“Started in the garage of co-founder Steve Jobs in 1976, Apple has ballooned its annual revenue to $229 billion, greater than the economic output of countries including Portugal and New Zealand,” Christine Chan and Noel Randewich report for Reuters. “Along the way to its $1 trillion stock market value, it transformed the worlds of computing, music and mobile phones.”
“The Silicon Valley company’s stock has surged over the past decade on the back of the iPhone, while record share buybacks have recently fueled more gains,” Chan and Randewich report. “Since its initial public offer on Dec. 12, 1980, Apple’s stock has surged 50,000 percent.”
“Five companies have shared the title of most valuable company on Wall Street since 1980,” Chan and Randewich report. “IBM dominated in the 1980s when it accounted for as much as 6 percent of the S&P 500. General Electric reigned supreme for much of the 1990s and at the start of the 21st century, interrupted by Bill Gates’ Microsoft during the dot-com boom. A decade ago, Exxon Mobil’s stock market value grew larger than all others on Wall Street as the oil producer benefited from recovering demand following the global financial crisis. Apple overtook the oil giant and became the most valuable U.S. company in late 2011.”
Read more, and check out the images and graphs, in the full article here.
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