The stars aligned for Apple on Thursday as the company passed the trillion-dollar market cap threshold.
Apple co-founder Steve Jobs built a computer based on a very intuitive, easy-to-use system. As a result, Apple became the go-to choice in most classrooms that had computers, particularly in the 1990s.
This tactic developed deep, almost cult-like loyalty that to this day runs deep in today’s kids. Jobs pushed to be countercultural to corporate America (and Microsoft in particular) — and yet Apple has become the most valuable company in America.
Apple’s big leap into mass culture came from music with the iPod, which essentially allowed anyone to fit 10 jukeboxes into a player the size of a lighter.
Today, iTunes and Apple Music are mere features on all Apple devices, including the company’s major moneymaker, the iPhone.
Surprisingly, while Apple has been the most fantastic company at developing iterations of its innovations, it has not been particularly innovative for a while in creating new products. And so the world’s most valuable company trades at a merely ordinary market multiple.