While Apple has never released unit sales numbers or even direct revenue from the watch, one estimate from Counterpoint Research says that Apple shipped 33.9 million watches in 2020, far outpacing Huawei, the second-place company, which only shipped 11 million smartwatches.Īpple also released AirPods in 2016. In 2015, Apple released Apple Watch, a companion for the iPhone that tracked heart rate, displayed notifications and worked with a variety compatible watch bands from fashion brands like Hermes. Jobs was known as a product-focused CEO who was involved in the development of new devices from their conception until they were on store shelves.Ĭook isn't as product focused as his predecessor, but his Apple has managed to launch several new successful products. The growth of Apple's services business from $2.95 billion in fiscal 2011 to $53.77 billion in fiscal 2020 has given investors confidence that it can find new revenue streams even as iPhone sales slow. Most recently, it's started to add privacy features to paid iCloud accounts. It's also bundling its services in a subscription called Apple One. Apple first started to call attention to the previously sleepy category in 2015 as iPhone growth slowed.Īpple has started to release new products to bolster its services that bill on a recurring basis, including Apple News+, a digital magazine bundle, and Apple TV+, a competitor to Netflix. The catch-all category includes software subscriptions like iCloud and Apple Music, App Store downloads and a portion of transactions users make in the apps they download, AppleCare warranties, money from Google to make its search engine the default on iPhone, and cuts from its Apple Pay payments service. One thing propelling Apple's market cap is the company's new focus on its services business. In September, Apple's board granted Cook shares and performance-based awards that could give him more than 1 million Apple shares through 2026, his first stock grant since he took over.Īpple is the most valuable publicly traded company, worth more than $2.4 trillion, edging out other giants such as Microsoft and Amazon. Ultimately, Apple's board is happy with Cook and his performance. Since 2011, the company has released several new products, including the Apple Watch and AirPods.Ĭook's Apple is significantly bigger than it was when he took over, and it also faces new challenges, from navigating politics around the world to the perennial question about what its next big product is. Under Cook, Apple shored up the iPhone business and bolstered it with a constellation of new products that attract new customers and entrench current customers in Apple's world. But Cook says that Jobs told him to be his own leader, and never to ask "what would Steve do?" He took that advice, building a rigorous operational juggernaut and turning Apple into the most valuable publicly traded company in the world.
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