Apple Computer is incorporated.

Apple Inc., an iconic American multinational technology company, stands as a global leader specializing in the design, development, and sale of innovative consumer electronics, sophisticated computer software, and a wide array of online services. Its financial prowess is undeniable, evidenced by its status as the largest information technology company by revenue, achieving a remarkable US$365.8 billion in 2021. Furthermore, as of January 2021, Apple held the prestigious title of the world's most valuable company. In terms of market presence, it consistently ranks among the top, notably as the fourth-largest personal computer vendor by unit sales and the second-largest mobile phone manufacturer globally. Apple is also recognized as a cornerstone of the American tech industry, forming part of the "Big Five" alongside other titans like Alphabet (Google's parent company), Amazon, Meta (formerly Facebook), and Microsoft.

The genesis of Apple dates back to April 1, 1976, when it was established as Apple Computer Company by the visionary trio: Steve Jobs, Steve Wozniak, and Ronald Wayne. Their initial objective was to develop and market Wozniak's groundbreaking Apple I personal computer, a pioneering step in the nascent personal computing era. The enterprise was formally incorporated by Jobs and Wozniak as Apple Computer, Inc. in 1977, marking a pivotal moment. The subsequent release of the Apple II proved to be a phenomenal success, significantly boosting the company's profile. Apple's public offering in 1980 was met with immediate financial triumph, solidifying its position in the burgeoning tech landscape. The company continued to push boundaries, introducing revolutionary computers that featured innovative graphical user interfaces (GUIs), a paradigm shift from text-based interfaces. A prime example was the original Macintosh, unveiled to the world through the critically acclaimed "1984" Super Bowl advertisement, a cinematic masterpiece directed by Ridley Scott that symbolically challenged the status quo of computing. However, by 1985, internal strife and the premium pricing of Apple's products led to significant challenges. Steve Wozniak amicably withdrew from the company, while Steve Jobs, after internal power struggles, resigned to establish NeXT Inc., taking several key Apple employees with him.

The 1990s witnessed a rapid expansion and evolution within the personal computer market, during which Apple experienced a substantial decline in market share. This was largely due to the formidable, lower-priced "Wintel" duopoly – a term referring to the dominance of Microsoft's Windows operating system running on Intel-powered PC clones. This period pushed Apple to the brink. In 1997, facing imminent bankruptcy, Apple made a strategic decision to acquire NeXT Inc., a move that not only aimed to rectify Apple's floundering operating system development strategy but also crucially paved the way for Steve Jobs' much-anticipated return to the company. Under Jobs' renewed leadership over the subsequent decade, Apple underwent a remarkable turnaround, successfully navigating its path back to unprecedented profitability. This revitalization was driven by a series of transformative initiatives: the introduction of groundbreaking products such as the colorful iMac (which redefined personal computer design), the revolutionary iPod (which revolutionized portable music), the iconic iPhone (which fundamentally changed the mobile phone industry and ushered in the smartphone era), and the versatile iPad (which popularized tablet computing). Additionally, Jobs championed memorable advertising campaigns, established the widely successful Apple Store retail chain, and executed numerous strategic acquisitions to significantly diversify and strengthen Apple's product and service portfolio. In 2011, Steve Jobs resigned from his CEO role due to health concerns and sadly passed away two months later. He was succeeded by Tim Cook, who continues to lead the company.

Under Tim Cook's leadership, Apple continued its extraordinary growth trajectory, achieving historic financial milestones. It became the first publicly traded U.S. company to surpass a market valuation of $1 trillion in August 2018. This monumental achievement was followed by reaching $2 trillion in August 2020, and most recently, an astonishing $3 trillion in January 2022, underscoring its unparalleled market dominance. Despite its immense success and widespread popularity, Apple is not immune to scrutiny. The company frequently faces criticism concerning various aspects of its operations, including the labor practices of its global contractors (particularly regarding working conditions and wages in manufacturing facilities), its environmental impact (such as energy consumption and waste management), and broader business ethics. Specific concerns have been raised about alleged anti-competitive practices, often related to its App Store policies, and the ethical sourcing of materials used in its products. Nevertheless, Apple continues to command an exceptionally high level of brand loyalty among its global customer base. This fervent dedication, combined with its consistent innovation and market performance, consistently places Apple among the world's most valuable and recognized brands.

Frequently Asked Questions About Apple Inc.

What does Apple Inc. specialize in?
Apple Inc. specializes in consumer electronics, software development, and providing a wide range of online services.
When was Apple founded and by whom?
Apple Computer Company was founded on April 1, 1976, by Steve Jobs, Steve Wozniak, and Ronald Wayne. It was later incorporated as Apple Computer, Inc. in 1977 by Jobs and Wozniak.
What were some key products that led to Apple's resurgence under Steve Jobs?
Key products that spearheaded Apple's return to profitability included the iMac, iPod, iPhone, and iPad, each revolutionizing their respective market segments.
Who succeeded Steve Jobs as CEO of Apple?
Tim Cook succeeded Steve Jobs as the CEO of Apple in 2011.
What criticisms does Apple typically face?
Apple sometimes receives criticism regarding the labor practices of its contractors, its environmental footprint, and its business ethics, including concerns about anti-competitive practices and materials sourcing.