Tim Cook, Apple’s CEO, has insisted that financial milestones shouldn’t be the main assessment of the company’s success. He believes that the quality of Apple products and customer satisfaction are more important measures.
When the stock market closed on August 2nd, Apple’s share price was over $207, meaning it had become the first global company to be valued at $1 trillion.
After the significant market cap was reached, Cook sent a memo to all of the 120,000 plus people who are employed by the tech giant.
According to Reuters, Cook said in the memo: “Financial returns are simply the result of Apple’s innovation, putting our products and customers first, and always staying true to our values.”
However, he did say that the achievement was something to be proud of, and thanked everyone for their hard work in making it possible.
Cook continued on to reference Apple’s co-founder, Steve Jobs.
“Steve [Jobs] founded Apple on the belief that the power of human creativity can solve even the biggest challenges – and that the people who are crazy enough to think they can change the world are the ones who do.
“Just as Steve always did in moments like this, we should all look forward to Apple’s bright future and the great work we’ll do together.”
Apple was competing with Microsoft, Amazon and Alphabet to be the first company to pass $1 trillion.
A better than expected financial return in Q2 this year, largely down to the increased average price of an iPhone, caused Apple’s market value accelerated over the line.
Read more here.