Apple Inc. | History, Products, Headquarters, & Facts (2024)

Steve Wozniak and Steve Jobs

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Formerly:
Apple Computer, Inc.
Date:
1976 - present
Ticker:
AAPL
Share price:
$171.48 (mkt close, Mar. 28, 2024)
Market cap:
$2.65 tr.
Annual revenue:
$385.71 bil.
Earnings per share (prev. year):
$6.42
Sector:
Technology
Industry:
Computer
CEO:
Timothy D. Cook

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Apple Inc., American manufacturer of personal computers, smartphones, tablet computers, computer peripherals, and computer softwareand one of the most recognizablebrands in the world. It was the first successful personal computer company and the popularizer of the graphical user interface. Headquarters are located in Cupertino, California.

Garage start-up

Apple Inc. had its genesis in the lifelong dream of Stephen G. Wozniak to build his own computer—a dream that was made suddenly feasible with the arrival in 1975 of the first commercially successful microcomputer, the Altair 8800, which came as a kit and used the recently invented microprocessor chip. Encouraged by his friends at the Homebrew Computer Club, a San Francisco Bay area group centred around the Altair, Wozniak quickly came up with a plan for his own microcomputer. In 1976, when the Hewlett-Packard Company, where Wozniak was an engineering intern, expressed no interest in his design, Wozniak, then 26 years old, together with a former high-school classmate, 21-year-old Steve Jobs, moved production operations to the Jobs family garage. Jobs and Wozniak named their company Apple. For working capital, Jobs sold his Volkswagen minibus and Wozniak his programmable calculator. Their first model was simply a working circuit board, but at Jobs’s insistence the 1977 version was a stand-alone machine in a custom-molded plastic case, in contrast to the forbidding steel boxes of other early machines. This Apple II also offered a colour display and other features that made Wozniak’s creation the first microcomputer that appealed to the average person.

Commercial success

Though he was a brash business novice whose appearance still bore traces of his hippie past, Jobs understood that in order for the company to grow, it would require professional management and substantial funding. He convinced Regis McKenna, a well-known public relations specialist for the semiconductor industry, to represent the company; he also secured an investment from Michael Markkula, a wealthy veteran of the Intel Corporation who became Apple’s largest shareholder and an influential member of Apple’s board of directors. The company became an instant success, particularly after Wozniak invented a disk controller that allowed the addition of a low-cost floppy disk drive that made information storage and retrieval fast and reliable. With room to store and manipulate data, the Apple II became the computer of choice for legions of amateur programmers. Most notably, in 1979 two Bostonians—Dan Bricklin and Bob Frankston—introduced the first personal computer spreadsheet, VisiCalc, creating what would later be known as a “killer app” (application): a software program so useful that it propels hardware sales.

While VisiCalc opened up the small-business and consumer market for the Apple II, another important early market was primary educational institutions. By a combination of aggressive discounts and donations (and an absence of any early competition), Apple established a commanding presence among educational institutions, contributing to its platform’s dominance of primary-school software well into the 1990s.

Competition from IBM

Apple’s profits and size grew at a historic rate: by 1980 the company netted over $100 million and had more than 1,000 employees. Its public offering in December was the biggest since 1956, when the Ford Motor Company had gone public. (Indeed, by the end of 1980, Apple’s valuation of nearly $2 billion was greater than Ford’s.) However, Apple would soon face competition from the computer industry’s leading player, International Business Machines Corporation. IBM had waited for the personal computer market to grow before introducing its own line of personal computers, the IBM PC, in 1981. IBM broke with its tradition of using only proprietary hardware components and software and built a machine from readily available components, including the Intel microprocessor, and used DOS (disk operating system) from the Microsoft Corporation. Because other manufacturers could use the same hardware components that IBM used, as well as license DOS from Microsoft, new software developers could count on a wide IBM PC-compatible market for their software. Soon the new system had its own killer app: the Lotus 1-2-3 spreadsheet, which won an instant constituency in the business community—a market that the Apple II had failed to penetrate.

Macintosh and the first affordable GUI

Apple had its own plan to regain leadership: a sophisticated new generation of computers that would be dramatically easier to use. In 1979 Jobs had led a team of engineers to see the innovations created at the Xerox Corporation’s Palo Alto (California) Research Center (PARC). There they were shown the first functional graphical user interface (GUI), featuring on-screen windows, a pointing device known as a mouse, and the use of icons, or pictures, to replace the awkward protocols required by all other computers. Apple immediately incorporated these ideas into two new computers: Lisa, released in 1983, and the lower-cost Macintosh, released in 1984. Jobs himself took over the latter project, insisting that the computer should be not merely great but “insanely great.” The result was a revelation—perfectly in tune with the unconventional, science-fiction-esque television commercial that introduced the Macintosh during the broadcast of the 1984 Super Bowl—a $2,500 computer unlike any that preceded it.

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Apple Inc. | History, Products, Headquarters, & Facts (2024)

FAQs

What is the brief history of Apple products? ›

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 is 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.

What are 5 facts about the Apple company? ›

  • Apple Inc's market cap is bigger than the GDP of 25 countries in the world.
  • Apple had over 140,000 employees around the world in 2020.
  • Apple Sold 849,450 iPhones per day in 2018. ( ...
  • The first Apple logo, drawn by Ronald Wayne (the third co-founder of the brand), depicted Isaac Newton under an apple tree.
Oct 12, 2023

What is Apple's historical origin? ›

The Origins of Apples

Apples are not native to North America. They originated in Kazakhstan, in central Asia east of the Caspian Sea. Alma Ata, capital of Kazakhstan, until 1997, means “full of apples.” By 1500 BC apple seeds had been carried throughout Europe. The Greeks, Etruscans, and Romans cultivated apples.

What is Apple Inc main product? ›

Apple Inc. designs, manufactures and markets smartphones, personal computers, tablets, wearables and accessories, and sells a variety of related services. Its product categories include iPhone, Mac, iPad, and Wearables, Home and Accessories. Its software platforms include iOS, iPadOS, macOS, watchOS, and tvOS.

Where is Apple headquarters? ›

Apple Inc. is an American multinational technology company headquartered in Cupertino, California that designs, develops, and sells consumer electronics, computer software, and online services.

What was Apple's first popular product? ›

Apple Computer was founded in 1976 by Steve Jobs and Steve Wozniak. The third founding member, Ronald Wayne, quickly sold his ownership to Jobs and Wozniak. Their first product was the Apple I microcomputer, which they built in Jobs' family garage.

What are 3 key facts about Apple? ›

Apple Fun Facts
  • Apple trees take 4-5 years to produce their first fruit. ...
  • Apples will ripen six to ten times faster at room temperature than if they were refrigerated.
  • It takes about 36 apples to create one gallon of apple cider.

What are some interesting facts about Apple Inc.? ›

Apple's first company logo featured a drawing of the father of physics, Sir Isaac Newton. To raise capital for Apple, co-founder Steve Wozniak had to sell his scientific calculator. Apple was the first to make a digital color camera. The name iPod was inspired by the movie 2001: A Space Odyssey.

What is Apple's biggest business? ›

iPhone Statistics

iPhone is Apple's most valuable product and has, since 2008, been its main source of revenue. Even though Apple has diversified its product line with Watch, AirPods and services, iPhone is still responsible for 52% of its revenue.

Who owns Apple now? ›

Apple (AAPL) Ownership Overview

The ownership structure of Apple (AAPL) stock is a mix of institutional, retail and individual investors. Approximately 34.79% of the company's stock is owned by Institutional Investors, 0.11% is owned by Insiders and 65.10% is owned by Public Companies and Individual Investors.

What was Apple's original name? ›

Apple Inc., originally named Apple Computer, Inc., is a multinational corporation that creates and markets consumer electronics and attendant computer software, and is a digital distributor of media content. Apple's core product lines are the iPhone smartphone, iPad tablet computer, and the Macintosh personal computer.

Why is the Apple logo half bitten? ›

Rob Janoff , the graphic designer who created the logo in 1977, has mentioned that the bite was added to the apple simply to avoid any confusion with a cherry. The colourful, friendly logo was designed to make computing more approachable and less intimidating.

Who is Apple's biggest rival? ›

Top Apple Alternatives
  • Google.
  • Microsoft.
  • IBM.
  • Salesforce.
  • DYWIDAG.
  • IBM (Red Hat)
  • Oracle.
  • SAP.

How many products does Apple Inc have? ›

Apple's product portfolio includes iPhone, iPad, Mac, iPod, Apple Watch, and Apple TV. It also provides advertising services, payment services, cloud services, and various consumer and professional software applications such as iOS, macOS, iPadOS, watchOS, iCloud, AppleCare, and Apple Pay.

What brands does Apple own? ›

The top companies owned by Apple are listed below:
  • NeXT Software. What do you do when a company is fumbling and you want another company's CEO to take over the mantle? ...
  • Siri Inc. One of Apple's products is the iPhone. ...
  • AuthenTec. AuthenTec, Inc., was one of Apple's acquisitions in 2012. ...
  • Beats Electronics. ...
  • Shazam.
Oct 11, 2022

How has Apple developed over time? ›

Apple went public in 1980, but Jobs eventually left—only to triumphantly return several years later. Apple's success lies in a strategic vision that transcended simple desktop computing to include mobile devices and wearables. Both performance and design are key drivers of the Apple brand and its ongoing success.

What was the first Apple in history? ›

Apple I
Also known asApple I, Apple-1
DeveloperSteve Wozniak
ManufacturerApple Computer Company
TypeMotherboard-only personal computer kit
Release dateApril 11, 1976
13 more rows

What is the short history of Apple logo? ›

The first Apple logo was created in 1976. Co-founder Ronald Wayne designed an illustration of Isaac Newton sitting under an apple tree. Rob Janoff introduced the now-iconic Apple icon in 1977. It was based on Steve Jobs's desire for a simpler, more approachable logo.

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