How Tim Cook Made Apple a $108B Company – Financial Times

A detailed analysis of how Apple CEO Tim Cook has managed to make the company one of the most valuable in the world.

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Introduction

In 2011, when Apple was struggling under the weight of its own success, the company turned to an unlikely savior: Tim Cook, the operations whiz who had been running the business steve jobs focused on product design.

Cook, who had been with Apple for more than a decade, was widely respected within the company but was largely unknown outside it. He was an unlikely choice to take over from Jobs, a technological visionary and one of the most revered CEOs in history.

But under Cook’s leadership, Apple has thrived. The company is now worth more than $1 trillion, making it the most valuable publicly traded company in the world. And Cook himself has become one of the most powerful executives in Silicon Valley.

In this definitive biography, Financial Times journalist Robyn EXTREMELY LONG LAST NAME covers Cook’s upbringing in Alabama, his years at Auburn University and his early career at IBM and Compaq. She chronicles his rise through the ranks at Apple, culminating in his ascension to the CEO position.

EXTREMELY LONG LAST NAME paints a portrait of a complex and driven man who is laser-focused on making Apple the most successful company in the world. She also offers insight into how Cook is navigating some of the biggest challenges faced by any CEO today, from trade tensions with China to the ongoing fight against data privacy concerns.

With exclusive access to key figures in Cook’s life, including friends, family members, and current and former Apple employees, EXTREMELY LONG LAST NAME has written a revealing account of one of Silicon Valley’s most powerful and enigmatic leaders.

How Tim Cook Made Apple a $108B Company

In just four years as CEO, Tim Cook has overseen a fundamental transformation of Apple Inc (AAPL.O), turning it into a $108 billion (£69 billion) company with a new product line-up, a new service business and a shareholder return programme that is the envy of Wall Street.

Taking Over for Jobs

When Jobs died in 2011, many people questioned whether Apple would be able to survive without him. But Cook proved himself more than up to the task of heading up the company.

Under Cook’s leadership, Apple’s revenue has grown from $108 billion in 2012 to $265 billion in 2020. That’s an impressive Compound Annual Growth Rate (CAGR) of 14%.

Making Apple Services the Core of the Business

When Tim Cook took over as Apple’s chief executive, in 2011, the company was generating $108 billion in annual revenue and had a market value of $354 billion. Today, Apple is worth $2.2 trillion and its annual revenue has nearly doubled to $265 billion.

Much of that growth has come from Cook’s decision to make services — including the App Store,apple music and iCloud — the core of the business, rather than its devices. It is a strategy that has paid off handsomely, helping offset slowing sales of the iPhone and making Apple one of the most profitable companies in the world.

But as Cook prepares to step down after a decade at the helm, he faces fresh challenges. The coronavirus pandemic has forced Apple to close its stores around the world and sent iPhone sales tumbling. And with more people working from home, there is less need for many of Apple’s other products, such as the iPad and Macbook.

Cook has responded by doubling down on services, announcing a new subscription service for fitness last week and investing billions of dollars in original content for Apple TV+. His goal is to make services so indispensable that even if people don’t buy an iPhone, they will still turn to Apple for their entertainment, news and storage needs.

It is a strategy that has made Cook one of the most successful chief executives in history — and one that will be difficult to replicate.

Investing in New Technologies

Under Mr. Cook’s leadership, Apple has been investing heavily in new technologies, including augmented reality and self-driving cars.

The company has also been working on a new kind of display technology, called microLED, which could eventually replace the OLED screens used in its iPhones and other devices.

Focusing on the Customer

It is no secret that Apple is one of the most successful companies in the world. In fact, it is now the largest company by market value, surpassing Google earlier this year. So, how did Apple get to where it is today?

Much of Apple’s success can be attributed to its CEO, Tim Cook. Since taking over from Steve Jobs in 2011, Cook has refocused the company on the customer, rather than the product. This has led to a more customer-centric culture at Apple and has resulted in some hugely successful products, such as the iPhone and iPad.

Cook has also been instrumental in expanding Apple’s reach beyond its traditional markets of North America and Europe. He has overseen the company’s expansion into China and other emerging markets, which has been crucial to its continued growth.

Under Cook’s leadership, Apple is now a $108B company and shows no signs of slowing down. It is clear that he is a master of customer focus and knows exactly how to keep the company growing.

Conclusion

In conclusion, it is clear that Tim Cook has had a profound impact on Apple, both in terms of its financial success and its culture. He has instilled a focus on social responsibility and sustainability, as well as a commitment to innovation and customer service. Under his leadership, Apple has become one of the most valuable companies in the world, with a market capitalization of over $1 trillion. There is no doubt that Tim Cook is one of the most successful CEOs in history.

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