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Apple Inc. (formerly Apple Computer, Inc.) is an American multinational corporation and technology company headquartered in Cupertino, California, in Silicon Valley. It designs, develops, and sells consumer electronics, computer software, and online services. Devices include the iPhone, iPad, Mac, Apple Watch, Vision Pro, and Apple TV; operating systems include iOS, iPadOS, and macOS; and software applications and services include iTunes, iCloud, Apple Music, and Apple TV+. For most of 2011 to 2024, Apple became the world's largest company by market capitalization until Microsoft assumed the position in January 2024. In 2022, Apple was the largest technology company by revenue, with US$394.3 billion. As of 2023, Apple was the fourth-largest personal computer vendor by unit sales, the largest manufacturing company by revenue, and the largest vendor of mobile phones in the world. It is one of the Big Five American information technology companies, alongside Alphabet (the parent company of Google), Amazon, Meta (the parent company of Facebook), and Microsoft. Apple was founded as Apple Computer Company on April 1, 1976, to produce and market Steve Wozniak's Apple I personal computer. The company was incorporated by Wozniak and Steve Jobs in 1977. Its second computer, the Apple II, became a best seller as one of the first mass-produced microcomputers. Apple introduced the Lisa in 1983 and the Macintosh in 1984, as some of the first computers to use a graphical user interface and a mouse. By 1985, the company's internal problems included the high cost of its products and power struggles between executives. That year Jobs left Apple to form NeXT, Inc., and Wozniak withdrew to other ventures. The market for personal computers expanded and evolved throughout the 1990s, and Apple lost considerable market share to the lower-priced Wintel duopoly of the Microsoft Windows operating system on Intel-powered PC clones. In 1997, Apple was weeks away from bankruptcy. To resolve its failed operating system strategy and entice Jobs's return, it bought NeXT. Over the next decade, Jobs guided Apple back to profitability through several tactics including introducing the iMac, iPod, iPhone, and iPad to critical acclaim, launching the "Think different" campaign and other memorable advertising campaigns, opening the Apple Store retail chain, and acquiring numerous companies to broaden its product portfolio. Jobs resigned in 2011 for health reasons, and died two months later. He was succeeded as CEO by Tim Cook. Apple has received criticism regarding its contractors' labor practices, its environmental practices, and its business ethics, including anti-competitive practices and materials sourcing. Nevertheless, it has a large following and a high level of brand loyalty. It has been consistently ranked as one of the world's most valuable brands. Apple became the first publicly traded U.S. company to be valued at over $1 trillion in August 2018, then at $2 trillion in August 2020, and at $3 trillion in January 2022. In June 2023, it was valued at just over $3 trillion. History 1976–1980: Founding and incorporation 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.: 57  Neither received the full selling price but in total earned $1,300 (equivalent to $7,000 in 2023). Wozniak debuted the first prototype Apple I at the Homebrew Computer Club in July 1976. The Apple I was sold as a motherboard with CPU, RAM, and basic textual-video chips—a base kit concept which was not yet marketed as a complete personal computer. It was priced soon after debut for $666.66 (equivalent to $3,600 in 2023).: 180  Wozniak later said he was unaware of the coincidental mark of the beast in the number 666, and that he came up with the price because he liked "repeating digits". Apple Computer, Inc. was incorporated on January 3, 1977, without Wayne, who had left and sold his share of the company back to Jobs and Wozniak for $800 only twelve days after having co-founded it. Multimillionaire Mike Markkula provided essential business expertise and funding of $250,000 (equivalent to $1,257,000 in 2023) to Jobs and Wozniak during the incorporation of Apple. During the first five years of operations, revenues grew exponentially, doubling about every four months. Between September 1977 and September 1980, yearly sales grew from $775,000 to US$118 million, an average annual growth rate of 533%. The Apple II, also designed by Wozniak, was introduced on April 16, 1977, at the first West Coast Computer Faire. It differs from its major rivals, the TRS-80 and Commodore PET, because of its character cell-based color graphics and open architecture. The Apple I and early Apple II models use ordinary audio cassette tapes as storage devices, which were superseded by the 5+1⁄4-inch floppy disk drive and interface called the Disk II in 1978. The Apple II was chosen to be the desktop platform for the first "killer application" of the business world: VisiCalc, a spreadsheet program released in 1979. VisiCalc created a business market for the Apple II and gave home users an additional reason to buy an Apple II: compatibility with the office, but Apple II market share remained behind home computers made by competitors such as Atari, Commodore, and Tandy. On December 12, 1980, Apple (ticker symbol "AAPL") went public selling 4.6 million shares at $22 per share ($.10 per share when adjusting for stock splits as of September 3, 2022), generating over $100 million, which was more capital than any IPO since Ford Motor Company in 1956. By the end of the day, 300 millionaires were created, including Jobs and Wozniak, from a stock price of $29 per share and a market cap of $1.778 billion. 1980–1990: Success with Macintosh In December 1979, Steve Jobs and Apple employees, including Jef Raskin, visited Xerox PARC, where they observed the Xerox Alto, featuring a graphical user interface (GUI). Apple subsequently negotiated access to PARC's technology, leading to Apple's option to buy shares at a preferential rate. This visit influenced Jobs to implement a GUI in Apple's products, starting with the Apple Lisa. Despite being pioneering as a mass-marketed GUI computer, the Lisa suffered from high costs and limited software options, leading to commercial failure. Jobs, angered by being pushed off the Lisa team, took over the company's Macintosh division. Wozniak and Raskin had envisioned the Macintosh as a low-cost computer with a text-based interface like the Apple II, but a plane crash in 1981 forced Wozniak to step back from the project. Jobs quickly redefined the Macintosh as a graphical system that would be cheaper than the Lisa, undercutting his former division. Jobs was also hostile .... Discover the Apple Education popular books. Find the top 100 most popular Apple Education books.