The history of Apple in photos, from the early Steve Jobs era and iPhone launch to crossing the $3 trillion milestone under Tim Cook
- Apple hit a $3 trillion market cap for the first time in 2023.
- The iPhone maker now faces a series of blows, from falling iPhone sales in China to a DOJ lawsuit.
- Here's a look at how Apple has evolved, in photos, since its inception amid a number of challenges.
Last June, Apple became the first public company to hit a $3 trillion market cap after market close.
It's a milestone that reinforced the tech titan's dominance in the consumer electronics sector. But now, the tech giant seems to be losing its luster as it faces a sharp drop in iPhone sales in China, a nearly $2 billion fine from the EU, and an anti-trust lawsuit from the US Department of Justice, amid other woes.
So, how did one of the most influential tech companies in the world find itself in this position?
Here's a look into the history of Apple in photos, from its inception, through its hard times, to the triumphant return of Jobs.
Jobs brought Wayne on board to provide business guidance for the two young cofounders.
Wayne sketched the first Apple logo by hand.
The cofounder ended up leaving the company before it was even officially incorporated. He took an $800 check for his shares in the company.
Source: Business Insider
Source: Business Insider
Customers had to build their own case and add their own keyboard and monitor, as seen in the picture above.
It sold for $666.66 — seriously.
The Apple I was invented by Wozniak, who also hand-built every kit.
Meanwhile, Jobs handled the business end, mainly trying to convince would-be investors that the personal computer market was primed to explode.
Source: CNET
Apple would officially incorporate in 1977, thanks to guidance from Markkula.
Source: The New York Times, CNBC
The thought was that Jobs was too young and undisciplined to serve as CEO.
Source: Business Insider
The Apple II's killer app was VisiCalc, a groundbreaking spreadsheet software that propelled the computer ahead of market leaders Tandy and Commodore.
With VisiCalc, Apple could sell the Apple II to the business customer.
Source: Business Insider
In 1979, Apple engineers were allowed to visit the PARC campus for three days, in exchange for the option to buy 100,000 shares of Apple for $10 a share.
A year later, Apple released the Apple III, a business-focused computer that was supposed to compete with the growing threat of IBM and Microsoft.
But the Apple III was only a stopgap, and Xerox PARC had gotten the young Jobs thinking in a different direction.
Source: Newsweek , Byte Magazine
Jobs spearheaded the effort to equip Apple's next-generation Lisa computer with a GUI, but was bumped from the project thanks to infighting.
Lisa was released in 1983 to much fanfare, but disastrous sales — it was too expensive and didn't have enough software support.
It would go on to become popular with graphic-design professionals, who liked its visual chops (even though it was in black and white).
It was still very expensive, however.
Source: The Guardian
Sculley was serving as Pepsi's youngest-ever CEO, but Jobs managed to bring him to Apple with the now-legendary pitch: "Do you want to sell sugared water for the rest of your life? Or do you want to come with me and change the world?"
Source: Forbes
Originally, Microsoft was working hard at making software for the Macintosh. But those plans were scuttled in 1983 when Microsoft revealed that it, too, was working on a graphical user interface called Windows.
Source: Business Insider
This led to a lot of friction between Jobs — the head of the Macintosh group who liked doing things his own way — and Sculley, who wanted stricter oversight on future products in light of the Lisa disaster and disappointment of the Macintosh.
Differences between the two leaders got to the point where Apple's board specifically instructed Sculley to "contain" Jobs.
Source: Business Insider, Fortune
A furious Jobs quit and went on to found NeXT, a computer company making advanced workstations where he had total control.
Source: Fortune, Business Insider
With Jobs gone, Sculley had a free hand at Apple.
Source: CNN
System 7 introduced color to the Macintosh operating system, and would stick around (with updates) until OS X was released in 2001.
Source: Engadget, Cult of Mac
Possibly the most famous Apple flop of the '90s was 1993's Newton MessagePad, which was Sculley's own brainchild.
It literally created the market for "personal digital assistants," but it was $700 and did little more than take notes and keep track of your contacts.
Source: Baltimore Sun, Time, MacWorld
Most software was written for Intel processors, plus they got cheaper and cheaper over the years.
Source: Cult of Mac
Macs offered an excellent, but limited, library of software on expensive computers.
Meanwhile, Microsoft was selling Windows 3.0 on cheap, commodity computers.
Source: Microsoft
Spindler had the unfortunate job of following through with Sculley's big PowerPC mistake.
Source: Washington Post, Los Angeles Times
After acquisition talks with IBM, Sun MicroSystems, and Philips all fell through, Apple's board replaced Spindler with Gil Amelio in 1996.
Source: The New York Times
Under his reign, Apple stock hit a 12-year low (largely because Steve Jobs himself sold 1.5 million Apple shares in a single transaction).
Amelio decided to just purchase Jobs' NeXT Computer for $429 million in February 1997 to bring him back to Apple.
Amelio resigned a week later.
Source: The New York Times
Source: Cult of Mac
Source: CNBC
Jobs had Jony Ive spearhead the design of the iMac, an all-in-one computer released in 1998.
In 2000, Jobs introduced Mac OS X, based on the operating system from NeXT Computers, finally replacing System 7.
And in 2006, Apple finally moved to an Intel-based system architecture.
It blew other MP3 players out of the water and radically altered the way we listen to music.
The iPod also launched Apple's white earbuds as a status symbol.
Source: Business Insider
When the iPhone went on sale, customers lined up outside stores in the US to get their hands on one.
Source: Cult of Mac
Under CEO Tim Cook — who took over after Jobs' death in 2011 — Apple has introduced new hardware product lines, including the Apple Watch and AirPods.
Source: CNBC
Apple now offers its own music- and video-streaming services, its own payments system and credit card, and other subscription offerings in news and gaming.
Source: Business Insider
Source: Business Insider
Apple said at the time that LoveFrom would be one of his company's "primary clients." The two companies' relationship wound down in 2022, according to The New York Times, which reported there were frustrations on both sides about the arrangement.
Source: Business Insider; The New York Times.
The beloved Apple comedy series "Ted Lasso" also won four Emmys that year.
Source: Apple
The company had previously said that pandemic-related delays had affected production of some of its devices, including the iPhone 14 Pro.
Source: Apple earnings report and release.
Source: Insider; Yahoo Finance.
Source: Yahoo
Following the September launch, some Apple fans said the iPhone 15 appears nearly identical to its most recent predecessors. They claimed its a design choice that reflects Apple's lack of innovation on the smartphone front.
Source: Business Insider
The move came after the International Trade Commission ruled Apple infringed on patents for a blood oxygen tracking feature owned by health-tech firm Masimo.
The two Apple Watch models' were back on the market a month later, this time without the health monitoring feature.
Sources: Business Insider
In January, Apple was forced to crack open its App Store after the European Commission pushed the company to comply with the Digital Markets Act.
Under the DMA, third-party app stores will finally be allowed on Apple's iOS operating system in the EU. That would allow developers to distribute their apps beyond the App Store, which takes a cut from app sales.
The law aims to prevent Big Tech, which the EU calls "gatekeepers," from dominating the digital marketplace.
Source: Business Insider
iPhone sales in China dropped by 24% during the first six weeks of 2024, according to data from Counterpoint Research, as local rivals like Huawei took a greater share of the region's smartphone market.
Source: Business Insider
But the reception to the Apple Vision Pro has been mixed.
Some initial users expressed awe over the Vision Pro's spatial computing capabilities. Others, however, said the headset's design, blurry screen, and lack of use cases don't justify its hefty price point. These issues may've been what lead some customers to return the product within two weeks after purchase.
Source: Business Insider.
Apple worked on its self-driving electric car, a multi-billion dollar effort dubbed "Project Titan," for nearly a decade before deciding to pull the plug, Bloomberg first reported.
Execs told nearly 2,000 employees part of the electric-vehicle team that many would be moved to the company's artificial-intelligence division, per the outlet.
Source: Bloomberg, Business Insider
Apple is expected to release the iPhone 16 later this year. It would be the first iteration of the smartphone to include generative AI features. Apple is reportedly in talks with OpenAI and Google as it decides which of the company's large language models to incorporate into the iPhone, sources told Bloomberg.
Meanwhile, the iPhone maker reportedly has plans to launch an AI tool that can write code as early as this year, according to Bloomberg. The company is also reportedly exploring the development of home robotics such as a robot that follows users around their house, per the outlet.
While Apple hasn't confirmed these developments, CEO Tim Cook said during the company's fiscal first-quarter earnings call that generative AI is a "huge opportunity for Apple." Cook's remark comes as Apple appears to lag behind tech giants' like Google, Microsoft, and OpenAI on the AI front.
The company is expected to share some news on its latest AI product offerings at a special event on May 7 and at its annual Worldwide Developers Conference in June.
Sources: Bloomberg, Business Insider
The fine came after the European Commission ruled that Apple abused its market dominance by preventing app developers from informing users of cheaper music subscription services outside of the App Store.
The iPhone maker plans to appeal the ruling on grounds that the decision lacks credible evidence and favors Spotify.
Source: Business Insider
In the suit, the DOJ and 16 attorneys point to everything from the Apple Watch's incompatibility with non-iPhones to the awkward green-bubble text messages sent through Android phones as evidence that Apple uses unfair practices to beat its competitors.
Apple denies these accusations.
Source: Business Insider
Apple reported its fiscal second-quarter earnings that beat Wall Street predictions despite concerns around China's iPhone sales.
The company saw better-than-expected sales in Greater China, though overall iPhone sales were down 10% year-over-year.
Meanwhile, CEO Tim Cook announced on the investor call its biggest-ever stock buyback of $110 billion.
Source: Business Insider
Apple says the fancy new OLED screens on the latest Pro models provide richer colors and better contrast compared to the screens on the tablet's earlier versions.
The company also unveiled a new iPad Air, as well as fresh accessories for the iPads like the Pencil Pro stylus and a Magic Keyboard.
The last major iPad release was in 2022.
Source: Business Insider, Business Insider