Economic Perspectives with Hopeton Hay on KAZI 88.7 FM in Austin, TX

I Slept on Apple, But the Steve Jobs Biography Woke Me Up

Posted by Hopeton on March 21, 2012

Recently I’ve been listening to the biography of Steve Jobs written by Walter Isaacson as I drive across the state in lieu of my usual sports talk shows.  While I’ve been aware of all the new products launched by Apple (I own an iPhone, an ipod, and have been contemplating purchasing the iPad) I just realized that Apple had sales over $100 billion in its last fiscal year.  Last I recalled Apple was a $10 billion company.  I feel like Rip Van Winkle (for those who may not be familiar with him, he is a character in a story written by Washington Irving, who fell asleep and didn’t wake up for 20 years).  So I decided to research the meteoric rise in sales and this is what I found.  According to the web site wikinvest.com, Apple’s sales in 1995 was $11.06 billion, then they declined to $9.83 billion in 1996.  For the next 8 years sales hovered between a low of $5.36 billion in 2001 and a high of $8.28 billion in 2004.  Annual sales did not surpass the 1995’s $11.06 billion until 2005 when sales hit $13.93 billion.  Since then sales have grown every year increasing 677% between 2005 and 2011.  I am astonished and wide awake now!

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