Apple crosses $2 trillion mark, here are the reasons behind sharp growth

Ahead of its tech competitors, Apple corporation's market value crossed the $2 trillion mark this week. Amazon, Microsoft, Huawei, Samsung, and Google (Alphabet) are also fast-growing tech companies, but for different reasons than Apple's growth.

Amazon's success is mainly attributable to the efficiency with which it conducts its operations. One day delivery, drop at doorstep, and cost-effective delivery methods such as drivers are all parts of that chain. This has allowed the company to attract customers from other large and small online sellers.

While for Google, many analysts believe that its stockpile of information is the main advantage. It leverages information for several purposes, the most profitable one has tailored advertising for other businesses.

But what exactly has driven Apple's growth?

There is no doubt that Apple has its technology strengths including security, performance, and its app store ( for iPhones). Yet none of these features justifies the premiums the company charges given that competitors provide almost the same value for less money. It is the brand's emotional connection with the customers that have made so valuable. The launch of Macintosh, in 1984, and the iconic commercial which introduced the computer were the beginning of such an emotional connection.

The next big event in the company's history was Steve Jobs launching the iconic iPhone in 2007. Jobs himself was a reason that people felt a connection with the company. Somehow both launches mocked the competition--the former mocked IBM's PC and its monopoly over computers, and the latter mocked all the keyboard phones. I do not suggest that mocking competition can help win people's hearts, but what the two events said about Apple and the competition was true. IBM had monopolized the computer market and did not make any revolutionary innovation. While keyboard phones such as Nokia had dominated the market for years without innovation in input methods (touch vs keypad). Therefore, what the iPhone said was welcomed.

Thus the fact that just two years after achieving $1 trillion market capitalization, Apple has doubled its value to $2 trillion dollars to become the most valuable company in the world--Saudi's Aramco had reached this mark but its value went down again due to COVID-19. Although there are grey areas such as Chinese restrictions, and the recent war on Apple's app store initiated by Epic games, Apple's foreseeable future seems bright.