- Steve Jobs is the man-
Recent uncertainty in the stock market yesterday helped Apple to overtake Exxon Mobil to become the world’s most valuable company. However, the innovative work of Steve Jobs should not go unnoticed.
City workers, journalists and consumers are questioning how Apple is managing to expand at a time when other companies and even sovereign states are struggling to stay afloat. Could the simple answer be the work and vision of Apple
CEO, Steve Jobs…?
based tech company is enjoying rapid expansion, with every results announcement continuing to boast record growth upon record growth. Furthermore, analysts do not expect this growth curve to plateau, as most still hold buy recommendations on Apple, despite the prospect of the deepening slowdown in the world economy. In fact the only time Apple’s share price did begin to level-out was in January 2011, when reports in the press stated Jobs had been taken ill again; arguably a marked testament to the markets’ faith in their California CEO.
The argument that technology will continue to develop and demand will never dwindle is true, but Apple has to be acknowledged for its innovative products – the recognition of which should go to Steve Jobs. When Jobs was reinstated at Apple in 1997, he inherited a company worth $2billion. Apple was trailing behind Dell and the world of electronics was wholly dominated by Microsoft. Today the company is worth $341.5bn.
As the Internet became more widely accessible, Job’s first priority was to rebrand Apple. The company reacted and introduced the pretty coloured iMac computers. Over the years, this evolution has continued, with the iMac leading to the iPod, then to the iPhone and most recently, to the iPad. In just 14 years Steve Jobs has changed consumer computing, the entire music industry, mobile communications and brought tablet devices to the market (a concept one might have thought belonged in an H G Wells novel not too long ago).
The upcoming autumn launch of iCloud is yet another example of the company and Steve Jobs’s innovation. Jobs spotted that the proliferation of hand held wireless devices has led to businessmen and consumers being ‘online’ all the time, and as a result, there is increased demand to access and backup data through cloud based services. iCloud will actually overservice these consumer needs; further differentiating Apple from competitors such as Microsoft and Dell, and in turn, increasingly encroaching upon Google’s territory.
As Dominc Rushe in the Guardian comments: “One of Jobs’s early goals was to surpass Dell”. Apple have done just that. In 2006 their market capitalisation was $72.13bn vs Dell’s $71.97, and by May 2010 Apple’s market cap was $3bn greater than Microsoft’s. Now the technology giant’s market cap is rivalling oil companies. 
The soon to be launched iCloud service and the eagerly anticipated iPhone 5 will continue Apple’s dominance of consumer electronics under Jobs, with stores worldwide having flocks of dedicated followers queuing up overnight eager to get their hands on the latest Apple product.
When Steve Jobs decides to retire, the board at Apple has some task on their hands to replace him. It will not be easy.
Follow us on Twitter @AbchurchComms