How Does Apple Make Money?

Apple (NASDAQ: AAPL) was founded as Apple Computer Company in 1976 by Steve Jobs, Steve Wozniak, and Ronald Wayne to sell the Apple I personal computer kit. Just four years later, Apple held its initial public offering. The Dec. 12, 1980, IPO was a major success, selling 4.6 million shares at $22 each while instantly creating over 300 millionaires. In fact, the offering generated more capital than any IPO since Ford Motor Company in 1956.

In the late 1990s and early 2000s, Apple launched a series of influential products that helped revitalize the brand, including the iMac, the iPod, and the iTunes store. The launch of the iPhone in 2007 was a pivotal moment. It redefined the smartphone industry by seamlessly integrating a phone, an iPod, and an internet communicator, thereby creating a new platform for apps and services for an entirely new generation of consumers.

In the nearly 20 years since the launch of the iPhone, Apple has gone through numerous changes as the economic landscape, the public markets, and its industry have evolved significantly. The company has remained a leader in innovation and grown to be one of the most valuable corporations in the world.

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Source Fool.com