Fortune: Apple is the most profitable company in the world
by Alan Friedman / Jul 21, 2017, 2:37 AM
What good is attracting all of this business if the company is not profitable? Apple surely doesn't have to worry about that right now. Last fiscal year, Apple made $45.7 billion, which means that it was the most profitable company in the world according to Fortune. Industrial and Commercial Bank of China finished second with $41.9 billion of black ink. The next three firms on the profitability list were Chinese firms followed by J.P. Morgan ($24.7 billion in profits), Berkshire Hathaway ($24.1 billion) and Wells Fargo ($21.9 billion). After Apple, the next tech firm turned out to be Google parent Alphabet with $19.5 billion in profits, followed by Samsung with $19.3 billion in profits. Those two firms were numbers nine and ten on the global list, respectively.
While we doubt that Apple CEO Tim Cook would admit to it, it might be in the back of his mind that Apple is close to becoming the first company to be worth one trillion dollars. For Apple to hit that magic number, it would have to rise about 28% from its current price of $150 to about $192. The hype over the upcoming 10th anniversary iPhone (AKA iPhone 8) might be enough to get Apple's shares to that level.
Posts: 191; Member since: Feb 08, 2017
posted on Jul 21, 2017, 2:55 AM 0
Posts: 2817; Member since: Oct 03, 2012
Only stupid people buy apple products!
posted on Jul 21, 2017, 5:38 AM 0
Posts: 14967; Member since: Sep 25, 2013
Dude really? Please don;t troll apple articles liek they troll Samsung articles. We don't have to stoop to their level. McDonald's is the most profitable fast food company in the world. Selling medium quality food for a price people are willing to pay. No harm no fowl. I only wished Apple used the money to bring better things to its products and stop selling overprice limited garbage. All this money and they don't even pass any discounts to customers or give them anything for their support. Corporations are suppose to make money. Just come up with a better product that you can make for $100 and sell it for $800 and you will be the most profitable too!
posted on Jul 21, 2017, 12:39 PM 0
Posts: 44; Member since: Mar 25, 2013
But of course they are. :) Sell 50cents apples for 10 bucks and you will be hell of a profitable person. :D You just need dumb enough people to buy. :)
posted on Jul 21, 2017, 3:02 AM 1
Posts: 319; Member since: Feb 13, 2015
if you sell a phone with mid range hardware (except for the processor) and sell it with a premium price tag of course you'll have the most profitable company in the world
posted on Jul 21, 2017, 3:10 AM 0
Posts: 80; Member since: Jul 14, 2017
And why people will buy that product ,if its not worth. No, hundreds of million of people can't be dumb.But a few commenters could be!
posted on Jul 21, 2017, 3:31 AM 1
Some don't care what hardware is inside - it might as well be empty with a potato inside - as long as experience using a device that runs on Potato power is better for them than the experience on a device that has microprocessors and battery - then it's worth it. Some need sharper screen, some need faster processor, some need better fingerprint sensor, some rather have a headphone jack. Some need a stylus, some rather have a forcetouch. You can't call someone stupid if they find more value in one feature than you do in another - you won't make any friends that way.
posted on Jul 21, 2017, 4:22 AM 1
Posts: 17; Member since: Sep 03, 2015
EXTREMELY OLD "mid-range hardware " (iPhone 6s) still defeat every top newest high-end hardware of 2017 Android flagships, hahahaha....
posted on Jul 21, 2017, 5:28 AM 0
Posts: 1972; Member since: May 19, 2017
Midrange hardware that runs better than a lot of high-end Android phones.
posted on Jul 21, 2017, 11:25 AM 0
Posts: 31052; Member since: Feb 05, 2011
Tell us something we don't know. Love Apple or hate em, but they know how to get money, and that's the bottom line. All these companies are greedy, Apple is just the best at it.
posted on Jul 21, 2017, 6:20 AM 1
Posts: 1972; Member since: May 19, 2017
Samsung is far more greedy.
posted on Jul 21, 2017, 11:26 AM 0
Posts: 22072; Member since: May 28, 2014
Than Apple? I doubt that. But they're all out to make the most money while spending the least at doing so. Apple just does that better than most other tech companies. But all you're really trying to do is goad darkk into flame war, while you show him no mercy, lol.
posted on Jul 21, 2017, 11:37 AM 2
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