The New “Big Apple”

Yesterday, Apple Inc. became the most valuable company in history in terms of market capitalization at $623.52 billion, surpassing the record set by Microsoft in December of 1999. It is ironic that a company that was near bankruptcy when Steve Jobs rejoined the company in 1997, and which Michael Dell once told an audience that if he were running it, he would “shut it down and give the money back to shareholders,” has risen this far. More intriguing, yet, is the fact that this was accomplished, post-internet bubble and in very uncertain times.

Steve Jobs, ultimately, proved Michael Dell’s assessment to be misguided. Dell, once the number one PC/server manufacturer in the world, has surrendered that position. By contrast, Apple, through its constant focus on innovation, became the top tech company, then surpassed Exxon-Mobil company with the highest market capitalization. Now, as the most valuable company ever, we have to say, move over New York City, there is a new “Big Apple.”