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The iTunes Store provides music, audiobooks, iPod games, music videos, episodes of television programs, and movies which can be downloaded using iTunes on Mac or Windows, and also on the iPod touch and the iPhone. The company's best-known hardware products include the Macintosh line of personal computers, the iPod line of portable media players, and the iPhone. Apple's software products include the Mac OS X operating system, the iLife suite of multimedia and creativity software, and Final Cut Studio, a suite of professional audio- and film-industry software products.
The company, incorporated January 3, 1977, was known as "Apple Computer, Inc." for its first 30 years. On January 9, 2007, the company dropped "Computer" from its corporate name, reflecting the company's ongoing expansion into the consumer electronics market in addition to its traditional focus on personal computers.
Apple employs over 20,000 permanent and temporary workers worldwide and had worldwide annual sales in its fiscal year 2007 (ending September 29, 2007) of $24.01 billion.
For a variety of reasons, ranging from its philosophy of comprehensive aesthetic design to their advertising campaigns, Apple has engendered a distinct reputation in the consumer electronics industry and has cultivated a customer base that is unusually devoted to the company and its brand, particularly in the United States.
On January 10, 2006, Apple released its first Intel chip computers, a new notebook computer known as the MacBook Pro (with a 15.4" screen) and a new (though cosmetically identical) iMac with purportedly two to three times faster performance compared with its predecessor. Both used Intel's Core Duo chip technology. Through 2006, Apple transitioned the entire Mac product line to Intel chips, retaining the enclosure design while replacing its internal components. The Power Mac brand was retired, with Mac Pro being its successor. Apple also introduced a new piece of software called Boot Camp that helps users install Windows XP on their Intel Mac alongside Mac OS X.
Apple's
success during this period, beginning in 1997 (the first year the
company turned a profit after losses through 1995 and 1996), but
accelerating between 2003 to 2005, was evident in its skyrocketing
stock. Between early 2003 and January 2006, the price of a share of
Apple's stock increased more than tenfold, from a little more than $6
per share (split-adjusted) to more than $80 per share. On January 13,
2006, Apple's market cap surpassed that of Dell. Nearly ten years
prior, in 1997, Dell's CEO, Michael Dell, had asserted that if he ran Apple
he would "shut it down and give the money back to the shareholders.
Delivering his keynote at Macworld 2007 (January 9, 2007), Steve Jobs
announced a change of name: Apple Computer Inc. would from that point be known as Apple Inc.
The event also saw the announcement of the iPhone, and the Apple TV.
The following day, Apple shares hit $97.80, then an all-time high. In
May 2007, Apple's share price passed the $100 mark.
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