Apple's Cook calls $1 trillion value 'milestone,' says result of corporate values

Posted:
in General Discussion edited August 2018
Apple CEO Tim Cook on Thursday commented on the company's $1 trillion market capitalization, saying that while it is a milestone, there are more important measures of success.

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In a memo to employees seen by Reuters, Cook was typically humble in acknowledging Apple's achievement, noting the high-water mark is a "significant milestone" of which there is "much to be proud." That said, the figure should not be the iPhone maker's focus.

"Financial returns are simply the result of Apple's innovation, putting our products and customers first, and always staying true to our values," Cook said.

The notion is not new. Cook commonly credits Apple's success to its core value of placing products and customers first. More recently, the executive has linked the company's social code with consumer privacy, saying it is Apple's moral compass that restricts the company from turning users into products.

Apple became the first publicly traded U.S. firm to breach the mythical $1 trillion threshold earlier today when its stock price hit $207.05. Previous estimates put the magic number at $203.45, but Apple revealed an adjusted share count of 4,829,926,000 in quarterly filings on Wednesday, moving the target to just above $207.

Apple retained its standing in after-hours trading, with prices hovering at $207.09 as of this writing.

Cook went on to reference the legacy and memory of Apple co-founder Steve Jobs, whose leadership was pivotal bringing the company back from the brink of bankruptcy. Jobs' crowning achievement, the iPhone, debuted in 2007 and continues to be the company's main source of revenue.

"Steve 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," Cook wrote. "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."
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Comments

  • Reply 1 of 34
    SpamSandwichSpamSandwich Posts: 30,558member
    Congrats, Apple. And may many more years of innovation be ahead.

    (Yes, I know they probably aren't reading this.)
    racerhomie3Aviesheklamboaudi4watto_cobrajony0
  • Reply 2 of 34
    On the day that Apple became the first trillion dollar company on the planet, it’s worth remembering this quote from Jobs: “Being the richest man in the cemetery doesn’t matter to me. Going to bed at night saying ‘we’ve done something wonderful’ – that’s what matters to me.”

    That corporate value is probably associated with what made them the wealthiest company on the planet. 
    edited August 2018 croffordpscooter63racerhomie3Anilu_777AvieshekRonnnieOdewmelkrupplamboaudi4netmage
  • Reply 3 of 34
    Like the article stated, Tim Cook was as humble as ever. Kudos to Apple for the epic landmark. And kudos to Tim Cook for recognising the fact that there are more important things to keep doing.
    racerhomie3Anilu_777Aviesheklamboaudi4ronnJWSCpatchythepiratewatto_cobrajony0
  • Reply 4 of 34
    Rayz2016Rayz2016 Posts: 4,555member
    This is PRECISELY how I would expect the world’s best tech CEO to react. 

    The 1 trillion thing isn’t a target (as the bloggers would have you believe); it’s a happy side effect. 

    The only problem now of course is that we’ll have to put up with every Apple whine being prefixed with some derivative of “Why can’t a trillion dollar company …”

    ”Why can’t a trillion dollar company give me a massive 17-inch screen laptop with two parallel ports, four SCSI ports, a built-in vegetable juicer and keyboard with solid gold key switches for $699 including tax?? I mean they’re a trillion dollar company for Christ’s sake!”

    What the whiners will forget, of course, is that this incredibly insignificant side effect came about because Apple focuses on its core customer base as it evolves, not on a handful of vocal forum dwellers who can’t. 



    edited August 2018 Anilu_777mjtomlinpscooter63techprod1gyLoneStar88ronnwatto_cobrajony0
  • Reply 5 of 34
    Apple - now more Doomed than ever before!
    anantksundaramronnwatto_cobra
  • Reply 6 of 34
    Rayz2016Rayz2016 Posts: 4,555member
    Favourite trillion dollar meme making the rounds so far:

    ”Of course they’re a trillion company. They’re making money off the backs of slaves working in Foxconn factories!!”

    Typical reply: 

    “Then why aren’t the likes of Microsoft, Dell and HP also trillion dollar companies, since all their kit is made in the same factories, and without the added expense of contractor oversight.”
    radarthekatAnilu_777Avieshekmwhitepscooter63anantksundaramronnnetmagewatto_cobrajony0
  • Reply 7 of 34
    Rayz2016Rayz2016 Posts: 4,555member

    Apple - now more Doomed than ever before!
    I just want one of these analysts to gaze into the burning entrails of a freshly butchered chicken and tell me when the fall of Apple will actually happen. I don’t need a precise date; just give me the year. 
    radarthekatpatchythepiratewatto_cobra
  • Reply 8 of 34
    Congrats Apple! Customer service, respect for our privacy and oh yes, great products are why I stay an Apple customer. 
    Avieshek2old4funwatto_cobra
  • Reply 9 of 34
    fallenjtfallenjt Posts: 3,959member
    Just enjoy riding on AAPL so much!
    Avieshekwatto_cobra
  • Reply 10 of 34
    asciiascii Posts: 5,941member
    Anilu_777 said:
    Congrats Apple! Customer service, respect for our privacy and oh yes, great products are why I stay an Apple customer. 
    Amen.
    watto_cobra
  • Reply 11 of 34
    irelandireland Posts: 17,521member
    On the day that Apple became the first trillion dollar company on the planet, it’s worth remembering this quote from Jobs: “Being the richest man in the cemetery doesn’t matter to me. Going to bed at night saying ‘we’ve done something wonderful’ – that’s what matters to me.”

    That corporate value is probably associated with what made them the wealthiest company on the planet. 
    The first public TD company, but not the first trillion dollar company. 
    bloggerblog
  • Reply 12 of 34
    dewmedewme Posts: 1,894member
    Tim Cook is the perfect archetype for an Authentic Leader.

    https://www.huffingtonpost.com/bill-george/what-does-authentic-leade_b_8581814.html

    Apple could not be in better hands at this point in their continuing growth and evolution. 
    pscooter63ronnwatto_cobra
  • Reply 13 of 34
    ireland said:
    On the day that Apple became the first trillion dollar company on the planet, it’s worth remembering this quote from Jobs: “Being the richest man in the cemetery doesn’t matter to me. Going to bed at night saying ‘we’ve done something wonderful’ – that’s what matters to me.”

    That corporate value is probably associated with what made them the wealthiest company on the planet. 
    The first public TD company, but not the first trillion dollar company. 
    Thanks. We beat this to death yesterday so no need to revisit. 

    I’ll stand by by what I said.
    ericthehalfbeeronnnetmagepscooter63SpamSandwichwatto_cobra
  • Reply 14 of 34

    Rayz2016 said:
    Favourite trillion dollar meme making the rounds so far:

    ”Of course they’re a trillion company. They’re making money off the backs of slaves working in Foxconn factories!!”

    Typical reply: 

    “Then why aren’t the likes of Microsoft, Dell and HP also trillion dollar companies, since all their kit is made in the same factories, and without the added expense of contractor oversight.
    Believe it or not, this was the meme in The Guardian’s annoying little piece on AAPL reaching a trillion yesterday. 
    watto_cobra
  • Reply 15 of 34
    slurpyslurpy Posts: 5,085member
    The little kids will continue screeching for Tim's head, as he proves all the haters wrong, again, and again, and again, culminating in yet another ridiculously impressive milestone. I firmly believe no one else at Apple or outside of Apple could have sailed the ship as well as he has after Jobs. 
    pscooter63patchythepiratewatto_cobra
  • Reply 16 of 34
    lkrupplkrupp Posts: 6,608member
    ireland said:
    On the day that Apple became the first trillion dollar company on the planet, it’s worth remembering this quote from Jobs: “Being the richest man in the cemetery doesn’t matter to me. Going to bed at night saying ‘we’ve done something wonderful’ – that’s what matters to me.”

    That corporate value is probably associated with what made them the wealthiest company on the planet. 
    The first public TD company, but not the first trillion dollar company. 
    Anything to throw water on the party, right? Gotta get those “yeah, but” digs in, right? But then you may be like the slave riding in the chariot with the conquering Roman general holding the laurel wreath over his head and whispering in his ear, “Remember, thou art mortal.”


    ericthehalfbeeronnwatto_cobra
  • Reply 17 of 34
    lkrupplkrupp Posts: 6,608member

    Rayz2016 said:
    Favourite trillion dollar meme making the rounds so far:

    ”Of course they’re a trillion company. They’re making money off the backs of slaves working in Foxconn factories!!”

    Typical reply: 

    “Then why aren’t the likes of Microsoft, Dell and HP also trillion dollar companies, since all their kit is made in the same factories, and without the added expense of contractor oversight.
    Believe it or not, this was the meme in The Guardian’s annoying little piece on AAPL reaching a trillion yesterday. 
    If you can stand the stench take a look at MacRumors comment section. The rage is in full bloom.
    watto_cobra
  • Reply 18 of 34
    cincyteecincytee Posts: 256member
    Rayz2016 said:
    ”Why can’t a trillion dollar company give me a massive 17-inch screen laptop with two parallel ports, four SCSI ports, a built-in vegetable juicer and keyboard with solid gold key switches for $699 including tax??”
    The juicer is a Thunderbolt-powered add-on....
    watto_cobra
  • Reply 19 of 34
    lkrupplkrupp Posts: 6,608member
    The hate and rage is in full bloom across the Internet this morning. Every time Apple succeeds at something some people’s heads explode. But what happened yesterday has drawn and quartered them like the last scene in Braveheart. People have come unglued with spittle and venom drooling down their chins. It’s like a horror movie when the slasher surprises his victims. I have been visiting news sites, tech blogs, financial sites just to see what’s going on and it’s pretty surreal. I new there was hate and bile out there for Apple but this milestone has really laid it bare. There’s a 65 and growing post thread diatribe going on at C|net that is really amazing.
    watto_cobra
  • Reply 20 of 34
    lkrupp said:
     There’s a 65 and growing post thread diatribe going on at C|net that is really amazing.
    Actually, I must admit I made plenty of popcorn yesterday, to fully partake in the enjoyment of the schadefreude from all that diatribe!
    watto_cobra
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