Apple

Apple (NASDAQ:AAPL) is a global technology company focused on consumer electronics and is one of the Big Five tech firms (GAMAM). The company was founded in 1976 by Steve Jobs and is considered pivotal in popularizing personal computers in the late 1970s and 1980s (via Apple I, Apple II, and Macintosh computers). It is also known for pioneering the smartphone industry since 2007 (via the iPhone). Apple went public in September 1980 and reached USD 1 trillion market capitalization in August 2018—the first company to do so. It was ranked the largest listed company based on market capitalization until 2022 when it was overtaken by Saudi Aramco. Additionally, the company remains the largest tech company by revenue as of 2021.

Apple is best known for its flagship iPhone smartphone, which attracts a large global consumer base (estimated to be over 1 billion as of 2020). The company’s product platform extends to supplementary and supporting devices, including the iPad, Macbook, Apple Watch, and AirPods. Additionally, the company offers services ranging from its App Store for mobile applications (built for iPhones, iPads, and Macs) to digital content such as Apple TV as well as product insurance and aftersales support through its Apple Care service.

Apple is the largest smartphone maker in the US (~50% market share) and the second largest globally (18% market share). The Americas is the largest market from a geographic perspective, with over 42% of revenue in FY2023, followed by Europe (25%) and China (19%). The company continues to expand into new products and platforms, with its most recent entry being in the virtual reality space in June 2023. It also intends to further expand its presence in FinTech and health and wellness services that would primarily drive services revenue, along with the potential for hardware revenue growth of supporting devices.