Apple’s stock closed at just over $280 on Friday. That places it at about 12% shy of overtaking Exxon in the top slot on the Standard and Poor’s 500 market index. That means Cupertino’s market value may soon be greater than the oil behemoth. That’s particularly amazing when you consider the fact that the companies that have held that position include GE, AT&T, IBM and, of course Exxon.
So think about it. The little company in Cupertino may well join the ranks of huge, diversified companies like GE. It boggles the mind, especially when you consider the fact that Apple only offers a limited selection of products and does so while rarely discounting their premium prices.
How can one account for that? Well one way to understand Apple’s success is recognize the clarity they have. They have a specific approach, they are unwavering in their strategy, and, better than just about anyone, they understand of WHY they do what they do.
In it, Simon Sinek explains that Apple’s success is directly linked to the fact that the company has a clear vision of WHY they exist. While other companies talk about WHAT they produce, Apple focuses on WHY they do what they do. Their (oh so awesome!) products flow from that understanding.
I watched Sinek’s video last June and promptly downloaded Sinek’s book Start with Why: How Great Leaders Inspire Everyone to Take Action
to my… Apple iPad. 🙂
It is not an understatement to say that the book profoundly changed the way I view the world and my role in it. It is also the reason I’m not surprised by Apple’s runaway success. Still… the fact that Apple may soon be sitting at the top of the S&P 500… that’s pretty amazing!
“It boggles the mind, especially when you consider the fact that Apple only offers a limited selection of products and does so while rarely discounting their premium prices.”
You mean like Exxon???
Good point but to mind mind offering a small number of consumer items for sale which will limit your market vs selling something the entire world relies on to function is a bit different. But, yes, I could have worded that better for sure… 🙂
I agree, but I’m not as surprised about Apple’s success. They have a great reputation, a cult-like following, and they actually build great products. It is a significant development, no doubt. We are reaching a tipping point in history where products like those sold by Apple are more in demand than physically moving from place to place in a vehicle.
Agreed. Funny for me to think back just a few years. Before I got my first iPhone I was ANYTHING but a fan of Apple’s products. Got the original iPhone and within a short period of time was using only Apple’s products. Since then, if Apple gave me a cut of every Apple device I have convinced someone to buy I would be a rich man… Then again, for most people many of Apple’s products pretty much sell themselves.
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