Fortune: Apple is the most profitable company in the world

Fortune: Apple is the most profitable company in the world
Thanks to the iPhone, Apple is already the most valuable company in the world. Based on its market capitalization (share price multiplied by shares outstanding), Apple is worth more than $784.5 billion. The company grossed $215 billion during its latest fiscal year, which placed it ninth in the world for that category. For the second fiscal quarter of 2017, the iPhone was responsible for 63% of Apple's revenue which shows you how important that product is to the success of the company.

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.


source: Fortune

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40 Comments

1. HillaryClinton2020

Posts: 191; Member since: Feb 08, 2017

GO APPLES!!

11. Bankz

Posts: 2543; Member since: Apr 08, 2016

Go baybay!!! Apple rulez.

13. SIGPRO

Posts: 2817; Member since: Oct 03, 2012

Only stupid people buy apple products!

17. darkkjedii

Posts: 31052; Member since: Feb 05, 2011

Only stupid people say stupid stuff like that.

25. Flash

Posts: 1972; Member since: May 19, 2017

Then you must buy a LOT of Apple products.

30. TechieXP1969

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!

33. Leo_MC

Posts: 7432; Member since: Dec 02, 2011

People need to buy that product.

2. xchatter

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. :)

20. ibend

Posts: 6747; Member since: Sep 30, 2014

"most profitable company" and "and most ripped-off customers" is just different side of the same coin.. no surprise here..

3. notfair

Posts: 742; Member since: Jan 30, 2017

and it's avoiding taxes as much as possible.

4. NoToFanboys

Posts: 3231; Member since: Oct 03, 2015

No sh*t, Sherlock.

5. M.O.A.B

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

6. Techlover2018

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!

7. notfair

Posts: 742; Member since: Jan 30, 2017

billions of people are dumb, billions....

8. mrochester

Posts: 999; Member since: Aug 17, 2014

That's why Android has such a huge number of users.

10. Xilam unregistered

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.

12. khanhbee90

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....

15. Omran2000

Posts: 101; Member since: Aug 18, 2016

Clueless comment ....

18. darkkjedii

Posts: 31052; Member since: Feb 05, 2011

Defeat them how, by opening up some games faster?

26. Flash

Posts: 1972; Member since: May 19, 2017

Midrange hardware that runs better than a lot of high-end Android phones.

36. Crispin_Gatieza

Posts: 3137; Member since: Jan 23, 2014

That's the OS. Put iOS on a S8+ and I'm sure it'll be a much better experience.

37. Flash

Posts: 1972; Member since: May 19, 2017

That's an excuse.

9. Plasticsh1t

Posts: 3106; Member since: Sep 01, 2014

Dumb comments commence.

14. SIGPRO

Posts: 2817; Member since: Oct 03, 2012

Only dumb people buy apple products!

16. darkkjedii

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.

27. Flash

Posts: 1972; Member since: May 19, 2017

Samsung is far more greedy.

28. meanestgenius

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.

34. darkkjedii

Posts: 31052; Member since: Feb 05, 2011

LMAOOOOO! Well said MG.

39. Flash

Posts: 1972; Member since: May 19, 2017

Get a room you two.

40. Flash

Posts: 1972; Member since: May 19, 2017

And you're following behind like a sad little puppy dog. Grow a pair and stop being a suck up. Of course, they're not like blackberry who charges $550 for a midrange device.

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