Tim Cook, 10 years ahead Apple after the resignation of Steve Jobs

Tim Cook 10 years ahead of Apple

Tim Cook has completed ten years as the head of Apple on Tuesday, after assuming the reins of the multinational on August 24, 2011, due to the resignation for health reasons of the co-founder and until then CEO of the company, Steve Jobs, who he would die on October 5 of that same year.

Along with his resignation, Jobs had also communicated then to the Apple board of directors his “strong recommendation” to the appointment of Tim Cook as his successor to the head of the company, in which he had served between 2005 and 2011 as director of operations. including a brief replacement for Jobs as CEO in 2009.

Although Apple shares had reacted with sharp declines ten years ago to the announcement of the departure of Jobs and the appointment of Cook, which had subsequently been restrained by the board of the company, the evolution of the multinational in the markets under the leadership of Jobs’ dolphin has beaten all expectations, becoming the most valuable company in the world.

In this way, Apple surpassed in August 2018 the barrier of one trillion dollars, which would translate into some 851,380 million euros, in market capitalization, a milestone that the multinational made fall into oblivion with astonishing ease just a year ago, when August 19, 2020, and despite the pandemic, it became the second global company and the first American to exceed 2 trillion dollars, that is, about 1.7 trillion euros, of capitalization.

Currently, Apple’s market capitalization has been around 2.5 trillion dollars, which is valued at 2.12 trillion euros, which has implied a 600% increase in the value of the company, whose shares are They trade close to $150, after undertaking a ‘split’ that had divided their value by four in September 2020, compared to the $11.54 they were worth when Cook’s appointment occurred ten years ago.

The Cupertino company had debuted on the stock market on December 12, 1980, at a price of $22 per share and has since made five splits. In January 2007, after announcing the launch of the iPhone in June of that same year, Apple’s shares were trading below $9.

Cook, who had been received with skepticism by the market, who doubted his ability to emulate the genius of Jobs at the helm of Apple, has seen during these years his commitment to services and other accessories, apart from the iPhone and the historical iMacs, fattened the accounts of the companies year after year.

In this way, a decade after assuming the management of the company, the executive has managed to expand the business ecosystem beyond the ‘hardware’, including the purchase of more than a hundred companies, among which the acquisition of Beats in 2014 for 3,000 million dollars, 2,554 million euros, the largest in the history of the company.

The success under the direction of Tim Cook has been reflected in his latest published accounts, when the American technology giant reported that between October 2020 and June 2021, the first nine months of its fiscal year, it had achieved a net profit of 74,129 million dollars, around 62,773 million euros, 65.7% more than in the same period of the previous year, while turnover increased by 34.6%, to 282,457 million dollars, this amount reached 239,187 million euros.

iPhone sales for nine months have reported to Apple 153,105 million dollars, about 129,650 million euros, 37.5% more, while Mac sales have risen 32.8%, reaching 22,027 million euros. euros) and revenues from iPad sales have grown by 39.5%, to 19,993 million euros.

On the other hand, sales of wearables and accessories have totaled 29,582 million dollars, or 25,050 million euros, 30% more than a year before, while Apple’s service income has advanced 27.8%, up to 50,148 million dollars, about 42,466 million euros.

Personally, Cook has championed various social causes and in 2014 became the first CEO of a Fortune 500 company to publicly announce his homosexuality.

Apple is about changing the world,” Cook declared in a speech at a ‘Fortune’ event in 2018. “A few years ago it became clear to me that you don’t do that by keeping quiet. about the things that matter,” he added.