From the history of Apple: How the Californian giant began to steeply increase in value

There is absolutely no doubting the size and success of Apple in recent years. The Cupertino company began to return to prominence in the late 2011s, when its co-founder Steve Jobs took over the helm. In today's part of our return to history, we will remember the year XNUMX, when Apple became the most valuable company in the world.

It happened during the first half of August 2011. At that time, Apple managed to overtake the oil giant ExxonMobil and thus win the title of the most valuable publicly traded company in the world. This milestone perfectly capped off the stunning turnaround that has taken place at Apple. Just a few years ago, it looked like the company would definitely disappear into the abyss of history.

Just as it's hard to put into words how different it felt to be an Apple fan in the 90s compared to today, Apple's meteoric rise in the 2000s was something that was simply great to experience—even as an observer. The return of Steve Jobs to the company turned out to be one of the best moves, followed by a series of almost flawless decisions. First came the iMac G90 in the late 3s, a few years later the iMac G4, the iPod, the Apple Store, the iPhone, iTunes, the iPad, and much more.

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As this incredible hit streak continued, Apple slowly but surely began to climb the stock market charts. In January 2006, it overtook Dell—a company whose founder once said Apple would shut down and return money to its shareholders. In May 2010, Apple overtook Microsoft in market capitalization, surpassing the tech giant that had dominated virtually the entire previous decade.

As of August 2011, Apple had been approaching ExxonMobil in terms of market value for some time. After that, Apple reported a record profit for the previous quarter. The company's profits rose sharply. Apple proudly boasted more than two dozen million iPhones sold, more than nine million iPads sold, and an associated increase in profits of a whopping 124%. ExxonMobil's profits, on the other hand, were negatively affected by falling oil prices. The two events combined to briefly push Apple into the lead, with the company's market value reaching $337 billion compared to ExxonMobil's $334 billion. Seven years later, Apple could claim another important milestone - it became the first American publicly traded company with a value of 1 trillion dollars.