In-Depth

'Apple Reaches $2 Trillion'
'Apple Reaches $2 Trillion'
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Apple in China

3

May 20, 2021
BIG IDEA | ‘Under its chief executive, Tim Cook, Apple’s most important innovation in recent years has arguably been its nearly unrivaled ability to generate profits.’
‘Mr. Cook has built a sophisticated global supply chain to produce billions of devices — most assembled in China — and leaned into a product line designed to lock customers into its ecosystem so they buy new gadgets every few years and pay monthly fees to use Apple’s suite of digital services.’

‘It took Apple 42 years to reach $1 trillion in value.’

  • ‘It took it just two more years to get to $2 trillion, the first ever to do so.’
  • ‘Even more stunning: All of Apple’s second $1 trillion came in the past 21 weeks, while the global economy shrank faster than ever before in the coronavirus pandemic.’

‘Apple first reached $1 trillion in August 2018, after decades of innovation.’

  • ‘The company, founded in 1976 by Steve Jobs and Steve Wozniak, churned out world-changing products like the Macintosh computer, the iPod, the App Store and the iPhone.’

‘Apple’s rapid rise to $2 trillion is particularly astonishing because the company has not done much new in the past two years.’

‘Under its chief executive, Tim Cook, Apple’s most important innovation in recent years has arguably been its nearly unrivaled ability to generate profits.’

  • ‘Mr. Cook has built a sophisticated global supply chain to produce billions of devices — most assembled in China — and leaned into a product line designed to lock customers into its ecosystem so they buy new gadgets every few years and pay monthly fees to use Apple’s suite of digital services.’
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