APPLE’S 49TH ANNIVERSARY CROWNED WITH $3.3 TRILLION MARKET CAP

Tue 01 April 2025:

Apple remained the world’s most valuable company on Monday, reaching a market capitalization of $3.3 trillion, 49 years after its founding.

Despite recent volatility in technology stocks driven by trade policy uncertainty in the US, Apple’s shares rose 28% in 2024.

The company’s valuation, which stood at $2.6 trillion in March 2023, climbed to $3.3 trillion by Monday.

Founded on April 1, 1976, in a California garage, Apple became one of the most influential companies globally, credited for popularizing user-friendly devices and reshaping consumer technology.

Apple was launched by Steve Jobs, Steve Wozniak and Ronald Wayne with the “Apple I” computer and a vision of “creating user-friendly computers”.

In early 1977, the firm was incorporated as “Apple Computer”.

The release of the “Macintosh” in 1984 changed the personal computing landscape, offering a graphical user interface and mouse support. Apple’s 2001 launch of the “iPod” disrupted the music industry and transformed how users accessed digital content.

The 2007 release of the “iPhone” helped reshape the smartphone industry by offering a mobile device with computer-like capabilities.

In 2007, Apple dropped “Computer” from its corporate name, reflecting its expansion into broader electronics. It followed in 2010 with the launch of the “iPad”, its first tablet.

AI integration boosts Apple’s competitive edge

Apple ramped up its artificial intelligence projects in June 2024, introducing “Apple Intelligence.”

The new system is reported to feature context-based notifications, AI-generated visual content and cross-application task automation.

Amid growing competition with Microsoft and Nvidia, Apple reclaimed its top spot as the most valuable company after accelerating AI efforts.

In September 2024, Apple unveiled the AI-enabled iPhone 16, which supports large-scale generative AI models.

In February 2025, it released the iPhone 16e, a lower-cost model incorporating AI features.

Apple’s market share shrinks in China-led competition

According to its most recent financial results, Apple’s iPhone sales fell during the three months ending Dec. 28, 2024, though Mac and iPad sales grew.

During that quarter, iPhone sales dropped 1% from the same period in 2023 to $69.1 billion, falling short of analyst expectations.

A report from research firm IDC said Apple’s global smartphone shipments fell 0.9% in 2024, even as global sales rose by 6.4%.

Apple’s global market share declined from 20.1% in 2023 to 18.7% in 2024.

Apple retained its lead in the global smartphone market, though Chinese competitors expanded their share.

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From a garage startup to a tech titan

Apple was founded on April 1, 1976, by Steve Jobs, Steve Wozniak, and Ronald Wayne in a California garage. Wozniak’s engineering genius birthed the Apple I, a basic computer sold as a circuit board. In 1977, the Apple II followed—a game-changer with color graphics and a user-friendly design, making it a hit in homes and schools. The company went public in 1980, skyrocketing its value.

In 1984, Apple launched the Macintosh, introducing the graphical user interface and mouse to the masses, though it initially struggled against IBM’s PCs. Jobs left in 1985 after internal clashes, and Apple floundered through the late ’80s and ’90s, nearing bankruptcy by 1997. That year, Jobs returned, striking a deal with Microsoft for funding and refocusing the company.

The iMac in 1998 kicked off a design revolution, followed by the iPod in 2001, which transformed music. The iPhone in 2007 redefined smartphones, and the iPad in 2010 cemented Apple’s dominance. Jobs passed in 2011, leaving Tim Cook as CEO. Under Cook, Apple became a services and wearables giant, hitting a $3.3 trillion valuation by its 49th anniversary in 2025.

SOURCE: INDEPENDENT PRESS AND NEWS AGENCIES

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