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Tim Cook defeats risk of Apple crumble

Mark White by Mark White
August 25, 2021
in Supply Chain
0


Apple CEO Tim Cook stands inside the new Apple Store on Broadway in downtown Los Angeles, June 24, 2021. REUTERS/Lucy Nicholson

NEW YORK, Aug 24 (Reuters Breakingviews) – On Aug. 24, 2011, Steve Jobs conceded he could no longer run Apple (AAPL.O). He handed over the top job to Tim Cook, the operating supremo who had stood in during Jobs’ illness. The company was then worth $350 billion. Some feared Cook could never reproduce the innovation inspired by Jobs, notably the world-changing iPhone, first launched in 2007.

It turned out Cook could succeed in other ways. Mostly incremental product launches and supply-chain improvements brought lasting growth, turning Jobs’ vision into the first $1 trillion company. Apple is now worth $2.5 trillion, and that’s after returning around $550 billion to investors through share repurchases and dividends since 2012.

In the past decade, an Apple shareholder has made a total return, including dividends, of some 1,200%: better than Google, now called Alphabet (GOOGL.O), and more than Facebook (FB.O) shares have delivered since the company’s 2012 listing. Apple has benefited less than some in the last year or two . Still, it remains the most valuable corporation on Earth. For shareholders, Cook’s effort to fill the shoes of a legend must be one of the most lucrative of all time. (By Richard Beales)

On Twitter http://twitter.com/breakingviews

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Editing by Rob Cox and Marjorie Backman

Reuters Breakingviews is the world’s leading source of agenda-setting financial insight. As the Reuters brand for financial commentary, we dissect the big business and economic stories as they break around the world every day. A global team of about 30 correspondents in New York, London, Hong Kong and other major cities provides expert analysis in real time.

Sign up for a free trial of our full service at https://www.breakingviews.com/trial and follow us on Twitter @Breakingviews and at www.breakingviews.com. All opinions expressed are those of the authors.





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Mark White

Mark White

Mark White is the editor of the ProcurementNation, a Media Outlet covering supply chain and logistics issues. He joined The New York Times in 2007 as an commodities reporter, and most recently served as foreign-exchange editor in New York.

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