Apple’s record income makes it richer than most countries

iPhone and money.

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Apple’s multi-billion dollar revenue is big enough to make it more valuable than most countries. Here’s how Apple compares to the financial stage of the entire world.

By almost any financial measure, Apple is a big deal. In January, it became the first company in the world to reach market capitalization 3 trillion dollarsbut while it’s down to $2.25 trillion as of October 9, that’s still a very impressive number.

It can be argued that Apple’s earnings have been impressive during its quarterly reports, as it frequently set new revenue records. Analysts may have mixed results that Apple narrowly beat expectations at times, but ordinary people still like that revenue is reported in the billions rather than the millions.

With Apple in the market and continuing to be successful, it is worth remembering that those billions that Apple brings in can be more than some countries can generate.

Apple’s financial statements put some countries to shame. And we don’t even include debts owed to Apple or the countries involved – which would push Apple even higher on the list.

Why Q3?

The numbers used are based on Apple’s most recent quarterly results, specifically Third quarter of 2022, announced in July. We will use quarterly numbers in our analysis rather than the other higher quarters for several good reasons.

For a start, they are already the latest numbers to work with. Apple has results coming in at the end of October, but these are what’s available at this time.

Second, the third-quarter results aren’t Apple’s best of the year. With sales seasonality high, third-quarter results are usually the lowest performing in the fiscal year, or a very close second.

The use of first-quarter results will be more impressive, as they are typically much higher than the third quarter. For example, the first quarter of 2022 saw Apple generate $123.9 billion in revenue, an increase of nearly 50% over the figures for the third quarter of 2021 and the third quarter of 2022.

Using the Q3 numbers shows how Apple could perform in its “off-season” results. If these numbers are impressive, one can only imagine how sky-high first-quarter results under the same analysis.

In some cases, we’ll use full-year data for comparison, which we’ll calculate from the fourth quarter of 2021 to the third quarter of 2022.

Revenue at the state level

To determine the size of Apple’s revenue, we will use the money of the International Monetary Fund Gross Domestic Production (Gross Domestic Product) Figures covering the year 2021. GDP measures the size of a country’s economy, including the market value of goods and services produced and sold.

IMF figures are based on annual GDP measured in billions of US dollars, and can be downloaded from the Datamapper service.

In the third quarter of 2022, Apple recorded revenue of $82.959 billion in the period. If counted as a country, Apple’s quarterly figure would be 70th, behind $83.6 billion in Oman and ahead of $82.5 billion in Sri Lanka.

Of course, this is a quarterly comparison, so a full year comparison is also needed.

Apple's quarterly revenue and net profit.

Apple’s quarterly revenue and net profit.

In the last four quarters, Apple reported revenue of $387.5 billion. On the IMF’s GDP list, Apple will qualify for 39th place, outperforming Malaysia ($372.7 billion) and behind the Philippines ($393.6 billion) and Denmark ($395.7 billion).

In theory, Apple is not far from dropping a few big names on the list, including Egypt (ranked 35th, $402.8 billion) and UAE (ranked 34th, $409.9 billion). However, it is miles away from worrying the largest economies.

The lowest GDP of $1 trillion on the list is the Netherlands (18th, $1018.7 billion), while you have to beat South Korea of ​​$1798.5 billion to take 10th place.

Continuing the topic at the country level, Apple’s third-quarter gross margin of $35.9 billion would put it in 99th place ahead of Sudan ($35.151 billion) and behind Estonia (98, $36.3 billion). Annual gross profit margin of $167.9 billion between Algeria (ranked 58th, 164.6 billion) and Qatar (ranked 57th, $179.6 billion).

The quarter’s net profit of $19.4 billion would be ahead of Mali’s 117 ($19.2 billion) and behind Brunei’s 116 ($19.9 billion). Annually, it will win $99.6 billion over Ethiopia (ranked 65, $99.3 billion) and the rest behind Ecuador (ranked 64, $106.2 billion).

Apple's quarterly research and development costs.

Apple’s quarterly research and development costs.

Apple’s spending on research and development gradually inflated, and in the second quarter of 2022 it reached $ 6.8 billion. This is enough to win 152nd place on Montenegro ($5.8 billion).

Over the past four quarters, Apple has spent $25.2 billion on research and development, which is more than Bosnia and Herzegovina’s GDP (111th, $22.4 billion) and not far behind 110th Iceland ($25.5 billion).

iPhone alone is bigger than Bolivia

On a product-by-product basis, the Iphone It’s still the largest contributor to Apple’s bottom line, but others are still seeing significant growth. There are often comments during the results that each arm can be a huge scale company in its own right.

In the third quarter, Apple reported $40.665 billion in iPhone revenue, placing it between Bolivia ($94,39.8 billion) and Uganda (93,42.5 billion). Fourth-quarter total sales of $201.7 billion put the iPhone in the same region as Iraq (53rd place, $209.5 billion) and 2021 Ukraine (54th place, $198.3 billion).

The steady growth of the services sector reached $19.6 billion in the third quarter, which is again between Brunei and Mali. Fourth-quarter total profit is $77.2 billion between Bulgaria (71st, $80.3 billion) and Ghana (72nd, $76.4 billion)

Apple unit revenue per quarter.

Apple unit revenue per quarter.

Wearables, home, and accessories commanded $8.08 billion in the third quarter, sandwiched between Togo (150th, $8.4 billion) and Guyana (151st, $7.6 billion). Over the four quarters, the $40.4 billion profit equates to more than Bolivia and directly behind Uganda once again.

Both IPAD And the Mac It managed similar revenues for the third quarter of $7.22 billion and $7.38 billion, which is just behind Somalia (151st place, $7.39 billion). For four quarters, the $30.4 billion iPad has outperformed the Macau SAR (103rd, $29.9 billion), while the $37.8 billion Mac has outperformed Estonia (98th, $36.3 billion) but not quite over Paraguay (ranked). 97, $38.3 billion).

Apple as a person

Although Apple can treat countries with its finances, it can also claim quite a few scalps when pitted against billionaires. Apple CEO Tim Cook I managed to reach 1513 places in Forbes The richest people in the world existing $2 billion, but Apple itself can go much further.

At $82.96 billion, Apple’s third quarter would be outside the top ten, beating out twelfth-placed Michael Bloomberg ($82 billion). The last four quarters combined at $387.5 billion would trump Elon Musk’s $219 billion combined fortunes, and nearly beat Musk’s combined $390 billion and second place Jeff Bezos fortunes ($171 billion).

Apple’s third-quarter gross margin came in at 37th place behind Giovanni Ferrero at $36.2 billion, with Apple’s fourth-quarter gross profit coming in third, between Bezos and Bernard Arnault & Family ($158 billion), and above both Bill Gates (4th, $129 B) and Warren Buffet for Apple Investments (V, $118 billion).

Apple’s third-quarter net profit will be 84, surpassing $19 billion from Reinhold Wuerth and family. The four-quarter version would put Apple between Larry Ellison (8th, $106 billion) and Steve Ballmer (ninth, $91.4 billion).

And of course, that’s a quarter or four quarters of Apple’s wealth generation versus the net worth of the people involved. A true comparison of net worth could easily be in favor of a trillion-dollar company.

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