Tim Cook: Apple's $1 trillion mcap is not the only measure of success

2025-04-28 05:35:44admin

Tim Cook wants everyone to chill just a bit.

In a memo sent to employees and obtained by Reuters, Apple CEO said it's alright to be proud of the company reaching a $1 trillion market capitalization, but pointed out it was "not the most important measure" of success.

SEE ALSO: This is probably what Apple's upcoming iPhones will look like

"Financial returns are simply the result of Apple’s innovation, putting our products and customers first, and always staying true to our values," Cook wrote.

Mashable Light Speed Want more out-of-this world tech, space and science stories? Sign up for Mashable's weekly Light Speed newsletter. By clicking Sign Me Up, you confirm you are 16+ and agree to our Terms of Use and Privacy Policy. Thanks for signing up!

Cook is correct in his assessment that market cap alone is not the best measure of success -- all one needs to do is read up on Petrochina, the Chinese oil giant that reached a $1 trillion market cap in 2007, only to lose nearly four fifths of its value by the end of next year. But Apple's success did not come overnight; it's a testament to the company's ability to continuously beat analysts' predictions and turn a profit, quarter after quarter, year after year.

Cook's comments come after a stellar fiscal third quarter -- the best in the company's history -- in which Apple posted a revenue of $53.3 billion and net income of $11.5 billion. The company's stock price closed at $207.39 on Thursday following the earnings report, making Apple the first-ever, publicly traded U.S. company to reach a $1 trillion market cap.

In the memo, Cook also gave a nod to the guy that started it all -- Steve Jobs.

"Steve founded Apple on the belief that the power of human creativity can solve even the biggest challenges – and that the people who are crazy enough to think that they can change the world are the ones who do," he wrote.

Featured Video For You

Is the 2018 MacBook Pro Apple's best laptop yet? We break it down for you