Apple Inc. Is an American multinational technology company headquartered in Cupertino, California, which designs, develops, and sells consumer electronics, computer software, and online services. Apple is among the big five information technology companies along with Google, Microsoft, Amazon, and Facebook. It is one of the most popular smartphones and tablet companies in the world.
Apple was founded by Steve Jobs, Steve Wozniak, and Ronald Wayne in April 1976 to develop and sell Wozniak's Apple I personal computer, although Wayne sold his share back to Jobs and Wozniak within 12 days. It was launched in January 1977 by Apple Computer, Inc., and sales of its computers grew rapidly, including the Apple II.
Jobs and Wozniak hired a staff of computer designers and started a production line in Jobs' garage. Apple went public in 1980 to immediate 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 ads for its products received widespread critical acclaim. However, the high price of its products and the limited application library caused problems, as did the power struggle between the authorities. In 1985, Wozniak left Apple amicably and remained an honorary employee, while Jobs resigned to find NeXT, taking some Apple colleagues with him.
As the market for personal computers expanded and developed in the 1990s, Apple lost considerable market share to Microsoft Windows' low-priced monopoly over Intel PC clones. The board recruited CEO Gil Amelio, a 500-day effort to rehabilitate the financially troubled company — reshaping it with layoffs, executive restructuring, and product focus. He led Apple to purchase NeXT in 1997, solve a failed operating system strategy and bring Jobs back.
Jobs regained leadership position, becoming CEO in September 1997. Apple quickly rebounded on profitability as part of the "Think Different" campaign, rebuilding Apple's position by launching iMacs and iPods, opened a retail chain of Apple stores in 2001, and acquired several companies. In 2007, the company was renamed Apple Inc. , Which focuses on consumer electronics, and launched the iPhone to 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, ending an era for the company. In June 2019, Apple's CDO Johnny Ivey left the company to start his firm but said he would serve as Apple's primary customer.
Apple's worldwide annual revenue for the 2020 fiscal year totaled $ 274.5 billion. Apple is the world's largest technology company by revenue and the most valuable company in the world since January 2021. Apple is the fourth-largest PC vendor in the world by unit sales by January 2021. It is also the fourth-largest smartphone manufacturer in the world. In August 2018, Apple became the first publicly traded US company to be valued at more than $ 1 trillion and, just two years later, became the first $ 2 trillion US company in August 2020. Apple has 147, 000 full-time employees and maintains 511 retail stores in 25 countries by 2021. It operates the iTunes Store, the world's largest music retailer. As of January 2021, more than 1.65 billion Apple products are actively in use worldwide. It has a high level of brand loyalty and is ranked as the most valuable brand in the world. Apple receives critical criticism about its contractors' labor practices, environmental practices, and business ethics, including anti-competitive behavior and material sourcing.
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