For Apple, the last 12 years have been a roller coaster ride. When Steve Jobs came back to the company he founded, it was near bankruptcy and actually needed the help of Bill Gates to stay a float. While Apple picked up steam with the invention of the iPod and iTunes, it wasn’t until 2007, when they introduced the world to the iPhone, that things began to really change. For the first time, the company was making more money with a product that wasn’t a Mac, still Apple stock was only above $100 or so. Then Jobs’s cancer returned and the stock dropped below $100.
When jobs returned he kept pushing forward and put in place a team and successor that would take Apple to new heights. Together with his team, Apple introduced the iPad and defied all exceptions, creating a new market that competitors are still scrambling to catch up too. With the success of the iPhone 4, iPad 2 and eventually the iPhone 4S, Apple for the first time overtook Exxon/Mobile as the worlds most valuable company, far surpassing its competitor, Microsoft. Then early this year, Apple’s stock passed the $500 mark, again, another first for Cupertino.
Then just yesterday, after months of speculation and rumors, Apple finally sent an invite to the media informing them of an event that is schedule on March 7th in San Francisco. This event is for the next iteration of the iPad, dubbed the iPad 3, which will feature a faster processor, better cameras and of course, an HD Retina Display. This news, combined with rumors of the device itself, sent Apple’s stock beyond $545 bring the companies market cap over $500 billion dollars. Apple market cap is staggering for a computer/electronics company who’s only really had one product, which was a rehash of previous product, launch in the last year. As the Verge points out, Apple’s $505 billion dollar worth (at the time of writing this piece) is close to that of Google, Microsoft and Facebook….combined (collectively, they sit at $567 billion).
We expect to see Apple continue to climb, especially once the iPad 3 is announced, again, when it goes on sale. Let’s also not forget about the iPhone 5/6 that will receive a rumored redesign with a larger display, NFC and LTE. If a slightly modified iPhone 4 (ie. the 4S) gave Apple the best quarter in the companies history, imagine what this completely redesigned device will do.