In August 2020, US tech giants Apple Inc. become the first American company to reach a valuation of $2 trillion.
This was a groundbreaking achievement piled onto another after Apple also became the world’s first company to cross the $1 trillion mark in 2018.
These figures not only highlight Apple’s industrial success over the years but also underscores its impact on the technology market.
The iPhone, Mac computers, Apple wristwatch, Airpods and the Apple Vision Pro (Latest release) inventors are seen to be the most valuable company in the world. Their dominance in the industry has been fuelled by the popularity and ‘class’ that comes with owning one of their gadgets.
Not only did Apple surpass the net worth of other world industry leaders, but has also taken out the entire GDP of several African countries.
To put it into perspective, Apple is bigger than the combined Gross Domestic Product of 48 (or more)Â countries, including two large economies in the continent, South Africa and Nigeria. This emphasizes the financial prowess that the company holds.
Statistics from the World Bank revealed that, in 2019, GDP for the entire sub-saharan African region was $1.75 trillion. It is worth noting that Apple’s valuation surpasses this figure greatly.
While Apple may be one of the largest companies in the world, it doesn’t hold the coveted title of 1st company to cross $2 trillion mark. That position went to Saudi Aramco who attained that in 2019.
In 2023, Apple’s market capitalization stands well over $3 trillion, and its net worth is constantly growing. Apple has become a force to reckon with as it produces, supplies and continues to innovate new products for its loyal customers.
Apple’s strong financial performance has driven its stock price to record highs. On the S&P 500, one Apple Stock retails at $147.11.
The company is well-positioned to achieve its goals. With future ambitious plans, Apple looks to be the world’s leading provider of technology products and services with new features e.g Augmented reality and Artificial Intelligence.
Furthermore, Apple is well-funded and despite the unpredictable nature of markets, there is a low probability of the firm sinking into debt. It already has over $200 billion in cash reserves.
To keep consumers interested in their products, Apple continues to innovate its product lines, with new releases of the iPhone, iPad, Mac and Apple Watch. They have also expanded into new markets such as wearables, healthcare and self-driving cars.
With such a strong brand, is 21-year-old Steve Job’s invention the greatest company to grace the world?