Later Innovations
Apple introduced such revolutionary products as the Macbook Air, iPod and iPhone, all of which have dictated the evolution of modern technology. Almost immediately after Apple releases a new product, competitors scramble to produce comparable technologies. Apple's quarterly reports improved significantly in 2007: Stocks were worth $199.99 a share—a record-breaking number at that time—and the company boasted a staggering $1.58 billion profit, an $18 billion surplus in the bank and zero debt.
In 2008, iTunes became the second-biggest music retailer in America—second only to Wal-Mart. Half of Apple's current revenue comes from iTunes and iPod sales, with 200 million iPods sold and 6 billion songs downloaded. For these reasons, Apple has been ranked No. 1 on Fortune magazine's list of "America's Most Admired Companies," as well as No. 1 among Fortune 500 companies for returns to shareholders.
Later Innovations
Apple introduced such revolutionary products as the Macbook Air, iPod and iPhone, all of which have dictated the evolution of modern technology. Almost immediately after Apple releases a new product, competitors scramble to produce comparable technologies. Apple's quarterly reports improved significantly in 2007: Stocks were worth $199.99 a share—a record-breaking number at that time—and the company boasted a staggering $1.58 billion profit, an $18 billion surplus in the bank and zero debt.
In 2008, iTunes became the second-biggest music retailer in America—second only to Wal-Mart. Half of Apple's current revenue comes from iTunes and iPod sales, with 200 million iPods sold and 6 billion songs downloaded. For these reasons, Apple has been ranked No. 1 on Fortune magazine's list of "America's Most Admired Companies," as well as No. 1 among Fortune 500 companies for returns to shareholders.
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