Enormous demand for the iPhone 13 has led to the fact that Apple has regained second place in the global smartphone market.
The Cupertino-based tech giant became the first company to be valued at $3 trillion the other day. Apple’s market capitalization, which surpassed $1 trillion in August 2018, doubled in 2020, and 16 months later managed to reach a new record, techradar.com notes.
The company still managed to sell a fair amount of gadgets and make good money
Despite the fact that Apple has faced a number of problems, such as delayed shipments, lack of chipsets, disruptions of partner companies and, consequently, supply restrictions, which cost the company $6 billion, the manufacturer still managed to sell a fair amount of gadgets and make good money.
Data for October 2021, published by research firm Canalys, showed that Apple’s share of the smartphone market was 15% (up from 12% year-on-year). By comparison, Xiaomi’s share remained unchanged at 14%, while perennial leader Samsung held a 23% share.
The U.S. company, which launched a slew of products — the iPhone 13, iPhone 13 Pro, new iPad Mini, Apple Watch Series 7 and third-generation AirPods — increased annual revenue by 29%. It reached $83.4 billion in the last quarter of the fiscal year.
“Although the new models hit the market fairly late, smartphone production was up 47% year-over-year, and iPad circulation growth was 21%,” the media notes. “Whether Apple will be able to keep the market capitalization of $3 trillion is not yet clear, so it is worth waiting for the report for the 4th quarter of 2021. It will be published in January.”
Apple cannot be officially recognized as the first public company with a valuation of $3 trillion
“Despite such high gains, Apple cannot be officially recognized as the first public company with a valuation of $3 trillion. TheVerge states that it requires market capitalization to be above that figure at the close of trading during the day (January 3, 2021). But in practice this was not the case because the value of the shares that day declined slightly closer to the evening,” the article says.
By the way, Apple is not the only company with such a huge turnover. Amazon, Alphabet (the parent company of Google), Microsoft and Tesla are also on the list of the best. Facebook’s parent company Meta surpassed a market capitalization of $1 trillion in June, but its valuation has fallen since then.