Apple’s Trillion Dollar Valuation

iCan’t seem to innovate anymore, but iDon’t care

What’s the difference between Steve Jobs apple and Tim Cook’s apple? A lot, but nothing for the better as it turns out. The iWatch is the only product that Jobs hasn’t had a major involvement in, other than that, the products are all the same. Just a new version of each product each year, over and over. However, you must have heard that Apple is now worth a trillion dollars. This feat was achieved exactly 9 months after it became the first $900 billion company.

Apple beat out its nearest competitor, Amazon Inc., which is still $105 billion away from the 13-digit milestone.  The tech company reached this historic landmark when its shares hit $207.05. Apple’s share prices grew multifold after Tim Cook  replaced Jobs as CEO in 2011.

To put up a comparison, Apple’s stock market value is more than economies of Switzerland and Turkey. The tech giants are currently sitting on a massive mountain of $285 billion in only cash reserves. However, to be honest it’s all due to Steve Jobs.

The best part about Jobs was that whenever he introduced a product, it was never the first of its kind, but it was always better. The delivery to the public was always better than its competitors, the iPod being a case in point. Nothing new technology wise, but absolutely blew away the Sony Walkman. As a result, he could and did command a premium. Moreover, customers till today are more than willing to pay big money for the product’s superiority. The aura around the company is what people pay for, since there are better phones than the iPhone, better laptops and desktops than the Mac and definitely better smartwatches than the iWatch.

Fully trust Apple to introduce a waterproof phone and call it “revolutionary” or a touchscreen macbook and deem it to be “transcending barriers”. Both these situations might actually happen, and fully expect sales to go through the roof and people camping outside the stores days earlier. ( Much like what happens with the launch of any “new” product already ). Are people getting wise to Apple not innovating at all, and just slightly improving every new version annually? Sure, a lot of people are. But are people willing to switch over from Apple to any other company? No way. If they can afford Apple, they’re buying Apple. Unless of course they’re smart and want products with a plethora of features that can resist the odd fall or water damage instead of a thousand dollar status symbol whose safety must be placed above even your own. None of that matters though, an iPhone is an iPhone. There’s literally memes on the internet that say “ My iPhone could explode in my hand and I still wouldn’t buy a Samsung” and many other to the same effect. Again, credit goes to Jobs for creating the mentality behind this, something that took many years to come to fruition but it gradually did, and it’s worth a trillion dollars today.

Tim Cook has done a decent job of keeping the company’s head above water and sustaining. However, the status quo isn’t what Jobs stood for. I can’t even say that Apple urgently needs to innovate or else they might risk losing their value and status. Mainly because that just isn’t the case. The brand and its products are way too embedded into society to be going out of style anytime soon, though it would be great if they could make Steve Jobs proud by actually coming up with something new.

 

By Abhishek Aggarwal

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