Apple is now the world’s most valuable company, but it wasn’t always that way. In fact, when Tim Cook took over as CEO, Apple was struggling. Here’s how he turned it around.
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Apple Inc is an American multinational technology company headquartered in Cupertino, California, that designs, develops, and sells consumer electronics, computer software, and online services. The company’s hardware products include the iPhone smartphone, the iPad tablet computer, the Mac personal computer, the iPod portable media player, apple watch smartwatch, apple tv digital media player, and the HomePod smart speaker. Apple’s software includes the macOS and iOS operating systems, the iTunes media player, the Safari web browser, and the iLife and iWork creativity and productivity suites. Its online services include the iTunes Store, the iOS App Store and Mac App Store, Apple Music, and iCloud.
In 2019, Fortune magazine named Cook as one of The World’s Greatest Leaders for his work in human rights and social justice. In 2020 Business Insider ranked Cook as number one on its list of “The 100 people transforming business”. As of March 2020 , Cook’s total compensation as CEO was $13 million per year.
The early days of Apple
In 1984, Tim Cook began his career at Apple as a manufacturing engineer. He soon rose through the ranks, becoming first a senior production manager and then, in 1998, the head of worldwide operations. In this role, he was responsible for streamlining and scaling Apple’s manufacturing and distribution processes.
Cook’s efficient management style caught the attention of then-steve jobs who tapped him to be the company’s chief operating officer in 2007. In this role, Cook oversaw all of Apple’s day-to-day operations, from product development to sales and marketing.
When Jobs stepped down as CEO in 2011 due to health issues, Cook was his natural successor. He was officially named CEO that same year.
Under Cook’s leadership, Apple has transformed into a $95B business. He has navigated the company through some of its biggest challenges, including the launch of the iPhone 6 Plus (which was plagued with “bendgate”), the rollout of the ill-fated Apple Maps service, and the ongoing battle with law enforcement over encryption.
Cook has also made some bold moves that have paid off handsomely for Apple. He was instrumental in both acquiring Beats Music (now Apple Music) and launching apple watch He has also expanded Apple’s reach into new markets like China and India.
Thanks to Cook’s leadership, Apple is now stronger than ever before. And with the recent release of the iPhone 8 and iPhone X, it shows no signs of slowing down anytime soon.
The return of Steve Jobs
In 2011, Apple was facing a problem. The company had just released the iPhone 4s, which many deemed a disappointment compared to the groundbreaking iPhone 4. Antennagate – the saga of the phone’s death grip – had just blown over, but not before dealing a serious blow to Apple’s reputation. And worst of all, Steve Jobs – the man who built Apple into the most successful tech company in the world – had died of cancer just months earlier.
Understandably, then, many were skeptical when Tim Cook – Jobs’ handpicked successor – took the stage at Apple’s annual developer conference in June of that year to unveil the iPhone 5. But what followed was one of the most impressive product launches in Apple’s history.
The iPhone 5 was everything that the 4s should have been: thinner, lighter, faster, with a better camera and a larger screen. It was also accompanied by a completely redesigned Maps app and an all-new digital payments system called Apple Pay.
In short, it was exactly what Apple needed at that moment – a game-changing product that proved Cook was more than capable of leading the company in Jobs’ absence.
Today, Apple is once again on top of the world. Thanks in large part to Cook’s leadership, it is now the most valuable company in the world with a market cap of over $950 billion.
The post-Jobs era
When Jobs died in October 2011, many commentators predicted that Apple would lose its way without its visionary co-founder at the helm. By the end of that year, however, it had become clear that Tim Cook, who had taken over as chief executive, was more than capable of leading the company to continued success.
Under Cook’s leadership, Apple’s market value has soared to more than $950 billion, making it the most valuable publicly traded company in the world. Revenue and profit have more than doubled, and the company has launched a succession of hit products, from the iPhone 6 to apple watch
Cook has not been without his critics; some have accused him of being too cautious and lacks Jobs’s flair for marketing and product design. But there is no doubt that he has been an extremely effective CEO, steering Apple through a period of immense change and keeping its place at the forefront of the technology industry.
apple watch and other new products
When Tim Cook took over as Apple CEO from the late Steve Jobs in 2011, some worried that the company might lose its way. Jobs was a hard act to follow, after all, and had been responsible for some of Apple’s most iconic products, from the iPod to the iPhone.
But under Cook’s leadership, Apple has not only maintained its position as one of the world’s most valuable companies, it has actually increased its value, becoming the first public company to be worth $1 trillion earlier this year. So how did Cook do it?
In part, by continuing to innovate with new products like apple watch and AirPods, and by expanding into new markets like China. But he also made some smart decisions when it came to running the company, streamlining its operations and supply chain, and investing heavily in research and development.
Thanks to all of these factors, Apple is now worth more than $95 billion – not bad for a company that was once on the brink of bankruptcy.
The future of Apple
Apple is now the world’s most valuable company, worth an estimated $95 billion. But it wasn’t always that way. In 1997, when Steve Jobs returned to Apple as interim CEO, the company was in danger of going bankrupt. Jobs turned Apple around, and when he died in 2011, he left the company in the capable hands of Tim Cook.
Under Cook’s leadership, Apple has continued to prosper. He has made some bold decisions, such as removing the headphone jack from the iPhone 7, that have kept Apple at the forefront of technology. He has also forge strong relationships with key suppliers, such as Foxconn, that have helped Apple to stay ahead of the competition.
The future looks bright for Apple under Tim Cook’s leadership. With strong products and a strong supply chain, the company is well-positioned to continue its impressive run in the years to come.