Apple Company Profile
Apple Inc. (formerly Apple Computer) is a major international computer and media corporation. Founded in a garage in 1976 by Steve Jobs and Steve Wozniak, today the company is one of the world's largest manufacturers of personal computers, and by market capitalization, one of the world's largest corporations.
Apple Inc. has a long and complex history. The company first came to prominence manufacturing the Apple II personal computer. In 1984, Apple introduced the new Macintosh line; the Apple II was phased out by the early 1990s. With the meteoric rise of Microsoft's Windows operating system running on cheap PC clones, Apple's fortunes fell. In 1997, the company bought NeXTStep, bringing the departed Steve Jobs back to Apple. The following year, Apple began a resurgence with the release of the iMac. Over the following decade, Apple increased its market share, and returned to profitability driven by the cutting-edge industrial design of its products and the new Mac OS X operating system. In the 21st century, Apple has diversified its product line, introducing the iPod line of MP3 players, the successful iTunes music store and the iPhone.
Apple is currently headed by CEO Tim Cook. The company's market capitalization stands well in excess of $300 billion; Apple briefly eclipsed Exxon Mobil as the largest corporation in the world in 2011. Apple's product lines include Macintosh computers and MacBook laptops, as well as the iPhone and iPod portables and the iPad tablet. Apple operates the iTunes Music Store, the largest online music store in the world, as well as the iCloud service.
With a dominant market position in the coveted entertainment and smartphone markets and profit margins of 20 percent or more on many product lines, Apple Inc.'s fortunes are booming, and the company's market share continues to grow.