The story of Apple is one of the most fascinating in modern business history. It did not start out in a large corporate building but began its life in a small suburban garage. It has developed into one of the world’s most recognisable brands for innovation, design, and technical performance.
In addition to providing value to customers wherever it is produced, Apple has become a symbol of a company that sells products at prices higher than the cost of developing them. Today, billions of people worldwide respect Apple products and use them.
The 1970s: The garage that changed everything
The creation of Apple began on April 1, 1976, with the vision of creating personal and accessible computers that were aesthetically appealing by three founders: Steve Jobs (with 45% of the shares), Steve Wozniak (also with 45% of the shares), and Ronald Wayne (who held 10% of the shares). Wayne sold his 10% of the company after 12 days of business operations to Jobs and Wozniak for $800. Today, he would be entitled to a share of the company valued at up to $400 billion. Both the Steves officially incorporated Apple on January 3, 1977, which set the stage for the company’s future growth and prosperity, transforming it from a small company assembling computers into a worldwide consumer electronics company.
They built the original Apple computer, the Apple I, in Jobs’ parents’ garage, a very basic machine that laid the foundation for the personal computer revolution. The second computer, the Apple II, changed how people view computers today by introducing the first successful mass-produced personal computer, a key factor in opening the PC market.
The 1980s: A decade of brilliance and breakdown
Following its successful launch and introduction to Apple Computer, Apple held its initial public offering (IPO) on December 12, 1980. Apple sold 4.6 million shares at $22 each, raising substantial capital (over $ 100 million) and, during that time frame, traded on Nasdaq. Additionally, at that moment in history, it was the largest IPO in history (surpassing the previous record set by Ford Motor Co. in 1956) and created approximately 300 millionaires.
The release of Macintosh in 1984 introduced a graphical user interface and a mouse to computing, which would become the basis of all computer applications for the next decade. But due to internal struggles and a misguided strategic direction, Jobs left Apple in 1985, leading to a long and difficult period for the company’s former owner, marked by a steady decline in market share and a lack of clarity about its direction. The turning point for Apple came in 1997 when Jobs returned as CEO of the now-failing company. Over the next several years, under Jobs’ leadership, Apple underwent the greatest corporate revival in history and became one of the most successful companies of all time through a renewed emphasis on simple design, aesthetics, and user experience. The iMac revitalised Apple’s brand: the iPod changed how people bought music, and iTunes completely revolutionised how people purchased and enjoyed music.
2007: The iPhone, a turning point
2007 was the true turning point; with the introduction of the iPhone, it did not just become successful, but also totally transformed how we think about smartphones. The iPhone brought together communication, computing, and entertainment into one product – a product that revolutionised how we use phones and set a new expectation for what smartphones could and should do. It wasn’t long after that that the app store was introduced, which created a whole new ecosystem, enabled millions of developers to create software in ways they had never before, and completely changed how people purchase and use that software.
2011: The death of a genius
The person who helped steer Apple to becoming the most valuable company in the world (with a valuation of $343 billion, surpassing Exxon’s market capitalisation, reported in August 2011) on October 5, 2011, was Steve Jobs; unfortunately, Steve died that day from pancreatic cancer. Just prior to his death, he resigned as CEO of Apple, remained on the board of directors as a “former” director, and appointed Tim Cook, then 50, as his successor. Steve worked at Apple up until the day before his death, 6 weeks later. Interestingly, the day after Tim Cook (as the new CEO) announced the iPhone 4S, Steve Jobs, who was 56 years old, died, having seen his “baby” (the new iPhone).
Post 2011 till date: The Tim Cook era
Tim Cook has been Apple’s CEO since 2011, with extensive experience as the company’s chief operating officer before that. Cook has made huge strides in modernising Apple’s product line, adding many innovative products, such as the Apple Watch and AirPods, while continuing to develop new services (App Store, Apple Music, iCloud, Apple TV, and Apple Pay) from Apple’s existing product lines. The fact that Apple can produce such large volumes of products gives the company a tremendous competitive advantage in supply chain management and costs.
In addition, Tim Cook has set lofty sustainability goals to reduce Apple’s overall environmental footprint. Today, Apple is more than just a tech company after having operated for over 50 years; it is a major cultural force. Apple represents an example of ingenuity, perseverance and streamlined execution. The story of Apple illustrates how strong visionary leadership, combined with substantial R&D funding and an unwavering commitment to succeed through innovation, leads to extraordinary outcomes regardless of an organisation’s starting point.
2026: John Ternus steps into the spotlight
After 15 years at the helm as Apple’s CEO, 65-year-old Tim Cook is stepping down and passing the role to 50-year-old John Ternus, who will become Apple’s CEO in September. John Ternus can be inspired by Tim Cook’s and Steve Jobs’ achievements to continue their legacy, make Apple number one in everything, and face future challenges amid geopolitical and artificial intelligence developments. Steve Jobs and Tim Cook faced numerous challenges and controversies throughout their time leading Apple. Still, they both had a clear strategy and a forward-thinking vision that enabled Apple to become the world’s most admired company.
There were many transformations under both Jobs and Cook that created the company we know today. And now, with John Ternus set to step up to the helm, another chapter in Apple’s evolution is set to be penned.
