Apple’s stock prices as of December 5, 2018 at 10:10 a.m. ET. Click to enlarge

However, despite its early success, Apple struggled through much of the 1980s and 90s. In 1985, the company ousted its famously volatile co-founder Steve Jobs and began to falter in the market. It fell behind its competitors, including Microsoft, thanks to a string of failed products and turnover at the top.

By 1997, Apple was on the brink of bankruptcy and forced to lay off a third of its workers. As a last-ditch effort, it rehired Jobs and named him interim CEO. Jobs vetoed the majority of Apple’s production plans at the time and implemented a new focus on simplicity.

Under his leadership, the company released the iMac G3 in 1998, which brought Apple back to prominence. Jobs followed that with the release of the iPod in 2001 and the iPhone in 2007. The iPhone quickly became a top seller and revolutionized how customers use technology.

Today, Apple is a force to be reckoned with: In August, the technology giant became the first public U.S. company to reach a $1 trillion market cap after the stock briefly hit $207.05 per share. The surge allowed the software company to reach that milestone ahead of e-commerce giant Amazon.

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