Apple Inc. was initially known as apple computer Inc. it is an American company specializing in the manufacture of smartphones, tablet and personal computers, computer software, and peripherals (Levy, 2019). It is said to be the first successful company in manufacturing personal computers and popularizing graphical user interfaces. Its headquarters are in Cupertino, California (Levy, 2019). The company is considered one of the best five companies in the United States alongside other companies such as Microsoft, Google, Amazon, and Facebook.
Apple Inc. was founded in 1976 by Steve Jobs, Steve Wozniak, and Ronald Wayne. Wayne sold back his shares to Wozniak and jobs. The two hired computer designers and started a production line, and the company went public in 1980 (Levy, 2019). By the year 2020, the total annual revenue of the company totaled $274.5 billion. It is now named as the world's largest technology company and the most valuable company. It is the fourth world largest manufacturer of smartphones in the technology industry (Carmichael, 2019). It became the first $2 trillion U.S Company in august 2020 with 147,000 full-time employees and ran 511 retail stores in 25 countries.
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The success of Apple Inc. comes from the company being an innovator not only in the technology industry but also in finance (Carmichael, 2019). Examining the capital structure shows how quickly the company has adapted to the environment. The company’s total equity share in 2019 was at $96.5 billion. This comprises $43.4 billion common stock and additional paid-in capital, $53.7 billion retained earnings, $639 million less accumulated and comprehensive income, and $4.57 billion outstanding. The company's liabilities as of 2019 were $89.7 billion, comprising 429.1 billion accounts payable, $13.5 billion in short-term notes and bonds. $136 billion of non-current liabilities and long-term debt (Carmichael, 2019). This totals to 4225.8 billion total liabilities in the last three years.
References
Carmichael, C. (2019). Understanding Apple’s Capital Structure. Investopedia. Pg. 2-5. https://www.investopedia.com
Levy, S. (2019). Apple Inc. American Company. Britannica. Pg. 3-8. https://www.britannica.com
