Tim Cook, the present CEO of Apple Inc. (Apple) has successfully transformed the company’s market strategy over his nearly 8 and half years’ service. It was reported that Cook had able to create a remarkable upsurge of the company’s market value by adding more than $1 trillion of Apple’s market capitalization (cap) since he replaced the former co-founder Steve Jobs. It has been a remarkable performance of Cook after he became Apple’s CEO on August 24, 2011.
Cook’s Outstanding Performance in Apple
Several critics periodically attack Cook, claiming that he lacks to provide a robust vision for Apple and he has been less innovative as compared to the former CEO, Steve Jobs. However, Cook proved his critics wrong as he brought a tremendous positive transformation of the company over the years. Over the last eight-plus years, the company’s stock has soared significantly to a recent figure of $290 share value from the adjusted value of $53.74 during the initial period of Cook as Apple’s CEO.
During Cook’s reign as the CEO of the company, Apple achieved notable success for expansion its service across the globe. Besides the rapid growth of iPhone sales, Cook introduced several new products including Apple Watch, and the red-hot AirPods which contributed a large source of the company’s revenue over the years. After replacing Jobs, Cook has created about 80% of Apple’s current shares value. For the fiscal year 2019 alone, Apple gained about 85% profit that led to an increase in the company’s market cap nearly $600 billion.
The Present Competitors of Apple in Market Cap
As Barron’s magazine published, presently only two US companies own market cap above $1 trillion that is Apple’s share is valued at $1.3 trillion and Microsoft at 41.2 trillion.
In terms of performance, Microsoft’s CEO, Satya Nadella outruns Cook even though Nadella has not yet able to create a $1 trillion for now. Nadella was named as the CEO of Microsoft on February 4, 2014. Over nearly six years, Microsoft’s valuation has climbed up to $930 billion under the leadership of Nadella and he is likely to join the ‘trillion-dollar value-creation club’ much faster than Cook.
Nadella has been widely credited for reviving Microsoft’s fortunes over the years and his contribution to the cloud computing sector made a profound transformation of the company. Microsoft’s Azure service recently won the bid over the cloud computing service of the US Department of Defense in Pentagon after a tight competition from Amazon Web Services. Following the victory, Microsoft shares increased by about 58% in 2019.
Apart from that, Amazon’s CEO, Jeff Bezos is catching up with Apple and Microsoft for the trillion-dollar CEO. Amazon had earlier reached the $1 trillion level but recently declined its market share value. Jeff’s current valuation of about $925 billion is followed by Sundar Pichai’s Alphabet which has a $920 billion valuation after replacing Larry Page as the CEO of the company.
Cook’s trillion-dollar run is a milestone achievement for Apple which followed the footstep of the co-founder Steve Jobs’ vision. As per the Nasdaq Composite Index, “Apple’s stock finished 2019 at $293.65 a share on Tuesday, making for an 89% annual gain and triple the 29% rise for the benchmark S&P 500 Index.”
I’m Roshan, a journalist, blogger and music lover. I like covering global news related to finance, business, and technology. Focusing on the collection of true and reliable information, I rely on working by conducting interviews with business leaders and talking to the inside sources of companies.
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