With APPL trading at $182.55 per share, Apple has reached a $3 trillion market cap and earned another major milestone. After completing an upgrade cycle across the product line, the Cupertino tech giant recorded all-time high Q4, 2021 earnings, $83.4 billion with 29% Y-o-Y growth. And the fact that Apple saw record revenue in spite of the COVID-19 pandemic and after losing $6 billion due to supply constraints caused by the global chip shortage.
Fortunately for the Cupertino tech giant, the COVID-19 pandemic has had a reverse impact on it. Since Q1, 2020, the company has recorded incredible year-on-year growth, each quarter.
- Q4, 2021 – $83.4 billion
- Q3, 2021 – $81.4 billion
- Q2, 2021 – $89.6 billion
- Q1, 2021 – $111.4 billion
- Q4, 2020 – $64.7 billion
- Q3, 2020 – $59.7 billion
- Q2, 2020 – $58.3 billion
M1 chip and innovative products paved the way for Apple to achieve $3 trillion market value
The remarkable success journey of Apple to $3 trillion is built on a strong products lineup catering to a diverse range of demographics. At the Q4, 2021 earnings call, Apple CEO Tim Cook accredited the company’s success to continuous innovation designed to bring meaningful changes and convenience in users’ daily and professional lives. He said;
“This year we launched our most powerful products ever, from M1-powered Macs to an iPhone 13 lineup that is setting a new standard for performance and empowering our customers to create and connect in new ways. We are infusing our values into everything we make — moving closer to our 2030 goal of being carbon neutral up and down our supply chain and across the lifecycle of our products, and ever advancing our mission to build a more equitable future.”
Marking the historic transition from Intel processors to Apple Silicon, the M1 chip was launched in 2020 powering 13-inch MacBook Pro and MacBook Air, and Mac mini. In 2021, the company introduced M1 iMac, M1 iPad Pro, and for professional users, M1 Pro and M1 Max MacBook Pro models. All the computers are praised for their fast performance and extraordinary battery life.
The latest 5G iPhone 13 series has the same design language as the 5G iPhone 12 series but offers major upgrades across all four models. A bigger battery, improved camera, and camera features make even the iPhone 13 mini model an attractive product for consumers.
The new iPad mini 6th generation and iPad 9th generation add more options for consumers to opt for in the tablets line up. Affordable HomePod mini replaced the expensive HomePod which deliver room-filling sound and advanced feature for just $99. After the successful launch of Fitness+, this year the company introduced a cheaper Apple Music Voice Plan powered by Siri.