“Hard as it may be to believe, Apple is just a few weeks away from the sixth anniversary of Tim Cook taking over as CEO of the company,” Mark Rogowski writes for Forbes. “Often criticized as lacking vision or being responsible for some shortcoming in Apple ‘s technology and strategy, the Cook era instead looks to be on its way to the stuff of business legend.”
“During Cook’s tenure, Apple stock has nearly tripled in value and the company’s market cap stands at $819 billion — $170 billion more than second-place Alphabet and about that far from the $1 trillion mark,” Rogowski writes. “But the most impressive thing about Apple’s position under Cook isn’t a particular financial milestone; instead it’s that the company is basically winning in every segment it competes in.”
“Under Cook, Apple has gobbled most of the total profit in the mobile industry… taking a greater than 80% share over the past three years,” Rogowski writes. “The services business at Apple is about the size of Time Warner today. In five years, it could easily be bigger than Disney… The Mac + iPad business is $10.5 billion in the most recent quarter, larger than the $9.3 billion taken in at Facebook… Apple has more than 30 million Watch wearers, perhaps nearing 4% of all iPhone users. That may not sound like much but the Watch averages more than $1 billion per quarter — significantly more around the holidays… Even today, ‘other products’ is a almost the same size as Netflix, $2.7 billion vs. $2.8 for the video streaming giant.”
Read more in the full article here.
MacDailyNews Take: Just wait until Apple launches HomePod and Apple Watch Series 3 – Apple’s “Other Products” segment alone is going to dwarf Netflix!
As we wrote yesterday: The next ten years are going to be absolutely amazing for Apple. The company has just started to really get going!
Why Apple’s market cap is going to $2 trillion – August 2, 2017