Tuesday, September 14, was the date Apple chose to present New iPhone. The tech giant is organizing an event where it will present its new range of products and the smartphone should be the star of the party. Other news expected is a new Apple Watch and a new model of AirPods. The event will be broadcast by official site From the company.
The new range of products, a classic Apple that turned commercial launches into technology events, is being introduced in the year Tim Cook completed 10 years at the company’s helm.
The beginning of Apple’s culinary era didn’t happen for the best of reasons. On August 24, 2011, the current CEO of Apple replaced its legendary founder, Steve Jobs, who was facing health complications from pancreatic cancer. Jobs left very early, but left a legacy that would greatly influence Tim Cook’s leadership.
Cook, now 60, joined Apple in 1998 after 12 years at the helm of IBM operations and just 6 months in a similar role at Compaq. Nowadays, you hardly find a computer of this brand, however, in 1998, Compaq was in a much better position than the apple company (which experienced a 50% drop in its revenue within 3 years). At the time, his sudden departure was seen as a risky decision by the business world, but for Cook it was clear, after talking to Jobs for a few minutes and understanding the plan he had laid out for the “new” Apple.
The path Apple took to becoming the world’s most valuable company in 2011, after a decade of introducing revolutionary products like the iPod, iPhone and iPad, was mostly fought with Tim Cook as Steve Jobs’ “No. 2”. This is due to the efficiencies that Apple has been able to gain in the production process, not just allowing it to continue pricing excellent With a much larger profit margin, but it also can get products to market faster.
Despite all this, at the time of Jobs’ dissolution, huge questions were again raised. Will it be possible to match jobs? Is this the beginning of the end for Apple?
Those who believed it couldn’t be further from the truth and the numbers of the past decade prove it:
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Apple’s stock market valuation + rose 700% to $2.5 billion (trillion) dollars, remaining the most valuable company in the world.
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When Cook took the lead, Apple had $108 billion in revenue. In 2020, its sales amounted to 274.5 billion US dollars.
- In 2021, Apple became the most profitable company in the world.
How did this happen?
for the first time An appleYear after year, model after model, he was selling more and more iPhones. It is estimated that in 2011 about 72 million units were sold. In 2020, that number was close to 250 million.
Second, it introduced new products, also known as wearable, such as the Apple Watch and AirPods, which currently earn more than most publicly listed companies. In the latest display of Apple’s results In the second quarter of this year, this category alone accounted for $8.8 billion in sales, higher than, say, Netflix’s revenue for the same period ($7.3 billion).
Finally, in an era E-Commerce e do flow It is also betting on services such as Apple Pay and Apple Music, which in fiscal year 2020 amounted to $17 billion. And of course, there’s also that “small” platform called the App Store that now has more than 2 million free and paid apps, for which Apple charges a modest 30%.
Cook’s legacy
In addition to where he put Apple, there is other interesting data regarding Tim Cook. Most notable is the fact that he became the first Fortune 500 leader to come out as gay and be an active voice for LGBTQ+ rights in the business world. Although this activity also exists on some political and environmental issues, Apple’s CEO has been criticized for his company’s direct influence on issues such as pollution, the exploitation of cheap labor or even consumer privacy.
Final Fun fact It is related to your wealth. Despite being the leader of the world’s largest company, Tim Cook has a fortune (~$1.5 billion) much less than that of names like Jeff Bezos (Amazon) or Mark Zuckerberg (Facebook). This is because he is not the original founder of Apple and part of his income over the past 20 years is related to the positions he has held rather than the value of the stake he has held in the company.
However, as a 10-year “prize” at the helm of Apple, Cook received 5 million Apple shares worth 750 million dollars. It’s not enough to stay close to your “competitors”, but maybe it’s enough to keep you in charge for a few more years.
Tim Cook’s Path Analysis was originally conducted by Apple for Next Newsletter You can subscribe to receive stories from the world of innovation and companies in your email.
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