{"id":2607,"date":"2026-04-16T07:02:37","date_gmt":"2026-04-16T07:02:37","guid":{"rendered":"https:\/\/www.iforbes.cz\/?p=2607"},"modified":"2026-04-16T07:02:37","modified_gmt":"2026-04-16T07:02:37","slug":"apple-oslavil-padesatku-jak-se-dostal-z-temer-zkrachovale-firmy-k-jedne-z-nejhodnotnejsich-na-svete","status":"publish","type":"post","link":"https:\/\/www.iforbes.cz\/index.php\/2026\/04\/16\/apple-oslavil-padesatku-jak-se-dostal-z-temer-zkrachovale-firmy-k-jedne-z-nejhodnotnejsich-na-svete\/","title":{"rendered":"Apple oslavil pades\u00e1tku. Jak se dostal z t\u00e9m\u011b\u0159 zkrachoval\u00e9 firmy k jedn\u00e9 z nejhodnotn\u011bj\u0161\u00edch na sv\u011bt\u011b"},"content":{"rendered":"\n

Spole\u010dnost Apple ned\u00e1vno oslavila sv\u00e9 50. v\u00fdro\u010d\u00ed jako jedna z nejhodnotn\u011bj\u0161\u00edch firem na sv\u011bt\u011b, av\u0161ak cesta k tomuto \u00fasp\u011bchu byla trnit\u00e1. Z podniku, kter\u00fd se ocitl na pokraji bankrotu, se stal glob\u00e1ln\u00ed l\u00eddr s obrovsk\u00fdm vlivem nejen na technologie, ale i na kapit\u00e1lov\u00e9 trhy. Kl\u00ed\u010dov\u00e9 p\u0159itom nebyly jen ikonick\u00e9 produkty, ale p\u0159edev\u0161\u00edm schopnost propojit je do jednoho funk\u010dn\u00edho a ziskov\u00e9ho celku. Apple v\u0161ak vstupuje do obdob\u00ed, ve kter\u00e9m bude muset svou dominanci obh\u00e1jit.<\/p>\n\n\n\n

Na pokraji krachu<\/strong><\/p>\n\n\n\n

Apple, jak ho zn\u00e1me dnes, p\u016fsob\u00ed jako synonymum stability, a\u010dkoli 90. l\u00e9ta vypr\u00e1v\u011bla zcela jin\u00fd p\u0159\u00edb\u011bh. Koncem dek\u00e1dy firma z\u00e1pasila s prudk\u00fdm poklesem tr\u017eeb, kdy konkr\u00e9tn\u011b v roce 1997 vyk\u00e1zala ztr\u00e1tu v\u00edce ne\u017e 1 miliardu USD. V tomto obdob\u00ed se vr\u00e1til i jej\u00ed zakladatel Steve Jobs, kter\u00fd p\u0159istoupil k nezbytn\u00fdm zm\u011bn\u00e1m a nap\u0159\u00edklad zredukoval produkty v portfoliu, zbavil se ztr\u00e1tov\u00fdch projekt\u016f a zavedl jasn\u011bj\u0161\u00ed strategickou linii. Zaj\u00edmavost\u00ed je, \u017ee mnoh\u00e9 z Jobsov\u00fdch princip\u016f jsou pou\u017e\u00edv\u00e1ny dodnes a staly se z\u00e1kladem pozd\u011bj\u0161\u00edho \u00fasp\u011bchu.<\/p>\n\n\n\n

Co je skute\u010dn\u00fdm produktem?<\/strong><\/p>\n\n\n\n

Apple si spojujeme hlavn\u011b s iPhonem, kter\u00fd sice generuje obrovskou \u010d\u00e1st tr\u017eeb, av\u0161ak skute\u010dnou v\u00fdhodou firmy v konkuren\u010dn\u00edm boji je jej\u00ed uzav\u0159en\u00fd ekosyst\u00e9m. Tento model si Apple za\u010dal formovat ji\u017e v \u00e9\u0159e iPod\u016f a iTunes, kter\u00e9 poprv\u00e9 propojily hardware, software a slu\u017eby. Po nich samoz\u0159ejm\u011b n\u00e1sledovalo vyd\u00e1n\u00ed iPhon\u016f a dal\u0161\u00edch za\u0159\u00edzen\u00ed a vznik App Store, \u010d\u00edm\u017e se otev\u0159el nov\u00fd zdroj p\u0159\u00edjm\u016f. Pro zaj\u00edmavost, Apple m\u00e1 podle vlastn\u00edch slov v\u00edce ne\u017e 2,5 miliardy aktivn\u00edch za\u0159\u00edzen\u00ed po cel\u00e9m sv\u011bt\u011b. Tento \u00fasp\u011bch proto vytv\u00e1\u0159\u00ed prostor pro lep\u0161\u00ed monetizaci a stabiln\u00ed p\u0159\u00edjmy, \u010d\u00edm\u017e se v posledn\u00edch letech stal segment slu\u017eeb dal\u0161\u00edm motorem r\u016fstu firmy. Tento p\u0159\u00edstup n\u00e1m z\u00e1rove\u0148 ukazuje, pro\u010d z\u00e1kazn\u00edci jen z\u0159\u00eddka p\u0159ech\u00e1zej\u00ed k jin\u00fdm zna\u010dk\u00e1m. Znamenalo by to ztr\u00e1tu komfortu, kompatibility a obsahu, p\u0159i\u010dem\u017e z finan\u010dn\u00edho hlediska jde pro podnik o mimo\u0159\u00e1dn\u011b siln\u00fd obchodn\u00ed model, proto\u017ee zaji\u0161\u0165uje opakovan\u00e9 p\u0159\u00edjmy. A pr\u00e1v\u011b d\u00edky n\u011bmu dok\u00e1zal Apple prom\u011bnit jednor\u00e1zov\u00fd prodej produkt\u016f na \u201edlhodob\u00fd vztah\u201c se z\u00e1kazn\u00edkem.<\/p>\n\n\n\n

Hospod\u00e1\u0159sk\u00fd r\u016fst firmy<\/strong><\/p>\n\n\n\n

Apple se zm\u011bnil z volatiln\u00edho technologick\u00e9ho titulu na stabiln\u00ed d\u00edky sv\u00e9 schopnosti generovat vysok\u00e9 finan\u010dn\u00ed objemy nap\u0159\u00ed\u010d ekonomick\u00fdmi cykly. P\u0159i pohledu na prvn\u00ed kvart\u00e1l fisk\u00e1ln\u00edho roku 2026 dos\u00e1hl Apple tr\u017eeb 143,8 miliardy USD, co\u017e p\u0159edstavuje meziro\u010dn\u00ed r\u016fst p\u0159ibli\u017en\u011b o 16 %. Z\u00e1rove\u0148 tak p\u0159ekonal o\u010dek\u00e1v\u00e1n\u00ed na \u00farovni 138 miliard USD. \u010cist\u00fd zisk dos\u00e1hl 42 miliard USD, co\u017e znamenalo n\u00e1r\u016fst z 36 miliard v roce p\u0159edt\u00edm. Tr\u017eby z prodej\u016f samotn\u00fdch iPhon\u016f byly v\u00edce ne\u017e 85 miliard USD, po nich\u017e n\u00e1sledovaly tr\u017eby ze slu\u017eeb s 30 miliardami USD. Solidn\u00ed hospod\u00e1\u0159sk\u00e9 v\u00fdsledky, kter\u00e9 se ka\u017edoro\u010dn\u011b zvy\u0161uj\u00ed, proto umo\u017e\u0148uj\u00ed firm\u011b realizovat zp\u011btn\u00e9 odkupy akci\u00ed a pravideln\u00e9 vypl\u00e1cen\u00ed dividend. V dal\u0161\u00edm 3m\u011bs\u00ed\u010dn\u00edm obdob\u00ed firma o\u010dek\u00e1v\u00e1, \u017ee jej\u00ed tr\u017eby vzrostou o dal\u0161\u00edch 14 a\u017e 16 %. [1]<\/p>\n\n\n\n

Solidn\u00ed v\u00fdkon na trhu<\/strong><\/p>\n\n\n\n

V\u00fdkon na akciov\u00e9m trhu je tak\u00e9 zaj\u00edmav\u00fd. Od sv\u00fdch za\u010d\u00e1tk\u016f v roce 1986 se cena akci\u00ed procentu\u00e1ln\u011b zv\u00fd\u0161ila o p\u011btim\u00edstn\u00e9 \u010d\u00edslo. B\u011bhem let si firma pro\u0161la obdob\u00edmi korekc\u00ed, av\u0161ak jej\u00ed akcie m\u011bly r\u016fstovou trajektorii, p\u0159i\u010dem\u017e na za\u010d\u00e1tku prosince 2025 dos\u00e1hly historick\u00e9ho maxima 278 USD. P\u0159esto\u017ee od za\u010d\u00e1tku roku 2026 jejich hodnota klesla p\u0159ibli\u017en\u011b o 4 % na \u00farove\u0148 259 USD, za posledn\u00ed rok vzrostly o 30 % a za 5 let a\u017e o 95 %. Aktu\u00e1ln\u00ed poklesy na akciov\u00e9m trhu vedly k tomu, \u017ee se Apple m\u00edrn\u011b posunul v \u017eeb\u0159\u00ed\u010dku nejhodnotn\u011bj\u0161\u00edch spole\u010dnost\u00ed sv\u011bta podle tr\u017en\u00ed kapitalizace, av\u0161ak st\u00e1le si udr\u017eoval 3. m\u00edsto, v t\u011bsn\u00e9m z\u00e1v\u011bsu za Googlem. Hodnota firmy p\u0159itom p\u0159es\u00e1hla v\u00edce ne\u017e 3,82 bilionu USD (\u00fadaje k 9. dubnu).*<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Zdroj: Google Finance*<\/em><\/p>\n\n\n\n

Stabilita jako nov\u00fd pl\u00e1n<\/strong><\/p>\n\n\n\n

Pod veden\u00edm Tima Cooka, kter\u00fd p\u0159evzal veden\u00ed firmy t\u011bsn\u011b p\u0159ed smrt\u00ed Steva Jobse, se Apple transformoval na efektivn\u00ed podnik. To v\u0161ak neznamen\u00e1, \u017ee by p\u0159estal inovovat \u2013 nad\u00e1le investuje do technologi\u00ed v\u010detn\u011b um\u011bl\u00e9 inteligence \u010di nov\u00fdch za\u0159\u00edzen\u00ed, jako je p\u0159ipravovan\u00fd skl\u00e1dac\u00ed iPhone. P\u0159esto se tempo z\u00e1sadn\u00edch novinek zpomalilo a firma dnes v\u00edce optimalizuje. Apple z\u00e1rove\u0148 \u010del\u00ed nov\u00fdm v\u00fdzv\u00e1m, jako je rostouc\u00ed regula\u010dn\u00ed tlak, zejm\u00e9na v oblasti App Store a digit\u00e1ln\u00edch slu\u017eeb, a mus\u00ed reagovat i na geopolitick\u00e1 rizika a diverzifikovat sv\u00e9 v\u00fdrobn\u00ed \u0159et\u011bzce. Investo\u0159i tak\u00e9 pozorn\u011b sleduj\u00ed, jak se Apple postav\u00ed k revoluci v oblasti um\u011bl\u00e9 inteligence. Ot\u00e1zkou z\u016fst\u00e1v\u00e1, zda firma dok\u00e1\u017ee p\u0159in\u00e9st dal\u0161\u00ed produkt, kter\u00fd zm\u011bn\u00ed trh podobn\u011b jako iPhone. Apple dnes sice stoj\u00ed na vrcholu, ale z\u00e1rove\u0148 \u010del\u00ed nov\u00e9 konkurenci a vysok\u00fdm o\u010dek\u00e1v\u00e1n\u00edm.<\/p>\n\n\n\n

Diana Fatikov\u00e1, analyti\u010dka <\/strong>InvestaGo<\/strong><\/a><\/p>\n\n\n\n

* Minul\u00e1 v\u00fdkonnost nen\u00ed z\u00e1rukou budouc\u00edch v\u00fdsledk\u016f.<\/p>\n\n\n\n

[1] V\u00fdhledov\u00e1 prohl\u00e1\u0161en\u00ed vych\u00e1zej\u00ed z p\u0159edpoklad\u016f a aktu\u00e1ln\u00edch o\u010dek\u00e1v\u00e1n\u00ed, kter\u00e1 mohou b\u00fdt nep\u0159esn\u00e1 nebo se mohou zm\u011bnit v d\u016fsledku ekonomick\u00e9ho prost\u0159ed\u00ed. Takov\u00e1 prohl\u00e1\u0161en\u00ed nejsou z\u00e1rukou budouc\u00ed v\u00fdkonnosti. Zahrnuj\u00ed rizika a nejistoty, kter\u00e9 je obt\u00ed\u017en\u00e9 p\u0159edv\u00eddat. V\u00fdsledky se mohou podstatn\u011b li\u0161it od v\u00fdsledk\u016f vyj\u00e1d\u0159en\u00fdch nebo implikovan\u00fdch v t\u011bchto v\u00fdhledov\u00fdch prohl\u00e1\u0161en\u00edch.<\/p>\n","protected":false},"excerpt":{"rendered":"

Spole\u010dnost Apple ned\u00e1vno oslavila sv\u00e9 50. v\u00fdro\u010d\u00ed jako jedna z nejhodnotn\u011bj\u0161\u00edch firem na sv\u011bt\u011b, av\u0161ak cesta k tomuto \u00fasp\u011bchu byla<\/p>\n","protected":false},"author":1,"featured_media":2533,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_container_layout":"default_layout","colormag_page_sidebar_layout":"default_layout"},"categories":[58],"tags":[336,629,630,379],"_links":{"self":[{"href":"https:\/\/www.iforbes.cz\/index.php\/wp-json\/wp\/v2\/posts\/2607"}],"collection":[{"href":"https:\/\/www.iforbes.cz\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.iforbes.cz\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.iforbes.cz\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.iforbes.cz\/index.php\/wp-json\/wp\/v2\/comments?post=2607"}],"version-history":[{"count":1,"href":"https:\/\/www.iforbes.cz\/index.php\/wp-json\/wp\/v2\/posts\/2607\/revisions"}],"predecessor-version":[{"id":2609,"href":"https:\/\/www.iforbes.cz\/index.php\/wp-json\/wp\/v2\/posts\/2607\/revisions\/2609"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.iforbes.cz\/index.php\/wp-json\/wp\/v2\/media\/2533"}],"wp:attachment":[{"href":"https:\/\/www.iforbes.cz\/index.php\/wp-json\/wp\/v2\/media?parent=2607"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.iforbes.cz\/index.php\/wp-json\/wp\/v2\/categories?post=2607"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.iforbes.cz\/index.php\/wp-json\/wp\/v2\/tags?post=2607"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}