Saturday, December 2, 2023

Apple Bags The Spot Of The Most Valuable Firm In The World At $629.4 Billion

Apple's Steve Jobs died a year ago on 5.10.1105th Oct. completes one year of the demise of Steve Jobs, co-founder of Apple, and the firm has still managed to bag the spot for being the most valuable firm in the world, holding a market capitalization of $629.4 billion.

Lot of criticism for its new Maps app, shortage of iPhone 5 to meet the demand, and stocks swinging between $650-$700- this is all Apple has seen the last month under the leaddership of Tim Cook-its current CEO.

The tech market is growing at an unbelievable fast pace. The Silicon based company now faces tough competition from Google, Samsung, Nokia, and Windows Phone 8. So can it really afford a goof-up? Previously with Jobs, there were never any complaints like this time with its Mapping software. Do you feel the Cupertino Calif.-based company will lose its magic soon?

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With so much of competition and increasing expectations, there are many analysts who feel that Tim Cooks won’t be able to take up the pressure as well as Steve Jobs did. Considered a perfectionist, Jobs passed away on 5th Oct. 2011 from pancreatic cancer.

Many observers have also pointed that Apple’s launch events ever since have been a little dreary and that the firm needs to work on “dramatic improvements” in future to popularize its products. There’s nothing spectacular about Apple’s launch events now. It lacks the ‘wow’ factor.

As per Kevin Xhan, Singapore-based iOS app developer, he says “Apple has lost [Steve Jobs’s] showmanship. The dude was a great storyteller, and his reality distortion field and ‘one more thing’ made his product launches really special. [Tim Cook’s] launches don’t even come close.”

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Many analysts feel that the sale of most of Apple products, except for iPods, has been strong over the last three quarters since Jobs’ death.

Apple’s strong bet has always been on iPhones, which accounts for 53 percent of the firm’s revenue and 70 percent of its profits.

However, considering the fact that Apple’s shares climbed 79 percent since Cook took over as the CEO clearly states that the firm is doing great under his leadership. Following the criticism for flawed maps app, Cook apologized to users and promised to fix the solution soon.

However, considering reports of Jobs involvement in iPhone 5 design, many analysts believe this reason to be behind the success of the iPhone 5 device in the market. So will the future sales be affected, while the firm now needs to sail without the perfectionist Steve?

Apple will have to come up with innovative products frequently. If it wants to maintain its foothold in the market, the firm will have to evolve design approaches and technologies, adopt rapid technological and product advancements to be the leader as it has always been.

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