Direct Answer
Apple Inc. was founded April 1, 1976, by Steve Jobs, Steve Wozniak, and Ronald Wayne in a Los Altos, California garage. From the Apple I personal computer to the Macintosh, iPod, iPhone, iPad, Apple Watch, and Apple Silicon, the company transformed repeatedly under two distinct leadership eras. Steve Jobs led Apple from 1997 until his death on October 5, 2011; Tim Cook has served as CEO since August 24, 2011. Apple was renamed from Apple Computer, Inc. to Apple Inc. on January 9, 2007, reflecting its expansion beyond the personal computer.
Founding and early years (1976 to 1984)
Apple Computer Company was formed by three people who met through the Homebrew Computer Club in Silicon Valley. Steve Wozniak had designed a working personal computer; Steve Jobs saw its commercial potential; Ronald Wayne drafted the original partnership agreement and drew the first Apple logo. Their complementary skills defined the company's character from day one.
- April 1, 1976: Apple Computer Company founded by Jobs, Wozniak, and Wayne in Cupertino, California. Wayne sold his 10% stake back twelve days later for $800.
- January 3, 1977: Apple Computer, Inc. incorporated. Mike Markkula invested $250,000 and became the company's third co-founder in effect, writing the original business plan.
- 1977: Apple II launched, one of the first mass-market personal computers with color graphics and an open architecture that invited third-party software development, including VisiCalc.
- December 12, 1980: Apple's IPO on NASDAQ at $22 per share, raising $101 million. At the time it was the largest IPO since Ford Motor Company in 1956.
- January 24, 1984: Macintosh introduced during Super Bowl XVIII with the "1984" commercial directed by Ridley Scott. The Mac introduced a graphical user interface and mouse to a mass consumer audience.
Jobs departure and pre-return era (1985 to 1996)
After the Macintosh launch, internal conflict over product direction led the board to strip Jobs of operational control. His departure opened a decade during which Apple pursued a licensing strategy that ultimately damaged the Mac platform, while Jobs developed new ideas at two companies that would later reshape Apple itself.
- May 1985: Jobs forced out following a boardroom conflict with CEO John Sculley. Jobs resigned from Apple in September 1985.
- 1985: Jobs founds NeXT Computer to build a workstation for higher education. He also acquires a majority stake in Pixar from Lucasfilm for $10 million.
- 1987 to 1993: Various Macintosh generations launch. Apple briefly licenses Mac OS to clone manufacturers, a move that proved financially damaging as clone sales cannibalized Apple's own hardware margins.
- 1993: Newton MessagePad introduced, an early personal digital assistant. John Sculley is replaced by Michael Spindler as CEO.
- 1996: Gil Amelio replaces Spindler as CEO as Apple posts significant losses. The Mac clone licensing program is eventually terminated by Jobs after his return.
Jobs return and renaissance (1997 to 2011)
Apple's acquisition of NeXT brought Jobs back to Cupertino. He moved quickly to simplify the product line, end the clone licensing program, and refocus engineering. The resulting period produced a sequence of category-defining products: iMac, iPod, iTunes, iPhone, App Store, iPad, and iCloud.
- December 1996: Apple acquires NeXT for $429 million, primarily for its operating system which becomes the foundation of Mac OS X. Jobs returns as an advisor.
- September 1997: Jobs named interim CEO (publicly referred to as iCEO). He immediately begins cutting unprofitable product lines.
- 1998: iMac G3 launched in translucent colors, returning Apple to profitability and signaling a new design language.
- January 2000: Jobs named permanent CEO. Mac OS X previewed publicly.
- January 2001: iTunes music software launched for Mac.
- October 23, 2001: iPod launched. Combined with the iTunes Music Store (April 2003), it redefined digital music distribution.
- January 9, 2007: Steve Jobs announces the original iPhone at Macworld. Apple Computer, Inc. is renamed Apple Inc. the same day, reflecting the company's transformation into a consumer electronics company beyond the personal computer.
- June 29, 2007: Original iPhone goes on sale in the United States.
- July 10, 2008: App Store launches with approximately 500 apps. It reaches 10 billion downloads by January 2011.
- April 3, 2010: iPad launched, creating the modern tablet category.
- October 2011: iCloud launched, replacing MobileMe.
- August 24, 2011: Jobs resigns as CEO due to declining health; Tim Cook named CEO.
- October 5, 2011: Steve Jobs dies at age 56 from pancreatic cancer.
Tim Cook era (2011 to present)
Under Tim Cook, Apple extended its product portfolio into wearables, services, spatial computing, and in-house silicon. The company's market capitalization crossed $1 trillion, $2 trillion, and $3 trillion in successive years, becoming the most valuable publicly traded company in U.S. history by each of those milestones. Services revenue grew from a small supplement to a major earnings driver.
- March 2012: Apple reinstates its dividend after a 17-year absence, initially at $2.65 per share quarterly. The company also initiates a share repurchase program.
- June 9, 2014: 7-for-1 stock split takes effect, making Apple shares more accessible to retail investors without changing the company's market capitalization.
- September 19, 2014: iPhone 6 and iPhone 6 Plus launched alongside Apple Pay, Apple's mobile payment platform.
- March 19, 2015: Apple added to the Dow Jones Industrial Average, replacing AT&T.
- April 24, 2015: Apple Watch launched, entering the wearables market.
- September 2016: First-generation AirPods introduced alongside iPhone 7, which removed the headphone jack.
- August 2, 2018: Apple becomes the first publicly traded U.S. company to reach a $1 trillion market capitalization.
- August 19, 2020: Apple reaches $2 trillion market capitalization, the first U.S. company to do so.
- August 31, 2020: 4-for-1 stock split takes effect, reducing Apple's Dow Jones Industrial Average weighting proportionally under the index's price-weighting methodology.
- November 10, 2020: M1 Apple Silicon chip announced. Apple begins transitioning Mac from Intel processors to its own ARM-based chips, completing the transition with the Mac Pro in June 2023.
- January 2023: Apple becomes the first company to reach a $3 trillion market capitalization on an intraday basis.
- February 2, 2024: Apple Vision Pro spatial computing headset launches in the United States at $3,499.
- 2024: Apple Intelligence on-device AI features announced for iPhone 15 Pro and later devices, integrating large language model capabilities directly into the operating system.
Stock split history
Apple has split its stock five times since its 1980 IPO. Each split increased the share count while reducing the per-share price, keeping the total market capitalization unchanged. Stock splits are not inherently value-creating events, but they can improve liquidity and broaden retail investor access. The 2020 split also had a mechanical effect on Apple's weighting in the price-weighted Dow Jones Industrial Average.
| Date | Split Ratio | Pre-split price (approx) |
|---|---|---|
| June 15, 1987 | 2-for-1 | ~$79 |
| June 21, 2000 | 2-for-1 | ~$112 |
| February 28, 2005 | 2-for-1 | ~$90 |
| June 9, 2014 | 7-for-1 | ~$645 |
| August 31, 2020 | 4-for-1 | ~$500 |
An investor who held one share at the 1980 IPO without any additional purchases would hold 224 shares today (2 x 2 x 2 x 7 x 4 = 224) before accounting for any fractional share treatment at the time of splits.
Frequently Asked Questions
When was Apple Inc. founded?
Apple Computer Company was founded on April 1, 1976, by Steve Jobs, Steve Wozniak, and Ronald Wayne, in Cupertino, California. The company was incorporated as Apple Computer, Inc. on January 3, 1977. It was renamed Apple Inc. on January 9, 2007, the same day Steve Jobs announced the original iPhone.
When did Steve Jobs leave and return to Apple?
Steve Jobs was pushed out of Apple in May 1985 following a boardroom conflict. He went on to found NeXT Computer and acquire Pixar. Apple acquired NeXT in December 1996, bringing Jobs back. He was named interim CEO in September 1997 and permanent CEO in January 2000, beginning Apple's most transformative period.
When did Apple join the Dow Jones Industrial Average?
Apple was added to the Dow Jones Industrial Average on March 19, 2015, replacing AT&T. Given the Dow's price-weighting methodology, Apple's high share price made it one of the highest-weighted components. Apple completed a 4-for-1 stock split on August 31, 2020, which reduced its Dow weighting proportionally.
What is Apple Silicon and why does it matter to investors?
Apple Silicon refers to the family of ARM-based chips Apple designs in-house, starting with the M1 chip announced in November 2020 and the transition away from Intel processors in Mac. Earlier A-series chips have powered iPhone and iPad since 2010. Vertical silicon integration gives Apple control over performance, efficiency, and feature differentiation, and reduces dependence on third-party chip suppliers.