It was a good day for Apple shareholders as the company won the race to become the first technology company valued at over one trillion dollars.
And it was a great day for Tim Cook the Apple CEO. This will ensure his performance bonus for this year and award him 560,000 shares in Apple for about a $125,000,000 in bonus cash on top of his salary for this year. Not a bad bonus… Apparently, he has already committed $5 million to an undisclosed charity.
This is another sign of how the tech industry is living in another world… The cost of the Apple X iPhone at over $1000. per unit is a premium that Apple fans don’t seem to mind paying, the ability for Apple to gain this valuation shows how the music business has been very good for their profits. They used to be a hardware company, but now they are not producing anywhere near the number of computers which used to be the core of their business.
The new core is, of course, is the mobile phone (the new computer in everyone’s pocket) which is also a flashlight, magnifying glass, camera, maps, music machine, timepiece and you get it… Just about everything with life today is going into the phone!
Not bad for two guys who in about 1970 started tinkering around in a garage and piecing together tech innovations that others had in their labs but had not deployed. Just about lost their way a few times on the journey, but in 2007 the iTunes and the iPhone collided in a staged presentation that helped everyone see the future. Now just over 10 years later it turns out that was enough to change the world forever.
Now the big trillion dollar question is… who will be next?