Skip to main content

Apple History: The Story From Steve Job's Garage to $1 Trillion

  • Author:
  • Updated date:

I am the business consultant at Bada Business Pvt Ltd. I work with many clients to help them find their niche and grow their businesses.

The company was founded by Steve Jobs, Ronald Wayne, and Steve Wozniak in April 1976. The three friends were assembling computers in Job's parents' garage when they decided to start their own company.

Apple became 1st company to cross a $1 trillion valuation

Apple became 1st company to cross a $1 trillion valuation

Apple is one of the most recognizable companies in the world its market valuation is worth 1 trillion dollars and millions of its devices are in the hands of users from Acapulco to Zimbabwe.

From the advent of the personal computer to the dark days following Steve Jobs an ouster to the unprecedented success of the iPhone.

Apple has been revolutionizing consumer technology for decades.

Origin

Steve Jobs, Steve Wozniak, and Ronald Wayne founded Apple in the Jobs family garage in 1976.

Shortly thereafter, Wayne sold off his 10% stake in the company leaving just Jobs and Wozniak.

1976

Wozniak was the man behind Apple's first device, the Apple 1, building the first version by hand using a wooden casing. It was far from the kind of computers we know and use today and was designed as a kick computer that you would put together on your own.

1977

The Apple 2, which was also designed by Wozniak launched just a year later in 1977 there was a far more commercially successful product.

It was a self-contained system with a plastic case and keyboard, but it was the visit health spreadsheet app the brand on the Apple 2 that helped make it a must-have for businesses and business users alike.

1980

Apple released the Apple 3 in 1980, it was the first computer that Wozniak didn't design and suffered a litany of problems, heating issues caused the solder holding parts of the motherboard together to melt and for chips to pop out of their sockets, to get them back in place, Apple told users to pick up the system and slam it on a desk.

If not for the Apple 2's popularity, Apple could have been in serious trouble.

In a 1985 interview with Playboy, Jobs said the losses from the Apple 3 were incalculable. Apple also filed its IPO in December 1980 at a price of $22 per share. The stock has split four times since then.

Following the Apple 3, Apple began work on the Lisa and Macintosh. Both systems were meant to run graphical user interfaces or GUI's.

GUI's are collections of window programs icons and folders. We depend on using computers to this day prior to the advent of the GUI users would interact with their computers using programmable languages.

The Lisa debuted in 1983 but failed due to its $10,000 price tag, still, it was the first consumer computer to come with a mouse and more importantly a GUI.

The Macintosh, on the other hand, proved incredibly successful for Apple.

It was the first mass-market consumer price computer and used a GUI and mouse light to Lisa at $2,495 the Macintosh still wasn't cheap, but it was far from the $10,000 Lisa.

Neither Jobs nor Wozniak was Apple's CEO when the company started.

Scroll to Continue

Its first CEO was Michael Scott who came over from national semiconductor in 1977. Mike Markkula an early investor and Apple's third employee took over from Scott in 1981 and headed the company until 1983.

It was in 1983 that Jobs famously pitched, then Pepsi CEO John Sculley to be Apple's next CEO by asking him whether he wanted to sell sugared water for the rest of his life or changed the world.

Sculley and Jobs initially hit it off but their relationship soon sounds and in 1985 Jobs plan to out Sculley as the head of Apple in a clue.

The move however backfired and Apple's board ended up moving Jobs into the role of chairman which was far from the hands-on position Jobs wanted.

He subsequently left the company and founded the computer company “NEXT”.

Meanwhile in 1985 Wozniak frustrated with no longer being needed as the engineer at the company he helped found, announced that he would leave Apple to start up a home video production company.

At the time, Wozniak said he felt Apple have been going in the wrong direction for several years, he sold much of his stock on the way out.

Sculley led Apple from 1983 through 1993 and took the company from annual revenue of $569 Million to $8.3 Billion.

But internal strife moved Apple computers to PowerPC chips instead of Intel processors and the launch and failure of the Newton PDA led apple's board to out Sculley from his position as CEO.

Apple then turned the reins over to “Michael Spindler” during his tenure which lasted until 1996.

Spindler fought off proposals seeking to split Apple into separate companies for hardware and software. Unfortunately, he also oversaw Apple falling behind in the PC price wars which saw the company eventually license its OS 7 operating system to other computer manufacturers creating a handful of Mac clones.

Those systems however ended up cutting into Apple's bottom line.

In 1996, Apple named “Gil Amelio” CEO his time in the driver’s seat lasted just a year, but while there he purchased NEXT Computers from Steve Jobs for $400 Million to use their operating system in Apple's computers.

Naturally part of the deal included bringing Jobs on as an advisor. The next year Emilio was out and Jobs was named interim CEO of Apple.

Back at the company he helped found Jobs went to work cutting various products and projects to make Apple as trim as possible with the goal of returning companies to profitability.

Jobs went on to lead Apple during a period of major growth with the introduction of the colorful iMac, the all-in-one computer Mac OS10, the iPod, and iTunes.

The company's crown jewel though was the iPhone which Jobs unveiled in 2007 the next year Jobs announced the App Store and later launched the iPad. Jobs also oversaw at the launch of the MacBook Air which would change how laptops and computers were designed and built for years.

Jobs however also battled pancreatic cancer later in his tenure and at times had to hand the company over to Tim Cook while seeking treatment.

When Jobs passed away from the disease in 2011. Tim Cook took over as CEO.

Apple's iPhone 5 was the last device that Steve Jobs was immediately involved in working on, since then Tim Cook and the company have been running the show. In that time Apple has released the iPad pro new desktops and laptops more than 10 additional models of iPhone's, the Apple watch, and air pods.

The company hasn't been without its controversies in the intervening years though, there were bend-gate where the new plus model iPhone 6 was set to bend in people's pockets, the time the company put you two on everyone's iPhone, and performance throttling issues.

Still, the iPhone drove the majority of Apple's growth, cementing it as the biggest comeback story in business history. That was further solidified on August 2nd when Apple's market valuation officially crossed the one trillion dollar mark from there it's any guess where the company will go, but chances are it's up.

In the years since its founding, Apple helped launch the computer revolution and oversaw the explosion of digital music and the smartphone age.

In its wake, it's left behind lesser competitors that simply couldn't match its products or staying power.

Not too bad for a company that started in a garage.


If you've read this article up to this point. I kindly request that you let me know in the comments, what do you think about Apple?

Thank you for spending some time with me.

Make sure to LIKE and FOLLOW so you never miss another article.

I’m Sourabh.

© 2022 Sourabh

Related Articles