Introduction In today’s society, devices such as the iPad, iPhone, and iPod have become standard household gadgets, and the company behind these products, Apple Incorporated (Inc.) has lead the way in computer innovation. Since Apple released its initial public offering (IPO) in 1980, the company has thrived in all aspects of its business and breaking records on the stock market. This paper will discuss Apple’s company background, analyze the implementation and evaluation of its IPO, and conclude with the reason behind Apple was chosen.
Company Background Before becoming the largest technological company in the world, Apple Inc.’s humble beginning started in April 1976 as a small private computer company owned by three men, Steve Jobs, Ronald Wayne, and Steve Wozinak. The company originally focused on creating personal computers for the first 25 years of its existence until 2001 when Apple Inc. introduced the iMac followed by the iPod, iPhone, and iPad. Over the last decade, Apple started purchasing various software corporations, such as the music company Lala, the personal assistant Siri, and most recently, Anobit Technologies, to integrate their products into Apple’s new computer innovations. Today, Apple Inc.’s main business and operational activities continue to focus on producing and marketing computer electronics, computer software, and personal computers through 357 retail stores in ten countries and its online store (Anonymous, n.d.).
Much of Apple’s success revolves around the company’s record breaking net profit and revenue, as well as its massive foundation of loyal users. In August 2011, Apple Inc. surpassed oil-giant Exxon Mobil Corporation as the most valuable company in the United States earning a current market cap worth of approximately $465 billion with shares priced at just over $500.00 a share (Associated Press, 2012). Apple,