Apple Inc., formerly Apple Computer, Inc., is a multinational corporation that creates consumer electronics, personal computers, computer software, and commercial servers, and is a digital distributor of media content. Apple's core product lines are the iPhone smart phone, iPad tablet computer, iPod portable media players, and Macintosh computer line. Founders Steve Jobs and Steve Wozniak effectively created Apple Computer on April 1, 1976, with the release of the Apple I, and incorporated the company on January 3, 1977,in Cupertino, California.
With the introduction of the successful iPod music player in 2001 and iTunes Music Store in 2003, Apple established itself as a leader in the consumer electronics and media sales industries, leading it to drop "Computer" from the company's name in 2007. The company is now also known for its iOS range of smart phone, media player, and tablet computer products that began with the iPhone, followed by the iPod Touch and then iPad. As of 2012, Apple is the largest publicly traded corporation in the world by market capitalization, with an estimated value of US$626 billion as of September 2012.Apple Inc's market cap is larger than that of Google and Microsoft combined. Apple's worldwide annual revenue in 2010 totalled US$65 billion, growing to US$127.8 billion in 2011 and $156 billion in 2012.The Apple Store is a chain of retail stores owned and operated by Apple Inc., dealing in computers and consumer electronics. The stores sell Macintosh personal computers, software, iPods, iPads, iPhones, third-party accessories, and other consumer electronics such as Apple TV. Some high profile stores feature a Theatre for presentations and workshops and a Studio for training with Apple products; all stores offer a Genius Bar for technical support and repairs, as well as free workshops available to the public. Under the leadership of Ron Johnson, the former Senior Vice President of Retail Operations, the Apple Stores have,