“Five years ago today, Steve Jobs resigned as the CEO of Apple, passing the torch to his longtime deputy Tim Cook,” Dan Frommer reports for Recode. “(Jobs died less than three months later.)”

“Since then, Cook has presided over Apple’s continued meteoric rise — and its first speed bumps,” Frommer reports. “Under Cook, Apple has built its biggest business — by far. The company he inherited from Jobs was just about to pass $100 billion in annual (fiscal 2011) revenue and $25 billion in profit. By fiscal 2015, it would more than double, to $234 billion in revenue and $53 billion in profit.”

Frommer reports, “This summer, Apple shipped its billionth iPhone — not bad for a business that didn’t exist a decade ago.”

Read more in the full article here.

MacDailyNews Take: In those five years, Apple’s headcount has more than doubled. That’s a lot to absorb with very little outward appearance of growing pains.

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