Apple became the world’s most valuable company after its 2007 iPhone launch helped drive a long-term market-cap rise.
The iPhone combined a mobile telephone, an internet communicator, and an iPod in one touchscreen device. Its later App Store ecosystem created a new source of software and services revenue, strengthening Apple’s relationship with customers.
Apple’s rise to the top of global market-cap rankings was gradual rather than an immediate result of the launch. The company’s valuation also reflected the success of the iPad, Mac, Apple Watch, AirPods, and subscription services.
The iPhone was announced by Steve Jobs in January 2007 and released in the United States in June of that year. It helped reshape the smartphone industry and became Apple’s defining product.