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By the numbers: In the third fiscal quarter of 2011, when Cook took over the late Steve Jobs, Apple reported $28.6B in revenue. Compare that to the most recent quarter, where sales were $81.4B, nearly three times as much. The iPhone-maker's shares have also returned more than 1,100% on his watch, while Cook has found new revenue streams, such as Apple's services business, which went from $3B in sales during fiscal 2011 to $53.8B in fiscal 2020. Apple is happy with Cook and his performance, and last September, the board granted another award that could give him more than 1M Apple shares through 2026.
Over the years, Cook has bolstered Apple's iPhone business and even released several new products, including the Apple Watch and AirPods. He has also made some major acquisitions like Beats and Intel's cellular-modem unit, as well as doubling down on the company's services business, such as subscriptions to iCloud, Apple Music, Apple News+ and Apple TV+. The catch-all category attracts new customers and entrenches current users in the Apple ecosystem.
Outlook: Cook has turned Apple into the most valuable publicly traded company in the world, continuing in the innovative ways of co-founder and tech leader Steve Jobs. While the latter's spirit still guides Cook, one of the recipes for his success may be building his own brand. "I really want [Jobs'] legacy to be with Apple 10 years from now, a hundred years from now, a thousand years from now," Cook said back in 2016. "Not for Apple to be constrained by it. We're not thinking, 'What would Steve do?' We're not thinking that. But we're very much married to his vision of making the best products."
In Europe, at midday, London -0.1%. Paris -0.1%. Frankfurt flat.
Futures at 6:20, Dow +0.3%. S&P +0.3%. Nasdaq +0.4%. Crude +1.6% at $68.51. Gold +0.1% at $1796.90. Bitcoin +1% at $47418.
Ten-year Treasury Yield unchanged at 1.34%
Peloton (NASDAQ:PTON) spins lower after rare profit miss, predicts slowing growth.
About-face on China: Cathie Wood scoops up shares of JD.com and Tencent.
Axel Springer to buy Politico in reported billion-dollar deal.
Ford (F) cuts F-150 pickup production because of chip shortage.
Fading rally? Bitcoin (BTC-USD) retreats further from $50K.
Alphabet's (NASDAQ:GOOGL) Wing surpassing 100K customer drone deliveries.
Microsoft (NASDAQ:MSFT) hires top executive from cloud rival Amazon (NASDAQ:AMZN).
Meme stock watch: Support.com (NASDAQ:SPRT) up 100% over two sessions.
Big banks shift focus from software sector to momentum-heavy media.


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