Wynk Music, an app that has been available for streaming music for ten years, is being shut down by the Indian telecom giant Airtel.
In the next months, the company would reportedly shut down the app and integrate all of its staff into the Airtel ecosystem, as reported by a news agency.
As previously announced, Wynk Music will be discontinued and all staff will be integrated into the Airtel ecosystem, according to a spokesperson from the company.
Collaboration Between Apple and Airtel
This new move comes not long after the Jio competitor formed a partnership with Apple, the company that manufactures iPhones, to supply its consumers in India with unique discounts for Apple TV+ and Apple Music.
Customers of Airtel Xstream will be able to watch content from Apple TV+ through premium Airtel WiFi and Postpaid plans as a result of the agreement.
Additionally, those who are enrolled in Wynk Premium, the music streaming service offered by Airtel, will have access to special deals that are only available on Apple Music. According to a press release issued by the firm, these deals would be made accessible to Airtel customers on an exclusive basis in India later on in the year.
As stated by Oliver Schusser, Apple’s vice president of Apple Music, Apple TV+, Sports, and Beats, “We are thrilled that Airtel customers in India will soon be able to enjoy all of the incredible content that is available on Apple TV+ and Apple Music.”
As our collection of world-class films, television series, and music continues to expand, we are confident that there will be something that will appeal to each and every one of our customers. In addition, Schusser stated.
The Market Presence of Wynk Music
Wynk Music is an application that was introduced by Airtel in September 2014. It gives customers the ability to download music for offline listening, modify caller ringtones, listen to podcasts, and stream music in a variety of regional languages.
At the moment, it is expected that the app has more than one hundred million users as subscribers.
It has been reported that Wynk Music provides approximately 300 crores of rupees to the annual revenue of the parent firm.
In August 2022, Wynk Music presented Wynk Studio, an ecosystem for the dissemination of music that was designed for independent musicians residing in India and other countries.
The studio is a component of Airtel’s digital product portfolio, which includes Wynk, Airtel Xstream, Airtel Ads, and Airtel IQ, amongst others. It also provides musicians with the ability to launch their music and collaborates with them on various steps of music promotion.
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Warren Buffett, one of the world’s wealthiest individuals, makes his money and distributes his risk through Berkshire Hathaway, a holding company. The firm invests in a wide range of businesses. The most important are primary and reinsurance insurance operations, a freight rail transportation company, and a collection of utility and energy-producing and distribution companies.
GEICO, National Indemnity, and reinsurance behemoth General Re are among the company’s key insurance divisions. Marmon Group, McLane Company, MidAmerican Energy, and Shaw Industries are among the company’s other major assets.
Berkshire Hathaway Inc. became the first non-tech U.S. company to reach a market value of over $1 trillion on 28 August 2024.
Learn more about Berkshire Hathaway, its founders, growth, business model, funding, acquisitions, and revenue model from this article.
Berkshire Hathaway – Company Highlights
Startup Name
Berkshire Hathaway
Formerly
Valley Falls Company (1839–1929) and Berkshire Fine Spinning Associates (1929–1955)
Berkshire Hathaway Inc. is an American holding corporation with a growing number of subsidiaries involved in a variety of businesses. Berkshire Hathaway began in textiles and has since expanded into insurance, retailing, manufacturing, publishing, and finance. The company is led by Warren Buffett and his partner Charles Munger.
Charles Munger – Vice-chairman of Berkshire Hathaway
They have become known for their renowned investment portfolio, which has consistently outperformed the S&P 500 and other benchmark indexes. Berkshire Hathaway Inc. and its subsidiaries are involved in a variety of businesses, the most important of which is property, liability, and auto insurance, which they provide both directly (via GEICO) and through reinsurance (General Reinsurance Corporation).
Furniture stores Nebraska Furniture Mart, R.C. Willey Home Furnishings, Star Furniture, and Jordon’s Furniture; fine jewelry stores Borsheim’s, Helzberg Diamond Shops, and Ben Bridge Jeweler; and footwear stores H.H. Brown, Dexter, and Justin Brands are among the company’s noninsurance businesses.
Other Berkshire enterprises include publishing, manufacturing, and interior design supplies. Berkshire Hathaway frequently purchases substantial shares of other publicly listed firms through its insurance subsidiaries. Warren Buffett, the company’s chairman, is known for his ability to choose stocks with hidden appeal and long-term potential.
Warren Buffett’s investing business, Berkshire Hathaway, is mostly owned and controlled by him. It was named after a textile factory that opened in 1839, was purchased by Warren Buffett in 1964, and shuttered in 1985.
Berkshire Hathaway Logo
The term Berkshire Hathaway appears in dark blue on the Berkshire Hathaway logo. The vintage typeface and neutral hues provide a feeling of trustworthiness and common sense.
Berkshire Hathaway – Founders and Team
Berkshire Hathaway was founded by Oliver Chace in 1839.
Oliver Chace
Oliver Chace
Oliver Chace was a merchant in the United States throughout the 18th and 19th centuries. In the early nineteenth century, he founded various New England textile manufacturing enterprises, notably the Valley Falls Company, which was the forerunner of Berkshire Hathaway, which is now one of the world’s largest and most valuable companies.
When last reported in 2023, Berkshire Hathaway boasted of an employee strength of 396,500 employees.
Berkshire Hathaway – Startup Story
Berkshire Hathaway began as two different Massachusetts cotton factories in the 19th century: Berkshire Fine Spinning Associates and Hathaway Manufacturing. Berkshire Hathaway was formed in 1955 when the two corporations amalgamated. Warren Buffett and his investment group bought the faltering corporation in 1965 and took full control. Under his leadership and guidance, Berkshire Hathaway grew to become one of the world’s largest holding firms.
Berkshire Hathaway was formally transformed into a conglomerate by Buffett’s purchase of National Indemnity, the first of many insurance purchases for the business while separating itself from the textile sector by disposing of those assets. Three other insurance firms, as well as those in the banking, apparel, entertainment, food and beverage, utilities, furniture, home products, media, and materials and construction industries, were added to the company’s holdings.
Some of the firm’s very well-known subsidiaries include:
GEICO
Dairy Queen
Fruit of the Loom
Benjamin Moore
Duracell2
Pilot Travel Centers4
Berkshire Hathaway – Mission and Vision Statement
Berkshire Hathaway’s vision statement says, “To be the provider of choice in our communities for comprehensive real estate and financial solutions.”
Berkshire Hathaway – Employees
Amanda Smith – Chief Sustainability Officer
Antonio Cism – Chief Security Officer
Helen Paulla – Chairman
Michael Jones – Vice President and Chief Financial Officer
Thom Lachman – Chief Executive Officer (Duracell)
Carol Stefanik – Vice President
Cloud Xu – EVP of Investment Protocol
Berkshire Hathaway – Business Model and Revenue Model
Berkshire Hathaway is a conglomerate that owns companies in the insurance, rail transportation, energy generation, distribution, manufacturing, and retail industries.
Insurance is the major source of revenue but manufacturing generates most earnings before taxes.
GEICO is a private passenger vehicle insurance company
Berkshire Hathaway Primary Group specializes in property and liability insurance for business clients, whereas
Berkshire Hathaway Reinsurance specializes in excess-of-loss, quota-share, and facultative reinsurance (also includes investment income)
BNSF Railway
BNSF Railway Logo
Berkshire Hathaway’s freight rail transportation division manages one of North America’s major networks. BNSF Railway transports consumer, industrial, and agricultural goods as well as coal.
Berkshire Hathaway Energy
Berkshire Hathaway Energy Logo
Berkshire Hathaway Energy is a worldwide energy corporation that generates, transmits, stores distributes and supplies energy through its subsidiaries.
Berkshire Hathaway Manufacturing
Industrial products, construction products, and consumer items are the three types of manufacturing firms in Berkshire.
McLane Company
McLane Logo
McLane is a wholesale distributor that supplies convenience shops, discount retailers, wholesale clubs, pharmacies, and other companies. Grocery distribution, food service distribution, and beverage distribution are the three divisions.
Service, and Retailing
Grocery and food service distribution, professional aviation training, fractional aircraft ownership, and electronic component distribution are among the service firms.
Gains and Losses from Investments and Derivatives
Berkshire Hathaway also holds a sizable equities and derivatives portfolio. Apple Inc. (AAPL), Bank of America Corp. (BAC), and Coca-Cola Co. are among the company’s top equity holdings.
Berkshire Hathaway – Funding, and Investors
Berkshire Hathaway has secured $1.3 billion in 3 rounds of fundraising. Their latest funding was raised on 14 April 2023, from a post-IPO debt round.
Announced Date
Transaction Name
Number of Investors
Money Raised
Lead Investors
April 14, 2023
Post-IPO Debt
–
$1.2 billion
–
September 27, 2022
Post-IPO Equity
1
$68 million
Gregory E. Abel
August 15, 2019
Post-IPO Equity
1
$3.5 million
Pershing Square Capital Management
Berkshire Hathaway – Investments
Berkshire Hathaway has invested in 24 companies to date. The most recent investment was when Berkshire Hathway poured $6.7 billion in the May 15, 2024’s Post-Ipo Equity round of Chubb. Here’s a look into the recent investments of the company:
Date
Organization Name
Round
Amount
May 15, 2024
Chubb
Post-IPO Equity
$6.7 billion
August 14, 2023
Lennar Corporation
Post-IPO Equity
$17.2 million
May 15, 2023
Capital One
Post-IPO Equity
$954 million
September 30, 2022
Taiwan Semiconductor Manufacturing Company
Post-IPO Equity
$4.1 billion
September 29, 2022
Occidental Petroleum
Post-IPO Equity
$352 million
April 19, 2022
Snowflake
Post-IPO Equity
$621.5 million
April 6, 2022
HP
Post-IPO Equity
$4.2 billion
March 5, 2022
Occidental Petroleum
Post-IPO Equity
$5.1B
February 16, 2022
Nubank
Post-IPO Equity
$1B
Jun 8, 2021
Nubank
Series G
$750M
May 17, 2021
Aon
Post-IPO-Equity
$942.6M
Jul 28, 2020
Bank of America
Post-IPO-Equity
$400M
Jul 23, 2020
Bank of America
Post-IPO-Equity
$800M
Feb 18, 2020
Kroger
Post-IPO-Equity
$550M
Nov 17, 2019
Restoration Hardware
Post-IPO-Equity
$200M
Aug 27, 2018
One97
Funding Round
$300M
Feb 14, 2018
Teva Pharmaceutical Industries
Post-IPO-Equity
$358M
Oct 3, 2017
Pilot Flying J
Funding Round
–
Jun 26, 2017
STORE Capital
Post-IPO-Equity
$377M
Berkshire Hathaway – Acquisitions
Berkshire Hathaway has acquired 53 businesses. Some of the top acquisitions of Berkshire Hathaway are listed below.
Acquiree Name
About Acquiree
Date
Amount
Alleghany Corporation
Alleghany Corporation is an American investment holding company.
March 21, 2022
$11.6 billion
HomeServices of America
HomeServices is a residential real estate brokerage firm.
Jan 18, 2017
–
Medical Liability Mutual Insurance Co
Medical Liability Mutual Insurance Co is medical professional liability insurance.
Jul 18, 2016
–
Precision Castparts
Precision Castparts is a metal manufacturing company that specializes in proving aerostructures and airfoils.
Aug 10, 2015
$37.2B
Detlev Louis Motorradvertriebs
Detlev Louis Motorradvertriebs GmbH, a motorcycle apparel and accessories retailer in Germany.
Feb 20, 2015
$450M
Charter Brokerage
Charter Brokerage is a leading global trade services company providing complete customs, import, export, drawback, and related services
Dec 12, 2014
–
Duracell
Duracell is the market leader in the professional channel. Our products provide innovative solutions in many facets for businesses
Nov 13, 2014
$4.7B
Van Tuyl Group
Van Tuyl Group, Inc. provides management consulting services to the largest group of privately held automotive dealerships.
Oct 2, 2014
–
WPLG Local 10
WPLG Local 10 is a channel providing news, weather reports, entertainment, and sports news.
Jul 2, 2014
–
Oriental Trading Company
Oriental Trading Company is committed to outstanding customer service offering easy ordering, speedy delivery, and no-hassle return policies.
Nov 2012
–
Omaha World Herald
Breaking news, weather, analysis, and information from the Omaha World-Herald.
Dec 2011
–
Berkshire Hathaway – Growth
Berkshire Hathaway reached a $1 trillion market capitalization on 28th August 2024.
Berkshire Hathaway reported $364.48 billion in revenue for 2023, a 20.68 percent increase from 2022.
Berkshire Hathaway’s revenue for 2022 was $302.02 billion, a 9.35 percent increase from 2021.
Berkshire Hathaway’s revenue for the year ended September 30, 2021, was $268.677 billion, up 9 percent from the previous year.
Berkshire Hathaway’s yearly revenue in 2020 was $245.51 billion, down 3.58 percent from the previous year.
Berkshire Hathaway’s yearly revenue in 2019 was $254.616 billion, up 2.74 percent over the previous year.
Berkshire Hathaway’s yearly revenue in 2018 was $247.837 billion, up 3.29 percent from 2017.
Berkshire Hathaway – Online & Social Media Presence
Once while talking about the importance of the Internet business, the team got deeply into the discussion about the significance of the social media industry. After the discussion, one thing the team realized was that in order to promote business it was important to be active in social media. Educating and making aware of the agenda to the clients was the main work of the company then. Soon, Buffet joined all the social media platforms to increase and promote his empire as well as the business. His strategy was to perform professionally because everything he posted was quite integrated with the brand name. Today, he is a successful man!
Berkshire Hathaway – Competitors
Some of the major Berkshire Hathaway’s competitors are:
With massive government stimulus and ultra-low interest rates threatening to drive inflation higher, Berkshire may be too huge to invest extensively in industries that profit from higher consumer prices. Several Berkshire shareholders voiced dissatisfaction with Buffett’s failure to buy more stock at the start of the outbreak, a wasted opportunity that gave the S&P 500’s roughly 90% gain from last year’s low.
Berkshire’s capacity to create cash is further hampered by historically low interest rates, which the Federal Reserve has promised to keep near zero for years.
According to Buffett, Berkshire currently makes approximately $20 million per year on its more than $100 billion in Treasury bills, compared to around $1.5 billion before the epidemic.
Berkshire Hathaway – Future Plans
Berkshire Hathaway intends to maintain its focus on core businesses and uphold its long-term investment strategy. The operational business of the conglomerate is a patchwork of businesses focusing on the traditional backbone of the economy, such as railways, batteries, insurance, home furnishings, and retail. Berkshire Hathaway has lost out on the rapid growth observed in the Amazon of the globe over the years due to its old economy focus. However, the “Oracle of Omaha” has shown his willingness to diversify away from Berkshire’s traditional economy core to adapt to the new reality.
Berkshire’s exposure to technology stocks has increased to 45 percent of its portfolio as a result of its big holding in Apple. Its Apple stake, which it originally purchased in 2016, has grown to nearly $120 billion, making it the company’s largest stock position by far. Except for IBM, Berkshire’s top equities holdings ten years ago had relatively little tech exposure.
One of the most pressing concerns about Berkshire Hathaway’s future in recent years has been who would succeed Buffett as CEO. The answer has finally come from the Oracle of Omaha. Greg Abel, who manages the noninsurance companies will be the next CEO of Berkshire Hathway.
FAQs
Does Berkshire Hathaway own Apple?
Berkshire holds about 908 million Apple shares, which are valued at $151 billion.
What are the companies that Berkshire Hathaway owns?
The major companies owned by Berkshire Hathaway are GEICO, Duracell, Dairy Queen, BNSF, Lubrizol, Fruit of the Loom, Helzberg Diamonds, Long & Foster, FlightSafety International, Shaw Industries, Pampered Chef, Forest River, and NetJets.
Who owns most of Berkshire Hathaway?
The Vanguard Group owns most shares of Berkshire Hathaway.
Who founded Berkshire Hathaway?
Berkshire Hathaway was founded by Oliver Chace.
When was Berkshire Hathway founded?
Berkshire Hathaway was founded in 1839.
What sectors does Berkshire Hathaway own firms in?
Berkshire Hathaway is a conglomerate that owns companies in the insurance, rail transportation, energy generation, distribution, manufacturing, and retail industries.
Which companies does Berkshire Hathaway compete with?
BlackRock, Allstate, The Carlyle Group, Howard Hanna Real Estate Services, and Allegheny Technologies are among Berkshire Hathaway’s competitors.
What does Berkshire Hathaway do?
Berkshire Hathaway Inc. is an American holding corporation with a growing number of subsidiaries involved in a variety of businesses. Berkshire Hathaway began in textiles and has since expanded into insurance, retailing, manufacturing, publishing, and finance.
In the dynamic world of today’s global economy, an extraordinary group of companies has achieved a remarkable milestone: achieving trillion-dollar valuations. These exceptional companies stand at the forefront of success and influence, leaving an incredible impact on industries and economies around the globe. From groundbreaking technological innovators to game-changing industry disruptors, these companies serve as living proof of the limitless possibilities that business holds in the modern era.
In this article, we’ll explore the list of trillion-dollar companies in the world, exploring their incredible achievements.
A trillion-dollar company is a remarkable achievement in the business world. It refers to a company that has surpassed a market capitalization or valuation of $1 trillion. This milestone represents immense size, exceptional success, and significant influence within the global economy. Companies like Apple, Microsoft, Amazon, and Alphabet symbolize trillion-dollar entities that have achieved remarkable financial success, transformed industries, and impacted our daily lives. Being a trillion-dollar company signifies an extraordinary level of accomplishment and places these companies in a league of their own.
The Trillion-Dollar Companies Club
Which was the First Trillion-Dollar Company?
PetroChina was the first trillion-dollar company in the world. On its first day of trading on the Shanghai Stock Exchange on November 5, 2007, it reached a market capitalization of $1 trillion. However, the corporation only held the level for a short time.
The first trillion-dollar US company was Apple, which hit that level on August 4, 2018. Since then, other companies have joined the club: Amazon, Microsoft, Saudi Aramco, and Alphabet. Saudi Aramco is a notable exception on an otherwise primarily American-dominated leaderboard.
List of Trillion-Dollar Companies in the World
Below is the list of all the trillion-dollar companies in the world:
Apple surprised a few and became the first trillion-dollar company in the US. By 2018, it had already been listed among Fortune’s World’s Most Powerful 50 companies for several years running; but that didn’t last long as Apple sunk below $800 billion by 2019, thanks in part to the US stock market, which has plagued many American enterprises over that past year. However, the stock rose in 2019, and the company’s market capitalization reached $1.3 trillion in early December.
The company became the first one in the United States to reach a valuation of $2 trillion on August 19, 2020; on Jan. 3, 2022, Apple became the first U.S. company to reach $3 trillion. Apple’s market capitalization is higher than the GDP of entire countries like Italy, Canada, Australia, and Brazil.
Apple’s remarkable journey in the stock market highlights its resilience and ability to bounce back, setting unprecedented market milestones that have solidified its position as a global powerhouse.
How Apple, Microsoft, and Amazon Hit a $1 Trillion Valuation
NVIDIA
Company Name
NVIDIA Corp. (NVDA)
Headquarters
Santa Clara, California, United States
Founder
Jensen Huang, Chris Malachowsky, Curtis Priem
Founded
1993
NVIDIA – Trillion-Dollar Companies in the World
NVIDIA, a popular technology giant renowned for its advanced graphical processor units (GPUs), has accomplished an extraordinary feat by entering the exclusive trillion-dollar club on May 30, 2023.
With a strong dedication to its AI-driven business, NVIDIA has witnessed consistent growth in recent years. The surge of interest and investments in the AI sector within the past six months has further boosted NVIDIA’s success, increasing its sales to unprecedented heights and playing a pivotal role in achieving its trillion-dollar valuation. NVIDIA’s market cap has seen fluctuations since it entered the trillion-dollar club, but it continues to remain a strong player in the market.
Microsoft
Company Name
Microsoft Corp. (MSFT)
Headquarters
Redmond, Washington, United States
Founder
Bill Gates, Paul Allen
Founded
1975
Microsoft – Trillion-Dollar Companies in the World
In April 2019, Microsoft became a trillion-dollar company, reaching the mark of $1 trillion in valuation. This significant milestone solidified Microsoft’s position as one of the most valuable and influential technology companies in the world.
During the last half of 2020, Microsoft became one of only three companies in the trillion-dollar club. Much like its competitors, Amazon and Apple, who also saw great success with their cloud computing services, Azure helped fuel much faster growth rates for them as well.
Alphabet, the parent company of Google, is another prominent name on the list of trillion-dollar companies in the world. It became the fourth US tech company to reach the $1 trillion club in January 2020. Shortly after, Amazon regained its one trillion-dollar market cap — the first time that four US tech stocks had reached that level at the same time.
Alphabet’s journey to trillion-dollar status reflects its unrivaled dominance in the digital landscape, driven by its innovative technologies, diverse portfolio, and extensive global reach. With Google’s search engine at its core, Alphabet continues to redefine industries, leverage emerging technologies, and shape the future of information and connectivity.
Saudi Aramco
Company Name
Saudi Arabian Oil Company (Saudi Aramco or Aramco, 2222.SR)
Headquarters
Dhahran, Saudi Arabia
Founder
NA
Founded
1933
Saudi Aramco – Trillion-Dollar Companies in the World
Aramco’s foundation dates back to 1933 when the government of Saudi Arabia and the Standard Oil Company of California (SOCAL) signed a concession agreement.
Saudi Aramco broke two records on its first day of trading in December 2019; the company hit the trillion-dollar mark on its very first day of trading, making it the biggest IPO in history. Aramco’s second record-breaking performance came the next day when its market value soared over $2 trillion.
Aramco is the only company in this club with a listing outside the US. It’s currently traded on Saudi Arabia’s stock exchange, making shares next to impossible for non-institutional investors who would like to invest in this lucrative market opportunity.
Amazon
Company Name
Amazon.com, Inc.(AMZN)
Headquarters
Seattle, Washington, United States
Founder
Jeff Bezos
Founded
1994
Amazon – Trillion-Dollar Companies in the World
Amazon hit the $1 trillion mark a month after Apple, but it was also severely affected by the 2018 market slump. However, it only took them until January 2020 when they surpassed analyst expectations with their earnings and revealed that Amazon has 150 million members in its Prime subscription service.
Over the past few years, Amazon’s value has experienced exponential growth, and its success has propelled the company founder Jeff Bezos’s net worth towards surpassing $100 billion.
Amazon has solidified its position among the top companies with its trillion-dollar market cap, thanks to its relentless growth, unparalleled customer service, and an ever-growing catalog with products from nearly every genre imaginable.
Meta
Company Name
Meta Platforms, Inc. (META)
Headquarters
Menlo Park, California, United States
Founder
Mark Zuckerberg, Eduardo Saverin, Andrew McCollum, Dustin Moskovitz, Chris Hughes
Founded
2004
Meta – Trillion-Dollar Companies in the World
Meta, formerly Facebook, briefly entered the trillion-dollar realm in terms of market valuation for approximately three months in 2021. However, similar to Tesla, Meta’s valuation later decreased, leading to its departure from the trillion-dollar club. Despite these fluctuations, Meta remains a significant force in the tech industry, driving innovation and shaping the digital landscape with its social media platforms and technological advancements.
Recently, in January 2024, Meta’s market cap once again surpassed $1 trillion. This achievement marks Meta’s return to the trillion-dollar company club after a period of recovery in 2023.
Berkshire Hathaway
Company Name
Berkshire Hathaway (BRK-B)
Headquarters
Omaha, Nebraska, United States
Founder
Oliver Chace
Founded
1839
Berkshire Hathaway – Trillion-Dollar Companies in the World
Berkshire Hathaway, led by Warren Buffett, reached a $1 trillion market valuation for the first time on August 28, 2024. This makes it the first U.S. company outside the tech sector to join the elite trillion-dollar club, alongside tech giants like Apple, Microsoft, Nvidia, and others. Berkshire’s wide range of insurance, energy, manufacturing, retail, and service businesses earned $22.8 billion in profit during the first half of 2024. These businesses include Geico car insurance, BNSF Railway, Berkshire Hathaway Energy, Brooks running shoes, Dairy Queen ice cream, Ginsu knives, the World Book encyclopedia, and more.
Buffett, who took over in the 1960s, turned the company into a strong and stable empire. Despite being an “old-economy” company, Berkshire’s smart investments, including in Apple, have played a big role in its impressive growth.
Company That Touched the Trillion-Dollar Mark
Tesla briefly joined the exclusive trillion-dollar club and reached unparalleled heights of market valuation:
Tesla
Company Name
Tesla, Inc. (TSLA)
Headquarters
Austin, Texas, United States
Founder
Elon Musk, Martin Eberhard, JB Straubel, Ian Wright, Marc Tarpenning
Founded
2003
Market Cap
$657.29 B (August 2024)
Tesla – Trillion-Dollar Companies in the World
Due to a successful trading day on Monday, October 25th, 2021, Tesla’s market cap surpassed $1 trillion for the first time. Following the announcement of some exciting news from Hertz and Morgan Stanley, their stock jumped 10%.
Tesla, the renowned electric vehicle manufacturer, briefly joined the exclusive trillion-dollar club in terms of market valuation. However, its journey into and out of the trillion-dollar club has been marked by fluctuations. Despite experiencing moments of surpassing the milestone, Tesla’s market value has fallen back. This volatility was evident in April 2022, when Tesla dropped out of the trillion-dollar club. Nonetheless, Tesla’s pioneering efforts in the electric vehicle industry continue to shape the future of transportation and solidify its position as a prominent player in the market.
Which Companies Are Next to Join the Trillion Dollar Club?
Eli Lilly, a major player in pharmaceuticals with its focus on innovative treatments for diabetes and cancer, is a strong contender for the trillion-dollar club. Its long history of success in the healthcare sector positions it well for potential entry.
Taiwan Semiconductor Manufacturing Company (TSMC), a leading chipmaker crucial for technology ranging from smartphones to AI, is also a strong prospect. Despite their significant roles and growing market caps, both companies still have further to go before joining the trillion-dollar club.
However, it’s important to note that being contenders doesn’t guarantee them a spot as the next trillion-dollar companies. The race is still wide open, and only time will tell who will ultimately claim that prestigious title.
The planet is quickly becoming a country with trillion-dollar companies. Till now, only eight companies have been able to reach $1 trillion in value on the planet, and it’s estimated that this number will more than double in the coming years.
The company that will become the next trillion-dollar juggernaut is set for greatness. It doesn’t matter which industry it comes from or where it comes from, and whichever business gets its name on this list will have big shoes to fill because, if history tells us anything at all, it’s not easy to reach that level, and not to mention maintain it.
FAQs
How many trillion-dollar companies are there?
As of August 2024, there are eight trillion-dollar companies, Apple, Nvidia, Amazon, Microsoft, Saudi Aramco, Microsoft, Alphabet, and Berkshire Hathaway.
Is Tesla a trillion-dollar company?
No, Tesla is no longer a trillion-dollar company. It briefly joined the exclusive trillion-dollar club in terms of market valuation.
Is Meta a trillion-dollar company?
Yes, Meta is a trillion-dollar company with a $1.313 trillion market capitalization as of August 2024.
Which was the first trillion-dollar company?
PetroChina was the first company to reach a $1 trillion market value.
Chief Financial Officer (CFO) Luca Maestri will be leaving his position at Apple on January 1, 2025, according to the company. Vice President of Financial Planning and Analysis at Apple, Kevan Parekh, will be promoted to Chief Financial Officer and added to the executive team as a result of a prearranged succession.
According to Apple CEO Tim Cook, Kevan has been an integral part of the company’s financial leadership team for over a decade and knows the business inside and out. He is an ideal candidate to succeed Tim Cook as Apple’s chief financial officer due to his brilliant mind, sound judgment, and financial acumen.
Following four years at Thomson Reuters, Kevan Parekh became an Apple employee in 2013 and works in product marketing and finance. He has experience in international operations from his time at General Motors. He earned a BS in electrical engineering from Michigan State University and an MBA from Chicago University.
Academic History and Experience
Upon finishing high school, Parekh enrolled at the esteemed University of Michigan, which is famous for its excellent engineering programs. According to his LinkedIn profile, Parekh earned a BS in electrical engineering in 1994. He learned a lot about his area and gained expertise while participating in several student groups and research projects at the University of Michigan.
Parekh chose to get his Master of Commercial Administration (MBA) because he understood the value of having both technical knowledge and commercial sense. He was admitted to the world-renowned Booth School of Business at the University of Chicago. Parekh earned a Master of Business Administration degree in 2000 with a concentration in finance and strategic management, as stated on his LinkedIn profile. His thorough grasp of company operations and financial strategy was shaped by his time at the University of Chicago, where he participated in case competitions, had extensive networking opportunities, and had demanding coursework.
Impressive Professional Accomplishments
The educational background of Kevan Parekh has been crucial to his professional success. He became the Director of Business Development at General Motors in their New York headquarters after finishing his MBA. The company’s financial planning and strategic goals were within his purview. Thomson Reuters was Parekh’s next stop in 2009, and he held the positions of VP of finance and corporate treasurer thereafter. During his time at Thomson Reuters, he made substantial contributions to the company’s growth plans and financial restructuring.
Parekh became Apple Inc.’s VP of financial planning and analysis in 2013. His many years of experience in management include most recently serving as the company’s financial director for global sales, retail, and marketing. Financial strategy and operations at Apple owe a great deal to his extensive knowledge of both technical and commercial components. After Luca Maestri’s departure as Apple’s CFO on January 1, 2025, Parekh will take up the position.
Thousands of workers at Apple’s Tamil Nadu facility have reportedly begun training in order to manufacture the iPhone 16 Pro and Pro Max as near to the worldwide debut as feasible.
An esteemed media outlet revealed in July, citing sources, that Apple Inc. intends to employ its partner Foxconn Technology Group to manufacture the top-of-the-line Pro and Pro Max models of the forthcoming iPhone 16 series in India for the first time.
The ‘new product introduction’ (NPI) procedure for the pro variants of iPhone 16 will shortly begin at Foxconn’s site in Sriperumbudur, Tamil Nadu. Once officially announced, mass manufacturing will begin. Given its expertise and extensive integration into Apple’s supply chain, Foxconn usually receives priority on new production.
Pegatron’s India Unit and Tata Group Will Be Part of Manufacturing Process
‘Within weeks’ of the global launch, Foxconn will begin the process of assembling the premium gadgets. It is possible that Apple’s other partners in India, like as the Tata Group and the India unit of Pegatron, will also begin manufacturing the Pro models.
When the iPhone 16 goes on sale around the world, it is anticipated that Apple would make the made-in-India standard version of the device available to consumers. Apple has extended the manufacture of its flagship iPhone products in India by utilising Foxconn and Tata Electronics as additional manufacturing partners.
Manufacturing of iPads and AirPod to Be Included in Future
According to information obtained by a media report, Apple may also resume preparations to manufacture iPads in India through Foxconn.
It was also reported on July 8 that Apple is working towards raising the production of components for AirPod wireless charging cases through the contract manufacturer Jabil in Pune. Additionally, it is possible that Apple would also seek to increase production with Foxconn. Early in the next year, it is possible that production of Made in India AirPods will begin.
Apple Diversifying Beyond China
Apple is gradually expanding its operations beyond China in order to mitigate the risks associated with the tensions that exist between Beijing and Washington. Despite this, the great majority of iPhones are still manufactured in China.
As a result of this effort, Apple was able to manufacture $14 billion worth of iPhones in India for the fiscal year that ended in March 2024. This figure represents as much as 14% of the company’s total output worldwide. Similarly to the previous year, it is anticipated that Apple will make the ordinary iPhone 16 manufactured in India available on the same day that the most recent generation of the iPhone begins selling all over the world, according to the individuals.
The human race has come a long way in providing easy access to comfort and luxury. Hence, there is no surprise in knowing that now we feel the ‘need’ to have those gadgets to own luxury. And when we talk about luxury, Apple takes our brain space immediately. Apple is a brand that believes in the quality, luxury, and aesthetic aspects of its products. Take an iPhone, for example. It might be a really good user interface gadget, but some people still own it for its aesthetic capability.
Gradually, Apple is enhancing its presence in the wearable and hearable industry too. Before the Coronavirus outbreak, this market was growing at a relatively slower pace than post-pandemic. People are being exposed to a more sedentary lifestyle, with their living place becoming their office space.
Businesses know how to create the need for their products among consumers. Hence, the coronavirus came as an opportunity for some firms. Apple, being the technology firm, also stood on the favorable side of the situation and reaped its benefits more rigorously.
If we look at the basic ideology of a brand behind expanding its product line, we realize that these companies are good speculators of future prospects. That being so, why wouldn’t they invest then? They have all the reasons to diversify, and many did. The difference is Apple did its work extraordinarily.
Now, take the case of Apple. What really happened? According to International Data Corporation Data for the year 2020, Apple has been seen as the top player in the smart wearable device market, with it being the number one choice among the population. These products include smart watches, smart airpods, smart bands, etc.
The graph shows that iPhone shipments have seen fluctuations in recent years, from a peak of 231.2 million units in 2021 to 195.6 million units in 2019. The company had Apple’s 21.5% market share of wearable device unit shipments in the first quarter of 2023.
There are a number of possible explanations for the slow growth. One possibility is that the smartphone market is becoming saturated. Another possibility is that consumers are becoming more interested in other types of devices, such as tablets and laptops. Additionally, the rise of Chinese smartphone brands has posed a significant challenge to Apple.
Apple’s Annual Market Share
The graph shows the market share of Apple. The company has seen a consistent rise in its market share from 13% in 2019 to 18% in 2022. It vividly made itself stand out of the crowd.
The wearable technology market size was estimated at $61.30 billion in 2022. The market size is expected to grow from $186.48 billion in 2023 to $419.44 billion by 2028, and Apple will play a major role in achieving this goal.
Reasons Why Apple Is Dominating the Wearables Industry?
Apple’s Authenticity
Apple products are outrightly its own. The chief reason behind Apple’s products dominating the market is its uniqueness and originality, which it keeps intact and provides the best quality products to its customers. It may not be the inventor of a product, but it definitely fills the market with its best version.
Though the majority of brands today focus on the UI of their products, Apple stands out of the line by providing innovations in its UI. It makes the product in such a way that a customer feels belonged to the product. Take the Apple Active 2 watch, for example; it has the feature of memoji which you can change as and how you like it.
Regardless of the fact that these wearables at their initial stage were fitness trackers, that is, a sports accessory. Gradually, the demand for trackers becoming an ‘easily accessible tool’ grew. People wanted it to be a complete package, like an easy shortcut to texting, emailing, answering a call, and listening to music while being a fitness tracker. Apple changed the game for itself here.
In January this year, Tim Cook said there are over 1.5 billion active users of iPhone in the world. It gives those users a considerable reason to choose the Apple brand over other market competitors and an edge to Apple over its rival firms. We can’t really say that 100% of those users are wearable users, but they certainly are potential consumers for the brand.
Apple’s Credibility
When you know the brand and its market presence for quite a good amount of time, it earns your trust. This trust is then reciprocated when the company expands itself. Apple’s wearable technology will also aim to maintain the company’s credibility by providing customers with the best experiences.
Apple’s Luxury
The association of the brand with luxury is something a user wants to acquire in his/her span of life. The luxury being a need evolves from society and consumer’s socialization needs. Apple is well-known for its luxurious aspect of services. The price of Apple wearables also comes under luxurious products.
The sedentary lifestyle that Coronavirus pandemic has brought is more or less a catalyst in the sudden surge of sales in this industry. And when it comes to investment, people tend to invest in something that gives them more benefits and durability, even if it is slightly on the higher end.
Apple’s Competitor’s value for money
These wearables are slightly on the higher end of the price because they are a lifestyle product and not a necessity product. So when you compare the things, you realize what brand ticks the most boxes for you. According to data, Apple shines in this category. Examples of Apple wearable devices are the Apple Watch, AirPods, AirPods Max, Air Tag, Laptop Tag, etc.
Apple’s Growing Sector
The wearables industry is one of the fastest-growing business lines presently. Although Apple is a mega brand, it is really obvious that there has been a notable spike in its end users, which is not only for Apple but for all the other firms, too. The growing market and demand for Apple wearables will help the company increase its market share and gain a competitive edge over its competition.
Apple Watch Series 10: The Apple Watch Series 10 is expected to be released in September 2024. It is rumored to feature a new design, a faster processor, and improved health sensors.
AirPods Pro 3: The AirPods Pro 3 is expected to be released in the fall of 2024. They are rumored to feature a new design, improved noise cancellation, and support for lossless audio.
Apple AR/VR Headset: Apple is also rumored to work on a mixed-reality headset that combines augmented reality (AR) and virtual reality (VR). It is a smart wearable device by Apple. The headset is expected to be released in 2024. It will allow users to interact with digital objects and information in the real world and experience immersive VR experiences.
Apple Glasses: Apple is also rumored to work on a pair of smart glasses. The glasses are expected to be released in 2025 or 2026. They will allow users to interact with digital objects and information in the real world without looking at a smartphone.
Apples wearable glasses
Conclusion
Apple is one of the finest business firms and has a very firm step in the global market. It generally launches its products during the year-end, which is a festive season for most parts of the world, which again is a fair reason for rising sales. People look forward to its new product launches and, above that, trust it. Apple doesn’t really offer something out of the world in its products, but it knows how to present its products to its buyers efficiently. It is a smart brand equipped with smart brains. Thus, the bottom line is Apple is a player in its regime, so it knows how to be exceptional.
FAQs
What is a smart wearable device?
Wearable devices arefashion electronics and accessories that are electronic devices with microcontrollers. These smart electronic devices are worn close to the surface of the skin, and they can detect, analyze, and transmit information concerning body signals.
What are Apple wearable products?
Apple Watches
Apple AirPods
Apple Headphones
Who are Apple’s competitors in wearables technology?
Apple is the market leader in wearables technology. Some competitors in the wearables industry are:
Let’s Picture this: Imagine you’re holding your iPhone, asking Siri to play your favorite song or call your contacts while unlocking it with your fingerprint. And for this, you have Apple’s strategic acquisitions to thank for these convenient features.
Apple gadgets are known for their innovative features and products that have transformed the tech industry. However, the company’s success is not solely due to its in-house development and research efforts. Apple has also made several strategic acquisitions over the years, acquiring companies that have helped it expand its offerings and remain at the forefront of the tech industry.
Apple has made 12 investments in addition to 107 acquisitions. The corporation has invested more than $28.51 billion in acquisitions. The Apple business has been at the forefront of innovation since its establishment in the year 1976, creating some of the most recognizable and ground-breaking gadgets of recent years. Yet, Apple’s success is not only attributable to its own brilliance; throughout the years, the business has also made a number of wise acquisitions that have helped it grow its product line and remain ahead of the competition.
Let us now examine some of the most important acquisitions made by the company in more detail in this piece of writing! The acquisitions paved the way for the Palo Alto-based giant to become.
NeXT Computer is known to be one of Apple’s greatest significant purchases in history and was purchased by the company in 1997. This was considered crucial not just because it allowed Steve Jobs to return to Apple, but also because it allowed the business to employ the NeXTSTEP operating system’s technologies. This program is known to have served as the model for Apple’s current macOS operating system, which is still in use. Avie Tevanian and Jon Rubinstein, who’ve been instrumental in the creation of the iPod, iPhone, and iPad, were two of the key NeXT employees who became available to Apple as a result of the acquisition.
FingerWorks
Founded
1998
Industry
Gesture recognition
Acquired
2005
Apple’s Key Acquisition – FingerWorks
A business that became popular and is known to be specialized in creating touch-based user interfaces for computers, Fingerworks, was bought by Apple in 2005. This purchase helped the company pave the way for the creation of the iPhone, which completely changed the smartphone industry for good. With the use of Fingerworks’ technology, Apple was able to develop a touch-based user interface that was simple to understand and operate which later became the future of mobile phones. In the years to come, this strategy is expected to become a defining feature of Apple’s products.
PA Semi
Founded
2003
Industry
Fabless semiconductor company
Acquired
2008
Apple’s Key Acquisition – PA Semi
In 2008, Apple purchased PA Semi, a semiconductor business with a focus on creating low-power processors that later became a successful part of the company. The semiconductor design team that Apple gained access to through this acquisition was crucial in the creation of the A-series processors that power the iPhone and iPad. Apple gained a substantial competitive edge in the mobile device industry by inventing its own CPUs, enabling it to produce devices that were more effective and potent than those of its rivals.
AuthenTec
Founded
2003
Industry
Fabless semiconductor company
Acquired
2008
Apple’s Key Acquisition – AuthenTec
Apple purchased AuthenTec, a firm that specialized in creating fingerprint recognition technology, in 2012. Apple’s acquisition of AuthenTec provided Apple with the technology required to create Touch ID, a feature that allows customers to unlock their iPhones and make transactions with their fingerprints. Touch ID has become a regular feature on the majority of Apple’s products, aiding in the security and simplicity of using Apple’s gadgets.
Beats Electronics
Founded
2006
Industry
Consumer electronics
Acquired
2014
Apple’s Key Acquisition – Beats Electronics
Apple paid $3 billion for Beats Electronics in 2014, one of its biggest purchases made by Apple to date. Beats was a prominent headphone and speaker company developed by rapper Dr. Dre and music mogul Jimmy Iovine. Apple’s acquisition of Beats Electronics provided it with access to a well-known consumer electronics brand as well as a music streaming service (Beats Music) that would later become Apple Music. The acquisition also brought Jimmy Iovine and Dr. Dre onto Apple’s management team later, providing the business with vital insight into the music industry.
Why Apple Bought Beats
Texture
Founded
2006
Industry
Consumer electronics
Acquired
2014
Apple’s Key Acquisition – Texture
Texture, a digital magazine subscription service, was purchased by Apple in 2018. This acquisition provided Apple with access to a collection of high-quality periodicals that could be incorporated into Apple’s services, such as Apple News and Apple News+. Texture’s technology also assisted Apple in improving its curation and recommendation algorithms, making it simpler for consumers to find new material. The acquisition was part of Apple’s bigger drive into the services sector, which has been an increasingly crucial source of income for the business in recent years.
Drive.ai
Founded
2006
Industry
Consumer electronics
Acquired
2014
Apple’s Key Acquisition – Drive.ai
In 2019, Apple purchased Drive.ai, a firm that was developing self-driving car technology. This acquisition provided Apple with access to a team of specialists in autonomous vehicle technology, which would be useful in the development of Apple’s own self-driving car project (known as Project Titan). While specifics regarding Project Titan are still scant, Apple’s acquisition of Drive.ai demonstrates that the company is serious about participating in the self-driving car business.
Vilynx
Founded
2006
Industry
Consumer electronics
Acquired
2014
Apple’s Key Acquisition – Vilynx
More recently, in 2020, Apple purchased Vilynx, a firm that develops artificial intelligence technologies for evaluating and categorizing video footage. This purchase is part of Apple’s larger push into the video and streaming markets, and it might help the firm improve the recommendations and discovery capabilities of its video streaming services (such as Apple TV).
Conclusion
Apple has made several strategic purchases throughout the years, ranging from semiconductor businesses to virtual assistant startups. These purchases have allowed the corporation to broaden its offers, develop its products, and remain ahead of the competition. While certain purchases (such as NeXT Computer and Fingerworks) had a significant effect on Apple’s product development, others (such as Texture and Vilynx) were more focused on expanding the company’s services and content offerings. Regardless of their precise emphasis, Apple’s acquisitions have played a vital role in the company’s development throughout the years.
As Apple continues to expand and change, it will be intriguing to watch what acquisitions it makes next and how they will affect the company’s future. Further acquisitions are inevitable in the future as Apple continues to expand and innovate. The corporation has previously stated its desire to broaden its service offerings, and it is probable that it will seek to purchase companies that may assist it in this endeavor. Furthermore, as the technology environment shifts and new technologies develop, Apple will need to stay ahead of the curve by purchasing firms that specialize in these emerging areas. Whatever the future holds, one thing is certain: Apple’s acquisitions will continue to be critical to the company’s development and evolution for many years to come.
FAQs
What are Apple’s key acquisitions?
Below is the list of the main companies acquired by Apple-
NeXT Computer
FingerWorks
PA Semi
AuthenTec
Beats Electronics
Texture
Drive.ai
Vilynx
What role did Apple’s key acquisitions play in the company’s success?
The acquisitions have allowed Apple to broaden its offers, develop its products, and remain ahead of the competition. While certain purchases had a significant effect on Apple’s product development, others were more focused on expanding the company’s services and content offerings.
With a market capitalization of over a trillion dollars at the time of this writing, Apple is among, if not the most valuable brand in the world. In recent years, it has become increasingly rare to not use an Apple product at some point in your day. In fact, as of this month, there are over one billion Apple products being used across the world. The little apple with a bite out of it has become synonymous with technology, music, and growth.
Apple Inc. is an American multinational technology company headquartered in Cupertino, California, that designs, develops and sells consumer electronics, computer software, and online services. Apple is considered one of the Big Four technology companies, along with Amazon, Google, and Facebook.
The company’s hardware products include the iPhone smartphone, the iPad tablet computer, the Mac PC, the iPod portable media player, the Apple Watch smartwatch, the Apple TV digital media player, and the AirPods wireless earbuds. Apple’s software includes the macOS, iOS the iTunes media player, the Safari web browser, and the iLife and iWork creativity and productivity suites. Its online services include the iTunes Store, the iOS App Store, the Mac App Store, Apple Music, iMessage, and iCloud.
The history of everyone’s favorite start-up is a tech fairytale with one garage, three friends – Steve Jobs, Steve Wozniak, Ronald Wayne, and their wild passion to do something big. The two Steves attended the Homebrew Computer Club together; a computer hobbyist group that gathered in California’s Menlo Park from 1975. Woz produced the first computer with a typewriter-like keyboard and the ability to connect to a regular TV as a screen. Later christened the Apple I, it was the archetype of every modern computer hand-built entirely by Wozniak.
It was sold as a motherboard (with CPU, RAM, and basic textual-video chips)—a base kit concept. The approach was to make something simpler for the rest of us. A philosophy even reflected today in Apple’s products. The Apple I went on sale in July 1976 and was market-priced at $666.66 ($2,995 in 2019 dollars, adjusted for inflation).
According to the biography of Steve Jobs, the name was conceived by Jobs after he returned from an apple orchard. He apparently thought the name sounded “fun, spirited, and not intimidating.” The name also likely benefitted by beginning with an A, which meant it would be nearer the front of any listings.
Apple Computer, Inc. was incorporated on January 3, 1977, without Wayne, who had left and sold his share of the company back to Jobs and Wozniak for $800 only twelve days after having co-founded Apple. Multimillionaire Mike Markkula provided essential business expertise and funding of $250,000 during the incorporation of Apple.
During the first five years of operations, revenues grew exponentially, doubling about every four months. Between September 1977 and September 1980, yearly sales grew from $775,000 to $118 million, an average annual growth rate of 533%.
Steve Jobs was convinced that all future computers would have GUI. The first home computer with a GUI, or graphical user interface — an interface that allows users to interact with visual icons — was the Apple Lisa. Jobs adapted the technology of The Xerox Alto(the first computer to feature GUI) into a computer small enough to fit on a desktop. Despite a fantastic breakthrough, it was a commercial failure due to its high price and limited software titles.
On December 12, 1980, Apple (ticker symbol “AAPL”) went public selling 4.6 million shares at $22 per share, generating over $100 million, which was more capital than any IPO since Ford Motor Company in 1956. By the end of the day, the stock rose to $29 per share, and 300 millionaires were created. Apple’s market cap was $1.778 billion at the end of its first day of trading.
The Macintosh Computer, In 1984, Apple introduced its most successful product yet — the Macintosh, a personal computer that came with a built-in screen and mouse. The machine featured a GUI, an operating system known as System 1 (the earliest version of Mac OS), and a number of software programs, including the word processor MacWrite and the graphics editor MacPaint. The New York Times said that the Macintosh was the beginning of a “revolution in personal computing.”
Macintosh sales were initially good but began to taper off dramatically after the first three months due to its high price, slow speed, and limited range of available software. In early 1985, this sales slump triggered a power struggle between Steve Jobs and CEO John Sculley, who had been hired by Jobs using the famous line, “Do you want to sell sugar water for the rest of your life or come with me and change the world?” Jobs resigned from Apple in September 1985 and took a number of Apple employees with him to found NeXT Inc. Wozniak had also quit his active employment at Apple earlier in 1985 to pursue other ventures. He continues to represent the company at events or in interviews, receiving a stipend estimated to be $120,000 per year for this role.
In 1997, Jobs returned to Apple as the interim CEO, and a year later the company introduced a new personal computer, the iMac. The iMac was a strong seller, and Apple quickly went to work developing a suite of digital tools for its users, including the music player iTunes, the video editor iMovie, and the photo editor iPhoto. These were made available as a software bundle known as iLife.
In 2001, Apple released its first version of the iPod, a portable music player that allowed users to store “1000 songs in your pocket”. By 2015, Apple had sold 390 million units.
The iPhone
During his keynote speech at the Macworld Expo on January 9, 2007, Jobs announced that Apple Computer, Inc. would thereafter be known as “Apple Inc.”, because the company had shifted its emphasis from computers to consumer electronics. The event also saw the announcement of the iPhone and the Apple TV. The company sold 270,000 iPhone units during the first 30 hours of sales, and the device was called “a game changer for the industry”. Apple achieved widespread success with its iPhone, by October 2008, Apple was the third-largest mobile handset supplier in the world.
After years of speculation, Apple unveiled the iPad on January 27, 2010. The iPad ran the same touch-based operating system as the iPhone, and all iPhone apps were compatible with the iPad. Later that year on April 3, 2010, the iPad was launched in the US. It sold more than 300,000 units on its first day, and 500,000 by the end of the first week. In May, of the same year, Apple’s market cap exceeded that of competitor Microsoft for the first time since 1989.
Jobs passed away in 2011, months after stepping down as CEO, marking the end of an era for Apple, he was replaced by Tim Cook. The company continues to enjoy growth, engaging in many high-profile acquisitions, in recent years buying companies such as Beats Electronics and hardware sensor giant PrimeSense.
In the 20th century, Apple catered primarily to the home computer market, selling products which, although coming with a premium price tag were still affordable for the mass market. In the 21st century, following Jobs’ re-branding of Apple Computers Inc. to Apple Inc., Apple has focused increasingly on consumer electronics, with the iPod, the iPhone, and the iPad becoming flagship products. They continue to cater to the premium end of this market.
Value Proposition
The key to Apple’s success is majorly given to its meticulous, elegant design. Moreover, the loyal customer base formed by Apple in the initial years is still a strong standing point, with customers ready to pay time and again for flawless, high-performance, brilliantly designed devices.
Customer Relationships
Apple maintains its strong relationship with its customers by offering phone and web-chat-based customer service channels, in addition to providing in-person assistance at its various stores worldwide.
Key Activities
Apple’s key activities are investing a lot in quality control to ensure products meet the standard their customer base has come to expect. Aside from design, and quality control, branding is a huge part of what Apple does. Apple is extremely conscious of controlling the image it projects and it has painstakingly and consciously cultivated an image of quality, precision, sophistication, and class that enables it to justify the higher price tags its products command relative to its rivals.
While home computer sales comprised the majority of revenue for most of Apple’s history, in the last decade, this has changed as Apple has focussed on smaller consumer electronics. For FY 2022, the sale of iPhones generated between 40-60% of the company’s revenues and is consistently their biggest earner.
Macintosh computers were the second biggest earner in FY 2022, generating around 6-10% of the company’s revenue.
The sale of the iPad generated 5-8% of Apple’s income in FY 2022.
Sale of other products, including Apple watches and iPods generate around 8-10% of revenue.
Apple’s internet services, including iTunes, Apple Care, and Apple Pay accounted for 19.8% of revenue in FY 2022.
Apple’s Revenue Breakdown by Product for FY 2022
The key highlights of the analysis of Apple as a Tech giant are that when the need felt to a shift from the computer industry to consumer electronics, it didn’t wait for the numbers to slump, it immediately started working on newer products.
It worked really hard to maintain the quality standard and never compromised on it even if the sales fluctuated.
Another major reason for Apple’s dominance in the upper crest of digital products is the customer relations it has maintained over the years. The brand loyalty that we see when it comes to Apple’s tribe is unmatched by any other company.
The user-friendly interface, attractive updates, and excellent customer service never let Apple’s presence fade away despite the extravagant costs.
Apple also works on its advertising strategy, launching exciting ads that ultimately make it the talk of the industry. Whether the reputation is positive or negative, Apple makes sure that it does not let the popularity descend. This constant adaptation and perseverance is what makes it sit on the trillion-dollar throne.
FAQs
When was Apple founded?
Apple Computers, Inc. was founded on April 1, 1976, by Steve Jobs and Steve Wozniak.
What is Apple’s first product?
The first Apple product was launched on April 11, 1976. It was just a fully assembled motherboard, with about 60 chips.
Who is the CEO of Apple?
Tim Cook serves as CEO of Apple since 24 Aug 2011.
As the world gears up through the prosperity and connectivity of Industry 4.0, e-commerce has had the best journey. The number of internet users is increasing tremendously by the day with more and more efforts to make people stay connected online and get things done virtually.
With over 63% of people using the internet across the United States of America, e-commerce has grown by 50% during the pandemic alone. E-commerce, due to the exposure that it provides for small businesses and the visibility that all businesses get even in the remote areas of the country, is getting bigger by the day.
The US is one of the most developed marketplaces for e-commerce companies with this particular segment accounting for more than $1 trillion in annual retail sales across the country.
This article will discuss some popular e-commerce companies in the USA based on their market share. Most of these companies or not only popular in the USA but are also the best globally.
Amazon is the undisputed leader in the industry with a market share of 41% as per the reports that came in the year 2022. They have a whopping 2.1 billion visits on January 2022 which they proudly flaunt. Amazon was founded in the US in the year 1994 as an online marketplace for books from where it has expanded into a multinational technology company that focuses on e-commerce, digital streaming, and artificial intelligence.
It is one of the big five American information technology companies at par with Alphabet, Apple, Meta, and Microsoft. Jeff Bezos owns this e-commerce company, which generates revenue of $470 billion, and employs more than 15,44,000 people globally. Amazon is often referred to as “one of the most influential economic and cultural forces in the world”.
Market share of leading retail e-commerce companies in the United States as of 2022
Walmart
Founded
1962
Headquarters
Bentonville, Arkansas, US
Revenue
$570 Billion (2022)
Website
walmart.com
Walmart – Top E-Commerce Retailers in the USA
This American multinational retail corporation was in fact the world’s largest one of its kind that operates a plethora of departmental stores, grocery stores, and hypermarkets.
Headquartered in Bentonville, Arkansas, Walmart was founded by Sam Walton and James Walton in 1962. They account for 6.3% of the market share to gain $393.25 billion in 2022 from $369.96 billion in 2021. Not surprisingly, they were also the world’s largest private employer with 2.2 million people working for them.
Apple
Founded
1976
Headquarters
Cupertino, California, US
Revenue
$394.328 Billion (2022)
Website
apple.com
Apple – Top E-Commerce Retailers in the USA
Apple.com, the retail store by Apple Inc, holds 3.9% of the market share through its net sales across its online store. They sell a range of their products from personal computers, smartphones, tablets, digital media players, etc. The first Apple store was opened in 2001 by Apple CEO Steve Jobs.
It also became the fastest company to make more than 1 billion in sales within three years of its launch to be the first company to do so. Their success as top-tier online retailers becomes sweeter due to the fact that they only sell Apple products.
eBay
Founded
1995
Headquarters
San Jose, California, US
Revenue
$10.8 Billion (2021)
Website
ebay.com
eBay – Top E-Commerce Retailers in the USA
Since its inception in 1995, eBay has never had to look back as it continued to expand its business globally in more than 20 countries. It was founded by an Iranian American named Pierre Omidyar and the first item to be sold on the auction website was a broken laser printer.
They were in fact the pioneers of the e-commerce segment. This California-based company allows both consumer-to-consumer and business-to-consumer sales through its website. It holds 3.5% of the market share in the US.
Target
Founded
1902
Headquarters
Minneapolis, Minnesota, US
Revenue
$26.12 Billion (2022)
Website
target.com
Target – Top E-Commerce Retailers in the USA
Headquartered in Minnesota, Target is a big box department store that is considered the seventh largest retailer in the United States of America. Their e-commerce segment was launched in 2010 when they partnered with Amazon before independently launching itself.
In 2020 alone their business grew by 144.7 %. They hold 2.1% of the e-commerce sale in the country as of June 2022. It was established as a discount division of the Dayton department store in 1962. This Fortune 500 listed company has 1948 stores across the USA.
The Home Depot
Founded
1978
Headquarters
Atlanta, Georgia, United States
Revenue
$151.2 Billion (2022)
Website
homedepot.com
The Home Depot- Top E-Commerce Retailers in the USA
Home Depot is an online platform for all sorts of home improvement needs including appliances, bathroom decorating ideas, kitchen remodeling, patio furniture, and so on. They have employed more than 500,000 employees globally.
They have been able to significantly integrate the nuances of both online and offline shopping by providing a seamless customer experience. They hold 2.1% of the US e-commerce market. In the financial year 2021, they achieved the milestone of making $150 billion in sales.
Additionally, its personalized omnichannel strategy and revamped investments in areas like artificial intelligence and augmented reality have further improved its online presence.
Best Buy
Founded
1966
Headquarters
Richfield, Minnesota, US
Revenue
$51.761 Billion (2022)
Website
bestbuy.com
Best Buy – Top E-Commerce Retailers in the USA
Founded by Richard M. Schulze and James Wheeler in 1966, Best Buy was initially an audio specialty store that grew into a multinational consumer electronics retailer. They are the largest specialty retailer in the consumer electronics retail industry.
It holds 1.6% of the market share and was ranked number 17 in the Fortune 500 list of the top state corporations in the United States based on the total revenue generated. They have also integrated virtual shopping experiences into their midst to improve customer experience further. They hope to enrich the lives of people through the innovative and efficient use of technology.
Costco
Founded
1983
Headquarters
Issaquah, Washington, US
Revenue
$226.954 Billion (2022)
Website
costco.com
Costco – Top E-Commerce Retailers in the USA
Costco was first opened in 1976 in a converted airplane hangar in San Diego. It used to be a small endeavor that served only small businesses. In fact, Costco was the first company that got a whopping $3 billion in sales within six years.
As of 2020, Costco Wholesale is the fifth largest retailer in the world and holds 1.6% of e-commerce sales in the USA. As of today, Costco is an American multinational corporation that operates a chain of membership-only big-box retail stores.
They are listed as one of the Fortune 500 companies and continue to grow through its strong entrepreneurial drive for excellence and a strong backbone cemented by employees who are highly loyal to the company due to their excellent workplace culture which attracts energetic, positive, and talented employees.
Founded in 2012, Carvana has emerged as the most online growing used car retailer in the United States. It was started by Ernest Garcia III, Ryan Keeton, and Ben Huston and is most popular for its multi-story car vending machines.
As of 2021, Carvana operates in over 250 markets across the United States and has become one of the largest used car retailers in the country. Being a young company, Carvana was able to get its name featured in the Fortune 500 list (2021) and is known to hold 1.5% of the total e-commerce market share in the US.
Kroger
Founded
1883
Headquarters
Cincinnati, Ohio, U.S.
Revenue
$137.888 Billion (2022)
Website
kroger.com
Kroger – Top E-Commerce Retailers in the USA
Introduced in 1883, Kroger is an American retail company that operates supermarkets and multi-department stores in the United States. Kroger holds 1.4% of the total e-commerce market in the US.
Kroger’s headquarters are placed in Cincinnati, Ohio. Today, Kroger operates over 2,700 grocery stores in 35 states under various brand names, including Kroger, Ralphs, Fred Meyer, and Fry’s. In addition to groceries, Kroger stores offer a range of products and services, including pharmacy services, fuel stations, and online shopping options.
The company is also known for its private label products, which are sold under various brand names, such as Simple Truth and Private Selection. Kroger is committed to sustainability and has implemented several initiatives to reduce waste, conserve energy, and promote social responsibility.
Wayfair
Founded
2002
Headquarters
Boston, Massachusetts, US
Revenue
$13.708 Billion (2021)
Website
wayfair.com
Wayfair – Top E-Commerce Retailers in the USA
Previously known as CSN stores, Wayfair is an American e-commerce company that specializes in selling furniture, decor, home goods, and other household items online. It was founded by Niraj Shah and Steve Conine in 2002 with its headquarters being placed in Boston, Massachusetts. The company holds 1.1% of the total e-commerce market share of the United States.
Wayfair operates through several online retail websites, including Wayfair.com, Joss & Main, AllModern, and Birch Lane. Its website offers 14 million items from more than 11,000 global suppliers. Wayfair has operations in North America, Europe, and Australia, and as of 2021, employs over 16,000 people.
Chewy
Founded
2011
Headquarters
Plantation, Florida, US
Revenue
$8.891 Billion (2022)
Website
chewy.com
Chewy – Top E-Commerce Retailers in the USA
Chewy was introduced in 2011 by Ryan Cohen and Michael Day with the name “MR. Chewy”. The company was later on acquired by PetSmart in 2017. Chewy is an American online retailer of pet food and supplies that offers a wide range of pet-related products, including food, treats, toys, medication, and accessories for dogs, cats, birds, fish, and other small animals.
The company operates through its e-commerce website, Chewy.com, which offers a variety of search options and filters to help customers find the products they need.
Chewy has grown rapidly in recent years and as of 2021, Chewy has 13 fulfillment centers across the US. It also holds % of the total market share of the US e-commerce market.
They are an American chain of high-end department stores with a long legacy that can be traced back to 1858 since its launch by Rowland Hussey Macy. They account for 0.9% of the US commerce retail sales.
Headquartered in New York, Macy’s is known for its high-quality products with a nationwide footprint which gives a hassle-free shopping experience to the customers. They believe in and strive towards creating a brighter future with bold representation.
Conclusion
E-commerce industries are sprouting up not only in the USA but also across the world at a fast pace. Tracing the patterns of the top e-commerce companies, it can be understood that two things that all successful e-commerce companies did were to provide excellent customer service and cater to all their needs.
As long as the customers are happy the company can rest assured of its growth. However, there is no doubt that e-commerce industries offer a plethora of opportunities for young entrepreneurs to make their mark.
FAQs
What is the top US e-commerce company?
Undoubtedly, Amazon is the top US e-commerce company.
How many online retailers are there in the US?
As per the data shared by Zippia, the US is home to around 1.8 million online retailers.
Which country is number one in e-commerce?
China is number one in the e-commerce sector owing to its large population providing the opportunity of having the biggest marketplace.
How big is the US e-commerce market?
The US e-commerce market is the second largest e-commerce market in the world with a revenue of 862.4 billion in 2021.
Do you remember the days when you shared MP3 CDs with your friends? Back then, listening to your favourite music was a hassle.
Then came iPod, which changed the way we listened to music.
In 2001, Apple introduced the iPod under Steve Jobs, who transformed Apple from a business on the verge of bankruptcy to a $3 trillion company. On May 10, 2022, almost 20 years after releasing its first iPod, Apple said it would no longer produce the device. But, the iPod touch will continue to sell until supplies run out.
Why did Apple stop producing iPods?
Discover the journey of a whopping 40% revenue share in 2008 to a meager 1% revenue share by 2014 – The success and decline of the Apple iPod.
The Introduction of Apple iPod: A Love Story Between Music and Computers
1999 was the best year yet for the US music industry. Two things were expanding during this period. There were computers in more than 40% of homes.
Additionally, internet usage was multiplying.
People were burning CDs and listening to their friends’ mixes. They downloaded songs from Napster and then bought MP3 players. But they were bulky – gray rectangles that weighed down your purse or pocket.
Apple introduced a portable music player iPod in October 2001. The iPod mp3 player, with a 5GB hard drive, promised to hold 1,000 songs in your pocket. It was easier to use for loading and purchasing music.
Apple offered a physical portable music player compatible with iTunes’ online platform. The iPod allowed users to scroll through songs with their thumbs in a circular motion. People took notice of this easy-to-use control scheme.
Due to its high cost and only being able to be used on iMac computers, the device was received with mixed feelings.
As a result, Apple opened the Itunes music shop in April 2003. The Windows version was released six months later. It allowed customers to start their music libraries for $0.99 per song.
The Sony Walkman had been the standard portable music player before the iPod mp3 player. With Apple’s iPod product, Sony’s device became obsolete since it could only hold 250 songs with no expansion or more storage options. Apple’s device allowed for up 1500 songs on one device alone.
With an iPod, you can listen to only the music you want when you want it. You don’t have to buy the entire tape to listen to the one song you want. You don’t have to wait until you can afford your favorite CD. You can listen to music while doing something else.
Now you have a tool that allows you to change the parameters of the tape and select only songs you enjoy. In turn, it had a ripple effect on the economy and how music was produced.
Apple Taking a Risk With iPod to Achieve Success
In 1999, CD sales accounted for $21 billion in US music sales. But CD players and early portable music players had many issues, including being big and clunky, skipping during playback, and holding few songs.
Apple saw an opportunity to create something small and powerful but needed to know what it was. Until former head of hardware, Jon Rubinstein met with Toshiba at a Macworld expo in Tokyo, who displayed a 1.8-inch hard drive. This small but revolutionary hard drive combined portability and storage.
On October 23, 2001, the first iPod was unveiled.
The iPod underwent design iterations throughout its existence. From a music player with a hard drive to a screenless fob to a scaled-down iPhone. It acquired several other capabilities over time.
The iPod Shuffle had only a few controls. It was called the “radio station” of iPods, making sense by its motto, “Controlling your radio station.” The Nano, Mini, and Touch models followed. The Classic has a scroll wheel and is relatively large compared to its counterparts.
Apple kept the momentum going by introducing the iPod Mini and iPod Nano in 2005. Apple sold 22.5 million iPods in various configurations that year. It doubled its previous record from 2004 and four times the volume moved in 2003.
During its peak, iPods captured 80% of the market share. The true rivalry occurred when cell phones began to get data and MP3 capabilities. The co-creator of the iPhone, Tony Fadell, said that cell phones started to be 2.5G and started to resemble Sidekicks when they began putting on MP3s.
Before Apple introduced the iPod touch in 2007, they offered another device. It was known as the iPhone and included a phone, internet communicator, and iPod music app. It’s not an iPod with an antenna. It allows users to browse the web, make phone calls, and play music.
The above graphs show the global sale of Apple iPod from 2006 to 2014 in million units
In 2008, Apple introduced new iPod models. But the sales started to fall off when the iPhone experienced rapid expansion. There was a gadget with all the features of an iPod combined with a cell phone and internet capabilities.
Apple sold 14.4 million iPods in 2014, down from 55 million in 2008. The iPod only contributed 1.25% of Apple’s revenue that year (2014). Apple stopped making the iPod classic, shuffle, and nano in 2017.
The iPod touch was last updated in 2019. It has stayed popular among kids and app developers as a low-cost iOS device. The upgrades were insignificant, though, appearing more like a feeble attempt to prolong the life of the last iPod.
Conclusion
Apple’s iPod had a massive impact on music. It was the first device to popularize the concept of having music on the go. Although it is no longer for sale, the iPod touch pioneered that now-commonplace ability.
It’s exciting and sentimental to remember what the iPod meant to us. It was an era when you could access music through infinite possibilities of streaming services.
FAQs
Does iPod still exist in 2022?
Yes, iPod does still exist in 2022 as Apple still has an availability of the 7th generation of iPod touch which was first released back on May 2019.
What replaced the iPod?
Some of the devices that replaced the iPod are iPhone, Sony NW-A105 Walkman A Series, Aiworth, M17 Media Player, etc.
Why were iPods so popular?
iPods were popular for multiple reasons. The best reason for it being popular was that no other company was able to introduce such a product in the market before Apple integrated iPods. iPods were way much easier to use and carry. The iPods were connected to iTunes stores for easy services.
Why did Apple stop selling iPods?
Apple slowly declined the production of iPods primarily because of the declining sales rate of iPods. Another reason was the introduction of a device with better abilities being made available in the market by Apple led to the shift in focus of customers that eventually closed the doors for the iPod market.
Tanusha Verma
