Apple Market Cap Now Bigger Than Indian GDP, Earns 1% Of Revenue From India
Apple Inc has now become the most valued company in the world as its market capitalization touched $3 trillion, which means that it has now crossed India's GDP which presently stands at USD $2.6 trillion. Apple India's revenue, on the other hand, is around $3 billion from actual sales, which is 1% of its $3 trillion market capitalization, a value that it briefly touched before coming down.
Apple India’s revenue, on the other hand, is approximately at $3 billion, which is less than 1% of its peak market capitalization.
Apple showed annual growth across all of its product categories in its fourth-quarter earnings, with revenue up 29% year-over-year. The iPhone is still the biggest sales driver, Apple’s services business grew 25.6% year-over-year and delivered more than $18 billion in revenue during the quarter.
Apple became the first publicly traded U.S. company to hit a $1 trillion market cap during intraday trading on Aug 2, 2018. It hit a $2 trillion valuation just over two years later on Aug 19, 2020. Apple stock rose 34% in 2021