• Apple hit a $3 trillion market cap for the first time in 2023.
  • But the iPhone-maker struggled in the 1990s until Steve Jobs returned as CEO. 
  • Apple has weathered hits and flops, from the influential Apple II to the misguided Newton MessagePad. 

Apple’s market cap is close to $3 trillion, a threshold it hit in June, and carried through to the market’s close. The company briefly hit that milestone once last year, too, but didn’t sustain. 

The consumer electronics juggernaut previously reached a $2 trillion valuation in 2020, becoming the first US company to hit that mark. Apple has cemented its dominance as customers continue to buy iPhones — with the iPhone 15 expected later this year.

When Steve Jobs took over as CEO of Apple in 1997, the company had been struggling to find its legs in a market increasingly dominated by Microsoft and its partners. 

Michael Dell himself once quipped that if he were in Jobs’ shoes, he’d shut Apple down and return the money to the shareholders. 

Here’s a look into the history of Apple in photos, from its inception, through its hard times, to the triumphant return of Jobs. 

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