Apple Profits 2015-2023

Apple generated nearly $97 billion in profits in 2023, compared to almost a hundred billion dollars in profits in 2022, $94.6 billion in 2021, and over $57 billion in 2020. Related to Apple Who Owns Apple As of 2024, major Apple shareholders comprised Warren Buffet's Berkshire Hathaway with 5.92% of the company's stock (valued at nearly $170 billion as of February 2024). Followed by other individual shareholders like Tim Cook, CEO of Apple, with about 3.3 million shares, and Artur Levinson, chairman of Apple, with over 4.5 million shares. Top institutional investors comprise The Vanguard Group with 8.27% ownership and BlackRock with 6.66% ownership. Apple Business Model Apple has a business model that is divided into products and services. Apple generated over $383 billion in revenues in 2023, of which over $200 billion came from iPhone sales, $29.36 billion came from Mac sales, $39.84 billion came from accessories and wearables (AirPods, Apple TV, Apple Watch, Beats products, HomePod, iPod touch, and accessories), $28.3 billion came from iPad sales, and $85.2 billion came from services. Apple Business Growth iPhone and Services sales represented the main revenue drivers in 2022. Within the service revenues, the fastest growing sub-segment was the advertising business Apple built on top of the App Store, followed by the Mac, Accessories & Wearables, and the iPad. Apple Distribution In 2023, most of Apple's sales (63%) came from indirect channels (comprising third-party cellular networks, wholesalers/retailers, and resellers). These channels are critical for sales amplification, scale, and subsidies (to enable the iPhone to be purchased by many people). In comparison, the direct channel represented 37% of the total revenues. Stores are critical for customer experience, enabling the service business and branding at scale. Apple Value Proposition Apple is a tech giant, and as such, it encompasses a set of value propositions that make Apple's brand recognized, among consumers. The three fundamental value propositions of Apple's brand leverage the "Think Different" motto; reliable tech devices for mass markets; and starting in 2019, Apple also started to emphasize more and more privacy to differentiate itself from other tech giants. How Much Is Apple Worth? By February 2024, Apple was worth nearly three trillion dollars. Apple generated over $200 billion from iPhone sales in 2023, which accounted for over 52% of its net sales—followed by services revenues at over $85.2 billion, wearables and accessories at over $39.84 billion, Mac sales at $29.36 billion, and iPad sales at over $28 billion. Apple Cash On Hand In 2023, Apple had $29.96 billion in cash, compared to $23.65 billion in 2022 and to almost $35 billion in 2021. Apple Employees Apple Revenue Per Employee Apple had 161,000 full-time employees as of 2023, generating $2.38 million per employee. Apple iPhone Sales In 2023, iPhone sales represented 52% of Apple's net sales, the same in 2022. Yet in 2023 revenue from the iPhone slightly slew down to over $200 billion in sales, compared to over $205 billion in iPhone sales in 2022, still a growth compared to almost $192 billion in iPhone sales in 2021. Apple Profits Apple generated nearly $97 billion in profits in 2023, compared to almost a hundred billion dollars in profits in 2022, $94.6 billion in 2021, and over $57 billion in 2020. Revenue Per Employee Apple Mission Statement Apple’s mission is “to bring the best user experience to its customers through its innovative hardware, software, and services.” And in a manifesto dated 2019 Tim Cook set the vision specified as “We believe that we are on the face of the earth to make great products and that’s not changing.” The Economics of The iPhone It costs Apple $501 to make an iPhone 14 Pro Max, and the company sells it at a base price of $1099. This makes Apple's base markup on the latest iPhone model at 119% Apple is the only tech company able to sell its tech products at such a premium, thanks to a combination of hardware, software, and marketplace. Tim Cook's Salary While Apple Tim Cook's salary has been $3 million since 2016, most of Tim Cook's compensation is performance-based. For instance, in 2023, while the salary of Tim Cook was $3 million, he had total compensation of over $63.2 million, which comprised stock awards and other incentives and bonuses. Tim Cook's Net Worth Tim Cook's net worth is primarily comprised of his Apple stocks. As of 2024, he owned 3,28 million shares of Apple worth over $600 million at the current rate. However, Tim Cook has sold part of his Apple stocks over the years for hundreds of millions of dollars, making him a billionaire. Smartphone Market Share US Read next: Apple Business Model Apple Distribution Strategy The Apple-NeXT Deal A Decade-Long Evolution Of Apple Sales By Products Who Owns Apple? Apple vs. Google Business Models

Apple Profits 2015-2023

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Gennaro Cuofano

Related to Apple

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Gennaro Cuofano

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