Apple launched the first iPhone in 2007 and became a frequent leader in global market-capitalization rankings.
Steve Jobs introduced the original iPhone on January 9, 2007, at Macworld in San Francisco. Apple released it in the United States on June 29 of that year. The device combined a mobile phone, an iPod, and an internet communicator in one touchscreen product.
The iPhone helped transform Apple’s business. It created a large hardware platform connected to software and services, and later models expanded the product into international markets. The App Store, introduced in 2008, added a major ecosystem around the phone and enabled developers to distribute software directly to users.
Market capitalization is not the same as sales or profit, but investors often value companies based on expectations of future earnings. The iPhone’s recurring upgrade cycle, global brand, and associated services became important parts of the expectations supporting Apple’s high valuation.