Apple is largest company

Apple’s market value about to top world’s 5th largest economy

The milestone is coming just a year after the US tech giant breached the $2 trillion mark, after reaching a market cap of $1 trillion in 2018.

The company’s stock closed at $175.08 per share on Wednesday. Apple needs to reach $182.85 per share to hit the much-anticipated milestone.

Apple stock has soared nearly 30% in 2021 on top of an enormous growth of 80% last year. The company’s rivals, such as Microsoft, Amazon, Alphabet, and Tesla, have all gained between 10% and 70%.

“It’s a phenomenal achievement and highlights the incredible dominance of US tech firms,” Craig Erlam, senior market analyst at Oanda, told Bloomberg.

“And there’s so much still to come from Apple, which makes you wonder what milestone they’ll pass next and how big they can become,” the analyst added.

The California-based corporation briefly lost its title as the world’s most valuable private company to Microsoft earlier this year. The drop followed CEO Tim Cook’s comments on the pandemic-related supply chain burden and the current struggle to cope with global shortages of microchips and components to produce smartphones, laptops, and tablets.

For more stories on economy & finance visit RT’s business section

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Apple Statistics (2021)

Updated: October 29, 2021

Apple is one of the most influential and recognisable brands in the world, responsible for the rise of the smartphone with the iPhone. Valued at over $2 trillion in 2021, it is also the most valuable technology company in the world.

Originally known for desktop computers, Apple was one of the first companies to switch to the graphical user interface (GUI) and saw success with the first Macintosh. Steve Jobs, the founder and CEO, was one of technology’s first “rockstars”, able to sell hardware as more than a tool for work.

Jobs resigned from Apple in 1985 and the company saw a gradual decline over the 1990s, as it struggled to compete with Microsoft on software and Windows manufacturers on hardware sales.

In a last ditch effort to save the company, Apple acquired Jobs’ company NeXT and installed him as advisor and then CEO. He turned the company’s fortunes around, launching iTunes and iPod in 2001.

The iPhone saw Apple ascend to one of the most valuable companies in the world, with revenue increasing from $37.4 billion in 2008 to $65 billion in 2010.

The success of the iPhone enabled Apple to launch new product categories, such as the iPad. Apple envisioned the tablet as a bridge between the smartphone and laptop, with the capabilities to be both.

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As iPhone revenues have stagnated, Apple has looked for new ways to generate revenue from the iPhone. It launched Apple Watch in 2015, as an accessory to the iPhone which tracks various health and fitness metrics. AirPods were next, which paved the way for wireless headphones to become mainstream.

It has also built out its subscription services to include music and video streaming, video games, fitness and cloud storage. This segment alone generated $53 billion revenue in 2020, making it Apple’s second largest segment.

All eyes are on Apple’s next products, which may include a virtual reality headset and self-driving car. The past few product launches have been smaller in scope, like the HomePod and AirPod, and Apple fans are clamouring for the next iPhone.

Note: Apple’s financial year runs from September to September. What most consider Q3, is Apple’s Q4.

Apple key statistics

• Apple generated $365 billion revenue in 2020, 52% came from iPhone.
• Apple’s Services was the second largest division, responsible for 18% of sales
• 194 million iPhones, 71 million iPads and 20 million Mac and MacBook units were sold in 2020
• Apple’s home and wearables division grew 25% in 2021
• It sold 110 million AirPods and 43 million Apple Watches in 2020
• Apple Music has 72 million subscribers, Apple TV+ has over 40 million

Apple statistics

Since 2018, Apple has split its business into five segments: iPhone, iPad, Mac, Services and Wearable, Home and Accessories. The iPhone generates the majority of Apple’s revenue, but Services and Wearable, Home and Accessories have both seen increased priority in the past few years, as Apple tries to find new ways to prevent revenue stagnation.

Apple revenue

Apple revenue increased dramatically between 2009 to 2012, from $42.7 to $156.3 billion. During that period, Apple vastly increased its manufacturing volume through its partner Foxconn, which enabled global iPhone sales. It also saw the launch of the iPad, which added $19.1 billion revenue in the first year of sales.

Apple quarterly revenue ($bn)

Year	Revenue
2006	$19.1 billion
2007	$24.4 billion
2008	$37.4 billion
2009	$42.7 billion
2010	$65 billion
2011	$108 billion
2012	$156.3 billion
2013	$170.8 billion
2014	$182.6 billion
2015	$233.6 billion
2016	$215.4 billion
2017	$229 billion
2018	$265.4 billion
2019	$260.1 billion
2020	$274.3 billion
2021	$365.8 billion

Apple revenue by region

Apple has always been most successful in the US, its home country. While revenues have increased in all regions, Americas is responsible for 45 percent of all revenue generation and approximately 40 percent of that is from the United States alone.

2015	2016	2017	2018	2019	2020
Americas	93.8	86.6	96.6	112	116.9	124.5
Europe	50.3	49.8	36.8	62.4	60.2	68.6
China	58.7	48.5	51.6	51.9	43.6	40.3
Japan	15.7	16.9	15.3	21.7	21.5	21.4
Asia Pacific	15	13.6	44.1	17.4	17.8	19.6

Note: Values are $bn.

Apple revenue by product

iPhone continues to be the main revenue generator, but its percentage has decreased in the past five years. Apple’s other hardware, which includes Watch, AirPods, HomePod and Beats, has become a priority category for Apple, as a way to add more revenue to a single iPhone purchase. Services have also seen significant growth in the past five years.

iPhone statistics

iPhone is Apple’s most valuable product and has, since 2008, been its main source of revenue. Even though Apple has diversified its product line with Watch, AirPods and services, iPhone is still responsible for 50 percent of Apple’s revenue.

In the past two years, Apple has launched four models of iPhone. These are: iPhone, Mini, Pro and Max. All come with different price points and are aimed at targeting as many consumers as possible.

iPhone revenue

Apple saw double-digit year-on-year iPhone growth from 2008 to 2015, but revenue has stagnated since. Apple has added new models, such as the Mini, Pro and Max in the past two years, although that hasn’t drawn in more customers. More customers are also holding onto their phone for longer, with Apple providing software upgrades for longer than two years.

iPhone quarterly revenue ($bn)

Year	Revenue
2008	$1.8 billion
2009	$13 billion
2010	$25.1 billion
2011	$45.9 billion
2012	$78.6 billion
2013	$91.2 billion
2014	$101.9 billion
2015	$155 billion
2016	$136.8 billion
2017	$141.2 billion
2018	$166.2 billion
2019	$142.3 billion
2020	$137.7 billion
2021	$191.9 billion

iPhone sales

Similar to revenue, iPhone sales saw enormous growth between 2008-2015. Sales peaked at 2015, with a steady decline of 14 percent from 2015 to 2020. This decline is mostly due to increased competition in China by Xiaomi and Huawei.

Year	Sales
2008	11.6 million
2009	20.7 million
2010	39.9 million
2011	72.3 million
2012	125 million
2013	150.2 million
2014	169.2 million
2015	231.2 million
2016	211.8 million
2017	216.7 million
2018	217.7 million
2019	187.2 million
2020	196.9 million

Note: Apple stopped reporting iPhone sales in Q4 2018. All values afterwards are estimates

Source: Apple, Canalys, CNBC, Gartner, Strategy Analytics

iPhone sales by region

Sales of the iPhone have fallen each year since 2015 in China, from a high of 71.2 million in 2015 to 34.9 million in 2020. Apple has not been able to break into other fast-growing countries, such as Brazil, India, Mexico or Pakistan, due to the cost of their recent devices.

2015	2016	2017	2018	2019	2020
United States	70.3	62.9	69.3	74.8	65.7	73.3
Europe	33.9	34.6	36.8	38.2	36.3	37.3
China	71.2	58.3	51.6	44.8	31.4	34.9
Japan	15	14.6	15.3	14.9	14.8	14.7
Rest of World	38.8	40.2	44.1	46.1	39.6	41.2

Note: Values are millions.

Active iPhone units

Even though Apple device sales have stagnated in the past few years, it has added more active iPhone users every year. Apple has switched its focus to services and other long-term revenue sources, as customers keep their phones for longer.

Year	Active Units
2008	10 million
2009	25 million
2010	60 million
2011	115 million
2012	206 million
2013	329 million
2014	442 million
2015	569 million
2016	710 million
2017	814 million
2018	888 million
2019	948 million
2020	1042 million

Sources: Above Avalon, Apple, BMO Capital Markets

Active iPhone units (US)

Approximately one fifth of all active iPhone units are from the US, which is unsurprising given it is Apple’s largest market. However, at 202 million units, Apple will have to find new markets to add more active units.

Year	Active Units (US)
2008	8 million
2009	17 million
2010	24 million
2011	40 million
2012	51 million
2013	72 million
2014	88 million
2015	101 million
2016	140 million
2017	153 million
2018	169 million
2019	193 million
2020	202 million

Sources: Apple, CIRP

iPad statistics

Hotly anticipated after the success of the iPhone, the iPad made an immediate mark, adding $19 billion to Apple’s revenue in the first year. iPad sales peaked in 2013, with the launch of the iPad Mini enticing 97 million customers.

iPad revenue

Revenue for iPad has remained in the $20 to $30 billion revenue range since launch, but this peaked in 2013 with the launch of the iPad Mini. Since then, Apple has struggled to entice new customers and iPad owners typically hold onto their device for more than three years.

iPad quarterly revenue ($bn)

Year	Revenue
2011	$19.1 billion
2012	$30.9 billion
2013	$31.9 billion
2014	$30.2 billion
2015	$23.2 billion
2016	$20.6 billion
2017	$19.2 billion
2018	$18.6 billion
2019	$21.2 billion
2020	$23.7 billion
2021	$31.8 billion

iPad sales

Apple saw an impressive 57 percent increase in iPad sales last year, primarily due to the coronavirus pandemic. This was not enough to reach the 2013 peak, however it reverses four years of sales in the 43-45 million range.

Year	Sales
2011	32.3 million
2012	58.1 million
2013	97 million
2014	67.9 million
2015	53.8 million
2016	45.5 million
2017	43.7 million
2018	43.5 million
2019	45.2 million
2020	71.1 million

Note: Apple stopped reporting iPad sales in Q4 2018. All values afterwards are estimates

Sources: Apple, Canalys, Strategy Analytics

Wearable, Home and Accessories statistics

Apple does not break out its other categories, making it difficult to determine how much revenue each product is generating. However, we know Watch, AirPods and Beats are the three key products in this segment.

Wearable, Home and Accessories revenue

Apple has seen 243 percent growth in this segment since it bundled together all of its other hardware segments. We estimate that AirPods is a $10 billion business on its own, with Apple Watch also potentially contributing between $12 to $14 billion a year.

Wearable, Home and Accessories quarterly revenue ($bn)

Year	Revenue
2015	$9.8 billion
2016	$10.9 billion
2017	$12.7 billion
2018	$17.3 billion
2019	$24.4 billion
2020	$30.6 billion
2019	$38.3 billion

Apple Watch sales

Since it launched in 2015, Apple Watch has led the smartwatch market with over 50 percent market share in 2020. There has been double digit growth since 2017. According to Strategy Analytics, Apple Watch saw a 40 percent increase in sales between 2019 and 2020.

Year	Sales
2015	8.3 million
2016	11.9 million
2017	12.8 million
2018	22.5 million
2019	30.7 million
2020	43.1 million

Sources: Canalys, Strategy Analytics

AirPods sales

AirPods have become a significant business for Apple, with over 100 million sales in 2020. What were panned by many as pricey accessories have become mainstream, with almost every phone manufacturer offering their own ‘hearable’ to compete with Apple.

Year	Sales
2017	15 million
2018	35 million
2019	60 million
2020	114 million

Sources: Counterpoint Research, TF International Securities, Strategy Analytics

HomePod sales

In comparison to AirPods, HomePod has seen limited success. Apple sits far behind Amazon and Google in units sold, although the launch of the HomePod Mini has made some inroads, responsible for most of the 4.6 million units sold in Q4 2020.

Year	Sales
2018	4.2 million
2019	5.9 million
2020	9.8 million

Source: Strategy Analytics

Apple TV active devices (US)

Apple has been rather inactive in the smart TV market as well, of which Roku and Amazon control the majority of sales in the US and Europe. Apple has added more active devices every year in the US, but are around 50 million units behind Roku.

Year	Active devices (US)
2015	17.3 million
2016	20.1 million
2017	22.4 million
2018	24.6 million
2019	25.9 million
2020	28.3 million

Source: Strategy Analytics

Mac statistics

Even with Apple’s shift in priorities from PC to mobile, Mac has remained a core part of the company’s product portfolio. PC sales have been flat or in decline for the past decade, but Apple has added more revenue and sales almost every year since 2009.

Mac revenue

Throughout the decade, Apple has kept a core set of products: MacBook Air, MacBook Pro, Mac Pro and iMac. While there have been iterations and new models, this core has remained popular across a broad spectrum of professional customers.

Mac quarterly revenue ($bn)

Year	Revenue
2009	$13.6 billion
2010	$17.2 billion
2011	$21.6 billion
2012	$23 billion
2013	$21.3 billion
2014	$23.9 billion
2015	$25.3 billion
2016	$22.7 billion
2017	$25.6 billion
2018	$25.2 billion
2019	$24.7 billion
2020	$28.4 billion
2019	$35.1 billion

Mac sales

Even though the PC market saw higher sales in 2020, for the past decade it has been in gradual decline. This is not the case for Apple, which has improved sales almost every year since 2009 and increasing its overall marketshare.

Year	Sales
2009	10.3 million
2010	13.4 million
2011	16.5 million
2012	18 million
2013	16.1 million
2014	18.8 million
2015	20.4 million
2016	18.3 million
2017	18.9 million
2018	18 million
2019	17.5 million
2020	20.2 million

Note: Apple stopped reporting Mac sales in Q4 2018. All values afterwards are estimates

Sources: Apple, Gartner

Apple Services statistics

An increasingly important part of Apple, as it continues to add more subscriptions and services to its iOS platform. With iPhone and iPad sales not likely to see much significant movement, Apple sees services as a way to continue growing.

It should be noted that Apple rarely publicises usage or subscribers for certain apps, like iCloud, iMessage, FaceTime and Health, which is why we have not included them in this data report.

Apple services revenue

In comparison to iPhone, iPad and Mac, Apple’s services revenue has increased year-on-year. Some analysts see it as the most important segment of the company, potentially reaching $50 billion in profit by 2025.

Apple services quarterly revenue ($bn)

Year	Revenue
2013	$15.8 billion
2014	$17.8 billion
2015	$19.6 billion
2016	$24.1 billion
2017	$29.8 billion
2018	$36.9 billion
2019	$46.1 billion
2020	$53.6 billion
2019	$68.4 billion

Subscribers to Apple services (total)

Apple has saw the number of subscribers to its services increase dramatically over the past six years. This stat includes subscriptions to iCloud, Apple Music, Apple TV+, Apple Arcade, Apple News+, Apple Fitness+.

Year	Subscriptions (total)
2015	30 million
2016	95 million
2017	200 million
2018	325 million
2019	480 million
2020	620 million

Apple Pay active users

Even though Apple Pay comes pre-installed on all iPhones, users can still choose to not set up the contactless payment solution. About half of all iPhone users actively use Apple Pay, according to Loup Ventures.

Year	Active users
2017	337 million
2018	389 million
2019	441 million
2020	507 million

Source: Loup Ventures

Apple Pay transaction volume

Apple Pay transaction volume more than doubled between 2018 and 2019, as more customers became comfortable using their phone to pay for things. While Apple has not revealed transaction volume for 2020, we suspect it will be lower than 2019 due to COVID-19.

Year	Transactions
2016	0.9 billion
2017	1.8 billion
2018	6.6 billion
2019	15 billion

Apple Music subscribers

Apple Music is the second largest music streaming service in the West, far behind Spotify’s 150 million users and not far behind Amazon Music’s 55 million. The majority of subscribers are from the US, which is one of the few countries Apple is ahead of Spotify.

Year	Subscribers
2015	11 million
2016	20 million
2017	27 million
2018	40 million
2019	50 million
2020	72 million

Apple TV+ subscribers

Apple invested $6 billion into TV+ in 2019, a huge gamble in a market with Netflix, Amazon and Disney all competing for eyeballs. It also offers a year of TV+ to iPhone and iPad buyers for free, which means most subscribers are still on free trial.

Year	Subscribers
Nov 2019	5.7 million
May 2020	10 million
Nov 2020	33.6 million
May 2021	40 million

Note: May 2021 is projected

Sources: Bloomberg, Statista

Apple News users

Apple’s news aggregation service may not responsible for much revenue generation – for Apple or news providers – but it has added more readers every year since launch. It is still behind Flipboard, with 145 million MAUs, but may surpass it by 2022.

Apple News+ added 200,000 subscribers in the first 48 hours, but has not made any significant strides since launch.

Year	Users
2017	70 million
2018	85 million
2019	100 million
2020	125 million

Siri active users

Apple’s Siri has been the unfortunate brunt of many jokes about artificial intelligence and smart assistants, however hundreds of millions of iPhone users actively use the application.

Year	Active users
2015	265 million
2016	320 million
2017	375 million
2018	500 million
2019	585 million
2020	660 million

Note: Apple has used the terms ‘active users’ and ‘active devices’, so we are unsure which is correct. It may be that many of the ‘active’ users have only enabled Siri on their device, but do not regularly use it.

Siri accuracy

Apple has improved the accuracy of its smart assistant year-on-year, according to Loup Ventures, which run yearly tests on all of the major mobile smart assistants. While still behind Google Assistant and Amazon Alexa, Siri is catching up.

Year	Accuracy (%)
2017	66
2018	78
2019	83
2020	87

Source: Loup Ventures

Apple Arcade subscribers

Apple’s mobile gaming subscription platform has seen some interest, however Apple has reportedly changed course and will not publish as many exclusive games as it planned. This may be perceived as Apple not meeting subscription targets after one year.

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