Tim Cook Says Apple's $1 Trillion Value is a 'Significant Milestone' But 'Not the Most Important Measure of Success' in Employee Memo

[MacRumors]

Apple today reached a major milestone and became the first publicly listed U.S. company to reach a $1 trillion market capitalization. Following the news, Apple CEO Tim Cook, who did not comment publicly on the occasion, sent out a memo to employees, which was shared by Buzzfeed.

In the memo, Cook said that while the valuation is a "significant milestone" that the company should be proud of, it's not the most important measure of Apple's success. He instead thanked employees and said that it's their hard work and refusal to settle for less that makes Apple great.

Team,

Today Apple passed a significant milestone. At our closing share price of $207.39, the stock market now values Apple at more than $1 trillion. While we have much to be proud of in this achievement, it's not the most important measure of our success. Financial returns are simply the result of Apple's innovation, putting our products and customers first, and always staying true to our values.

It's you, our team, that makes Apple great and our success is due to your hard work, dedication and passion. I am deeply humbled by what you do, and it's the privilege of a lifetime to work alongside you. I want to thank you from the bottom of my heart for all the late hours and extra trips, all the times you refuse to settle for anything less than excellence in our work together.

Let's take this moment to thank our customers, our suppliers and business partners, the Apple developer community, our coworkers and all those who came before us at this remarkable company.

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. In today's world, our mission is more important than ever. Our products not only create moments of surprise and delight, they empower people all around the globe to enrich their lives and the lives of others.

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.

Tim

With a closing stock price of $207.39 following a record breaking Q3 earnings report on Tuesday and a total of 4,829,926,000 outstanding shares as of July 20, Apple successfully beat Amazon, Microsoft, and Google parent company Alphabet to a $1 trillion valuation.

Apple is set to have yet another strong quarter with the 2018 iPhones, new iPad Pros, new Apple Watch models, and new Macs on the horizon.

Article Link: Tim Cook Says Apple's $1 Trillion Value is a 'Significant Milestone' But 'Not the Most Important Measure of Success' in Employee Memo

 

[levitynyc]

A better measure of success would be to hit those stock numbers and yet, sell an affordable MacBook.

 

[fate0311]

I really can’t stand this man.

 

[code-m]

Press time for the bean counter, kudos to you. Now update that aging Mac hardware, pathetic from a 1 Trillion dollar valuation company.

 

[Morod]

Selling affordable products with current hardware would be even better.

 

[omihek]

God I can’t stand this guy. He is constantly drinking his own koolaid. He doesn’t do a damn thing either, he is nothing but a questionable businessman.

The engineers and staff on the floor are the ones who put that stock where it is today, whether it’s agreed upon or not with the value it has.

Steve Jobs is the last man to wear a hat that actually felt like he was making changes happen just like the guys on the floor.

Tim your a jokester and so am I for continuing to purchase your products. However I continue to do it as I remember the roots of the company.

Who would you like as the CEO of Apple? Someone like John Sculley perhaps? Like it or not, Tim has continued the success that Steve Jobs was known for creating within Apple. I'm not sure that just anyone could pull that off. And wasn't it Steve himself that chose Tim as his successor? If everyone on this forum really idolizes Steve as much as they claim to, maybe you should respect his last act as CEO, trusting Tim to take the helm.

 

[iLilana]

does it mean you can lower the price of your hardware?

 

[lederermc]

A better measure of success would be to hit those stock numbers and yet, sell an affordable MacBook.

Obviously they are selling affordable MacBooks... I just bought one. (my 3rd)

 

[Denmac1]

Bean counter does not equal innovator. I'm sure this is great for shareholders, but as a long time Apple user, I am disappointed that TC has failed to look at what, over the SJ years, has brought the company to this point.
1. Music players, now gone, contributed to the growth & use of Macs
2. Consistent upgrade to OS (quality) and hardware ( tired of the Intel excuses..I believe Steve pushed the envelope)
3. Sorry, Tim, customer & products have not come first. I like my watch...What have you done lately?
4. What good is that much money in the bank if you are not using it.

 

[Haswell]

Great, now they will have even less incentives to update their Mac product line.

 

[Radon87000]

Yes it's not a measure of a product quality. Their software has been going downhill for quite some time now. Ios 11 being an excellent example. Then the consistent YoY iOS slowdown.

 

[CreeptoLoser]

Tim Cook is the best CEO in tech.

Look at who the rest have. Thiel is a delusional vampire. Musk is always three seconds away from a Twitter meltdown. Zuck, Jack and other social media CEOs have been data abusing Kremlin assets or creepto scam shills.

It's as if there is a trend towards dystopian sociopaths in tech and only Apple have maintained sane leadership, probably because their success has been building for many years while the others above have tried to get rich fast at the expense of security and society.

 

[fullauto]

Well done Apple. Please for the love of God almighty, give us a modular, expandable and affordable Mac Pro and Mac Mini. There’s no reason why they can’t be the same thing. Increase your user base.

 

[bladerunner2000]

Selling affordable products with current hardware would be even better.

Don't do him like that, lol.

I don't care for the 1 trillion dollar mark. What's become of Apple compared to what it was 6+ years ago is a joke.

 

[Appleaker]

Great, now they will have even less incentives to update their Mac product line.

We will see significant updates to the Mac lineup this year, but that really doesn’t excuse the abandonment of the lineup and pricing of some Macs under Cook. If anything, being a trillion dollar company gives them more of an incentive since that label makes a lack of regular updates seem even more ridiculous and unacceptable.

 

[yadmonkey]

Tim Cook has done a damn good job by most metrics. There were so many software bugs - even catastrophic ones - and hardware missteps under Steve. I think the people who rail on Cook largely weren't around for those years or are remembering them too kindly. There are many legitimate gripes about Apple these days and there were during Jobs' prime years too.

And all of the people saying Apple should aim for market share and more affordable products, you have the wrong Steve - that is Ballmer talk.

 

[amaze1499]

“Here's to the crazy ones. The misfits. The rebels. The troublemakers. The round pegs in the square holes. The ones who see things differently. They're not fond of rules. And they have no respect for the status quo. You can quote them, disagree with them, glorify or vilify them. About the only thing you can't do is ignore them. Because they change things. They push the human race forward. And while some may see them as the crazy ones, we see genius. Because the people who are crazy enough to think they can change the world, are the ones who do.” SJ

 

[Appleaker]

Well done Apple. Please for the love of God almighty, give us a modular, expandable and affordable Mac Pro and Mac Mini. There’s no reason why they can’t be the same thing. Increase your user base.

They won’t be the same thing, an I wouldn’t be too optimistic on the pricing, even with other products becoming more affordable this year.

 

[efktd]

okay. new 10" iPad please

 

[macmediausa]

none of our opinions really matter in the grand scheme of things... Whatever Tim and Apple do are obviously the OVERALL correct way of handling things even though we may not agree on their methods or outcomes. Otherwise, they wouldn’t be the most valuable company and be the envy of most other companies. Besides... TC has made a lot of people a lot of money including myself over the years - irrespective of some decisions that I THOUGHT was bad.

 

[Feenician]

A better measure of success would be to hit those stock numbers and yet, sell an affordable MacBook.

Selling affordable products with current hardware would be even better.

They’re affordable to people who can afford them. That’s what affordable means.

https://www.dictionary.com/browse/affordable

 

[currentinterest]

Tim Cook is perhaps the best CEO in tech. Apple is a huge company that takes real talent to get it where it is today. The story is always the same, innovative products, iPhone X, Apple Watch, AirPods, HomePods that are introduced to a chorous of critics and predictions of failure, followed by huge success and profitability, all while securing even greater commitment to the ecosystem and services. Brilliant products, brilliant strategy, brilliant CEO.​

 

[Solomani]

Customer Satisfaction is the greatest measure of your success, Tim.

The 1 trillion dollar value is just superficial.

 

[palmerc2]

Apple today reached a major milestone and became the first publicly listed U.S. company to reach a $1 trillion market capitalization.

As a cool side story, the first trillion dollar company is from hundreds of years ago (albeit non U.S. based)

The Dutch East India Company would be the first trillion dollar company, by a long shot. In today’s value it was worth $7.4 Trillion at its peak.

https://www.sovereignman.com/trends...n-would-be-worth-over-7-trillion-today-15654/

If someone’s thinking “but they failed”, I’d wager Apple won’t be around in a couple hundred years either.

Side note: this website Sovereign Man is absolutely brilliant for financial education and insight, a topic severely lacking today (probably on purpose)

 

[code-m]

As a cool side story, the first trillion dollar company is from hundreds of years ago (albeit non U.S. based)

The Dutch East India Company would be the first trillion dollar company, by a long shot. In today’s value it was worth $7.4 Trillion at its peak.

https://www.sovereignman.com/trends...n-would-be-worth-over-7-trillion-today-15654/

If someone’s thinking “but they failed”, I’d wager Apple won’t be around in a couple hundred years either.

Side note: this website Sovereign Man is absolutely brilliant for financial education and insight, a topic severely lacking today (probably on purpose)

It should read U.S. tech company.