In Founded with borrowed money in the 1976 by two youngsters, Steve Jobs and Steve Wozniak, Apple has come a long way. The technology giant has now surpassed the global leader Exxon Mobil to win the title of worlds most valuable company.
Exxon has held the top spot since 2005. At the time the markets closed on Wednesday, the market capitalisation of Apple had touched $337 billion, which is ahead of Exxon's $331 billion.
During the late 1980s and early 1990s, it almost seemed that Apple was about to join the list of failed technology companies, but after 1997, when Steve Jobs became the CEO the company had in incredible change in fortunes. It brought out a series of iconic devices like the iPod, iPhone, iPad that became part of the popular culture. Apple has already left rivals in the electronics sector trailing in its wake. It overtook Bill Gates' Microsoft, the previous number two, last year.
Steve Jobs, under whose leadership Apple has grown so fast, had to once leave Apple because many shareholders thought he wasnt business oriented. Perhaps that is true. But it is also true that Jobs understands product and those consumers want better than perhaps any other CEO in the world.
Apple, under Steve Jobs, has become a company that consistently updates and improves its product line faster than perhaps any company we've seen before. Case in point is the fact that while iPhone 4 continues to be a big draw with customers, Apple is gearing to launch its iPhone 5.
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