Almost exactly six years ago, I wrote a post on TechCrunch
marveling at Apple’s market cap. The company had just hit $623 billion, which meant it was in new territory: the most highly valued U.S. company ever (surpassing 1999-era Microsoft, not counting for inflation).
That seems so quaint now.
Even more mind-boggling is that the majority of this company value has accumulated
in the post-Steve Jobs era of Apple. When Jobs passed away, the company was worth a “mere” $350 billion. That was $650 billion ago. That was just seven years ago.
Of course, it has mainly been the products that Jobs put in motion that have propelled Apple to this milestone. Namely, the iPhone. It will go down as one of the, if not the
, best business of all time
. Some of that was good fortune (the phone makers were asleep at the wheel) some of it was good timing (AT&T needed something to combat Verizon in the subsidized carrier wars), but most of it was just a truly great product. All of us, whether you’re an iOS user or an Android user, now carry around that device’s direct descendent in your pocket at all times. And it’s undoubtedly your most used computer.
And the iPhone truly did bestow a “halo effect” over every other Apple product. This had started happening thanks to the iPod, but the iPhone bolstered, extended, and expanded the ring. It is why Apple became the most valuable company – a trillion dollar company.
So much has been said and written today reflecting back on the time Apple was left for dead
. But even far more recently than that, it would have been preposterous to say it would one day be worth a trillion dollars. That number may as well have been infinity.
Even just those six years ago, as I wrote:
At that point, the race may be on to the $1 trillion market cap.
It sounds crazy to think they could hit that mark.