Apple @ 50: Five Decades Of Reinvention

(RTTNews) - April 1 marks 50 years of Apple Inc., the tech major whose inventions and innovations in the world of technology have brought a radical change in the lives of people over these years.

Apple, which was founded on April 1, 1976 in a small garage by visionary Steve Jobs and others, has now become a tech titan offering consumer electronics, software and online services. The firm currently holds a market capital of $3.73 trillion, mainly with the soaring succeess of its products, including iPhone series.

The company stated that the spirit of thinking different has led to products and services that have transformed entire industries and helped shape the way people connect, create, learn, and experience the world.

As the company celebrates "50 years of Thinking Different," Tim Cook, CEO of Apple, in a letter stated, "From the first Apple computer to the Mac, from iPod to iPhone, iPad to Apple Watch and AirPods, as well as the services we use every day — the App Store, Apple Music, Apple Pay, iCloud, and Apple TV — we've spent five decades rethinking what's possible and putting powerful tools into people's hands. Through every breakthrough, one idea has guided us — that the world is moved forward by people who think different."

Originally founded as Apple Computer, Inc. by Steve Jobs, Steve Wozniak, and Ronald Wayne, the Cupertino, California-based company changed to its current name to reflect its expansion from computers to consumer electronics.

Despite the initial struggles, Apple's business surged under Jobs' leadership with the introduction of the iMac, iPod, iPhone, and iPad devices, creating the iTunes Store, as well as the opening of Apple Store retail chain. Jobs resigned in 2011 for health reasons, and died two months later.

Cook, Apple's former operations chief, succeeded Jobs, and has been leading the firm since 2011. Under Cook's leadership, Apple's market capitalization has soared from about $350 billion in 2011 to around $4 trillion today.

In its latest first quarter, Apple's net earnings climbed to $42.097 billion or $2.84 per share from last year's $36.330 billion or $2.40 per share, and its revenue rose 15.7% year-over-year to $143.756 billion.

With its highly popular products, technology and services, Apple has now reached a significant position in the United States and the worldwide technical industry. In the recent developments, the firm has pledged to invest $600 billion over four years in the U.S. to boost domestic manufacturing and innovation.

In November last year, the Financial Times had reported, citing people familiar with the matter, that the tech major was stepping up its succession planning efforts for Cook to hand over the reins at the company after more than 14 years at the helm.

As per the report, John Ternus, Apple's senior vice-president of hardware engineering, is widely regarded as the most likely successor.