Even after the rise of Google and Facebook, Apple remains the most closely watched technology company of them all. It shouldn't shock anyone, then, that Apple has always generated an unusually high volume of misunderstandings masquerading as common knowledge.
Myth No. 1: Apple is the most valuable company in history.
Apple achieved a historic feat when it hit a value of $1 trillion in August. To many observers, that made it "the most valuable company of all time."
But Apple's milestone was specific to market capitalization on a U.S. stock exchange. Eleven years before, PetroChina - the Chinese state-owned oil and gas company - briefly hit $1.2 trillion on its opening day on the Shanghai Stock Exchange. (It subsequently spiraled into what Bloomberg News called "the biggest stock collapse in world history.") Another state-owned petroleum behemoth, Saudi Arabia's Aramco (which plans to hold an IPO by 2021 at a valuation of up to $2 trillion), is worth $1 trillion to $1.5 trillion today, according to most analysts' estimates.
Myth No. 2: Apple doesn't profit from its users' personal information.
Apple CEO Tim Cook is fond of reminding us that the company is unlike some other tech giants - think Google and Facebook - because its main business is selling hardware, not pelting consumers with targeted advertising based on information it's collected about them.
It's true that Apple has opted out of the ad business and doesn't snoop on users of its products; it even makes it tougher for other companies to do so (the Safari browser was the first to block third-party cookies by default). But a recent Goldman Sachs report estimated that Google will pay Apple $12 billion next year to remain the default search engine on the iPhone, iPad and Mac. Let's be clear: The only reason Google would be willing to fork over a sum anywhere in that range is because targeting Apple fans with ads is so profitable. Apple is making a tremendous amount of money from the tracking of its customers' search results; it has merely rented the right to scrutinize users to a third party.
Myth No. 3: Apple designs its products to quickly become obsolete.
From the moment Apple announced its first iPhone in 2007, pundits have accused the company of willfully curtailing its smartphones' useful life, the better to sway us into buying new ones on a regular schedule. Last December, when Apple acknowledged that it had tweaked iOS to slow down older iPhones, the cynics thought they'd found their planned-obsolescence smoking gun. "
All but lost in the controversy was Apple's sensible (and true) explanation: It was "throttling" those iPhones because their aging batteries tended to cause abrupt shutdowns - a flaw that, left unchecked, might have not only been irritating but also led consumers to replace their phones prematurely. The company responded to consumer ire by offering discounted battery replacements and adding an option in iOS to turn off the battery-health monitoring feature that initiated the slowdowns - steps that, if Apple had taken them in the first place, might have allowed it to sidestep the kerfuffle.
Myth No. 4: A disruptor under Steve Jobs, Apple now plays it safe.
A frequent charge is that the company has "lost its mojo" under Cook, as an NPR writer put it in 2017, because it no longer turns entire sectors upside down.
In truth, Jobs's product development skills always had as much to do with evolution as revolution. Yes, the 2007 iPhone was a breakthrough. But the App Store, which unlocked most of its power, didn't arrive until a year later. It took another year after that until the phone's camera got features such as autofocus and the ability to shoot video. Today's Apple - steadily improving the Apple Watch of 2015, for example - follows a similar strategy.
Myth No. 5: Macs aren't susceptible to viruses and other malware.
Back in 2006, Apple pitched the Mac on TV with a commercial that showed comedian and writer John Hodgman introducing himself as a PC, sneezing uncontrollably and then toppling over - to dramatize the fact that there were "114,000 known viruses for PCs." Actor Justin Long, portraying a Mac, wasn't susceptible to any of them.
It is true that Macs are less malware-ridden than their Windows counterparts. But partly that's because Apple ships only seven per cent of the world's computers, making it a far less juicy target for bad guys. Still, the software company Malwarebytes reported a 270 per cent increase in Mac-specific viruses from 2016 to 2017.
-- Harry McCracken, the technology editor for Fast Company, also covered the tech industry for Time and founded the Technologizer site.
