By The tech giants have weathered the 2022 crises and come out the other side relatively unharmed, with many of them seeing their revenues and stock values skyrocket last year. However, none of them is even close to Apple, the absolute leader in the GAFAM group.
According to data presented by AltIndex.com, Apple earned $3,074 per second in 2023, far more than any other big tech company.
Apple Earned the Median US Household Income in Less than Half a Minute
After a significant dip in sales and profits in the second half of 2022, the big five tech giants, Apple, Microsoft, Alphabet, Meta, and Amazon, have successfully bounced back, in part due to heavy cost-cutting measures that led to tens of thousands of job losses. And while they couldn’t replicate the profitability explosion seen in the early years of the pandemic, when millions of people turned to online services out of necessity, the net income of the five tech giants was still counted in hundreds of billions of dollars.
According to Statista and the official company data, Apple, Microsoft, Alphabet, Meta, and Amazon grossed $1.6 trillion in revenue last year, resulting in $290 billion in net income. More than one-third of that value came from Apple, the largest company in the GAFAM group.
Apple’s net income for the twelve months ending December 31, 2023, was $96.9 billion, or 2.8% less than in the same period a year before. This figure is even more impressive when broken down to a shorter time scale of net per second. Based on Apple’s profit in 2023, the company earned $3,074 per second last year, almost $1,000 more than Microsoft or Alphabet. This also means it took not even half a minute for the tech giant to make a year’s worth of money available to the average American household, which amounted to roughly $75,000.
Next to Apple are Microsoft and Alphabet, with $2,443 and $2,115 in profits generated every second. Far behind, Meta and Amazon follow with $942 and $636, respectively.
Apple`s Stock Value Increased by $390 Billion in a Year
Besides having the highest net income of all companies in the GAFAM group, Apple added $390 billion to its stock value in the past year. In February 2023, the tech giant’s market cap stood at $2.41 trillion. Since then, this figure has jumped by 16% and hit $2.8 trillion last week. Other tech giants saw even more significant growth. Since last February, Microsoft added one trillion dollars to its stock value, and Meta and Amazon follow with roughly $750 billion.
According to the AltIndex platform, Apple stocks have an AI score of 60 out of 100 and are designated with a hold signal. Also, according to data from the top investing forums, the company had a sentiment score of 78 out of 100 last week, meaning that the average sentiment in discussions was slightly positive.
