Apple is the 1st company worth $700 billion

By Casey Frye, CCNN Writer

Apple Watch
Is Apple Watch going to replace smartphones?

If there’s one company that revolutionized technology, it’s Apple, and they recently became the 1st company to be worth $700 billion!

That makes it worth more than double the second most valuable company, oil giant Exxon Mobil, which is valued at about $385 billion.

Apple has grown by leaps and bounds since its $100 billion value in 2007, thanks to the release of the iPhone that summer. One year later, it released an app store, and in 2010, Apple introduced its groundbreaking iPad tablet, sending the company’s value skyrocketing even more!

Founded by Steve Jobs, Steve Wozniak, and Ronald Wayne in 1976, Apple was formed to develop and sell personal computers, and its Macintosh went head-to-head with rival machines from Microsoft and IBM.

The real creative genius behind Apple was Jobs, who helped Apple rise to power with the cool-looking iMac in 1998, the iPod portable music device in 2001, and the iTunes store in 2003. Jobs, who passed away on October 5, 2011, is widely recognized as the father of modern personal computers, for his focus on simplified design and consumer-friendly machines with mass appeal. So, what’s next for Apple? They’re partnering with First Solar to build an $848 million, 1,300-acre solar farm in Monterey County, California, to power their headquarters, all Apple offices, and 52 Apple stores in California! And, as far as gadgets, the Apple Watch is taking wearables to the next level this April. Will it one day replace smartphones?

Images courtesy of Apple.