Tim Cook on $1 Trillion USD Market Cap: ‘Not the Most Important Measure’ of Success
Apple has officially reached the $1 trillion market capitalization, and while CEO Tim Cook hasn’t commented on this historic milestone publicly, he did send an email to employees to thank them.
In a memo sent Thursday to Apple employees, CEO Tim Cook called the valuation a “significant milestone” but added that it wasn’t the “most important measure” of the company’s success.
“While we have much to be proud of in this achievement, it’s not the most important measure of our success,” Cook said. “Financial returns are simply the result of Apple’s innovation, putting our products and customers first, and always staying true to our values.”
Tim Cook then goes on to praise workers for their efforts to keep Apple head of competition, also reminding that Cupertino’s success is based on a mix of innovation, dedicated employees, partners, and customers who invest in their products.
“It’s you, our team, that makes Apple great and our success is due to your hard work, dedication, and passion,” said Cook. “I am deeply humbled by what you do, and it’s the privilege of a lifetime to work alongside you. I want to thank you from the bottom of my heart for all the late hours and extra trips, all the times you refuse to settle for anything less than excellence in our work together.”
A trillion dollars in market cap means the Cupertino company has both the cash and stock to buy anything it wants. That will be very important if the company decides to venture further into areas like self-driving cars or video content.
“Just as Steve always did in moments like this, we should all look forward to Apple’s bright future and the great work we’ll do together,” Cook concluded.
Apple’s market capitalization is expected to continue growing in the coming months, especially as the company plans to unveil three different iPhone models in September.
This year’s iPhone generation will include a direct successor to the iPhone X with a 5.8-inch OLED screen, a 6.1-inch LCD configuration that’s projected to hit the market at a lower price, as well as an iPhone X Plus featuring a 6.5-inch OLED panel and based on the same approach as the original iPhone X.