A Business Insider analysis from Thursday, November 3 puts Apple at $2.307 trillion (roughly Rs 195 lakh crore, for context), the same market value of Apple combined with Alphabet ($1.126 trillion), Amazon ($940 billion) and Meta ($240 billion). The move goes to show the level of disparity even among the world’s biggest tech companies and how diverse each one is with their business.
Apple and its market power
It is interesting to note that Apple has been able to buck the trend of falling valuations of tech firms. For example, Meta and Alphabet are majoring in digital ads and information technology services to grow their revenue. Amazon, meanwhile, relies on consumer spending to drive growth.
Both retail and digital advertising declined in the September quarter, as major global headwinds from macroeconomic concerns hit consumer and corporate spending. As a result, the tech behemoths who have built their businesses on the aforementioned factors have taken a clear toll.
Apple, on the other hand, covers different categories of products as well as services and sees September as a key quarter when its new iPhone launches. With strong sales this quarter, it’s usually an indication of strong demand for its devices. However, Apple’s growth worldwide is coming not just from iPhones, but more importantly, from its Mac lineup of laptops and desktop PCs.
A Strategy Analytics report on global PC shipments earlier this week found Apple to be the only brand among the world’s top seven PC vendors to post growth in its shipments. Apple talked about growing PC partnerships between companies, which helped it grow its business.