The New York Times reported that “Apple became the first publicly traded American company to be worth more than $1 trillion when its shares climbed 3 percent to end the day at $207.39. The gains came two days after the company announced the latest in a series of remarkably profitable quarters.” The August 3, 2018 article entitled “Apple Is Worth $1,000,000,000,000. Two Decades Ago, It Was Almost Bankrupt” described the introduction of the iMac G3in 1998 and the introduction of the iPod following the copyright infringement losses of Napster:
The company’s revitalization was confirmed with the iPod, the portable music player that almost immediately changed consumers’ relationship with music.
The iPod, which debuted in 2001 and went on to sell more than 400 million units, showed that Apple wasn’t just a computer company.
The device was paired with iTunes, the company’s music store, which would help upend the recording industry.
And it portended a bigger product to come.
Amazing that Steve Jobs managed to turn Apple around which resulted in $1 trillion valuation!