Steve Jobs vision is fulfilled by Apple CEO Tim Cook
"Apple also has stumbled a few times under Cook’s leadership."
Apple co-founder Steve Jobs, who died in 2011, was a tough act to follow. But Tim Cook seems to be doing so well at it that his eventual successor may also have big shoes to fill.
Initially seen as a mere caretaker for the iconic franchise that Jobs built before his 2011 death, Cook has forged his own distinctive legacy. He will mark his ninth anniversary as Apple’s CEO Monday -- the same day the company will split its stock for the second time during his reign.
Grooming Cook as heir apparent was “one of Steve Jobs’ greatest accomplishments that is vastly underappreciated,” said long-time Apple analyst Gene Munster, who is now managing partner of Loup Ventures.
The upcoming four-for-one stock split, a move that has no effect on share price but often spurs investor enthusiasm, is one measure of Apple’s success under Cook. The company was worth just under $400 billion when Cook the helm; it’s worth five times more than that today, and has just become the first U.S. company to boast a market value of $2 trillion. Its share performance has easily eclipsed the benchmark S&P 500, which has roughly tripled in value during the past nine years.
Cook, 59, has also struck out in into novel territory. Apple now pays a quarterly dividend, a step Jobs resisted partly because he associated shareholder payments with stodgy companies that were past their prime. Cook also used his powerful perch to become an outspoken advocate for civil rights and renewable energy, and on a personal level came out as the first openly gay CEO of a Fortune 500 company in 2014.
Apple declined to make Cook available for an interview. But it did point to 2009 comments Cook made to financial analysts when he was running the company while Jobs battled pancreatic cancer.
Apple also has stumbled a few times under Cook’s leadership.
Cook has turned the app store into the cornerstone of a services division that he set out to expand four years ago. At the time, it was growing clear that sales of the iPhone -- Apple’s biggest money maker -- were destined to slow down as innovations grew sparse and consumers kept their old devices for longer.
To help offset that trend, Cook began to emphasize recurring revenue from app commission, warranty programs and streaming subscriptions to music, video, games and news sold for the more 1.5 billion devices already running on the company’s software.
Apple’s services division now generates $50 billion in annual revenue, more than all but 65 companies in the Fortune 500. Ives estimates Apple’s services division by itself is worth about $750 billion -- about the same as Facebook currently is in its entirety.
That division could be worth even more now had Cook done something many analysts believe Apple should have done at least five years ago by dipping into a hoard of cash that at one point surpassed $260 billion to buy Netflix or a major movie studio to fuel its video streaming ambitions.
Source: AP
Also Read:
REALME X7 SERIES GRADIENT COLOR DESIGN REVEALED
MOTOROLA MOTO G9 PRICE AND SPECIFICATIONS
SMARTPHONE WINNERS OF EISA AWARDS 2020-2021
XIAOMI LAUNCHES REDMI NOTE 9 PRO MAX QUAD CAMERA SETUP | FULL SPECIFICATIONS
WHAT ARE BEST GAMING PHONES AVAILABLE IN NEPAL?
THINGS TO LOOK OUT FOR WHEN BUYING A GAMING SMARTPHONE
TOP PHONES UNDER 50000 IN NEPAL 2020 (UPDATED) | SPECS - BEST MOBILES