How Apple subdivisions compare against Fortune 500 companies
Apple CEO Tim Cook on Tuesday revealed the company's wearables business -- AirPods, Apple Watch and Beats -- is now the size of a Fortune 500 company, while services revenue is on the verge of breaking into Fortune 100 territory. AppleInsider takes a closer look at the comparisons.
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Comments
The other thing that blows me away is Apple's bonds. Just immense.
"The iPhone-maker has $148 billion of its record $257 billion cash pile invested in corporate debt alone, according to a company filing from Wednesday. That’s enough to buy all the assets in the world’s largest fixed-income mutual fund, the Vanguard Total Bond Market Index Fund, which has about $145 billion of assets including company, government and mortgage bonds."
https://www.bloomberg.com/news/articles/2017-05-04/apple-buys-more-company-debt-than-the-world-s-biggest-bond-funds
But if AI (or other such sites) believe that video is the future, then they should permit video posts as well. Imagine how much fun </s> that would be as the "get off my lawn" guys and the other trolls on this site spew their idiocies and venom. And if people are making them on their Apple computers, Pads and phones, we'll get to see how good/crappy the video quality actually is.
$28.8 billion is the number to get into the Fortune 100 and the revenue number that Apple Services is close to achieving. Apple's overall annual revenue in 2015 was a record $233.7 billion! It dropped in 2016 to $215.1 billion. For the first half of this fiscal, it's at $131.2 billion. California's State proposed budget for 2017-18 is about $124 billion according to a web analysis. New York State's fiscal 2018 budget is $153 billion. (I don't know how California's budget can be lower than New York State's).
Jobs became interim CEO in the Fall of '97. In 2000, Apple's annual revenue was under $8 billion. Jobs resigned as CEO in August of 2011 with revenues of $108 billion for that fiscal. For all the criticism of Tim Cook, he's doubled revenues in four years. While I agree with some of the criticism lodged against him in particular and Apple in general, one cannot argue with that level of success, which I believe is unprecedented. Although I suppose one can argue that since most of the revenue is from the iPhone, it would have happened anyway.
I think there's a fair chance that when Apple Services gets into the Fortune 100, which they said might happen this calendar year, Apple spins it off into a separate company because the market is apparently ignoring that value and is primarily focused on iPhone and iPad sales.
If Apple finds another killer product, whether that's a car or something for cars or what I believe their true long-term future is, which is in AI and consumer robots, Apple could become bigger than all but the top tier of countries in the world. That's both good and bad. I have to believe that Apple is working on something really big that we know nothing about, because they couldn't possibly need all that office space and employees in order to produce and sell 6 lines of computers, 3 iPad lines, the iPhone, the Apple Watch, Apple TV, the app and media stores and the retail stores. There has to be something else big going on (IMO).