump, your Apples biggest customer is .
Smoking Kills Weed 3 minutes ago
Sir Issac Newton would be proud of this apple.