Apple Inc. has grown to be a major corporation and a world-recognized brand. It did not just happen overnight though. This company was first created 43 years ago, on April 1, 1976, by Steve Jobs and Steve Wozniak. The two Steves were introduced one another through a mutual friend in June of 1971 (History of Apple Inc.) The two men began working together selling 'blue boxes', which allowed individuals to make long-distance calls at no additional cost. Jobs sold the boxes, while Wozniak constructed them and together they split the profits. Both Steves withdrew from their respective colleges in 1975 and the initial construction of Apple I stemmed from Wozniak's need of a computer but all were out of his price range (History of Apple Inc).
Wozniak and Jobs built a circuit board to put into Wozniak's earlier 6800 paper computer in order to run the new processing chip. They had successfully built a printed circuit board for computers. In turn, it allowed Wozniak to have a better computer without buying a whole new device. The two Steves joined up with Ronald Wayne who was a draftsman at an alternative company. Wayne did not stay long with the start-up company, only 12 days in fact. This was due to his past experience with a failed venture capital a few years prior (History of Apple Inc.). Jobs proposed the name Apple Computers to Wozniak after returning from a trip to an Oregon farm. In addition to it being a unique name, it placed their company ahead of a competitor in the phone book.
Jobs was able to sell 50 units of the new Apple I computer to Paul Terrell who operated a computer chain store entitled The Byte Shop (History of Apple Inc.). Jobs sold each computer for a total of $500 which would equate to about $2,200 in today's market. There was a small gap in the construction of these computers for Paul but was quickly resolved. The issue was Jobs and Wozniak did not have the money to buy the parts of make the computers, so the parts distributor had to call and verify with Paul that the deal indeed was going to happen. In turn, Jobs got a 30-day layaway term for the parts. The two Steves and a small crew burned midnight oil day after day building and testing the computers (History of Apple Inc.). Ultimately, they were able to deliver the order to Paul Terrell in time to pay back the parts distributor. Even after doing so, Jobs and Wozniak had enough profit leftover to celebrate their first sell and have money for their next build order. Throughout all of this, the two Steves had figured out how to finance everything without giving away a single share of stock (History of Apple Inc.).
Although Wozniak and Jobs had great success, there was more potential for the company outside of printed circuit boards. They had successfully built 200 Apple 1s but they wanted to expand their company. Unfortunately, at the time, average individuals having personal computers was such a foreign idea banks did not want to fund the two men. Fortunately for them, Jobs met millionaire Mike Makkula, who unlike the banks saw great potential and became an investor. Makkula invested $92,000 of his own property and secure a $250,000 ($1,100,000 equivalent today) in a line of credit from Bank of America. Through Markkula's funding help, Apple Computer was incorporated on January 3, 1977 (History of Apple Inc.)
With a new source of funding and expanded business, Wozniak began designing and improving the next generation computer, Apple II. A working prototype was made by August 1976 and then presented the Apple II at the West Coast Computer Faire in April of 1977 (History of Apple Inc.). Japanese chemist, Toshio Mizushima became the first authorized Apple dealer in Japan. Apple II was released in 1977 and was one of only three computers generated for a home computer market. Millions of computers were sold well into the 1980s, which included a few different model versions.
Skipping forward a few years, Apple Computer Inc created the Apple III, went public, held their first Initial Public Offering meeting, and became one of the three largest microcomputer companies overshadowing Radio Shack as the leader. In 1985, Jobs and Wozniak leave Apple Inc due to 'going in the wrong direction for the last five years' (History of Apple Inc.). Twelve years later Steve Jobs returns to Apple when the CEO position opened up and he began restructuring the company's product line. Steve Jobs served in the CEO position for 14 years before resigning due to personal health reasons. Apple continued creating products that society has come to know and gain loyalty too.
Modern-day Apple products include devices such as iPods, iPhones, iPads, iTunes, iOS, AirPods, and Apple Watch. Most people do not know what the 'i' stands for in almost all of Apple's products. While the answer is not definitely clear, most research and understanding explains that it stands for internet. Steve Jobs had the idea that all of Apple's technology would be connected to the internet one day, and to his vision, they are internet compatible. Every year Apple Inc. holds its annual special event where they discuss the next generation of products along with information on the upcoming release date. This year is no different, on Tuesday, September 10th, the rumored iPhone 11 or XI will be showcased. While nothing is confirmed yet, there will be a live stream video link to watch the event live online for those who cannot be present at the conference (Page).
