When the late Steve Jobs revealed the iPhone to the world in 2007, Apple (NASDAQ: AAPL) wasn’t paying a dividend.
It wasn’t surprising.
The iPhone maker was growing fast but lacked the diversity in revenue sources to reliably pay out a part of its earnings.
Back then, the bulk of Apple’s revenue was tied to just two product lines, the MacBook and the iPod.
Five years would pass before the company finally paid out a dividend.
By fiscal 2012, Apple had grown to become a behemoth, drawing in US$157 billion in revenue.
More importantly, the company had become less dependent on any product, service or country.
THE ASIAN FACTOR
With US$157 billion in topline sales, you might think that the best days for Apple were over.
But the company, named after a fruit, confounded critics by growing larger, adding more than US$100 billion in revenue to surpass US$260 billion seven years later, in fiscal 2019....