October 9, 2012 Leave a comment
Steve Jobs would be proud to see where his company is today. The one year anniversary of the cofounder’s passing was greeted with remembrance and cause for celebration; Apple has recently become the most valuable company of all time. Reaching this height is not only an apt tribute to Jobs’ lifetime of innovation but also to his building of an extraordinarily successful company that has not only survived since his passing but exceeded expectations. With stock prices rising from $500 to over $700 a share earlier this year, shares up nearly 80 percent, and the much anticipated release of the iPhone 5 under their belt, Apple has definitely had a stellar year.
Apple came out victorious in other ways as well. The company has experienced impressive success under the reins of former COO-turned-CEO Tom Cook, beating out Microsoft who previously held the MVP title with $618.09 billion in 1999 market value. After winning a high profile suit against competitor Samsung, Apple has successfully defended its turf. From this exclusive creativity comes one of Apple’s newest ideas, the “iPad mini”, which is currently in the production stage. Ultimately, Apple is now peerless in its market. As of the morning of October 7th, Apple is valued at $652.59 on NASDAQ.
In spite of the general positivity of the year, Apple has faced several obstacles. The infamous Maps app debacle led many to question if, had Steve Jobs still been in charge, this poor-made product would have been released. This leads to further questions of the company’s long term longevity without charismatic Steve Jobs at the helm. Will the ideas continue to flow, the execution remain world-class, and the signature sleekness of an Apple product stay strong for the company? Or will post-Jobs era technologies become diluted away from the Apple dream? CEO Tim Cook argues for the former in his letter commemorating his predecessor’s passing:
“No company has ever inspired such creativity or set such high standards for itself. Our values originated from Steve and his spirit will forever be the foundation of Apple. We share the great privilege and responsibility of carrying his legacy into the future.” –Tim Cook
While we can’t predict the future of the market (even with Apple’s amazing products) one thing is certain: Apple is the world’s most valuable company in history, and it has set a very high bar for peers to match.
Posted by Sophia Higgins