- Apple’s market cap passed $3 trillion on Friday morning.
- But the iPhone-maker almost didn’t make it this far — it struggled in the ’90s until Steve Jobs returned as the company’s CEO.
- Apple has weathered hits and flops over the years, from the launch of the influential Apple II to the misguided Newton MessagePad.
Apple surpassed a $3 trillion market cap on Friday — a milestone it previously hit once last year but didn’t sustain. It closed at nearly $194 a share, making it the first public company to retain that immense valuation after the market closed.
The consumer electronics juggernaut previously reached a $2 trillion valuation in 2020, becoming the first US company to hit that mark. Apple has cemented its dominance as customers continue to buy iPhones — with the iPhone 15 expected later this year.
When Steve Jobs took over as CEO of Apple in 1997, the company had been struggling to find its legs in a market increasingly dominated by Microsoft and its partners.
Michael Dell himself once quipped that if he were in Jobs’ shoes, he’d shut Apple down and return the money to the shareholders.
Here’s a look into the history of Apple in photos, from its inception, through its hard times, to the triumphant return of Jobs.
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