was incorporated on January 3, 1977, without Wayne, who had left and sold his share of the company back to Jobs and Wozniak for $800 only twelve days after having co-founded it. : 180 Wozniak later said he was unaware of the coincidental mark of the beast in the number 666, and that he came up with the price because he liked "repeating digits". It went on sale soon after debut for $666.66 (equivalent to $3,400 in 2022). The Apple I was sold as a motherboard with CPU, RAM, and basic textual-video chips-a base kit concept which would not yet be marketed as a complete personal computer. Wozniak debuted the first prototype Apple I at the Homebrew Computer Club in July 1976. : 57 Neither received the full selling price but in total earned $1,300 (equivalent to $6,700 in 2022). To finance its creation, Jobs sold his Volkswagen Bus, and Wozniak sold his HP-65 calculator. The company's first product was the Apple I, a computer designed and hand-built entirely by Wozniak. The Apple II Plus was introduced in 1979, designed primarily by Wozniak.Īpple Computer Company was founded on April 1, 1976, by Steve Jobs, Steve Wozniak, and Ronald Wayne as a partnership. It received an aftermarket keyboard and wooden case. The Apple I is Apple's first product, designed by Wozniak and sold as an assembled circuit board without basic features such as a keyboard, monitor, and case. Wozniak called the popular belief that the company was founded in the garage "a bit of a myth", although they moved some operations to the garage when the bedroom became too crowded. § 1971–1985: Jobs and Wozniak In 1976, Steve Jobs and Steve Wozniak co-founded Apple in Jobs' parents' home on Crist Drive in Los Altos, California. It has also been consistently ranked as one of the world's most valuable brands. Nevertheless, the company has a large following and enjoys a high level of brand loyalty. The company receives criticism regarding the labor practices of its contractors, its environmental practices, and its business ethics, including anti-competitive practices and materials sourcing. In June 2023, it was valued at just over $3 trillion. company to be valued at over $1 trillion in August 2018, then at $2 trillion in August 2020, and at $3 trillion in January 2022. When Jobs resigned in 2011 for health reasons, and died two months later, he was succeeded as CEO by Tim Cook.Īpple became the first publicly traded U.S. Over the next decade, Jobs guided Apple back to profitability through a number of tactics including introducing the iMac, iPod, iPhone and iPad to critical acclaim, launching the " Think different" campaign and other memorable advertising campaigns, opening the Apple Store retail chain, and acquiring numerous companies to broaden the company's product portfolio. In 1997, weeks away from bankruptcy, the company bought NeXT to resolve Apple's unsuccessful operating system strategy and entice Jobs back to the company. Wozniak stepped back from Apple and pursued other ventures, while Jobs resigned and founded NeXT, taking some Apple employees with him.Īs the market for personal computers expanded and evolved throughout the 1990s, Apple lost considerable market share to the lower-priced duopoly of the Microsoft Windows operating system on Intel-powered PC clones (also known as " Wintel"). By 1985, the high cost of its products, and power struggles between executives, caused problems. The company developed computers featuring innovative graphical user interfaces, including the 1984 original Macintosh, announced that year in a critically acclaimed advertisement called " 1984". Apple went public in 1980 to instant financial success. The company's second computer, the Apple II, became a best seller and one of the first mass-produced microcomputers. It was incorporated by Jobs and Wozniak as Apple Computer, Inc. It is considered one of the Big Five American information technology companies, alongside Alphabet (parent company of Google), Amazon, Meta (parent company of Facebook), and Microsoft.Īpple was founded as Apple Computer Company on April 1, 1976, by Steve Wozniak, Steve Jobs and Ronald Wayne to develop and sell Wozniak's Apple I personal computer. As of June 2022, Apple is the fourth-largest personal computer vendor by unit sales the largest manufacturing company by revenue and the second-largest mobile phone manufacturer in the world. As of March 2023, Apple is the world's largest company by market capitalization, and with US$394.3 billion the largest technology company by 2022 revenue. is an American multinational technology company headquartered in Cupertino, California.
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