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Annual revenue of $394 billion, more than a billion a day. Not the first company to do it, though. Exxon did it in the 2000s when oil was up to $140, and I thi
by ckastner 4y ago
Annual revenue of $394 billion, more than a billion a day.
Not the first company to do it, though. Exxon did it in the 2000s when oil was up to $140, and I think Walmart did it, too.
- est31 4y ago2% of (nominal) US GDP! If Apple were a country, it would rank in the top 30.
- TMWNN 4y agoHarry Truman said in 1945 about the atomic bomb, "We thank God that it has come to us, instead of to our enemies". I feel the same way about Apple and FAANG and Silicon Valley as a whole (and Wall Street, and Hollywood, and SpaceX/Tesla, and the Ivy League), that they are in the United States. That doesn't mean I approve of everything they do. That doesn't mean I can't or won't decry their putting thumbs on scales toward a certain type of bien-pensant ideology. That does mean that, overall, I am very, very glad that they are American instead of Russian, Chinese, or even British, French, or German.
- FullyFunctional 4y agoYou mean AAG? :) both Facebook and Netflix have slid dramatically from their prior glory.
- jimbob45 4y agoThere's an argument to be made for one or all of Microsoft, Tesla, and Google to be included in there (I'm not calling them Alphabet and I'm not calling Facebook Meta I don't care how much you pay me).
- ben_w 4y agoIf only one of the company names started with the letter E, then we could make the meta-joke of META standing for Meta, E*, Tesla, Alphabet.
- flyaway123 4y agoE Corp
- warkdarrior 4y agoThe current nomenclature is Microsoft-Apple-Google-Amazon (MAGA).
- cercatrova 4y agoI guess they really are making America great again /s
- dillondoyle 4y agoI'd prefer GAMA ;)
- pclmulqdq 4y agoFacebook is a value stock now, not a high-growth exciting company.
- rswail 4y agoWhy would you include Tesla in there? They've got a huge market cap at an absurd P/E ratio, but they don't have anything approaching a huge market share of vehicles, quick search shows 19% of the EV market, which is only 10-20% of the overall vehicle market.
- Apocryphon 4y agoGoogle is Alphabet, just call it AAA.
- girvo 4y agoWhich is what I feel like yelling when I remember how much power just those three companies wield over everyone’s lives.
- ayewo 4y agoWith Netflix sliding dramatically, it has become MAMAA. MAMAA: Microsoft. Apple. Meta. Amazon. Alphabet
- SoftTalker 4y ago> I am very, very glad that they are American instead of Russian, Chinese, or even British, French, or German. It's not an accident.
- bobkazamakis 4y agothey aren't any of those, they're Irish, and that's no accident either.
- yieldcrv 4y agouhhhhhhhh whaaat? this has such a limited worldview. you can form companies in any of those places regardless of your citizenship or even residency, you can start companies in the US regardless of your citizenship or residency, you can get access to the speculative fury and cheap capital on Wall Street without you or your company being domiciled in the US. All combinations are possible and you need all combinations to make that magic happen. Choosing to do this with a US nexus for most purposes was intentional and helped this outcome. For an example of this combination. Baidu is a chinese search engine and advertising platform. It is incorporated in the Cayman Islands, its board members and management are several US citizens living in the US, several are Chinese. Its primary operations are in China with several subsidiaries in other countries. The shares are repackaged as foreign depository receipts to trade on the US Nasdaq. And also trades on a Hong Kong exchange as of 2021. You only limit yourself with this kind of nationalism. The chosen regulatory environment does affect the potential size of the business. Its a choice for the company, and the management. A low growth French or German company chooses to stay in France or Germany.
- sumedh 4y agoUS has lot of advantages, a huge single market, strong currency, startup culture, low corruption, almost good justice system.
- bee_rider 4y agoWorld's biggest moat and a general lack of big, angry neighbors.
- checkyoursudo 4y agoI see you've never met a Canadian. (sorry! sorry, as someone from MN, I'm sorry Canada! don't hurt me)
- lostlogin 4y agoDoes it help the average American that they are a US company? Big companies lobby and push hard politically, and they aren’t usually pushing for the best interests of Jane and Jo Average.
- RC_ITR 4y agoSure, but Apple books revenue gross and a lot of it is from components they buy from other people in other countries, which would be excluded from a GDP calculation. An extreme similar example of this is Mckesson [0], which does $260bn of revenue a year (mostly buying pills from pharma companies and re-selling them to pharmacies) but only $11bn of gross profit, since they spend $250bn/year just buying those pills. [0]https://www.mckesson.com/About-McKesson/Newsroom/Press-Releases/2022/McKesson-Reports-Fiscal-2022-Fourth-Quarter-Results/ https://www.mckesson.com/About-McKesson/Newsroom/Press-Relea...
- dillondoyle 4y ago'only' for a middleman, who doesn't even do the bare minimum job of saying: hey, we're shipping more opiate pills to this zip code every month than there are people x 100
- RC_ITR 4y agoOf all the links in the chain for the Opiate Crisis, you're going to blame the distributor of the pills? I get it, hindsight in 20/20 etc., but those pills were prescribed by highly-trained doctors and fulfilled by highly-trained pharmacists who thought they were doing the right thing and you expect some non-M.D. to have the foresight and understanding to say 'Sure, CVS is ordering this amount from us because they have this many pharmacist-approved scripts (keep in mind, this is one of thousands of items CVS is ordering), but I think something is fishy.' It just seems like that expectation diffuses blame from the actual villains here (the pharma companies that specifically worked to manipulate pharmacists and doctors into writing/approving those scripts).
- dillondoyle 4y agothere were HUGE amounts of MDs purposefully not doing the right thing and running pill mills. And yeah, distributors for sure have experts and resources to hire experts. And they were repeatedly warned/directed to stop the insane volume. They knew of this. They weren't ignorant, even on purpose. The opiate lobbyists slyly got the law changed so the DEA couldn't enforce with stop notices. IIRC In Gibney's documentary they interviewed some of the Congresspeople who voted for it and they thought the bill did the opposite. pharmacists also had the right to refuse and some did! but Purdue often intervened and pressured them to fill the scripts. I think that was shown either in gibney or maybe the great hulu purdue miniseries? wapo "THE DRUG INDUSTRY’S TRIUMPH OVER THE DEA" https://archive.ph/VYOeM https://archive.ph/VYOeM
- dangoor 4y agoApple appears to be #7 by revenue: https://en.wikipedia.org/wiki/List_of_largest_companies_by_revenue https://en.wikipedia.org/wiki/List_of_largest_companies_by_r...
- umeshunni 4y agoFunny - everyone above them in that list is either a retailer (so the revenue is passthrough) or a state owned monopoly.
- zeroonetwothree 4y agoApple is partially a retailer as well though.
- neel8986 4y agoThere are other companies including Walmart or Amazon having larger revenue. But what truly exceptional is Apple's net income. Trailing 1 year is almost 100B !! Only Saudi Armaco can touch that
- yieldcrv 4y agoIts fascinating to watch US corporate sector catch up to state sponsored or partially nationalized entities. Like wow, what a powerhouse. Taking hundreds of years of the corporation concept to do it, but make a country whose culture is only that and its working in that regard.
- smoldesu 4y agoApple, Google and Microsoft are all arguably partially-nationalized entities. They aren't literally owned by the government, but our government does wield it's unfathomable economic power to push US-based tech companies to every corner of the globe. It's a sad, perverted form of imperialism, but I consider it partial-nationalization none the less.
- lotsofpulp 4y agoCan you give an example of how the US government has made other countries use products from those 3 businesses?
- makeitdouble 4y agoThat's more subtle than that, and probably closer to how French treat their wine business for instance. An example of gov intervention: banning Huawei as it was rising as a global phone maker, international tarriff negociation (the whole stupid tarriff war happened as China was rising as high end device exporter), protecting Apple's business when challenged on anti-trust grounds (Apple's open stance to the judge was "we need extortion to make money, let us keep brinig money in"). In doubt, look back at these photos of Tim Cook cringing next to Trump because he can't just say no.
- spaceman_2020 4y agoTheir numbers seem utterly unreal to me. How on earth do you sell $205 billion worth of just a single product (iPhone) every year? This is simply the greatest business to have ever been created. I can't imagine anything else ever topping it. The margins AND the volume are both insane.
- capableweb 4y agoI don't know if the number comes anywhere near the truth, but if for the sake of the idea imagine that the average iPhone costs $750 USD then $205 billion USD worth of iPhones is around 273,000,000 units. That means there is about 750,000 iPhones sold every day, or 31,250 iPhones sold every hour.
- stereoradonc 4y agoUpvoted only for your mathematical skills :-)
- pclmulqdq 4y agoWhich is around 8-9 iPhones per second.
- asiachick 4y agoImagine the environmental impact 31250 phones a hour must cause. All the material that went into them had to be mined, transported, smelted, carried to a factory, assembled, then sent to 1000s of locations by 1000s of vehicles. Of course it's the same for all physical products.
- duped 4y agoAlmost every adult in the developed world needs a smart phone. They replace these devices about every 2-3 years. Apple makes one of the best in class of these devices, and has successfully designed one such that it's hard to switch to a competitor (rather it's easier to stay in the ecosystem). They've convinced about a billion people on the planet that the iPhone is the best device for them, so if you split that into about 300 million re-ups into the ecosystem each year you're talking about where their revenue is. I say this as a happy iOS user. I replaced my phone of three years about a month ago. Took a day to get it through my carrier and it immediately restored from backup with minimal data loss, despite not having access to the old device. That ease of use and confidence I won't lose data is worth the premium.
- orky56 4y agoFirst one at their margins I imagine.
- acchow 4y agoApple designs the products it sells tho. Walmart is more like a curated marketplace... Can't really compare these streams of revenue.