The 50 years of Apple, from garage to technology titan

At the beginning of 1976 in California, Steve Wozniak completed the design of a computer circuit board that he intended to share with other enthusiasts in a respected local club. His friend Steve Jobs also saw a business opportunity in manufacturing and selling these cards, leading to the birth of Apple. The company is celebrating its 50th anniversary this Wednesday. Apple has shaped both the tech industry and popular culture by making desktop computers, then smartphones, popularizing mobile apps, and demonstrating how devices and software can be closely integrated.

Despite being under pressure to prove itself as a technological powerhouse in the era of artificial intelligence, Apple continues to face challenges from competitors like Alphabet and Microsoft who are investing heavily in AI. Apple’s stock performance is ranked second worst among the “Big Seven” since the launch of OpenAI’s ChatGPT in November 2022.

Though Apple has been incorporating machine learning features in its chips since 2017, delays in deploying functions, including an updated Siri, suggest that Apple may not have been adequately prepared for how consumers would use AI. Rivals like OpenAI also plan to launch AI devices to challenge the long-standing dominance of smartphones.

However, Apple devices remain very popular. The strong demand for the latest iPhone 17 series drove profits in the December quarter, while the $599 MacBook Neo – its cheapest laptop – was successfully launched.

Analyst Ben Thompson commented that Apple had spent fifty years without anyone truly competing with its integrated business model; the future could depend on how convincing AI becomes and whether OpenAI can outperform the original.

Five graphs illustrate Apple’s rise, such as its rapid stock price growth, approaching $500 billion in annual revenue, services becoming primary revenue drivers, increasing revenue share from China and emerging markets, and the evolution of products like the Apple I circuit board shared by Wozniak in 1976 to items like the iPod, smartwatches, wireless earbuds, and the Vision Pro mixed reality headset.