Apple inc.

Apple inc. is an American multinational corporation that designs and markets consumers electronics, computer software, and personal computers. The company is best known hardware products include the Macintosh line of computers,the iPod,the iPhone and the iPad. Apple software includes the Mac OS X operating system, the iTunes media browser, the iLife suite for multimedia and creativity software, the iWork suite for productivity software.Aperture a professional photography package and more

  Post–Steve Jobs era

On January 17, 2011, Jobs announced in an internal Apple memo that he would take another medical leave of absence, for an indefinite period, to allow him to focus on his health. Chief operating officer Tim Cook took up Jobs' day-to-day operations at Apple, although Jobs would still remain "involved in major strategic decisions for the company."Apple Inc. surpassed Microsoft in market capitalization in 2010 with an 84 percent increase to $153.3 billion, and also became the most valuable consumer-facing brand in the world.In June 2011, Apple unveiled the iCloud online storage and syncing service for music, photos, files and software. It has been argued that Apple has achieved such efficiency in its supply chain that the company operates as a monopsony (one buyer, many sellers), in that it can dictate terms to its suppliers. Briefly in July 2011, due to the debt-ceiling crisis, Apple's financial reserves were greater than those of the US Government. On August 24, 2011, Jobs resigned his position as CEO of Apple. He was replaced by Tim Cook and Jobs became Apple's chairman. Prior to this, Apple did not have a chairman and instead had two co-lead directors, Andrea Jung and Arthur D. Levinson, who continued with those titles.
On October 4, 2011, Apple announced the iPhone 4S, which includes an improved camera with 1080p video recording, a dual core A5 chip capable of 7 times faster graphics than the A4, a voice recognition system named Siri, and cloud-sourced data with iCloud. It was released on October 14, 2011. On the day after the announcement, October 5, Apple announced that Jobs had died, marking the end of an era for Apple Inc.