Apple is a company that needs little introduction. As one of the world’s most recognizable brands and one of just a few $2 trillion companies, there’s a very little chance that you aren’t familiar with Apple. In fact, there’s a very good chance that you’re reading this article from an Apple-designed product. Apple is one of the world’s most innovative companies and there is plenty to learn by examing their business.
Let’s take a look at 10 facts about Apple.
1.) The world’s most valuable fruit
With a current market cap of about $2.45 trillion, Apple is one of the world’s most valuable companies and one of just a few that are worth over $2 trillion (along with Microsoft). If you’re not familiar, a company’s market capitalization is a method for valuing a company. It involves multiplying all of the outstanding shares of stock by their current price.
2.) The billionaire that never was
Many people are familiar with Steve Jobs and Steve Wozniak as two of the famous founders of Apple. However, there was also a third person who helped found Apple named Ronald Wayne. He owned about 10% of the company at the time and sold his shares for about $800. Had he held onto his 10% share, he’d be worth about $60 billion today.
3.) A nice chunk of change
In 2019, Apple had just under $50 billion in cash on hand. This is enough for Apple to buy Ford, Twitter, or Mariott in a cash sale.
4.) Steve Jobs made more money from Disney
Steve Jobs is the legendary founder of Apple and definitely made plenty of money during his time as CEO of the technology giant. However, the bulk of his net worth actually came from the sale of Pixar to Disney, which Jobs helped to negotiate.
5.) Apple makes plenty of profit
Although some companies make plenty of sales, not all of them generate a profit. A large part of this comes down to how much money they earn per product sold (referred to as the profit margin). For example, if a company earns only 5 cents in profit for each product that they sell then their profits could quickly get eaten up by expenses. This is not a problem that Apple has to worry about.
Apple reports a gross margin of about 40%, which means that they are making 40 cents per $1 of product that they sell. Their best-selling product, the iPhone, has an even higher profit margin at about 50%.
6.) Apple has sold iPhones to a quarter of the world
Since they were first launched, Apple has sold about 1.9 billion iPhones. Since the world population currently sits at about 7.6 billion, Apple has sold enough iPhones to give one to one-fourth of the world’s population. In 2020 alone, they shipped out 206 million iPhones and currently enjoy 65% of the smartphone sales in the United States.
7.) Steve Jobs: Fashion Icon?
A pair of Italian brothers realized that Apple never trademarked Steve Jobs’ name. They rushed to trademark it and then launched a fashion brand based around the name Steve Jobs. The brothers even adopted to logo to look like a J with a bite taken out of it (mirroring Apple’s Apple). Apple, of course, tried to sue the brothers but lost in court.
8.) The fastest computer on Earth
If you could take an iPad and travel back to 1994, you would be the owner of the fastest computer on Earth. This gives you a good idea of just how quickly computing power has increased in a short span of time.
9.) The iPod was almost rejected
Tony Fadell is responsible for creating the iPod, one of the world’s most popular products. However, he first tried to pitch the idea to RealNetworks and Philips, both of whom shot it down. Eventually, he brought it to Apple and the rest is history.
10.) How fast to reach a million?
When Apple first developed the iPhone, it took them about one year to reach the benchmark of “one million iPhones sold”. However, by the time the iPhone 6 was developed, Apple has grown immensely in terms of popularity. When the iPhone 6 was released, Apple sold a million phones during the first weekend.
We hope that you’ve found this article valuable when it comes to learning a few facts about Apple. If you are interested in learning more, please subscribe below to get alerted of new articles.